What You Ought to Know:
– As we speak ShiftMed, one of many largest W-2 healthcare workforce administration platforms, introduced $200M in funding led by Panoramic Ventures with participation from Blue Heron Capital and Audacious Capital.
– ShiftMed plans to make use of the newest spherical of funding to assist clear up healthcare workforce points throughout quite a lot of care settings, with an emphasis on increasing into well being techniques.
Versatile Answer for Staffing Scarcity
Traditionally, conventional staffing suppliers have centered on the journey nursing section as a result of excessive margins the place a number of massive gamers management the market. Journey nursing charges proceed to exceed the budgets of nationwide healthcare suppliers, which is unsustainable. The sector has grown from $8B in 2020 to greater than $13B in 2022. Journey nurse suppliers are bleeding hospital system budgets whereas demoralizing in-house groups paid at decrease charges.
“Healthcare suppliers proceed to battle with entry to credentialed employees as affected person wants and quantity continues to rise,” mentioned Todd Walrath, CEO of ShiftMed. “ShiftMed is positioned to offer well being techniques with a regulatory compliant W-2 answer that leverages native and part-time assets.”
Compared to different expensive workforce options, like journey nursing, ShiftMed gives entry to a database of over 350,000 W-2 healthcare professionals to supply well being techniques a unified answer to their workforce that will increase retention, creates versatile work alternatives, and reduces reliance on journey businesses.
ShiftMed gives entry to a neighborhood market with greater than 350,000 credentialed W-2 healthcare employees and an automatic workforce administration platform that uniquely allows acute, post-acute, and in-home suppliers to handle their assets dynamically. By utilizing cell and cloud-based software program that gives workforce optimization, well being techniques are capable of provide a contemporary, unified answer to their workforce that will increase retention, creates part-time work alternatives, and reduces reliance on journey businesses. ShiftMed additionally gives entry to further native employees, lowering working prices by 30-40% in comparison with journey staffing alternate options.
“By diminishing reliance on journey nurses, making certain a compliant W-2 workforce, and offering instruments to extend retention, we see a path for giant well being techniques to alter the labor framework to provide them management and predictability,” added Walrath.