Bill Overview
Title: Travel Nursing Agency Transparency Study Act
Description: This bill requires the Government Accountability Office to study the effects of travel nurse agencies during the COVID-19 pandemic. The study must consider matters that include agency business and payment practices, the effects of travel nurse agency practices on workforce shortages, and the acquisition of travel nurse agencies by private equity firms.
Sponsors: Sen. Cramer, Kevin [R-ND]
Target Audience
Population: Healthcare professionals and workers involved with or affected by travel nursing agencies
Estimated Size: 2000000
- The bill focuses on travel nurse agencies, which involve both the travel nurses who take up contracts through these agencies and the healthcare facilities that hire them.
- During the COVID-19 pandemic, the reliance on travel nurses increased significantly due to overwhelmed healthcare systems needing flexible staffing solutions.
- The study may impact over 700,000 registered nurses working in the United States, a portion of whom could be travel nurses, based on reports that suggest about one-third of nurses have considered travel positions.
- Private equity firms acquiring travel nurse agencies impacts those in the healthcare financial investment sectors.
- Healthcare administrators within hospitals and clinics that rely on travel nurses will be stakeholders impacted by potential future regulations or transparency requirements resulting from this study.
Reasoning
- The policy primarily affects travel nurses and healthcare administrators as it seeks to bring transparency to the practices of travel nurse agencies. The funding is allocated for a study, not direct intervention, so the immediate impact will be on the information available which could then influence eventual policy changes.
- Travel nurses likely represent a subset of the 3 million registered nurses in the U.S., but the larger ecosystem includes hospital administrators, financial analysts, and patients, all of whom have varying degrees of interest and impact.
- The policy does not directly improve working conditions or pay; rather it improves transparency which could, in the long run, stabilize or alter the dynamics within the job market and staffing models.
- Private equity involvement adds another layer affecting stakeholders in the financial sector who might also be scrutinized or feel changes in business practices due to this study.
- Understanding the business practices and their impacts could influence future legislation aimed at improving nurse conditions and hospital management strategies.
Simulated Interviews
Travel Nurse (New York, NY)
Age: 34 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 8/20
Statement of Opinion:
- I think the policy could help improve understanding of how travel agencies operate, which might benefit nurses like me in the long run.
- Right now, there’s a lot of confusion about agency fees and contract terms.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 4 |
Hospital Administrator (Houston, TX)
Age: 45 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 1.0 years
Commonness: 7/20
Statement of Opinion:
- This study is needed to evaluate the cost implications of relying on travel nurses.
- Better transparency will help us plan our budgets more effectively.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 4 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 5 | 4 |
Registered Nurse - Considering Travel Nursing (Sacramento, CA)
Age: 29 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 1.0 years
Commonness: 12/20
Statement of Opinion:
- It's good to know exactly what travel nursing involves before making the switch.
- Knowing that the practices are being studied could make me more comfortable.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 5 | 5 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 4 |
Travel Nurse (Chicago, IL)
Age: 40 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 2.0 years
Commonness: 8/20
Statement of Opinion:
- I've been worried about how agency acquisitions change contract terms.
- A closer look at these practices could benefit us travel nurses.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 5 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 4 |
| Year 10 | 6 | 3 |
| Year 20 | 5 | 3 |
Healthcare Financial Analyst (Salt Lake City, UT)
Age: 52 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 1.0 years
Commonness: 5/20
Statement of Opinion:
- Transparency in agency practices will help stabilize financial planning for hospitals.
- Private equity influence in healthcare needs monitoring.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 4 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 5 | 3 |
Travel Nurse (Atlanta, GA)
Age: 31 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 3.0 years
Commonness: 9/20
Statement of Opinion:
- I like the flexibility and pay of travel nursing.
- Understanding agency practices better through the study might ensure fair play for all nurses.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 5 | 4 |
Hospital Recruiter (Boston, MA)
Age: 39 | Gender: other
Wellbeing Before Policy: 5
Duration of Impact: 1.0 years
Commonness: 6/20
Statement of Opinion:
- The study might reveal cost-saving opportunities for our hiring challenges.
- We're spending too much on travel nurses without understanding where all the money goes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 5 | 4 |
| Year 3 | 5 | 4 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 4 |
Private Investment Fund Manager (Los Angeles, CA)
Age: 47 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 1.0 years
Commonness: 3/20
Statement of Opinion:
- Monitoring of agency acquisitions might be seen as a regulatory risk but could also lead to clearer investment strategies.
- The healthcare sector is ripe for transparency-driven improvements.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 5 | 4 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 4 | 4 |
Travel Nurse (Miami, FL)
Age: 36 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 10/20
Statement of Opinion:
- Every travel nurse has heard rumors about how agencies operate. A study could clear up some of the confusion.
- I would feel more secure with transparent pay structures.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 4 |
| Year 10 | 5 | 3 |
| Year 20 | 5 | 3 |
Hospital CEO (Philadelphia, PA)
Age: 62 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 1.5 years
Commonness: 4/20
Statement of Opinion:
- Understanding the business side of travel nursing helps us align our operational costs.
- If the study leads to cost control, we can reinvest savings into permanent staff.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 5 |
| Year 3 | 5 | 4 |
| Year 5 | 5 | 4 |
| Year 10 | 5 | 4 |
| Year 20 | 5 | 4 |
Cost Estimates
Year 1: $3000000 (Low: $1000000, High: $5000000)
Year 2: $0 (Low: $0, High: $0)
Year 3: $0 (Low: $0, High: $0)
Year 5: $0 (Low: $0, High: $0)
Year 10: $0 (Low: $0, High: $0)
Year 100: $0 (Low: $0, High: $0)
Key Considerations
- The study might inform future policy regulations that could impact healthcare labor market dynamics.
- Private equity involvement in travel nurse agencies could lead to market concentration, affecting competition and pricing.
- The study's findings may impact employment and compensation structures within healthcare, though these are not immediate outcomes.