Nomad Health Explained

Nomad Health
Type:Private
Founder:Alexi Nazem, MD (CEO)
Kevin P. Ryan (Chairman)
Zander Pease
Maxwell Laurans, MD
Ryan Grant, MD
Area Served:United States
Industry:Healthcare, Technology, Staffing
Services:Hiring
Foundation:2015
Location City:New York City
Location Country:U.S.
Homepage:nomadhealth.com

Nomad Health is an online marketplace that directly connects physicians, nurses, and medical facilities for healthcare jobs, without the involvement of third party employment agencies.[1] Nomad Health is based in New York City.[2]

Company history

Nomad Health was founded in 2015 by Dr. Alexi Nazem (CEO), Dr. Ryan Grant, Dr. Maxwell Laurans, Kevin P. Ryan (Chairman), and Zander Pease in New York City.[3] [4] [5] From its outset, Nomad Health was built to connect physicians and medical facilities directly online for clinical temporary work, also known as locum tenens.[6] The firm is a member of the Grand Central Tech startup accelerator program for the class of 2016 - 2017.[7] In July 2016, Nomad raised $4 million in Series A funding that valued it at nearly $20 million. First Round Capital and RRE Ventures led the funding round, with participation from .406 Ventures.[8] [9] [2]

The healthcare technology startup was mentioned in Fortune's 2017 list of 21 companies driving the digital health revolution.[10]

In February 2018, Nomad raised $12 million in Series B funding led by Polaris Partners. Existing investors First Round Capital, RRE Ventures, and 406 Ventures also participated.[11] [12] In August 2019, Nomad raised $34 million in Series C funding led by Icon Ventures.[13]

Service

Nomad Health operates in the temporary medical outsourcing industry, in a marketplace in which medical facilities and clinicians can find each other.[14] It makes money by charging commission fees to employers when people are hired as contractors, and competes with employment agency recruiters by setting its commission lower than theirs.[15]

In July 2017, Nomad Health expanded its platform to include nurses in addition to physicians.[16] [17] Then in November 2017, Nomad Health expanded to include telemedicine.[18] [19]

In February 2018, over 30,000 clinicians and 1,500 medical facilities were using Nomad Health. As of August 2019, over 100,000 clinicians and over 4,000 healthcare facilities are using Nomad Health.[20]

External links

Notes and References

  1. News: Nomad Health Raises $4M for Online Market Connecting Doctors, Hospitals. Gormley. Brian. 2016-07-26. Wall Street Journal. 2017-05-24. 0099-9660.
  2. Web site: Healthcare staffing startup backed by Business Insider co-founder views telemedicine as next market opportunity - MedCity News. medcitynews.com. en-US. 2017-05-24.
  3. Web site: Business Insider and Gilt founder Kevin Ryan wants to fix health care next. Recode.net. Recode. Del Rey. Jason.
  4. Web site: Digital health is helping to fuel the city's economy. CrainsNewYork.com. Crain's New York. LaMantia. Jonathan.
  5. News: Kevin Ryan, Co-Founder of Business Insider and Gilt Groupe, Tackles Healthcare. 2017-07-26. Inc.com. 2017-05-24. en.
  6. Web site: Nomad Health Freelance Clinicians PYMNTS.com. www.pymnts.com. en-US. 2017-05-24.
  7. Web site: This program gives hot startups free office space in New York City for a year — meet this year's winners. BusinessInsider.com. Business Insider. McAlone. Nathan.
  8. Web site: This doctor was so frustrated trying to find freelance work, he founded a company to make it easier. BusinessInsider.com. Business Insider. Hartmans. Avery.
  9. News: Nomad Health Raises $4 Million in Series A Led by First Round Capital and RRE Ventures. Yahoo Finance. 2017-05-24. en-US.
  10. Web site: Prepare for the Digital Health Revolution. Fortune.com. Fortune. Mukherjee. Sy.
  11. News: A doctor was so frustrated trying to find freelance work that he built a startup around it — and it just raised another $12 million. Business Insider. 2018-03-01.
  12. News: Nomad gets $12M to scale up, improve healthcare job portal. 2018-02-26. MobiHealthNews. 2018-03-01. en.
  13. Web site: Nomad Health Raises $34 Million in Funding . www.businesswire.com . 11 January 2021 . en . 15 August 2019.
  14. Web site: Nomad Health raises $4M for platform that helps doctors, nurses find freelance clinical work. MobiHealthNews.com. MobiHealth News. Mack. Heather.
  15. Web site: High-Tech Help for the Freelance Physician. The Wall Street Journal. The Wall Street Journal. Finley. Allsia.
  16. News: A startup that's tackling a massive healthcare crisis is moving in on a $7 billion market. Business Insider. 2017-07-11. en.
  17. News: Nomad Health expands online marketplace to nurses. Healthcare Dive. 2017-07-11. en-US.
  18. News: This Startup Is Bringing the Gig Economy to Health Care With Virtual Doctor Visits. Fortune. 2018-01-04. en.
  19. News: Nomad Health opens online job board to telehealth providers. 2017-11-20. MobiHealthNews. 2018-01-04. en.
  20. News: Nomad Health Raises $34 Million in Funding . www.businesswire.com . 15 August 2019 . en.

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