Statistics reported by the Association of American Medical Colleges and others predict that the United States will be short 100,000 doctors and more than 1.2 million nurses by the year 2030. Indicators point to the aging Baby Boomer generation and rise in chronic ailments as the root causes. If this analysis leaves you a little frightened and/or wondering when you last took your vitamins, fear not: Nomad Health is working to change this nerve-wracking prediction, and just raised $12 million to do it.
Founded in 2015, Nomad Health established itself as the first online marketplace for jobs on the clinical side of healthcare. Doctors, nurses and healthcare employers can use the platform to directly interact with each other, thereby eliminating third-party involvement in a notoriously complicated hiring field.
“With Nomad, we set out to solve the severe clinician shortages in this country,” Dr. Alexi Nazem, co-founder and CEO of Nomad Health, said in a statement. The company has proven particularly useful when it comes to finding clinicians to fill temporary or telehealth needs. Rather than attempt to use outdated hiring systems to find a single nurse for a simple task, Nomad Health allows for an almost freelance-style flexibility for clinicians.
With Nomad, we set out to solve the severe clinician shortages in this country.”
Since its inception, Nomad Health had raised $4 million in its Series A round. On Tuesday, it was announced that an additional $12 million had been added to this pool, bringing the company’s total funding to $16 million.
The most recent venture round was lead by Polaris Partners, a major player in the health and biotech industry. Brian Chee, managing partner at Polaris, will also be joining the Nomad Health board of directors as part of the deal.
“Nomad Health is leading a revolution to change the very nature of healthcare human resources,” said Chee in a statement. “Nomad Health’s business can have a transformative, societal impact on the entire healthcare industry, and we are thrilled to join the effort to solve healthcare staffing shortages with cutting edge workforce technology solutions.”
Nomad Health’s business can have a transformative, societal impact on the entire healthcare industry.”
Other investors included First Round Capital, RRE Ventures, and .406 Ventures — all returning investors from Nomad Health’s 2016 Series A round.
Looking ahead, Dr. Nazem suggests that the company will use the latest funding round to exponentially expand Nomad Health’s outreach. “We have built a seamless digital experience that makes it simple and cost-effective for healthcare institutions to hire great clinicians in 12 states,” he said in a statement.
“Our goal has always been to bring this technology to bear across the country, and with this new infusion of capital, we can expand to all 50 states and hire new staff to propel our growth.” At this rate, speculators will be left asking “what doctor shortage?”