Nurse staffing platform Incredible Health bought an enormous increase on Thursday to assist it combat healthcare’s workforce scarcity — the corporate closed an $80 million Collection B funding spherical led by Base10 Partners.
The spherical brings Unimaginable Well being’s complete funding thus far to $97 million and raises its valuation to $1.65 billion.
Based in 2017, the corporate “places nurses within the driver’s seat,” Iman Abuzeid, Unimaginable Well being’s CEO and co-founder, stated in an interview. Hospitals apply on to nurses, slightly than the opposite manner round.
On the platform, hospitals get matched with everlasting nurse hires in a mean of lower than 14 days, in comparison with the business common of 82 days, based on Abuzeid. She stated an interview request is distributed from a healthcare employer to a nurse each 30 seconds.
Abuzeid additionally claimed that Unimaginable Well being is the one platform that makes use of automation to assist display screen nurses’ credentials and employment preferences. The corporate’s algorithms acknowledge greater than 70 specialties and 250 abilities, together with particular intensive care unit and working room abilities.
The San Francisco-based startup prices employers for using its platform, however nurses use it at no cost. About 10,000 nurses be part of Unimaginable Well being each week, Abuzeid declared.
She added that 600 hospitals use Unimaginable Well being for staffing, together with Kaiser Permanente, Stanford Health Care, HCA Healthcare, Providence, Johns Hopkins Medicine, Cedars-Sinai Medical Center and NYU Langone Health. Every hospital location that makes use of the platform saves at the least $2 million per 12 months in prices for journey nurses, additional time and human sources, based on Abuzeid.
Whereas Unimaginable Well being not directly competes with job boards equivalent to Certainly and LinkedIn, Abuzeid claims her firm is the one healthcare job matching platform that considers nurses’ credentials and preferences earlier than matching them with an employer. She additionally stated that Unimaginable Well being has a bonus over conventional nurse recruitment companies that don’t use automation software program for scale and pace.
The corporate additionally differentiates itself from different venture-backed healthcare staffing firms, equivalent to Nomad Health and IntelyCare, as a result of it’s targeted on filling everlasting positions as a substitute of non permanent staffing, Abuzeid stated.
The corporate’s funding comes at a vital time — greater than 100,00 registered nurses left the workforce in 2021, the worst exodus the career had seen in additional than 4 many years. Despite the fact that this worker deficit is dire, Abuzeid argues “the processes, instruments and know-how for hiring everlasting nurses haven’t modified in 20 years.” That’s what Unimaginable Well being goals to vary, she stated.
Unimaginable Well being will use the funds it raised to reinforce its screening and matching algorithms and broaden its companies to succeed in 90% of the nation’s nurse workforce, Abuzeid stated. The corporate can even make the most of among the funds to strengthen the skilled sources it presents to nurses, together with instructional scholarships, abilities development programs and relocation assist. Abuzeid added that these options make Unimaginable Well being not only a place for nurses to seek out jobs, but additionally a spot for them to handle their careers.
Going ahead, Abuzeid stated Unimaginable Well being has plans to increase its staffing capabilities past nursing to different sorts of healthcare staff going through vital staffing shortages, equivalent to house well being aids and laboratory technicians. The corporate additionally goals to widen its buyer base past hospitals to surgical facilities and pressing care amenities.
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