One year after raising a $4 million Series A round, Nomad Health is expanding its online doctor marketplace to nurses. Starting in Texas and soon nationwide, nurses can now use Nomad to find short-term clinical work in hospitals and health systems.
"Until Nomad, hiring in healthcare was broken. It was expensive, slow and opaque," Dr. Alexi Nazem, CEO and Co-Founder of Nomad Health, said in a statement. "We have made great progress on changing the dynamic for hiring doctors, and we are excited today to expand Nomad to millions of nurses across the United States so we can get to work solving nurse shortages."
The New York City-based Nomad Health was founded by a team of doctors and technologists to simplify the $15 billion temporary healthcare staffing industry in the United States. The company's service streamlines healthcare hiring by removing third party recruitment brokers and directly connecting clinicians to medical employers. As a result, Nomad Health reduces costs, increases hiring quality and speeds up the entire process for both sides of the healthcare marketplace. This new expansion to nurses will allow the company to serve a significant new segment of the temporary healthcare staffing market. Travel nursing alone represents 20% of that market, and demand is expected to increase substantially in coming years due to the worsening nurse shortage in the United States.
According to Bureau of Labor Statistics, U.S. Department of Labor, there is expected to be a shortage of 1.2 million Registered Nurses by 2022. This is driven chiefly by the aging Baby Boomer generation, which will be larger and sicker than any generation in American history.
Texas is one of the most understaffed healthcare markets in the country and the largest state in the Nurse Licensure Compact (NLC), which allows nurses with an NLC license to practice in any of the 25 NLC states. After launching in Texas, Nomad Health will roll out its freelance nursing product to states across the country throughout 2017 and 2018, mirroring the fast growth of its doctor market which launched in 2016 and is now live in 14 states.