What You Ought to Know:
– At this time 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 resolve healthcare workforce points throughout a wide range of care settings, with an emphasis on increasing into well being programs.
Versatile Resolution for Staffing Scarcity
Traditionally, conventional staffing suppliers have centered on the journey nursing section because of the excessive margins the place a number of giant 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 staff as affected person wants and quantity continues to rise,” mentioned Todd Walrath, CEO of ShiftMed. “ShiftMed is positioned to supply well being programs with a regulatory compliant W-2 resolution that leverages native and part-time assets.”
Compared to different pricey workforce options, like journey nursing, ShiftMed offers entry to a database of over 350,000 W-2 healthcare professionals to supply well being programs a unified resolution to their workforce that will increase retention, creates versatile work alternatives, and reduces reliance on journey businesses.
ShiftMed offers entry to a neighborhood market with greater than 350,000 credentialed W-2 healthcare staff and an automatic workforce administration platform that uniquely permits acute, post-acute, and in-home suppliers to handle their assets dynamically. By utilizing cellular and cloud-based software program that gives workforce optimization, well being programs are in a position to provide a contemporary, unified resolution to their workforce that will increase retention, creates part-time work alternatives, and reduces reliance on journey businesses. ShiftMed additionally offers entry to further native employees, decreasing 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 programs to alter the labor framework to offer them management and predictability,” added Walrath.