Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 177

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1
Chunk 177
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 increased
recruiting efforts, increased regulatory and compliance efforts, increased business development, selling, marketing and other actions
that are expensive and entail increased risk. We may need to invest more in our people and systems, controls, compliance efforts, policies
and procedures than we anticipate. As our business continues to evolve and we provide a wider range of services, we will become increasingly
dependent upon our employees. Failure to identify, hire, train and retain talented employees who share our values could have a negative
effect on our reputation and our business. The demands that our current and future growth place on our people and systems, controls,
compliance efforts, policies and procedures may exceed the benefits of such growth, and our operating results may suffer, at least in
the short-term, and perhaps in the long-term.

-14-

Consolidation
in the healthcare industry could adversely impact our business, financial condition and operating results.

Many
healthcare provider organizations are consolidating to create integrated healthcare delivery systems with greater market power. As provider
networks and managed care organizations consolidate, thus decreasing the number of market participants, competition to provide products
and services like ours will become more intense, and the importance of establishing and maintaining relationships with key industry participants
will increase. These industry participants may try to use their market power to negotiate price reductions for our products and services.
Any of these factors could materially and adversely impact our business, financial condition and operating results.

If
we do not continue to recruit and retain sufficient quality healthcare professionals at reasonable costs, it could increase our operating
costs and negatively affect our business and our profitability.

We
rely significantly on our ability to recruit and retain a sufficient number of healthcare professionals who possess the skills, experience
and licenses necessary to meet the requirements of our clients. With clinician burnout rates continuing to rise, an ongoing shortage
of certain qualified nurses and physicians in many areas of the United States and low unemployment rates for nurses and physicians, competition
for the hiring of these professionals remains intense. Our ability to recruit temporary and permanent healthcare professionals may be
exacerbated by continued low levels of unemployment.

We
compete with healthcare staffing companies, recruitment and placement agencies, including online staffing and recruitment agencies, and
with hospitals, healthcare facilities and physician practice groups to attract healthcare professionals based on the quantity, diversity
and quality of assignments offered, compensation packages, the benefits that we provide and speed and quality of our service.

The
costs of recruiting quality healthcare professionals and providing them with