Healthcare Staffing Report: May 13, 2021

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CareRev, an on-demand healthcare staffing platform, announces $50 million funding round

CareRev, an on-demand provider of per diem healthcare clinicians, announced a $50 million series A funding round.

The Los Angeles-based company enables hospitals and other healthcare providers to access staff from their own internal resource pools or from CareRev’s pool of healthcare professionals. It offers a mobile app that enables clinicians to choose shifts.

CareRev was formed in 2015 by CEO Will Patterson, who had served as a trauma nurse. Today, the company’s clients include more than 30 hospitals and health systems. It reported that more than 11,000 clinicians use its platform, including registered nurses, certified nursing assistants, medical assistants and surgical and radiologic technicians.

“When the pandemic hit, we were ready to help both hospitals and healthcare professionals through the uncertainty,” Patterson said. “Our vision is to build a more resilient post-Covid workforce in which health systems can tap into a latent supply of local, flexible healthcare professionals when they need them, and professionals are empowered to work where and when they want.”

Patterson noted the company has doubled its revenue in the past six months.

The funding round will go toward scaling CareRev’s product and operations, including incorporating more AI and machine learning.

The funding round was led by Transformation Capital.

“CareRev’s scalable, differentiated approach — including intuitive technology for the two-sided marketplace — has showed us that the traditional, expensive and resource-intensive staffing agencies are a thing of the past,” said Jared Kesselheim, MD, managing partner at Transformation Capital.