Incredible Health

Incredible Health rakes in $80M to combat the nursing shortage

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Nurse staffing platform Unbelievable Well being acquired an enormous enhance on Thursday to assist it battle healthcare’s workforce scarcity — the corporate an $80 million Sequence B funding spherical led by Base10 Companions.

The spherical brings Unbelievable Well being’s complete funding to this point 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, Unbelievable Well being’s CEO and co-founder, stated in an interview. Hospitals apply on to nurses, slightly than the opposite method round.

On the platform, hospitals get matched with everlasting nurse hires in a median of lower than 14 days, in comparison with the business common of 82 days, in accordance with Abuzeid. She stated an interview request is distributed from a healthcare employer to a nurse each 30 seconds.

Abuzeid additionally claimed that Unbelievable 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 expertise, together with particular intensive care unit and working room expertise.

The San Francisco-based startup expenses employers for using its platform, however nurses use it without spending a dime. About 10,000 nurses be a part of Unbelievable Well being each week, Abuzeid declared.

She added that 600 hospitals use Unbelievable Well being for staffing, together with Kaiser Permanente, Stanford Well being Care, HCA Healthcare, Windfall, Johns Hopkins Medication, Cedars-Sinai Medical Middle and NYU Langone Well being.

Every hospital location that makes use of the platform saves a minimum of $2 million per yr in prices for journey nurses, extra time and human assets, in accordance with Abuzeid.

Whereas Unbelievable Well being not directly competes with job boards corresponding 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 Unbelievable Well being has a bonus over conventional nurse recruitment companies that don’t use automation software program for scale and velocity.

The corporate additionally differentiates itself from different venture-backed healthcare staffing corporations, corresponding to Nomad Well being and IntelyCare, as a result of it’s centered on filling everlasting positions as an alternative 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 occupation had seen in additional than 4 a long time.

Although 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 Unbelievable Well being goals to vary, she stated.

Unbelievable Well being will use the funds it raised to reinforce its screening and matching algorithms and increase its providers to achieve 90% of the nation’s nurse workforce, Abuzeid stated.

The corporate can even make the most of a few of the funds to strengthen the skilled assets it affords to nurses, together with academic scholarships, expertise development programs and relocation help.

Abuzeid added that these options make Unbelievable Well being not only a place for nurses to search out jobs, but in addition a spot for them to handle their careers.

Going ahead, Abuzeid stated Unbelievable Well being has plans to increase its staffing capabilities past nursing to different forms of healthcare staff dealing with vital staffing shortages, corresponding to dwelling 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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