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In-House Health Raises $4 Million Seed Round, Unveils AI-Powered Scheduling Platform to Combat Nurse Shortage Crisis
May 8, 2024
In-House Health, co-founded by Ari Brenner, Sergey Vasilenko, and Shachar Har Zvi, has launched an AI-driven scheduling and management platform designed to revolutionize nursing team operations. The platform, which aims to improve the nursing experience and hospital efficiency, has secured $5.4 million in funding, with a $4 million seed round led by NEA and TMV. By leveraging millions of patient records, the AI algorithm predicts staffing needs and reduces scheduling time by over 50%, cutting labor costs by 10%. This innovation addresses the critical challenge of workforce shortages and high operational costs in healthcare.

DENVER-Today, In-House Health is announcing the formal launch of its AI-driven scheduling and management platform for modern nursing teams. The company has recently raised $4 million in seed funding led by NEA and TMV, with participation from pre-seed investors Vine Ventures and Longevity Venture Partners, bringing total investment to-date to $5.4 million.

In-House Health was co-founded in 2023 by two healthcare professionals and a technical leader: Ari Brenner, Sergey Vasilenko and Shachar Har Zvi. Brenner previously served as Co-Founder and COO of Stellar Health, a healthcare technology company that works with payors and health systems to manage their value-based activities, while Vasilenko was a former critical care nurse who later transitioned to EMR/clinical informatics. Har Zvi joined from Google, where he was a Technical Lead. In-House Health was born from firsthand experiences with inefficiencies in hospital staff management and how they could be solved through technology.

Nurse team leaders spend more than 15 hours a week managing shift schedules, buried in repetitive drag-and-drop screens, or even pen, paper and whiteboards. Additionally, while many hospitals typically employ thousands of employees, they often operate as regional silos. As a result, they are faced with unpredictable demand and challenges managing their employees, while constantly playing catch-up in response to changing circumstances.

In-House Health addresses this challenge by working closely with hospitals and providers to streamline staffing workflows. In-House’s AI algorithm is trained on millions of patient records to identify patterns of bedside care and anticipate shift changes weeks earlier than is normally possible. As a result, the algorithm can shorten hours spent on scheduling by half or more and reduce labor costs by over 10% across-the-board, amid the growing crisis of workforce shortage and spiraling costs to deliver care.

“Saving manager time on scheduling is a huge win and relieves burnout among nursing leaders, but the real prize is improved staffing outcomes,” explained Brenner. “When hospitals fail to properly predict the future, it costs money in overtime pay and agency use. We can reduce both through precision staffing.”

James Kerridge, DNP, Associate Chief Nurse, Chicago VA Medical Center and Board Member with the Illinois Organization of Nurse Leaders, joined In-House’s Nursing Advisory Board more than a year ago to help shape its product and clinical strategy.

“In-House’s platform makes it easy for hospitals to schedule adaptively. This unlocks control over schedule and flexibility that is now critical to keep nurses satisfied and reduce burnout associated with last-minute changes,” said Kerridge.

In-House has experienced quick adoption from hospital executives and bedside nurses alike. Its system currently delivers scheduling and clinical insights to the management of more than 800 nurses.

“At NEA, across our current and historical portfolio, we have deep experience across healthcare staffing markets. While there have been prior attempts to disrupt this market, we believe In-House’s focus on cutting reliance on third-party agencies and offering real-time clinical demand prediction is unique,” said Blake Wu, Partner at NEA. “We view this as a prime opportunity to back a category-defining clinical workforce optimization company and are excited to watch In-House lead the way in modernizing hospital staffing.”

“One of our central themes at TMV is to invest in businesses transforming the future of the healthcare workforce,” explained Soraya Darabi, Co-founder and General Partner at TMV. “The bar is very high for hospital systems to purchase outside technology. In-House Health is distinctive in that they are a win for the nurse experience as well as the hospital bottom line.”

About In-House Health

In-House Health is an AI-powered tech platform for modern nursing teams. Today, nurse staffing and scheduling is a manual, time-consuming process that often ineffectively distributes an increasingly strained workforce. In-House uses predictive analytics and automatic scheduling tools to guide nurse leaders, improving team experience at the bedside, patient safety, and financial outcomes. www.inhouse.health.

About NEA

New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm's founding in 1977, NEA invests in technology and healthcare companies at all stages in a company's lifecycle, from seed stage through IPO. The firm's long track record of successful investing includes more than 230 portfolio company IPOs and more than 390 mergers and acquisitions. www.nea.com.

About TMV

TMV is an early-stage venture firm investing in the world's leading entrepreneurs reshaping legacy industries through tech-enabled innovation. Founded in 2016, TMV empowers founders with the capital and go-to-market bench required to reach critical inflection points and scale. With partners on the ground in New York, Chicago, Miami and London, TMV offers a global alliance for the leaders of tomorrow. www.tmv.vc.
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