Cross Country Healthcare is a U.S. healthcare staffing company that recruits clinicians and places them on temporary assignments at hospitals, health systems, and other care facilities. The core business is travel nurse staffing, where Cross Country places registered nurses and allied health professionals on short-term assignments (typically 13-week contracts), directly employing those clinicians and covering their pay, benefits, housing, and travel. Cross Country operates two segments: Nurse and Allied Staffing (~82% of revenue), which covers travel, per diem, and local placements across nursing and over 100 allied health specialties, plus education staffing and home-based senior care; and Physician Staffing (~18% of revenue), which places physicians and advanced practitioners on locum tenens assignments. Cross Country's revenue is driven by the number of clinicians on assignment, hourly bill rates charged to clients, and business mix. Gross margin is determined by the spread between bill rates charged to facilities and wages paid to clinicians. Cross Country also runs managed services programs (MSPs), where it manages a client's entire contingent staffing need — placing both its own clinicians and those of competing agencies — using its proprietary vendor management platform, Intellify. Cross Country licenses Intellify as SaaS to other staffing organizations and health systems, generating a modest recurring revenue stream. Management positions Cross Country as a technology-enabled staffing firm, and is targeting margin improvement through better business mix, offshoring to its center of excellence in Pune, India, and AI and automation initiatives.
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