RN RN is a nurse-led tech-forward business based in Southwest Florida which has developed a platform that can quickly revolutionize the travel nurse industry. RN RN has been operating since 2018, and the experience of co-founders Jason Thomas and John Williams has enabled them to develop and refine a "Version 2.0" of an efficient, effective digital portal for travel nurse recruitment.
RN RN's proprietary AI system analyzes the thousands of travel nurse jobs that are posted daily. It updates the jobs and creates accurate quotes in minutes. RN RN will provide exactly what nurses need when they are looking for new assignments. At the same time, the platform solves the problem of recruiter burnout by providing the best, newest jobs and cutting through the maze of thousands of less-than-optimal jobs. RN RN also greatly shortens nurse application times and streamlines their process.
Problem:
In past years, travel nurses were loyal to recruitment companies. But as the field has grown exponentially in recent years, nurses are now aware they can command higher rates and look for the best prices for their services. Present-day recruitment companies and industry leaders haven't responded to today's travel nurse market. Their portals contain thousands of jobs, many of which aren't attractive or suitable for the majority of nurses seeking travel nurse positions.
· For nurses: There are thousands of jobs every day – it’s time-consuming and sometimes almost impossible to obtain quotes for desirable jobs.
· For recruiters: There are thousands of jobs every day and matching candidates is time-consuming and sometimes almost impossible. On average, recruiters burn out within only four months. They must make hundreds of calls a day to place a single candidate.
· For hiring partners: Their jobs can easily be lost among the thousands crowding job portals, and they face the same challenges as recruiters in obtaining qualified applicants.
The current industry uses time-consuming and data-overwhelmed tech systems that don't support the needs of nurses, recruiters, or hiring partners, including hospitals and clinics.
The Opportunity: The travel nurse industry was a $21.8 billion industry in 2021, anticipated to grow by 5.8% a year between now and 2025. However, the industry has been burdened by technology that gets in the way of efficient nurse placements. Many industry operators began in the days before mobile technology was commonplace, and their technology doesn't use AI or machine learning to improve processes. Putting nurses first with a placement tech that has been developed and designed by nurses for nurses, can disrupt the industry, capitalizing on the slower, less-effective systems used by competitors.
RN RN is a Florida LLC owned by Jason Thomas and John Williams Solution:
RN RN has developed its own AI-driven technology that analyzes thousands of travel nurse jobs a day and identifies only the top jobs. The business goal is to assist nurses and recruiters to benefit from the most efficient, effective, and transparent placement system.
The platform and its efficiency will attract the best nurses. The business can make the most effective placements using its combination of industry experience and expertise and intelligent technology, analyzing and processing 5,000 jobs in 30 minutes. This performance is possible based on years of experience and data.
RN RN is like a travel nurse job sniper, quickly identifying the exact right job for the exact right candidate in the shortest possible period of time.
Market Size: Travel nurse agencies are the largest revenue segment of the healthcare staffing industry, which is estimated to reach $21.8 billion in revenue by 2025. The market is expected to grow at a rate of 4.9% a year over the next five years according to IBISWorld Reports. Growth is driven by government healthcare funding along with demographic trends, including the aging population. An estimated 75 million people are part of the "Baby Boom" generation, and as Boomers continue to age and retire, they require more nursing and healthcare. These factors guarantee a strong and growing market for RN RN and travel nurses.
Marketing and Distribution: RN RN will market its services to travel nurses through a state-of-the art website along with appropriate and effective social media presence. The website will offer a portal for nurses to seek the best jobs and obtain accurate quotes as quickly as possible, much faster than competitors. In addition, RN RN is purchasing an existing travel nurse placement agency and will build upon that agency's contacts and contracts for placements. The business will join nurse staffing associations and other industry associations to promote its platform and build nurse placements to the goal of 400 to 500 nurses after 5 years of successful operation.
Target Market: The target market for RN RN are travel nurses who are seeking the best-paying jobs as quickly as possible. RN RN also serves healthcare industry businesses which hire travel nurses, including hospitals and clinics. Travel nursing increased by 30% in 2020 during the COVID-19 pandemic, and grew an additional 40% in 2021, according to Health Affairs.org. The current systems to serve travel nurses are slow, cumbersome, and so frustrating for recruiters that many recruiters burn out after only a few months in the profession. According to the American Nurses Association (ANA), there are 4.3 million registered nurses in the U.S. Retirements are currently outpacing new nurses entering the field. As a result, travel nurses who are continuing to practice can "write their own ticket" and are highly selective in the jobs they take. RN RN is serving travel nurses who want the best and best-paying jobs.
Competition and Competitive Advantages:
RN RN has competitors in the travel nurse placement industry, including industry leaders AMN Healthcare Services and CHG HealthCare Services. AMN Healthcare Services employs approximately 10,500 nurses annually with over 3,200 corporate partners and has approximately 11% of the travel nurse placements in the U.S.. They reported revenue of $2.4 billion in 2021. CHG HealthCare has approximately 8% of the travel nurse healthcare market, and reported revenue of $1.8 billion in 2021. Aya Healthcare was named "best staffing firm to work for" by the Staffing Industry Analysts in 2021, and reported revenue of $1.3 billion. Additional competitors include Cross Country Healthcare, which is headquartered in Boca Raton, FL, and has nurses employed in all 50 states. Florida-local Nightingale Nurses reported approximately $15 million in revenue in 2021, and placed nurses in all 50 states. The larger businesses were incorporated in the 1980s and 1990s, with the exception of Aya Healthcare, which was founded in 2001. RN RN's advantages are its proprietary AI-driven technology that can search through thousands of jobs in minutes to find the top jobs for travel nurses. RN RN's technology is built by nurses, for nurses. Competitor systems are clogged by thousands of jobs without any AI system to target the best jobs quickly. RN RN is competitive in speed, efficiency, and support for recruiters and nurses.
Management:
RN RN is led by Jason Thomas, who is a registered nurse with over 20 years of management and clinical experience. Mr. Thomas is an experienced healthcare industry leader and expert in recruiting travel nurses. He is assisted by CIO John Williams, who has a strong background in technology, recruiting, and sales, and Chris Cantanno, Manager, who has an extensive, 20-year background managing a travel nurse agency.
Objectives
The purpose of this plan is to provide investors or financial institutions with the information necessary to evaluate the scope and future growth of RN RN in the marketplace. In addition to serving as a roadmap for management, the plan will show that:
· a significant market opportunity exists as a result of the inefficient and frustrating systems for recruitment and placement in the travel nurse industry;
· the management team is committed, experienced and qualified to execute a well-thought-out operational, marketing and sales strategy, and
· the tech platform and efficiency will ensure a long-lasting, profitable business.
To achieve the Company’s objectives, RN RN is seeking $9,000,000 in total funding. The funding will be utilized in app development, business purchase, and marketing initiatives. RN RN’s financial model shows consistent growth for the brand over the next five years. By year five, plans call for the Company to achieve $393 million in annual gross revenue, with a net profit of $58.8 million or approximately 14.35%.