SAN FRANCISCO, June 10, 2021 /PRNewswire/ -- Incredible Health, the fastest-growing, venture-backed career marketplace for healthcare workers, today announced a major milestone in its mission to radically transform how nurses are hired: it is now partnered with 60% of the top-ranked hospitals in the United States. This is a major moment for the platform, which raised its Series A financing round 18 months ago and has seen rapid expansion. Since the Series A, the company saw a 1000% increase in revenue, a 500% increase in nurse job placements, 100% customer retention, and net revenue retention of 200%, as existing customers doubled their hiring and spend on the platform.
At the end of 2019, Incredible Health was only available in Texas and California. Today, more than 350 hospitals nationwide, including major health systems such as Johns Hopkins Health System, HCA Healthcare, Stanford Health Care, Kaiser Permanente, Providence St. Joseph, Jefferson Health, Houston Methodist, Cedars-Sinai Medical Center and many others rely on Incredible Health to hire the best permanent nursing staff. Hospitals send an interview request every four minutes on the platform, flipping the script and giving healthcare workers unprecedented control over their careers.
"We started Incredible Health with the belief that the process for nurse hiring was fundamentally broken for both nurses and health facilities," said Incredible Health CEO and Co-founder Iman Abuzeid. "Our rapid growth over the last 18 months shows there is a new way to hire permanent nurses while delivering a delightful experience to both talent and employers. Nurses are the backbone of our healthcare system. They deserve more control over their professional careers and visibility into the options available to them, and hospitals need the technology to hire quickly. We bring these two priorities together, and our success underscores this urgent and huge need."
The category-defining platform now serves health systems that make up 50% of hospital beds in Texas and California, two states with the highest and second-highest number of hospital beds in the country. The company serves 65% and 70% of the hospital beds in major metropolitan areas like Los Angeles, CA and Dallas, TX, respectively. The largest and most prestigious hospitals in the U.S. across 14 states trust Incredible Health with one of their most important drivers of success: hiring enough permanent nurses to deliver high-quality patient care.
Even before COVID-19, the U.S. faced a major nursing shortage and nurses experienced higher rates of burnout and stress due to long hours and challenging work environments. The pandemic exacerbated these problems, and hospitals are now grappling with an unprecedented staffing challenge due to astoundingly high turnover rates. Thankfully nurses hired through Incredible Health have a 15% higher retention rate than nurses hired through traditional channels. To further support hospitals and healthcare systems, Incredible Health launched its Pandemic Hiring Suite which allowed customers to hire permanent, specialized nurses in less than 12 days, two products to help nurses combat stress and burnout, as well as data and analytics tools that allow talent teams to:
- Benchmark against anonymized peer organizations on hiring speed, utilization, salary data, and other metrics to ensure their hiring process is competitive
- Accurately forecast future hires to improve workforce planning
- Manage individual recruiter performance to optimize hiring operations
- Track how quickly candidates progress through the hiring funnel, so teams can optimize and get the staff they need faster
The number of nurses on the platform grew over 800% in the past 18 months, and thousands of nurses secured permanent roles with Incredible Health's tools. On average, Incredible Health saves each hospital they work with at least $2M per year per facility in travel nurse, overtime, and HR costs.
"Incredible Health has done an outstanding job building out both sides of its marketplace," said Jeff Jordan, general partner at Andreessen Horowitz and board member of Incredible Health. Jordan has invested in other notable marketplace platforms, including Airbnb, Instacart and OfferUp, and is the former CEO of OpenTable and former general manager of the eBay.com business. "Given the national focus on healthcare infrastructure and the healthcare talent shortage, the company's platform is quickly becoming the default choice for any hospital looking to recruit and hire permanent nurses."
"To do our best work, we need to have the talent to deliver quality care to those in need. With the ongoing shortage, it's taking our team longer than we'd like to find the ideal specialized, experienced candidates for hard-to-fill positions," said David Jones, Chief Human Resources Officer at Stanford Health Care. "With Incredible Health, we consistently hire in permanent roles in under three weeks."
To learn more about how Incredible Health helps hospitals hire, visit this link: https://www.incrediblehealth.com/employers/
About Incredible Health
As a career marketplace for permanent healthcare workers, Incredible Health puts nurses in the driver's seat. Hospitals apply directly to nurses rather than the other way around. The first and only platform to focus on permanent employees rather than contractors, Incredible Health is already used by over 350 top hospitals nationwide. Incredible Health's proprietary algorithm-based technology custom matches the needs of hospitals with the right nurses. Co-founded by MD and Wharton alum Iman Abuzeid and MIT alum from a family of nurses, Rome Portlock, Incredible Health is headquartered in San Francisco, CA, and operates nationally. For more information visit https://incrediblehealth.com.
Inkhouse for Incredible Health
SOURCE Incredible Health