Healthcare facilities are addressing staffing needs and reducing overall expenditures with ShiftMed, which combines innovative workforce technology with the largest W-2 workforce marketplace. ShiftMed connects over 2,000 healthcare facilities to 350,000 credentialed nursing providers and gives facilities the ability to manage an entire workforce ecosystem more efficiently in one platform. For more information, visit www.shiftmed.com.
Todd began his career in digital media and interactive marketing space with leadership roles at Weather.com, AOL, and LEADS.com, which was acquired by AOL.
Todd’s journey in healthcare began when he was helping his grandmother find an assisted living facility in Philadelphia. It took four long months, with multiple emails and phone calls with multiple facilities, trying to sort through dated brochures to find a suitable provider. Todd decided to build a digital solution to connect seniors with healthcare facility providers so he could save others the long and painful search for a senior care facility.
“I wanted to basically try to shave off four months of my life that I spent for other people on a pay-it-forward basis,” Todd shared. “So I started a company called seniorliving.net, and we had relationships with about 15,000 assisted living post-acute brands and locations.”
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Todd went on to start Homecare.com which helps seniors find high-quality assisted living facilities and nursing homes.
As Todd worked with the healthcare facilities, he realized that they were struggling to find qualified nurses to fill the shifts.
“There aren’t enough nurses in total to meet the patient needs in the US. We are about a million nurses short, and that is going to go to 3-4 million over the next 2-3 years.”
Source - Todd’s conversation with Kashyap Deorah and Gaurav Deshpande for the leader’s journey meeting for the Top 50 Leaders nomination, Jan 26, 2024
This pressing need led to the birth of ShiftMed. ShiftMed connects over 2,000 healthcare facilities to 350,000 credentialed nursing providers and gives facilities the ability to manage an entire workforce ecosystem more efficiently in one platform
There are four key business needs for the healthcare staffing industry delivered by an integrated platform with ShiftMed.
ShiftMed has over 350,000 nurses on the platform, with over 100,000 shifts offered per week offering the workers flexibility to choose when and where they work, while delivering outstanding fill rates for healthcare facilities with qualified nurses.
ShiftMed platform serves the entire spectrum of healthcare staffing needs providing credentialed nurses for acute care, post-acute care and in-home care.
Before ShiftMed, the hospitals, assisted living and nursing home facilities struggled to find workers to fill the shifts, turning to the traditional healthcare staffing providers such as AMN Healthcare. These traditional staffing providers offer travel nurses at a steep hourly rate for 90-day assignments. As the nurses are traveling for the assignment, they aren’t likely to stay on after the assignment is over, requiring the facility provider to look for a substitute to cover future shifts. With ShiftMed, the facility providers connect with local nurses, who can come on board to fill the shifts and can have a path to a full-time position at the care facility, meeting both the short-term and the long-term needs of the provider.
ShiftMed provides W-2 workers for the healthcare providers vs 1099 or independent contractors offered by other App-based healthcare staffing companies. W-2 workers from ShiftMed have workers’s comp insurance and their credentials are integrated into the healthcare providers’ systems and available digitally for surveyors when needed. Over years, ShiftMed has integrated into every major ERP and scheduling system at a healthcare facility, offering the administrators the ability to schedule the ShiftMed workers from their system, issue badges as they would for regular employees and have time and attendance reported in their own systems. ShiftMed has eliminated all of the friction for hiring a temporary worker, while creating a path for the facility to hire the worker full-time as needed.
For the nurses, ShiftMed supports the flexibility of being able to pick up a couple of shifts every week or work full time with ShiftMed with the guaranteed shifts program.
ShiftMed team is going deeper into the healthcare industry with integration into the scheduling, time, and attendance systems for the healthcare providers. ShiftMed is also going wider, adding new capabilities such as radiologists for the MRI machines while retraining CNAs (Certified Nurse Assistant) for acute care, allowing them to pick up higher-paying Acute CNA jobs.
Healthcare providers are also able to create their own ShiftMed marketplace, allowing the workers to pick shifts across their facilities offering better fill rates while meeting the need of workers who need flexibility in choosing their time and place of work.
Todd Walrath, CEO and Founder of ShiftMed, joined host Eric Thrailkill to describe how his experience working in media inspired his use of telecommunication to deliver effective healthcare, and helped him communicate empathetically with nurses and healthcare professionals.
Panoramic led the raise with participation from Blue Heron and Audacious.
Women should no longer be thought of as a niche. In fact, they’re one of the most significant growth markets we’ve ever seen.
In an interactive session at the Becker's 11th CEO + CFO Roundtable, Seth Lovell, BSN, RN, system vice president of nursing for SSM Health, and Todd Walrath, CEO and founder of ShiftMed, discussed the benefits of on-demand healthcare staffing.
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Stay up-to-date on ShiftMed's latest developments and partnerships with our latest press releases.