Thanks to big-name gig economy platforms like Uber and freelance platforms like Rivet, the idea of flexible work schedules has grown in popularity. As the Great Resignation continues to unfold, everyday employees are looking for more control in when and how they work, including doctors and nurses.
During the Covid-19 pandemic, nearly 20 percent of healthcare workers quit their jobs. Prior to the boom in vacancies, the shortage of healthcare workers was already on the rise. Data shows that in 2019, the United States had nearly 20,000 fewer doctors than required to meet the country’s healthcare needs.
Nomad Health, an online marketplace that connects healthcare workers with temporary positions, has been working to fill the growing void since 2015. This week, the company secured $105 million in debt and equity financing co-led by Adams Street Partners and Icon Ventures. This brings Nomad’s total funding raised to date to over $200 million, including a $12 million round back in 2018.
Through the Nomad platform, hospitals and clinics can list open temporary positions that interested nurses and allied health professionals — including those in dentistry, clinical psychology, pharmacy, medicine and optometry — can apply to in a freelance capacity, or if they simply need extra cash.
“In the past year, Nomad has experienced tremendous growth in a category we pioneered — connecting temporary healthcare workers to hospitals and healthcare systems seamlessly through technology,” Nomad Health CEO and co-founder Dr. Alexi Gharib Nazem said in a statement. “The Covid-19 pandemic has exposed and accelerated the healthcare workforce crisis that has been a powerful undercurrent in healthcare for decades. This 21st-century scale problem direly needs a 21st-century solution. Nomad can more efficiently, effectively and scalably serve clinicians of all types at health systems all across the country.”
Nazem told Built In via email that Nomad will use its fresh funding to expand its marketplace to reach more clinicians alongside plans to hire 300 additional employees to grow its current 550-person staff.
The push for expansion and mass hiring comes after a successful 2021 in which Nomad clinicians reportedly worked at over 1,000 healthcare facilities nationwide. The company’s current user base reaches over 250,000 healthcare workers who are actively applying for roles.
