CareRev

CareRev is a labor marketplace offering a cloud-based platform that connects hospitals and healthcare institutions with vetted healthcare professionals. The platform operates a hybrid marketplace that allows internal employees the opportunity to accept a shift prior to offering external employees.  

In June 2023, CareRev introduced Smart Rates, an AI-based system that adjusts wages for healthcare facilities based on economic, performance, and market data, aiming to improve staffing management and reduce the time taken to fill shifts. The system, integrated into the CareRev platform, provides optimized rate recommendations for upcoming shifts, considering factors such as regional pay rates, shift type, and length, and can adjust shift rates between -10%, 0%, and +10% of the facility-determined base rate. Additionally, CareRev is set to lay off approximately a third of its staff, equating to around 100 employees, as it aims to ensure long-term sustainability and scalability. This follows the recent resignation of the company's co-founder and CEO, Will Patterson, and the appointment of health tech veteran Brandon Atkinson as the new chief executive. In September 2023 , CareRev introduced its “Reliability Score” metric, which tracks healthcare professionals’ work ethic. The system aims to reduce shift cancellations and ensure a higher percentage of shifts are filled.

Key customers and partnerships

As of April 2021, the company supports over 11,000 registered nurses, certified nursing assistants, medical assistants, and surgical radiologic technicians on its platform. Its clients include more than 500 outpatient clinics at 30 hospitals and health systems including SSM Health in St.Louis and Froedtert Health in Milwaukee. 

In March 2023, CareRev expanded its freelancing services to Delaware through a partnership with Beebe Healthcare. Beebe Healthcare will use CareRev's technology to identify and hire qualified local talent to support their full-time hospital staff, with staffing managers being able to announce open shifts in real time on CareRev's platform.