Fintech
Overture Announces the Launch of Their Healthcare Platform to Address the US Nursing Shortage
Atlanta, Georgia–(Newsfile Corp. – July 14, 2022) – Overture is excited to announce a one-of-a-kind healthcare platform and system that drastically improves the nursing shortage in the United States. The nursing shortage in the US was prevalent long before the pandemic hit, but it was nowhere near as widespread as it is today. During the pandemic, nurse burnout, stress, and workplace overload collided with true nursing passion. The nursing profession has had a difficult go in recent years, and as a result, more nurses are leaving the field, retiring, and finding better work and life balance elsewhere. With its innovative technology platform, Overture is aiming to reduce the disparity of nursing shortages by bringing healthcare providers and nurses together under a new paradigm.
Pre-pandemic, the U.S Bureau of Labor projected the need for 1.1 million new RNs for expansion and replacement of retirees to avoid nursing shortages by 2022.
Today, the US is still far from meeting that original forecasted need for nurses and the reality is that a much greater shortfall exists than what was projected then. Burnout, stress, workplace overload, and a lack of educators at the college level all amount to today’s shortfall being close to double that projection.
A large number of US hospitals now have limited nursing staff to care for their patients, causing them to be unable to fill their hospital beds. In addition, hospital top line revenues have been negatively affected by the nursing shortage. As a result of this shortage, third-party temp and per diem agencies are taking advantage of healthcare providers by charging extremely high hourly rates, sometimes over three times the normal rates.
With the number of nurses dramatically declining, revenues are decreasing, expenses are rising, and are all putting pressure on patient care. Solutions to date have not been effective or scalable.
Operating with a slogan directed to nurses to “balance your lifestyle with your work style,” and a clear message to healthcare providers to “reduce your operating costs while gaining maximum shift coverage,” Overture is ready to solve many aspects of these problems.
Rich Rosenzweig, Founder of Overture, says, “We must address the root causes of the current nursing shortage first. We have to greatly reduce what is causing burnout, reduce stress, and give our nurses a much better lifestyle and work style balance. We need to adopt this paradigm and introduce it into every aspect of a nurse’s career starting as early as our nursing school and college education system.”
“From there, we need to work with our healthcare providers to ensure that there can be enough nurses to cover their shift requirements if they are willing to embrace the new reality of a lifestyle and work style balance, and the flexibility nurses are looking for. A signing bonus as a solution is a nice thing, but it doesn’t address the root cause of the problem,” says Rosenzweig, “a signing bonus is a band-aid with a short-term effect.”
Rosenzweig says “In Baltimore, Chicago, Atlanta, and five major cities in Texas, we already have hundreds of qualified candidates with profiles created in the Overture system who are ready to start working under the umbrella of a lifestyle and workstyle balance. By participating in our program, employers gain a significant advantage: By joining us, healthcare employers can confidently fill their shifts well into the future with exceptionally qualified nurses who are passionate about patient care but need a better work-life balance.”
Currently, the Overture group of nurses is growing at a rate equal to 4,000 per month. From this group, healthcare employers can express interest and arrange interviews through the Overture process resulting in an ’employer authorization’ given to the nurse. Open shifts posted in Overture are instantly presented to those authorized nurses and are immediately ‘claimed’, all through the Overture app. GPS-tracking (think Uber) turns on prior to the start of the shift and allows healthcare providers to see that nurses that have claimed upcoming shifts are on time and in the right place. Checking in and out, shift performance rating, and a seamless operating system managing it all are just a few of the healthcare employer benefits, not to mention a strong reduction in operating costs for the employer.
Nurses gain many benefits, including higher hourly rates, working at the facilities of their choice, and claiming their choice of shifts, which provides a much better life and work balance. Upon completion of their shift, nurses are paid in as little as 24 hours.
By addressing the pain points of both healthcare employers and nurses, the Overture system allows healthcare facilities to bring on verified and professional nurses with ease and helps to eliminate frustration and burnout in the nursing community by providing this flexibility. By ensuring qualified staff are on board and ready to care for patients 24/7, Overture helps to ensure that patients receive the best care possible.
Overture is neither a staffing nor a per diem agency. Overture is a system and a process adopted by the healthcare provider with the Overture team behind it providing support and service
As a fully cloud-based HIPAA-compliant provider, Overture offers state-of-the-art functionality and ease-of-use both on laptops, desktops, as well as on their proprietary app, which is the hub of the system.
Overture keeps patient care the focus of healthcare employers by ensuring that the nursing resource is available and affordable. It also ensures that the disheartened nurse population receives much-deserved recognition, higher pay rates, shift and facility control, and a chance to establish a healthy lifestyle and work style balance. In this way, Overture is addressing the root causes of the nursing shortage.
With decades of experience building adaptive and paradigm-changing processes in the healthcare arena, Rosenzweig has taken on solving the nursing shortage problem in the United States with this platform and process.
About Overture
By utilizing a cloud-based and HIPAA-compliant system that enables state-of-the-art functionality, Overture keeps patient care at the center of healthcare employers’ priorities by ensuring that nursing resources are available, and the costs associated with obtaining those resources are much more affordable than what they are paying third-party agencies today. Furthermore, Overture aids the disheartened nurse population to achieve their well-deserved recognition, higher pay rates, shift and facility control, and a chance to establish a healthier lifestyle.
Using Overture, healthcare facilities can easily vet potential candidates while attracting more candidates back to or joining the nursing profession in the US. Due to Overture’s full shift nursing coverage, Healthcare providers enjoy tremendous benefits in terms of reducing operating costs and increasing top-line revenues.
The team at Overture includes: Rich Rosenzweig (Founder), Sunthar Tharma (Engineering), Dr. Vafa Shayani (Chief Medical Officer-Healthcare), and Dr. Sunny Patel, (Chief Medical Officer- Dentistry) along with a very talented group of seasoned engineers, business development individuals, client services, onboarding, and training staff.
For more information:
Website: https://overturexl.com/
E-mail: [email protected]
Phone Number: 470-358-5781
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/130928
Fintech
Central banks and the FinTech sector unite to change global payments space
The BIS, along with seven leading central banks and a cohort of private financial firms, has embarked on an ambitious venture known as Project Agorá.
Named after the Greek word for “marketplace,” this initiative stands at the forefront of exploring the potential of tokenisation to significantly enhance the operational efficiency of the monetary system worldwide.
Central to this pioneering project are the Bank of France (on behalf of the Eurosystem), the Bank of Japan, the Bank of Korea, the Bank of Mexico, the Swiss National Bank, the Bank of England, and the Federal Reserve Bank of New York. These institutions have joined forces under the banner of Project Agorá, in partnership with an extensive assembly of private financial entities convened by the Institute of International Finance (IIF).
At the heart of Project Agorá is the pursuit of integrating tokenised commercial bank deposits with tokenised wholesale central bank money within a unified, public-private programmable financial platform. By harnessing the advanced capabilities of smart contracts and programmability, the project aspires to unlock new transactional possibilities that were previously infeasible or impractical, thereby fostering novel opportunities that could benefit businesses and consumers alike.
The collaborative effort seeks to address and surmount a variety of structural inefficiencies that currently plague cross-border payments. These challenges include disparate legal, regulatory, and technical standards; varying operating hours and time zones; and the heightened complexity associated with conducting financial integrity checks (such as anti-money laundering and customer verification procedures), which are often redundantly executed across multiple stages of a single transaction due to the involvement of several intermediaries.
As a beacon of experimental and exploratory projects, the BIS Innovation Hub is committed to delivering public goods to the global central banking community through initiatives like Project Agorá. In line with this mission, the BIS will soon issue a call for expressions of interest from private financial institutions eager to contribute to this ground-breaking project. The IIF will facilitate the involvement of private sector participants, extending an invitation to regulated financial institutions representing each of the seven aforementioned currencies to partake in this transformative endeavour.
Source: fintech.globa
The post Central banks and the FinTech sector unite to change global payments space appeared first on HIPTHER Alerts.
Fintech
TD Bank inks multi-year strategic partnership with Google Cloud
TD Bank has inked a multi-year deal with Google Cloud as it looks to streamline the development and deployment of new products and services.
The deal will see the Canadian banking group integrate the vendor’s cloud services into a wider portion of its technology solutions portfolio, a move which TD expects will enable it “to respond quickly to changing customer expectations by rolling out new features, updates, or entirely new financial products at an accelerated pace”.
This marks an expansion of the already established relationship between TD Bank and Google Cloud after the group previously adopted the vendor’s Google Kubernetes Engine (GKE) for TD Securities Automated Trading (TDSAT), the Chicago-based subsidiary of its investment banking unit, TD Securities.
TDSAT uses GKE for process automation and quantitative modelling across fixed income markets, resulting in the development of a “data-driven research platform” capable of processing large research workloads in trading.
Dan Bosman, SVP and CIO of TD Securities, claims the infrastructure has so far supported TDSAT with “compute-intensive quantitative analysis” while expanding the subsidiary’s “trading volumes and portfolio size”.
TD’s new partnership with Google Cloud will see the group attempt to replicate the same level of success across its entire portfolio.
Source: fintechfutures.com
The post TD Bank inks multi-year strategic partnership with Google Cloud appeared first on HIPTHER Alerts.
Fintech
MAS launches transformative platform to combat money laundering
The MAS has unveiled Cosmic, an acronym for Collaborative Sharing of Money Laundering/Terrorism Financing Information and Cases, a new money laundering platform.
According to Business Times, launched on April 1, Cosmic stands out as the first centralised digital platform dedicated to combating money laundering, terrorism financing, and proliferation financing on a worldwide scale. This move follows the enactment of the Financial Services and Markets (Amendment) Act 2023, which, along with its subsidiary legislation, commenced on the same day to provide a solid legal foundation and safeguards for information sharing among financial institutions (FIs).
Cosmic enables participating FIs to exchange customer information when certain “red flags” indicate potential suspicious activities. The platform’s introduction is a testament to MAS’s commitment to ensuring the integrity of the financial sector, mandating participants to establish stringent policies and operational safeguards to maintain the confidentiality of the shared information. This strategic approach allows for the efficient exchange of intelligence on potential criminal activities while protecting legitimate customers.
Significantly, Cosmic was co-developed by MAS and six leading commercial banks in Singapore—OCBC, UOB, DBS, Citibank, HSBC, and Standard Chartered—which will serve as participant FIs during its initial phase. The initiative emphasizes voluntary information sharing focused on addressing key financial crime risks within the commercial banking sector, such as the misuse of legal persons, trade finance, and proliferation financing.
Loo Siew Yee, assistant managing director for policy, payments, and financial crime at MAS, highlighted that Cosmic enhances the existing collaboration between the industry and law enforcement authorities, fortifying Singapore’s reputation as a well-regulated and trusted financial hub. Similarly, Pua Xiao Wei of Citi Singapore and Loretta Yuen of OCBC have expressed their institutions’ support for Cosmic, noting its potential to ramp up anti-money laundering efforts and its significance as a development in the banking sector’s ability to combat financial crimes efficiently. DBS’ Lam Chee Kin also praised Cosmic as a “game changer,” emphasizing the careful balance between combating financial crime and ensuring legitimate customers’ access to financial services.
Source: fintech.global
The post MAS launches transformative platform to combat money laundering appeared first on HIPTHER Alerts.
-
Latest News5 days ago
DEMAND AT ASIAN FACTORIES RISES AT STRONGEST RATE IN OVER 2 YEARS, IMPROVING NEAR-TERM GROWTH OUTLOOK FOR MANUFACTURING WORLDWIDE: GEP GLOBAL SUPPLY CHAIN VOLATILITY INDEX
-
Latest News6 days ago
Bitrue Gears Up for 2024 Bitcoin Halving with Trading Competition
-
Latest News6 days ago
Former Dreambox CEO Jessie Woolley-Wilson Joins Owl Ventures as Operating Partner
-
Latest News5 days ago
Global Airlines Appoints New Head of Finance from KPMG
-
Latest News5 days ago
Spendesk combines procurement with spend management through Okko acquisition
-
Latest News4 days ago
“The Hainan FTP and Me”: Looking at Hainan’s Transformations
-
Latest News6 days ago
BtcTurk Organizes Half Marathon in Istanbul to Celebrate Halving Period
-
Latest News6 days ago
99Bitcoins Reveals Website Revamp and Expansion Plans With Incentivized Learning Through Tokenization