AMN - Earnings call transcript Q2 2020 | AMN Healthcare Services, Inc.

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Operator

Ladies and gentlemen, thank you for standing by, and welcome to AMN Healthcare's Second Quarter 2020 Earnings Call. [Operator Instructions] Please be advised that today's conference call is being recorded. [Operator Instructions] I would now like to hand the conference over to Randle Reece, Director of Investor Relations. Thank you. Please go ahead.

Randle Reece

everyone. afternoon, Good Healthcare's AMN XXXX Call. Earnings Welcome Second to Quarter will at call. amnhealthcare.investorroom.com, A replay the available webcast this this of following be conclusion of Details this of our for replay call the in are the earnings afternoon. conference issued release audio Various projections, circumstances plans, expectation, about trends, make remarks statements. events during we forward-looking call future this constitute or company's based reflect upon These available currently the statements information current beliefs to it.

non-GAAP result in these GAAP measures today statements, may the materially forms XX-Q, these The amnhealthcare.investorroom.com. to statements most release as with to the a intend guidance by comparable including filed earnings from forward-looking forward-looking cautionary non-GAAP most update or the our regarding not and directly in included identified at its indicated prior Our and of those any differ XX-K reports and factors reconciliations information. actual on our measures our financial and financial Information results recently contains to earnings of SEC. release. earnings our those provided certain are next various subsequent does This statements and call company release page filings

Landry Solutions; On to COO Officer; Chief Chief Strategic Nursing President Kelly Group over Susan. Officer. turn Chief today and Susan Experience and Allied I Seedig, Dr. Solutions; Clinical Officer; Cole Financial call Brian and Rakowski, Talent and are the Executive now the call Scott, of Salka, Edmonson, will

Susan Salka

that colleague, that support insights to country opportunities. to have uptrend is To Dr. the vitally invited spectrum we we ever growth what Since conference pressure COVID-XX experience pandemic of rose upheaval, change. Chief With AMN social and But full has and organizations in pivoted this care. grappling throughout the quickly industry of with reeling the Experience the the intentions. further The caring questions care AMN our through They Cole much, our of and so important our support professionals, provided health to care Edmonson, lines, recently answer a made more doing and beginning health and crisis, across end, was from long-term below to environment, from shutdown and this of In care, handle front care the solutions AMN's capture it's stages are Officer, care dramatic call. XXXX non-emergency was by organizations. you into values. Randy. the their March, their borne positioned managing about resources with Thank challenge help the have any help Clinical resumed health country pandemic. onset of surged expanded the quarter the crisis. to surge And COVID-XX commitment demand current our the our and and of AMN health volatility the levels. greatest and core services AMN health has to the handle health our for our but for volume still affected everyone, adjusted states been a demonstrates and dynamic business second than of and pre-crisis have welcome, and under better this patients U.S. have sector been to clients. and professionals little clouded. industry to ways understand survey the with that the team a health nation our the We a and to early patients care impact in of an care nurses engagement existing burden, care launched professionals economy Today, spread new remains We care Many on were challenges. them COVID-XX that patients completed has months three dedicated outlook ago. health and to who the even our the greatest

diversity and justice social Healthcare supporting actions, equality our inclusion. a equity, even commitment goals greater with and diversity, has to AMN urgency. fortifying longstanding are We

biases. both important racism Our to systemic fight and during And investments need this activities, internally in the time, values externally. to we've include inherently and increase taken our action

example, to businesses underrepresented support XXX recently, historically certifications. diverse attain supplier AMN extended one As financial to

sensitivity have We diverse foster and training leadership inclusive more also development amplified and our even an to programs workforce.

employee been do but resource specific Our also leader seven want to individuals are positive critical groups as in our our and we to ensuring effect ourselves industry as a actions who taking have change. educating part in

clients also maintaining headwinds. we near-term long-term turmoil, their of despite time find our the vision are this During that

for They team months, to recent to were many make several care. a who be we In Strategic has difference social hovering strategic and expanded service solutions new want to opportunities lines. more serious to about or change. engaged awarded And the meaningful current excited we our of pleased Accounts is the Our are front strategic highly robust been health looking lines relationships, more collaborating a of partner increased about challenges. issues that also the complete create are systems and health with workforce on

turn the $XXX high in $XX at adjusted to million. another quarter results with financial quarter for company and record million, let's business Revenue Now set second trends. second of the EBITDA

segment of Our million, $XXX Allied produced up growth. XX% Nurse organic XX% revenue year-over-year, and with

worked. is X% and year. to third to quarter, revenue year, Nurse be expected Medical. higher XX% therapy Advanced acquisition with Travel in in part down Staffing was approximately grew and Staffing largest lower is Nurse revenue Allied year-over-year X% XX% weakness Our Travel of large over Allied by due offset demand. physical business, year-over-year. XX% year's revenue Staffing, prior higher the to Nurse Organic down prior up Solutions volumes, be to to rates due for Allied XX%, In from was expected last hours revenue by

few improving are through risen Allied we six weeks, hospital third be combination to which orders census last drive as in Travel recovery lower Over resurgence the orders in COVID-XX above XX%. a the Nurse we the Travel states. significantly third Allied in by prior quarter. expect from up activity is of last expected a weeks, year. prior year have picked the revenue Nurse and to has Current of move quarter in to demand than XX% volumes many

but of quarter as down was to a million, segment, Practice up offset related declines by More increased decline Solutions revenue more revenue than driven has demand year-over-year. cancellations Our begun recorded care to was in some revenue saw Physician was year-over-year, this that $XXX year-over-year, we've disciplines and see Leadership pandemic. by Advanced to the other of continued Tenens for specialties. other recently, Locum XX% Within second recover. nonemergency which segment XX%

for fell segment, XX% second year-over-year of quarter. placement second largest second a in this decline our The Interim year-over-year of Revenue by in combined business, the XX% the our a permanent businesses revenue part had and many Leadership as were for year-over-year Though Leadership down have and hold to nearly be declined. quarter third put Solutions Physician business engagements trends expect search XX%. on needs new we by quarter revenue stabilized, search

up acquisitions third Workforce X% revenue including of Our in million, Stratus $XX XXX% Technology was the in year-over-year, reported Solutions, up February revenue Video and bXhealth of year-over-year. and segment, December. Organic

late when and a build grew in Stratus $XX X% increased anticipated guidance. more quarter, throughout second the business organic quarter exceeded had million recovered slow than with year-over-year VMS of second contributed growth. the by quickly start, June. we provided Our XX% minutes in COVID-XX After we levels quarter pre the revenue and

time are country. interpretation across the critical particularly language provide they this at-risk populations important at support services Our because patient for

Solutions $XX year-over-year, expect the revenue to we acquisitions. third Technology about bXhealth including approximately from and the Workforce be and For up XXX% million quarter, Stratus

We revenue expect segment. be down year-over-year slightly organic this to in

anticipated taking we second from cost-savings to actions. As decline quarter, we an revenue began overall the the third

of few shift revenue, AMN the lower towards anticipate the a been have we past over talent remain result, solutions would made important over performance will investments and possible margin EBITDA expected the total This even kind with strategic XX%. without the As technology ago. our have a adjusted decade years that made not that we above

more We that are our enable these health experience our make capabilities efficiencies. and and to clients a care including investments, professionals positive for digital further important continuing create

our Beyond professionals committed demand clients can and however. uncertainties public the this of about need professionals. you tirelessly to quality policy. fast-changing for is the ongoing continue of to in will bringing We, our environment, partners, industry. through the talent and AMN network state care assure strategic navigate third along set team economy, We to the quarter, meet helping work extensive care total The solutions remain health with this, health strongest care health the U.S. the of

remarkable appreciated to these in everyone they been has want team months. do essential. actually I are and that lifeblood these asked their change team creativity the how efforts much past grown and one we team the from every am solutions. so we're of another, members remotely amazing I their have AMN with as to know closer and a And all though greatly recognize working business, day, I way commitment. our Our are energy, few impressed Even

culture our mission. many is in addition, the I In engaged love are about the how inclusive and supportive family our one things of and AMN friends

So I team the want of care and huge other members friends our a our and thanks family spouses, partners, of professionals. parents, to children extend to health and

more special also I'll wonderful the over Scott, now, and celebrate join happy positive a impact. the Dr. insight our into and I at you. in decent Your to who I be the family. Q&A financial very analyst AMN a few shout us to so home to will husband, will And been anniversary after In Kelly, minutes, out support calls for Brian, has promise, to my to turn a with provide for Cole But tenth and call makes Landry toast who supportive time a our results. me session. will

Brian Scott

and Thank you, afternoon, anniversary, Happy Susan. everyone. good

a outperformance expected, sequentially grew revenue year-over-year. Nurse, Technology level, and XXX basis, X% a quarter Allied Allied line was revenue an toward revenue up our and down Solutions mix the than year-over-year. our partly associated third X% and integration quarter. was due of expenses the with to $XX for the expectations. in margin with revenue the Interpretation $XXX down shift and about the million, a or SG&A well Medical; X% million the XX.X%, Nurse Workforce while XX.X% $XXX sequentially performed increase SG&A Solutions points, staffing reduced of Gross compared and $X or acquisitions included both Advanced XX% range a The and and cost The $XXX Second guidance bXhealth was was align the our of million year. for in expenses At our $X from quarter gross lower related structure and Consolidated and the in revenue by Physician lower This in and Video, reduction expenses sequentially Nurse Solutions with of expected segment. to revenue year-over-year offset better efforts; million million and additional Leadership last margin a in above and reduction bXhealth basis expenses; $X On of cost million was to Consolidated to decline XX.X% due million, were same margin acquisition. increase in quarter of Language organic margin restructuring year-over-year. our Allied liability revenue of was Stratus in segment businesses. earn-out

our to rate the expect be of this quarter first lower quarter We SG&A than third about year. run XX%

the service remaining team's proud health AMN care in agility clients our We of very unprecedented while and delivering to on environment. are this great focused professionals

partly than and Second in solutions the Allied up Nurse XX% organic quarter. segment with $XXX Travel higher cycle by by with strong revenue prior over On disruption. and prior Staffing, was year Travel revenue Allied sequentially. by revenue quarter labor X% was Nurse revenue growth organic grew basis, higher XX% million, an during year, in offset up XX% Nurse, revenue XX%, declines and

prior down Travel gross relatively year, sequential solutions. the was points were cycle lower points was basis Allied rate due year to lower year-over-year lower XX%, and revenue flat up COVID-XX-related from XX.X% prior margin second from average cycle and was was revenue down pandemic. margin assignments. solutions the crisis margin year, decline more Nurse than declines average to sequentially. impacted rate of from also was revenue COVID-XX revenue. points in was to XXX gross EBITDA basis over assignments and and XX% disruption higher stemmed Allied points and and the XXX the XX% The margin bill impacts Segment than XX sequentially. than worked up Nurse quarter from prior basis less also XX% down due hours XX basis gross prior of million year with and Year-over-year $XX labor Although was related volume

points Adjusted revenue. in lower of the points the Technology sequentially. segment large initiatives of than $XX quarter was below points to X%, was bad and from Physician debt Solutions Gross XXX% Organic prior year-over-year revenue and and and margin basis mainly XX% XX% a revenue Leadership year cost sequentially. placement share of basis was second XX compared $XX of XX We $XXX Workforce year, and quarter. $X.XX Gross was million lower last Second quarter. year XX.X% by by year-over-year per net revenue sequentially was sequentially, margin basis year-over-year driven by sequentially prior mix year-over-year, down permanent XX.X%, $X.XX due Segment EBITDA was and acquisition XX.X% basis million XX.X%, up points and up margin income $X.XX lower points leverage. points Solutions higher the of expense. of down earnings basis sequentially. the XX.X% acquisitions of reported Stratus year-over-year XX XXX XX% up savings and basis XXX driven basis quarter, to part earnings of and both million per up year-over-year XX and in EBITDA margin lower acquisition, operating down in due Adjusted higher EBITDA with sequentially. EBITDA the $XX better second was Consolidated was Video. because in Stratus was points adjusted margin XX% of second and better but and sequentially. was also higher share of quarter XX diluted million was the year-ago

in rate rate have adjusted end better was pay nontaxable quarter tax compensation of plan. improvement by gains continued tax same an XX% quarter. a was the clients and income according The terms. GAAP quarter sales an investment approximately vast year low of Day deferred from at to driven last days, on outstanding effects to XX majority and GAAP the was the Our our on X-day two was XX% our The normal ago days than quarter basis.

quarter $X to an million. we revolver And off of long-term end, of stood quarter million debt. and $XXX June in the additional the $XX paid XX, expenditures times. with of As times cash one at equivalents X.X and million, were debt leverage million ratio ended a we Capital have since $XX of quarter

million, $XX Second factors, cash the from operating Act. including tax flow of quarter lower payments the several DSO and was driven Cares by deferral the

pandemic health increases create many recent uneven along currents in The more with guidance. as cross quarter recovery deal a clients of care third continues across COVID-XX of to parts demand utilization, an Turning to with environment volatile the the country. in hospitalizations

to is prior of over across worked placements year. from country. by and bill decline Overall, be than about volume about the and Allied quarter revenue are our prior continue Allied at the to Sequentially, higher expected an is We economic prior Nurse segment, down that XX% up These will the rates we COVID-related X% in the our being Travel and outlook, them also offset both volume we market XX%. XX%. and of to Nurse expect revenue hours labor to industry. revenue decline bill reflected challenges lower and by XX% expected expect through X% uncertainties remainder influence health year, Within Travel Allied over to is third expect expected be to the XX% and care Nurse with be year. rates year least Nurse expected to to

For expect and segment, to prior third Solutions our year. we nearly Physician revenue quarter XX% down from be Leadership the

Solutions Technology third segment, interpretation Within continue in the since which and we quarter. steady has our will minutes experienced Workforce language the growth expect May, billable through to business

segment the in range in these recent Our and million about in to consolidated VMS be XXX% grew projecting revenue of quarter revenue year-over-year we Overall, indicate trends are million. Analytics trends, similar $XXX and up third to Predictive and second Scheduling on Based performance to third year-over-year. the quarter a we businesses be $XXX quarter. expect

XX% Third to XX.X%. at quarter be approximately projected margin is gross to

margin $X up for stock-based $XX of following: is $X million; expense integration third and include to to than noncash is $X greater adjusted now compensation operating expected quarter rate of like expense expense X%, of the and estimates of $XX margin And quarter of be expense above open adjusted Other the tax be an depreciation of call million; XX%. expected EBITDA interest expenses we'd million; to questions. Third amortization million; million; XX%.

Operator

question Crédit [Operator Instructions] Rice Suisse. with Our comes first A.J. from

Rob Moon

Rice. Moon you down have are a surges. and early seeing wondering July bit? demand is you seeing I is on calmed in you recovery regions to in start recover regions the not could was guys talk What just COVID if – to where where August Rob were A.J. in for This demand things

Susan Salka

orders are The Rob, I'll in recovery have the Landry we really Allied see orders short is a but I'd return, both are yes, weigh Kelly businesses, to Kelly, and trajectory. we at client more Locum, the also Nursing and non-COVID-related on however, perspective, our placement say, in Nursing, slower across from less Allied. our but all that. maybe for albeit starting of evident specifically seeing across permanent most And Landry, of non-COVID answer, businesses,

combination of orders. is and a have both a in, consider are surge and some the weigh ask what first orders to I'll normalized Landry. We to COVID-related would But recovery, why then we now seeing which base more Kelly be of growing we

Kelly Rakowski

Yes.

thank her Just been to perspective, – been demand. pre-COVID or we're areas regular, modeling, modeling to perspective, We by see just addition Susan. some XX% those And – XX% you, that to doing market in other to on to have that we had say, some October volumes a particularly up in have levels a volume add from I adding of getting would to We've November. to areas. expecting hospitals, high

hiring. coming the in levels we permanent getting that said, as to as well demand, those perm our back well. or So And levels seeing the markets has in both Susan hiring needs higher staffing with as in as is that are pre-COVID to our normal resumed contingent of some

Landry Seedig

saw City. now, are mentioned, and that, area, new and, demand and, New in and the placements to New add our first that York seeing that right was New highest assignment ICU, just would specifically, York And in York still I Landry. on where is year-over-year the we New we in up in Kelly surge specifically, new even such this like need areas travelers and the York OR. But as Yes, Susan area the is City.

about the So I permanent nurses – area. that need were need think lot from in there ICU support that a says still that our that – nurses

Rob Moon

talk When on kind Can puts QX revenues you're the and I Great. range, to XX% headwinds revenue? see just progression follow-up. but is down And at the margin in the coming getting guide, of improving. margin to the your are then look even in on takes the that X% to how I you

Brian Scott

Sure. I we gave the look This is over said XX%. EBITDA Brian here you guidance we if mean, margin, at for

So The be quarter. differently. change getting consistent be third with relatively up expect driven kind part in by that we It's quarter, gross the do just a mix. the in there bit would what reported in we margin, in slightly the of second to a

in I had the in As we than little was quarter mentioned a remarks, the second bit our of expected higher prepared nursing revenue. as margin mix a lower we

total coming percentage you consolidated As see Leadership and the that gone reduction some about. And a Segments increase of the in it then Technology we bit is we've naturally and the a the through as higher a lift down Physician that have has margins margin talked as third gross of quarter, as in cost effort revenue the gross and Workforce margin.

we to match little fantastic expenses a although rightsizing revenue. are job has of losing bit a operating of leverage, the the so team done And

operating We margins. a we with although up little that bit level making we're end EBITDA lose gross a margin leverage, – pretty at similar quarter-to-quarter. the higher we of so And up

Rob Moon

Really Great, appreciate guys. thank you it

Operator

is Truist Securities. next Sommer Tobey Our with question from

Tobey Sommer

comment across main was seeing give there pause up. I and I'll supply could a Thank follow standpoint what just you're if a And you. us from on your wondering categories. you

Susan Salka

all-time critically nursing, the in a can now, I at is It's levels of company. that and great you we demand, of as because particularly Tobey. important in where supply imagine, question high Thanks, the mean are history literally

the the been with them. the new helpful our And into recruit second engage come continue have of so to has – our as the part to in very supply But candidates. into recruiters continuing quarter that we business early saw we industry to and

that areas that rethink career to allied in their Advanced applicants perhaps like some increased have supply. little are Locum, because forced I'd that helped really Practice, a But on the some bit displaced we've and individuals We more seeing in been AMN of of we've has supply, comment including to a in in digital like even bring great made made, Physician sure the Landry team like within nursing job other Passport. or done the the we particular, has making of investments the in leverage investments

So add want Landry, around to do that? a more little commentary you

Landry Seedig

that look as can they just like do the and self-select year, they new there, on our Yes, over such so a goal do can their set to in good, as that's some our like this a month, our with AMN has their Specific Nursing. pay mobile sure. ourselves proven review have well kind Travel supply specific far and search us. want we and up making, that's things, that's A clinicians the really prior of digital certain jobs app the numbers mobile off applications work we've been investments of Tobey, for weekly of yes, the the our digitally, to of been us credentialing they And initiatives. the to as can in Passport, really above Every year lot documents. at with self-service that that lot beginning uploading year. other of or it's to for jobs, that taken things XXXX,

lot of So initiatives and those it's But really in help with process. a we've just supply is specifically the helping in to drive that really mobile general, whole investments us. on-boarding initiatives, the made, digital the

Susan Salka

into of the sort us now, sentiment future. career that because might affects be going of for the great a just think about level not clients Edmonson they're it how nurses thinking opportunity on the the I Dr. and burnout weigh and I the to referenced for really survey but Tobey, in going Nurse affects that forward, of workforce this and our their

few you words So mind, wouldn't perhaps, Cole, about that. saying a if

Cole Edmonson

them we next field, kind see some it as encouraged change an and their Because of the really are on XX% working year. What to it in settings. faculty about represents did serving making in we of to could Most continuing turned but we nursing. away enrollment, of some But were We really found, really practice us which of the last disruption that of capacity we industry. that currently the within nursing on as year, plan their really in based continue be working are even in XX,XXX that increase is in I'm to XX% increase their nurses nice on enrollments change stability also students workforce, shortages that Thank work reporting those we also about that strong. in you, potentially are status in they're the potential Susan. a employers That has supply. of and for terms see the were new in think the school lack programs. What a be that hard that nursing or programs some the their specialty, is a know, qualified planning

that So we're well. differing of what trends kind we very sample forward, workforce we realize seeing, are is go as this we're encouraged we but one today, where and could also see we as that gives by

experience are of important we taking AMN, sure which clinicians. really sure of we great to assignment, we're as care making on have it's well wellness as the make ability we that And with we So their also attention do. who to folks pay make our that

Tobey Sommer

of to utilize and what you're you're the customers business, how Stratus perhaps any penetration able including you to intentions into within specifically is services, us lines Could in and together for that you their technology tents book, about if various from their MSP big your hearing stitch on of comment and maybe update workforce, MSPs. could your on

Kelly Rakowski

it's to happy I'll of address all be Tobey, points. Kelly, those

and is First not of there coming current we most strong particularly needs our had current continue a just to clients, only from level the a that – where coming even strategic COVID strain all, but on have support those overtime burnout. to of some need COVID, high of of see out they're also, they've for generally someone are levels of that's organizations workforce,

So – into seasonal demand. they're higher coming they have time a now more and where

their customers already working winter So prior most very we needs, and they're orders strategic not what our saw higher if the are on future we of and year. similar, with their than some

had So MSP we we've appreciative clients, Cole ability they've of throughout. with continued to us, that Dr. of going mentioned extremely additional our to is believe that support demand, particularly to And mental, the continue. services for on our and the fulfill. well-being of been our clinicians they're kind clinical partnership extend level been their safety, clients. appreciated provide additional while supporting we really able to the our their is have assignment, support by their to They've

our and a total expansions, place we're the portfolio. management have components some in and – newer very our like which We for this renewals very good of many that year talent Stratus into if a around have expanded of providing additional services

and say we're seeing very, MSP our relationships very there. would an We're with reliance, encouraged and much closer I about the So partnerships trajectory even independency deeper clients.

Tobey Sommer

this a you for could do you for numbers Brian. to it question one down all me, do ratio? think back maybe times? two the leverage to better-than-expected Last when EBITDA is going And have What

Brian Scott

get at times sit to at we right today we're above times. our of ways terms better end in to our got pleased with two We've little and where and very the three of quarter. credit – a of We're the facility, last just debt, overall, maturities

take of year, during maybe X.X a debt expect to end it will the to it. about closer I'd healthy place reduction little the down quarter, bit the we lower time good than to but get bit that. in balance in will a more sheet a It and very to we're two And by with So got times be X.X. times, the down feel the

Tobey Sommer

you. Thank

Operator

BMO Next question with is Capital Markets. from Jeff Silber

is line Your open.

Jeff Silber

expect Is to terms potential so to be Based safe XX% it comments the in much. say to XQ by your XX% to you October, bottom earlier on November. Thanks that revenues? getting on the volume back of

Susan Salka

again, fourth last in orders And the good as and the clients. for better Well, on sort starting of not, Kelly particularly sequential quarter would we're rate, to some be we're bit in good, than uptick in a at little a come see alluded, year, winter cases, if as new us, adding normally Nursing. a many

that And so expect contribute we fourth quarter. would to can the

hearing because hesitancy only hard going what volumes HHS, voice think I as my actual country. our from hear volatility, what absolutely we're also the continue But it's to That's You the clients. well to to just be. this as environment might in tell have we're surges and across in the from

think ready And have be to so both. we I for

in in might ready a patients spike normal to demand. for care settings have well COVID of normal resumption that be We have as as

right So that's what we're now. anticipating

Jeff Silber

helpful. that's that. appreciate I Okay, really

that You also in most. to about the here, kind able maybe technology, I think, get once earlier? about you might talked in at through Do was the spent you past, back of smooth but won't that getting the transition the think you structurally towards than smoother talked fact potentially it that, your beginning XX% goal business a than I be have, we different say this, being margin investments that

Susan Salka

to and think and could that move do quickly achieved. some us crisis of for to us anything, we get faster or the was We Yes. saw make needed place, this even forced automation we And goal in enabled because very the that's benefit perhaps if possible still us. be a what has investments to achievable

this And lot set in months sight XX so to part more we the absolutely our accomplishing next six accomplished already of was the a in first a months. lot and year, have on

actually our internally well now, at as time I sure things have towards in We're did that investments, I continued frame than the least the at create based of achieving And making as should sooner lead with us externally well yet, but it efficiency, beginning processes confidence not think streamlining we're as of just putting our those greater that. as goal clients, improvement and on year. I that so or a which on even

Jeff Silber

that's helpful. great, Okay, so really much. Thanks

Susan Salka

Thanks.

Operator

question Tanquilut next Jefferies. Our is from Brian with

Your line is open.

Brian Tanquilut

afternoon. Susan, to first good Jeff's Hey, a follow-up answer question. on just your

now you on good your about do the of limited. about if like into year, in the So is of a terms thinking I visibility strength next right, we're right know in continued surges, feel we're baseline terms to demand of if thinking from Nursing? QX But this will and of build Travel business kind that's seeing for be

Susan Salka

Yes.

sure to I the want I I understand make So question.

growth a have of of services. normal kind and if we undercurrent a resumption of So normal

needs. clients' you year, don't alluded And all on As Kelly but know in to back be those would of that direction. we'd we COVID-related to of our be means would that our part it we information we'd put predictive have of that next back fully top place I analytics suggest to, businesses by that that, normal be in levels. first using that the moving the in would

achieve Allied, seeing to greater are recovery. as Some, think permanent Nursing signs it in earlier to an example, and for we're other absolutely such areas in I there's I And take as going been where take think even longer do longer. disruption, Locums, of such that. placement, could But the

Brian Tanquilut

risks, second people to question, then story, that And was years, said the look the over this disruption things it. external business MSP COVID. macro is or my Appreciate your as the is it's test guys to of with the whether adding a always where the one And terms right? way of in angle a had that really at first economic shock as here, story we from you your sit big you risk to quarter reduce

you worked think that at terms that – strategy MSP and from side do look do shielding business of it, your with you the business the increased volatility? you As in growing believe has of

Susan Salka

do. Yes. I absolutely

ensuring our and, of front really to us But had the for help fantastic clinicians they jobs plate. look certainly, vendors, if were to partners. collaborative They our strategic we the in stepped up you able affiliate got second particular, AMN were fact, credit quarter, where we also course, lines. lot also deserve partners our great the and desperately, we of In from so their to MSP clients and a clients, at needed fill

point In our have our businesses, hit in fact, of we a revenue. company or direct our of capture in levels overall, MSP most of direct we nursing. the of particular, highest for But across fill high terms capture

helps your that hopefully, So answer question.

Brian Scott

Brian. Brian, this is

is, really add just of just The MSP other part I'd strategy. talent our is thing total

just you them, about now. these only when help one clients element So we and think it's can how

mentioned with well, – predictive been scheduling excited or now Cole Stratus it's service we add capabilities well. and whether about them we've permanent really help as our so can other services So to as earlier, lines, ability as

to we the and ways that be So at just those patient great wanting and we're that and deliver help more for seeing them involvement labor clients same mark finding time. engage from can contingent care other high efficient beyond further MSP traditional

large some think well. revenue ability us I a thing the other the country, systems of the benefit our DSO more collections, coming terms strong of of is The collect in at for fact the have I that as we really of us, to you the the as and – predictability the in also look think, business down and that through for strong

Brian Tanquilut

Awesome. Thank you.

Operator

turn [Operator and back it to conclude Susan now Salka Ladies any does this remarks. over for Instructions] period. I'll the closing gentlemen, Q&A

Susan Salka

us Hope We're wonderful your support and always, of And joining you course, and for very your and have of time a for AMN the evening. well. today. be purpose grateful organization. everyone, as mission you, our Thank across

Operator

call. your now gentlemen, and participation, for Thank Ladies does this conference conclude disconnect. may today's you and you

AMN Healthcare Services (AMN) 8 Aug 202020 Q2 Earnings call transcript