Case Study: Marketplace Analysis for Clipboard Health
Clipboard Health’s marketplace analysis identifies optimization opportunities to enhance booking rates and worker engagement.
The Clipboard Health (CBH) marketplace analysis focused on optimizing its two-sided healthcare staffing platform, which connects healthcare workers with per diem shifts posted by facilities. The study examined 358,065 marketplace interactions, uncovering key insights and actionable strategies to improve booking rates, reduce no-shows, and enhance overall worker and facility engagement.
Key Findings:
Worker Segmentation: Analysis revealed high variability in booking and reliability scores among workers, with most engagement polarized between highly active or minimally active workers. Retention rates showed significant drop-offs after the first 30 days.
Rate Elasticity: Pricing strategies were suboptimal, with limited variation across shifts. Night shifts were underpriced, and short-notice shifts lacked premium rates.
Lead Time Impact: Booking rates peaked within the 24-72 hour lead time window, while longer lead times showed diminishing returns.
Shift Duration and Slot Performance: Morning shifts had higher pay but lower reliability, while overnight shifts exhibited lower engagement. Eight-hour shifts dominated, offering the highest engagement rates.
Dynamic Pricing Simulation: Simulations showed that adjusting rates for low-paying and overnight shifts improved booking likelihood by 15-20%.
Recommendations:
Implement dynamic pricing to incentivize timely bookings and address demand-supply gaps, including surge pricing for difficult-to-fill slots.
Introduce a tiered worker engagement system with incentives for retention and high performance.
Develop a shift bundling strategy, pairing less desirable shifts with premium options and optimizing scheduling efficiency.
Enhance the matching algorithm by incorporating historical preferences, geographical clustering, and facility familiarity.
Focus on posting optimal shift durations (8-12 hours) to maximize engagement.
Expected Impact: Short-term improvements include a 25% increase in retention and higher shift fill rates. Long-term, CBH aims to achieve an 8-10% conversion rate and a 35-40% improvement in worker retention and marketplace efficiency. These changes promise a more reliable, profitable, and scalable marketplace.