Teachers are feeling the strain of the pandemic more than ever. With Covid-19 fatigue leading to a nursing industry shortage of 500,000, and another million retiring in the coming years, it’s no surprise that healthcare organizations are struggling to manage their staffing needs.
Thankfully, there’s a new solution on the horizon. DropStat, an AI-powered workforce automation platform, is working to improve healthcare staffing with their recently raised $5.5 million seed round led by Panoramic Ventures.
DropStat aims to use technology to create products and systems that enable safe care and staffing, while also helping healthcare organizations better manage their staffing needs. The platform predicts staffing requirements, visualizes and accesses staff across multiple systems, fills shift gaps with cost and safety in mind, and builds internal float teams and agencies.
It also integrates with other travel and shift marketplaces using open APIs. Plus, its cost management technology ensures in-house resources are used before high-cost labour options. It provides business intelligence platforms and churn prediction technology, as well as proprietary staffing feedback to help healthcare companies build stronger teams, fill more shifts, and spend less.
CEO of DropStat, Sara Well, said: “The growing labour shortage negatively impacts patient outcomes and increases wait times and the cost of care, threatening to create a public health crisis. Healthcare facilities must be empowered to build stronger teams and reduce reliance on high-priced outsourced labour.”
General Partner of Panoramic Ventures, Paul Iaffaldano, added: “Dropstat helps healthcare facilities solve nurse shortages. The secret is that the software gives nurses more control over their schedule, which makes them happier to work more shifts. It also helps a facility understand much earlier in the process when they will need outside help. That awareness drives down the cost of labour and makes staff more satisfied with their work environment.”
DropStat’s innovative technology is a much-needed solution for an industry that’s been pushed to its limits during the pandemic. Their AI-powered platform is offering healthcare organizations an efficient way to fill shift gaps and reduce reliance on high-cost labour. With the new funding, they’re looking to expand their services to over 50 markets across the US. Educators and healthcare organizations can rest assured that this technology is here to help them better manage their staffing needs and ensure safe care.
