Profile: Cross Country Healthcare Inc (CCRN.OQ)
7 Mar 2014
Cross Country Healthcare, Inc. (Cross Country), incorporated in 1999, is engaged in the healthcare staffing services business offering a suite staffing and outsourcing services to the healthcare market. The Company segments include nurse and allied staffing, physician staffing, and other human capital management services. The nurse and allied staffing business segment provides travel nurse and allied staffing services and per diem nurse services primarily to acute care hospitals. The physician staffing business segment provides multi-specialty locum tenens services to the healthcare industry throughout the United States. The other human capital management services business segment includes the combined results of the Company’s education and training and retained search businesses that both have operations within the United States. In February 2013, it announced the sale of its clinical trial services business to ICON plc. In December 2013, Cross Country Healthcare Inc acquired the operating assets of On Assignment, Inc.'s Allied Healthcare staffing division.
Nurse and Allied Staffing
The Company’s nurse and allied staffing services are marketed to public and private healthcare and for-profit and not-for-profit facilities throughout the United States. The Company aggregates the different brands that it markets to its customers in this business segment. The Company also provides other healthcare professionals on contract assignments in a range of specialties that include operating room technicians, rehabilitation therapists, radiology technicians, respiratory therapists, radiation therapy technicians, nurse practitioners and physician assistants. In addition, it provides registered nurses (RNs), licensed practical nurses and certified nurse assistants for per diem assignments through a network of local offices.
The Company markets its nurse and allied staffing services primarily to acute care hospitals and health systems and provide its clients with staffing solutions through its Cross Country Staffing (CCS), MedStaff and Allied Health Group brands. Cross Country staffs a range of clinical settings in the for-profit and not-for-profit sectors throughout the United States, including acute care hospitals, physician practice groups, nursing facilities, nursing homes and sports medicine clinics and non-clinical settings, such as schools. CCS provides managed service provider (MSP) solutions to large hospitals and healthcare systems throughout the United States to manage and outsource clinical staffing, vendor resources and a full supplemental workforce to each hospital or health system. Its MSP engagements typically incorporate one or more of its contract nurse, contract allied and/or per diem staffing solutions.
The Company operates differentiated brands, including Cross Country TravCorps, MedStaff Healthcare Solutions, NovaPro, Cross Country Local, CRU-48, Allied Health Group and Assignment America to recruit nurses and allied healthcare professionals on a domestic and international basis. The Company operates its staffing business through a relatively centralized business model servicing all of the assignment needs of its field employees and client facilities through operation centers located in Boca Raton, Florida; Malden, Massachusetts; Tampa, Florida; Newtown Square, Pennsylvania and Norcross, Georgia. In addition to the sales and recruitment activities, these centers also perform support activities, such as coordinating housing, payroll processing, benefits administration, billing and collections, travel reimbursement processing, customer service and risk management. Its per diem staffing services are provided through a network of 16 branch offices serving metropolitan markets and west coasts of the United States. During the year ended December 31, 2011, Cross Country had an average of approximately 1,300 apartments open under lease throughout the United States.
The Company’s subsidiary MDA Holdings, Inc. (MDA), during 2011, handled approximately 5,000 assignments for 841 clients utilizing its database of over 180,000 providers who represent a range of medical specialties. MDA operates a multi-site business model with employees/recruiters at several locations nationwide. As of December 31, 2011, MDA employed approximately 77 physician staffing recruiters throughout its organization, including its Atlanta area headquarters, as well as its office in Dallas, Texas. MDA contracts with physicians to provide medical services at MDA’s healthcare customers. Each physician is an independent contractor and enters into an agreement with MDA to provide medical services at a particular healthcare facility or physician practice group based on terms and conditions of the customer.
The Company operates its physician staffing business from a relatively centralized business model servicing all of the assignment needs of the independent contractor physicians through operation centers located in Norcross, Georgia and Dallas, Texas. The support functions of credentials verification, accounts payable, billing and collections and risk management are all performed from its Norcross, Georgia location. Assignment management is performed by recruiters in various locations. Hours worked by independent contractor physicians are reported to its office in Norcross, Georgia.
Other Human Capital Management Services
Cross Country provides education and training programs to the healthcare industry and it also provides retained search services for physicians and healthcare executives. CCE subsidiary coordinates with various independent contractors in order to offer one-day seminars, conferences and e-learning to healthcare professionals on topics pertaining to healthcare. CCE is an approved provider of continuing education with more than 35 professional healthcare associations, and also works with national and state boards and associations. CCE offers one-day seminars and e-learning, as well as national and regional conferences on topics relevant to healthcare professionals. As of December 31, 2011, CCE had trained more than 1,000,000 licensed professionals in the fields of physical and occupational therapy, behavioral health, nursing, long-term care, coding and billing, regulatory compliance, dentistry, health information and healthcare administration. In 2011, CCE held approximately 5,450 seminars and conferences that were attended by nearly 150,000 registrants in 178 cities in the United States and Canada.
The Company competes with AMN Healthcare Services, Inc., On Assignment, Inc., CHG Healthcare Services, Medical Staffing Network Holdings, Inc., Jackson Healthcare, Team Health, Kforce, Inc., Kelly Services, Quintiles, Covance Inc., Pharmaceutical Products Development, Inc. and Kendle International.
Cross Country Healthcare Inc
SUITE 200, 6551 PARK OF COMMERCE
BOCA RATON FL 33487