ShiftPosts

Platform for Healthcare "Gig" Workers

Company Information

Website:

https://shiftposts.com/

Sector:

Healthcare Software

Location:

Stillwater, MN

ShiftPosts is a workforce-management platform for the healthcare industry.

The company’s team has more than 125 years of executive healthcare experience, and includes the former CEO of Sutter Health, and former CEO of NovoLogix and RxHub.

ShiftPosts was designed to meet the needs of healthcare workers who are part of the “gig” economy.

Many marketplaces exist to earn a living by working temporary jobs, from Uber to Postmates.

But perhaps surprisingly, healthcare is a gig economy, too — especially for those who work at pharmacies or emergency rooms. Most health care workers are on contract for a certain period of time. And finding, sourcing, and validating the credentials of these workers can be a challenge.

ShiftPosts is a solution for healthcare staffing in the gig economy. And it’s aiming to disrupt the healthcare market, starting with pharmacies in Canada.

This is a huge sector. There are 11,000 pharmacies in the country. And these businesses have an average of four shifts to fill per month. That’s more than 500,000 shifts a year.

But filling these shifts can be problematic.

For one, a number of workers are self-represented, meaning they create their own resumes and apply for open positions. As a result, their skills and accreditations often aren’t validated — which is dangerous in the healthcare industry.

For another, tools like Microsoft Excel can help pharmacies determine when shifts need to be filled. But they don’t offer any insight or help with respect to finding qualified workers.

Pharmacies and pharmacists rely on agencies to fill open positions. But agencies charge pharmacies as much as 50% more than the wage offered to the worker. Agencies seek the lowest wage candidate to extract higher fees. And this can result in an under-qualified, under-skilled, unknown pharmacist being placed in a role.

Meanwhile, pharmacists have to wait weeks for a job — and longer for payment — and there’s no transparency between agencies and pharmacies. This makes matching workers with pharmacies similar to a blind date.

ShiftPosts’ platform helps solve these issues. Its solution has the following benefits:

• Time and Cost Savings: Pharmacies pay 40% to 50% less, pharmacists earn 15% to 20% more, and a process that used to take days or weeks now takes a few minutes.

• Visibility and Transparency: Pharmacists can easily see where staff are needed and who is available. They can view matches instantly, review pharmacist profiles and skills, and approve them in one step.

• Authentication: All candidates are pre-screened and all skills are validated.

• Centralized or Distributed: Pharmacists can post skill-based shifts for individual or multiple locations. And they can fill gaps with permanent or temporary staff.

Here’s how the process works:

1. Post a Shift: First, a pharmacy posts an open shift on the platform. Eligible pharmacists are immediately notified through ShiftPosts’ mobile app.

2. Review Matches: Next, the pharmacy sees a list of qualified candidates, reviews profiles, and selects a match.

3. Shift is Filled: Finally, the pharmacist who has been selected receives a notification and is given all the necessary information.

“I have always been wary of using ‘relief agencies’ to find shifts as they are known to undercut pharmacists,” noted Rita Bukhari, a pharmacist. “ShiftPosts has to be the only service that is 100% transparent and you take home 100% of your earnings.”

To generate revenue, ShiftPosts offers a pay-as-you-go option. This is $50 per shift, paid by the pharmacy. In addition, the company earns commissions through its partners for completing tasks such as background checks.

In the future, ShiftPosts will create subscriptions for corporate and non-corporate stores (these will range from $25 to $80 per store per month).

ShiftPosts has agreements with major retailers and associations in Canada. This includes:

• McKesson: Canada’s largest pharmaceutical retail network with 2,600 stores.

• British Columbia: A pharmacy association with 1,300 stores.

• PharmaChoice: A member retail network with 850 stores.

The company also has pilot programs with 210 additional pharmacies, and more than 1,200 pharmacies in its pipeline (including those in Walmart and Costco retail stores).

To attract more pharmacists to its platform, ShiftPosts plans to target universities, student associations, and social media platforms like LinkedIn. To attract pharmacies, the company will target corporate partnerships, trade shows, and referral programs.

Team Background

Pat Fry - Board Member

Pat is the former President and CEO of Sutter Health, a healthcare company serving more than 200 clinics and 24 hospitals in Northern California. Under his leadership, the company increased its revenues from $6 billion to more than $10 billion.

He spent nearly 40 years with Sutter Health, and earned a Master’s degree in Healthcare Administration Management from George Washington University.

Dave McLean - Co-CEO & Board Member

Dave has more than 40 years of health care services experience.

Most recently, he was CEO of Medication Management Systems, a telehealth services company he sold in 2017. Before that, he held CEO roles at a trio of healthcare companies: NovoLogix, RxHub, and United Resource Networks.

Dave began his career as a pharmacist.

Ryan Mace - Director of Sales

Ryan has 15 years of sales and marketing experience.

He began his career with Seneca One Finance, working as a corporate training manager. He then studied to earn his MBA at the University of Maryland.

After earning his degree, he spent two years with PepsiCo, a beverage company, serving as a product marketing manager. He joined ShiftPosts in March 2020.

David Beynon - Co-founder & Head of IT

David is an engineer who brings 14 years of project management and business analysis experience.

Prior to starting ShiftPosts, he worked at Honda and 3M, and most recently was an IT project manager with Jolera, a Canada-based computer support company.

Bartek Jach - Co-Founder & Head of Marketing

Bartek began his career as a quality assurance engineer with URS Corporation, a civil engineering company. From there, he became a quality control engineer with AECOM, another civil engineering company.

More recently, he was an associate with McKinsey & Company, a prominent management consulting company. He left this role to start ShiftPosts in 2019.

Bartek earned a Bachelor’s degree in Civil Engineering and a Master’s degree in Environmental Computer Systems from Ryerson University. He also holds an MBA.

Mike Miles - Chief Financial Officer

Mike has broad experience in corporate finance, having served as Chief Financial Officer for nine high-growth healthcare companies.

His experience ranges from pharmaceutical companies, to clinical trials, to medical devices.

Elizabeth Cooper - Chairman & Co-CEO

Elizabeth has guided more than 50 startups throughout her career, and worked with venture capital firms including Accel Partners, NEA, Mohr Davidow, and Draper Ventures.

Early on, she spent seven years with International Data Group, a technology publishing company, where she served as Vice President of Business Development.

From there, she was Managing Director for Young & Rubicam, a marketing and advertising company. She then co-founded Lakshimi Venture Partners, an investment firm.

More recently, Elizabeth was Chief Operating Officer of Lifeline Response, a personal security technology company. She also served as co-chairman of the Joyful Heart Foundation.

She earned a Bachelor’s degree in Biochemistry and Economics from the University of California, Davis.

Co-Investors

Raising
$2.5 million
Committed
$2.388 million (96%)
Current Valuation
$4 million Cap / 0% Discount
Min. Investment
$1000
Deal Type
Title III
(For all investors)
Offering Type
Convertible Debt
Finance History
Notable Investors
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