IntelyCare raises $10.8m to cure nationwide nursing shortage
QUINCY, MASS: IntelyCare today announced a $10.8 million investment to expand development and adoption of its intelligent workforce management solution for post-acute healthcare facilities. The Series A round was led by Leerink Revelation Partners with participation from Longmeadow Capital, previous investor LRVHealth and Bill Mantzoukas, an entrepreneur who has owned and operated a series of skilled nursing facilities. This investment brings IntelyCare’s total funding to $14 million.
Through unparalleled matching technology powered by artificial intelligence (AI), IntelyCare removes the tedious and manual process of scheduling shifts at post-acute healthcare facilities. This is a challenge that facilities nationwide struggle with amid a growing shortage of nursing professionals and increasing demand for care driven by aging Baby Boomers. In fact, the U.S. Bureau of Labor Statistics predicts there will be nearly 1.2 million registered nurse vacancies by 2022, with nurses in home care, long-term care, outpatient and rehabilitation work settings needed most.
“The staffing shortage is a real challenge, and better allocation of nursing professionals – which can be done by giving them more freedom and flexibility to work where and when they want – needs to be part of the solution,” said David Coppins, co-founder and CEO of IntelyCare. “As a company that brings nursing professionals and healthcare facilities together to align their mutual interests, IntelyCare is a true partner for both sides that can ease administrative burdens, create a better work-life balance and, ultimately, improve patient care.”
With mandated staffing levels and a lack of nurses needed for required shifts, filling a schedule is a daily struggle for healthcare facilities. Administrators and schedulers constantly plead with employees to take extra hours and fill empty shifts, and then enlist multiple staffing agencies to fill the remaining gaps in coverage.
“Already overworked nurses are asked to cover multiple weekends per month or pull double-shifts, even at a moment’s notice, and that takes a toll,” said Chris Caulfield, RN, IntelyCare’s co-founder and Chief Nursing Officer. “I’ve seen industry-standard practices constantly lead to burnout and high turnover, especially in post-acute settings, and knew there was better way.”
