Locum’s Nest secures £1.1m to help NHS solve staff and cash crises
The funding will be used to offer the mobile staffing platform nationally as an alternative to expensive agency contracts
Locum’s Nest, a mobile platform looking to help the NHS solve its staffing crisis and save much-needed cash, has raised £1.1m investment in a funding round led by Albion Capital and IDO Investments.
Founded by Dr Ahmed Shahrabani and Dr Nicholas Andreou, Locum’s Nest is hoping to “save the NHS millions” by matching available participating doctors with vacant hospital shifts, eliminating the need for trusts to use expensive locum agencies to fill rota gaps.
According to the start-up, Locum’s Nest has helped two NHS trusts save over £400,000 this year by enabling them to utilise their existing workforce through the platform’s no-contract, pay-as-you-go model.
With over 1,000 clinicians already signed up, Locum’s Nest now plans to use the investment to expand its service nationally and develop new functionalities for the platform.
With the NHS under strain in terms of both finding enough staff and funding its operations, Locum’s Nest is competing with other staffing platforms which offer potential solutions; including GPS Locums, a Startups 100-listed company, and Network Locum, which secured £5.3m funding in July 2016.
Dr Ahmed Shahrabani, co-founder of Locum’s Nest, added: “Doctors can’t be forced to work more shifts than they already do but through a combination of transparency, convenience and fun, Locum’s Nest has managed to make a very bureaucratic process much easier.
“We are thrilled to be working with Albion and IDO, with their industry expertise we are confident that Locum’s Nest can make a positive impact to the NHS at a national level.”
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Will Fraser-Allen, Deputy Managing Partner at Albion Capital, said: “We are excited about the contribution Locum’s Nest can make to the future of the healthcare service through improved patient care and combatting the funding challenges facing the NHS.
“The platform has the potential to grow rapidly and to be part of the digital revolution which is transforming healthcare.”