Two healthcare workforce platforms have announced major cash infusions. ShiftKey, which allows nurses, certified medical assistants and clinicians to search for and take open shifts at skilled nursing facilities, senior living communities, clinics and hospitals, raised $300 million in a funding round sponsored by majority investor Lorient Capital.
“Nurses continue to choose to work on their own terms,” Tom Ellis, founder and CEO of ShiftKey, said in January. “Our vision is to empower nurses and other licensed professionals through the combination of our core marketplace product along with additional technology and tools such as scheduling, payments, education, and credentialing.”
In a similar vein, ShiftMed raised $200 million in February, led by healthcare investors Panoramic Ventures, with participation from Blue Heron Capital and Audacious Capital. Funds will be used to expand ShiftMed’s national footprint across all segments of the healthcare market, according to the firm.
“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 January, ShiftMed also introduced a new technology partnership with UKG, a provider of workforce management solutions. With this collaboration, organizations that use both ShiftMed and UKG Dimensions can access ShiftMed’s 350,000-plus contingent workforce and manage scheduling from one system. Once a facility’s open shift is claimed by one of ShiftMed’s healthcare professionals, that credentialed worker is automatically populated within UKG as an employee and assigned to the schedule. No manual input of employee data or schedule update is required by the administrator in UKG Dimensions.
“This is a collaboration we know will resonate with our healthcare facilities,” Walrath said. “In addition to making it easier than ever for facilities to gain access to highly qualified, on-demand labor to meet their staffing needs, we’re now simplifying how facilities apply and manage that labor.”
