• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage
  • Life Sciences
  • Research

ShiftMed Raises $200M to Expand Nurse Staffing Marketplace

by Fred Pennic 02/06/2023 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print
ShiftMed Raises $200M to Expand Digital Healthcare Labor Marketplace

What You Should Know:

– Today ShiftMed, one of the largest W-2 healthcare workforce management platforms, announced $200M in funding led by Panoramic Ventures with participation from Blue Heron Capital and Audacious Capital. 

– ShiftMed plans to use the latest round of funding to help solve healthcare workforce issues across a variety of care settings, with an emphasis on expanding into health systems. 

Flexible Solution for Staffing Shortage

Historically, traditional staffing providers have focused on the travel nursing segment due to the high margins where several large players control the market. Travel nursing rates continue to exceed the budgets of national healthcare providers, which is unsustainable.  The sector has grown from $8B in 2020 to more than $13B in 2022.  Travel nurse providers are bleeding hospital system budgets while demoralizing in-house teams paid at lower rates.

“Healthcare providers continue to struggle with access to credentialed workers as patient needs and volume continues to rise,” said Todd Walrath, CEO of ShiftMed. “ShiftMed is positioned to provide health systems with a regulatory compliant W-2 solution that leverages local and part-time resources.”

In comparison to other costly workforce solutions, like travel nursing, ShiftMed provides access to a database of over 350,000 W-2 healthcare professionals to offer health systems a unified solution to their workforce that increases retention, creates flexible work opportunities, and decreases reliance on travel agencies.

ShiftMed provides access to a local marketplace with more than 350,000 credentialed W-2 healthcare workers and an automated workforce management platform that uniquely enables acute, post-acute, and in-home providers to manage their resources dynamically.  By using mobile and cloud-based software that provides workforce optimization, health systems are able to offer a modern, unified solution to their workforce that increases retention, creates part-time work opportunities, and decreases reliance on travel agencies.  ShiftMed also provides access to additional local staff, reducing operating costs by 30-40% compared to travel staffing alternatives.

“By diminishing reliance on travel nurses, ensuring a compliant W-2 workforce, and providing tools to increase retention, we see a path for large health systems to change the labor framework to give them control and predictability,” added Walrath.

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: cloud, Health Systems

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Insights

2025 EMR Software Pricing Guide

2025 EMR Software Pricing Guide

Featured Interview

Paradigm Shift in Diabetes Care with Studio Clinics: Q&A with Reach7 Founder Chun Yong

Most-Read

Medtronic to Separate Diabetes Business into New Standalone Company

Medtronic to Separate Diabetes Business into New Standalone Company

White House, IBM Partner to Fight COVID-19 Using Supercomputers

HHS Sets Pricing Targets for Trump’s EO on Most-Favored-Nation Drug Pricing

23andMe to Mine Genetic Data for Drug Discovery

Regeneron to Acquire Key 23andMe Assets for $256M, Pledges Continuity of Consumer Genome Services

CureIS Healthcare Sues Epic: Alleges Anti-Competitive Practices & Trade Secret Theft

The Evolving Role of Physician Advisors: Bridging the Gap Between Clinicians and Administrators

The Evolving Physician Advisor: From UM to Value-Based Care & AI

UnitedHealth Group Names Stephen Hemsley CEO as Andrew Witty Steps Down

UnitedHealth CEO Andrew Witty Steps Down, Stephen Hemsley Returns as CEO

Omada Health Files for IPO

Omada Health Files for IPO

Blue Cross Blue Shield of Massachusetts Launches "CloseKnit" Virtual-First Primary Care Option

Blue Cross Blue Shield of Massachusetts Launches “CloseKnit” Virtual-First Primary Care Option

Osteoboost Launches First FDA-Cleared Prescription Wearable Nationwide to Combat Low Bone Density

Osteoboost Launches First FDA-Cleared Prescription Wearable Nationwide to Combat Low Bone Density

2019 MedTech Breakthrough Award Category Winners Announced

MedTech Breakthrough Announces 2025 MedTech Breakthrough Award Winners

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |