AMN Healthcare Faces Margin Reset in 2024

Healthcare utilization is expected to increase at a solid clip over the coming decades, and the pipeline of healthcare professionals is not expected to keep pace, especially in light of the coronavirus pandemic. This combination of factors should serve as a strong foundation for AMN Healthcare through our explicit forecast period. While the firm continues to navigate near-term demand declines as providers return to normalized non-pandemic utilization, we believe long-term demand will remain robust for the firm's core service—providing temporary and permanent labor for healthcare providers—as projected utilization continues to outpace the net number of nurses the US produces.