Tobey Sommer: I appreciate that. I was wondering, how do you explain the rapid growth in Stratus when at a sort of foundational level, it doesn’t look like the non-native English speaking population growth has been as robust? What are the factors contributing to that rapid growth in recent years as well as so far this year?
Cary Grace: Yes, it’s a good question. There’s a couple of things. If you look at the overall profit pool for that, we are growing faster. And I think there’s a couple of factors. One, in terms of how our clients are utilizing that service. There are some clients who are actually doing it in house beforehand. So I think there’s one is it’s not necessarily that we are taking share away and there’s a bigger influx of a population that their primary language is not English. It’s that they’ve been served in different ways and probably not as efficiently within the health systems in the past. And so I think this is part of a strategy of how you ensure that you are operating your workforce as effectively as possible. Second piece is we started to introduce that solution set into our MSPs. And so a very big part of AMN’s value proposition is how do we put our entire solution set into our MSP relationships?
Just during the course of this year, we’ve made progress from having an average of eight of our solutions into our top clients to having nine. And our language services are a big part of that. Final piece that I’ll mention, Tobey, is we have a video solution. And what we have seen is that that solution has a value proposition that is attractive to clients. And so we think that has also been a part of our outsized growth relative to the market.
Tobey Sommer: Thank you.
Operator: Thank you. One moment for our next question. Next question is from Bill Sutherland of The Benchmark Company.
William Sutherland: Thanks. Hey, everybody. Been thinking about the Locum space. It’s just been very, very strong for you and others. What do you think would be the limiting factors on growth there, and what’s a reasonable kind of looking over the horizon a little bit as far as the sustainability of the growth?
James Taylor: So, first of all, I appreciate your question. And the Locums marketplace from a demand standpoint, as you heard me mention earlier, the demand is still at 1.5x of pre-COVID levels. I believe that that will continue to remain where it is. When you think about the demand coming in from the consumer needing care, you think about the aging population, and six out of ten with a chronic disease. And by 2034 you have people that are more over 65, then you’re going to have under 17, and then also wait times to actually get into the healthcare systems or those wait times are actually going up. So I think the demand will remain pretty constant. The limiting factor will be the supply and the number of positions that we have within the marketplace to be able to deliver against that.
Hence where we come in and I think play a significant role in delivering total talent solution and really thinking through, how do we help our clients to: one, have revenue generating events that help them to be able to manage their bottom line, but also to provide care for the patients that are needing that. So at this point, I think we have to think through how do we solve for that could be a very perfect storm. More people needing care with less physicians to be able to deliver against that. And I think we play a very significant role in helping with that.
William Sutherland: And Cary, when you think about resuming M&A, are you thinking more about adding to your toolkit solutions or are you thinking more about bench increases to, for instance, in areas strong like Locums?
