With $6.3 million in seed funding, CareRev gives more control to hospitals and more money to frontline care providers while pandemic’s impact remains uncertain
VENICE, Calif. -- October 23, 2020 -- CareRev, founded in 2015 to prepare the healthcare industry for the future of work, has seen growth accelerate dramatically as American hospitals and healthcare systems struggle to meet the demands of COVID-19 while simultaneously evolving care protocols for routine healthcare. The labor transformation solution was built by a Registered Nurse (RN) to streamline shifting labor needs; CareRev enables healthcare systems to optimize their workforce and increase operating margins while also empowering healthcare professionals to take control of their careers and earnings. Since the pandemic began in March, CareRev has helped fill nearly 15,000 shifts nationwide, putting over $4 million dollars in nurses’ pockets and securing new partnerships with Broward Health (Florida), Froedtert Health (Wisconsin) and SSM Health (Missouri).
“CareRev was born when I realized I could call a ride, order groceries and get delivery through a mobile app, but nothing so simple existed for scheduling per diem shifts that were key to managing my career and paying off school loans,” said Will Patterson, former trauma RN and CEO/co-founder of CareRev. “The goal was to simplify communication between healthcare systems and the myriad caregivers who treat patients, and today’s COVID reality makes our fast and flexible solution as essential as the nurses and other caregivers on the frontline of this crisis.”
As the country prepares for the third wave of COVID-19 to surge across the nation, technology companies like CareRev are helping hospitals navigate an expected increase in case count -- specifically in metros where coronavirus cases are rising the fastest. Policies around opening businesses and schools, mask wearing and other protocols are decided at county or state levels, healthcare systems and their frontline workers are the ones who need to be ready to react to rising infection rates
Of the nearly 15,000 shifts CareRev has helped fill since March, Certified Nursing Assistants are the most requested, followed by Telemetry RNs, and RNs for the Intensive Care Unit. Overall, positions were filled across dozens of specialties from respiratory therapists to psych nurses to surgical techs, and for all types of shifts.
Prior to CareRev, healthcare systems had to balance staffing needs through a solution of full-time employees, part time staff, travel nurses and staffing agencies whose primary role is to slot in to cover changing needs. The puzzle was complicated and the cost extremely high, all while the nurses and other caregivers had very little control or insight into scheduling and earnings.
“CareRev has provided me the freedom to choose where I work, when, and for whom while making more money per shift,” said April Duncan, a Certified Nursing Assistant in Southern California. “CareRev is a far superior experience than any staffing agency I’ve worked with. It’s truly changed my life.”
CareRev creates a more flexible, efficient workforce, increases operating margins for healthcare institutions, and improves retention and recruitment all through lightweight mobile technology.
"We are excited to partner with CareRev for the opportunity to take practical innovation and apply it towards our goal of creating an on-demand workforce - without the cost and time burden of doing it ourselves,” said Grady Brimley, VP of Health Care Transformation at SSM Health. “With their dedication to streamlining onboarding and getting qualified healthcare professionals in the door faster, we now feel confident about reducing our reliance on costly long-term travel contracts while leveraging our local community of quality professionals."
How it Works:
CareRev’s mobile-friendly technology allows hiring managers to post shifts to their internal resource pool and, when needed, cascade them to CareRev’s local pool of professionals. To make it even easier, implementation is fast, configured to each system or department’s needs, and doesn’t require an IT resource. The benefits are immediate:
Healthcare systems can quickly and easily:
"CareRev is transforming our workforce by giving us a cost effective and flexible staffing option that allows us to efficiently address fluctuating patient volumes. We can more fully optimize our internal clinical staff while utilizing what is, in effect, our own qualified local per diem pool, as needed,” said Eric Humphrey, Senior Vice President and CHRO of Froedtert Health. “After just a few months, CareRev has already helped us reduce our dependence on costly travel contracts. We’re looking forward to even more savings and efficiency in the future."
Frontline Healthcare Professionals get:
“There is no paperwork for payroll and there has not been a single error in pay. I am able to advocate for myself directly at facilities and have the freedom of choice to be hired directly by the facilities I work at, if I so choose,” continued Duncan. “ However, given the high pay rate and freedom I have working through CareRev, I have no desire to do so. I really do think that the CareRev system/platform is perfect.”