Solving Healthcare's Workforce Crisis and Building a More Transparent Future for Clinicians: The Promise of Marit Health

We're excited to announce our investment in Marit Health's $3.2 million seed round. Founded by physicians and the team that built Glassdoor, Marit is creating a groundbreaking clinician community-powered platform that brings comprehensive data and unprecedented transparency to compensation — benefitting both clinicians and their employers. ‍

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The Healthcare Workforce Crisis

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The American healthcare system is facing a critical workforce challenge. The Association of American Medical Colleges projects a shortage of between 37,800 and 124,000 physicians by 2034. Meanwhile, burnout rates have reached alarming levels – nearly 63% among physicians and similarly high rates for nurse practitioners (54%) and physician assistants (60%).

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The pandemic only intensified these challenges, with studies showing that one in five physicians plan to leave their practice within two years. Work-life balance and compensation consistently rank as the top reasons clinicians consider making a change.

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Improving U.S. healthcare at scale means investing not just in novel care models or promising therapeutics, but also in the well-being of the highly-trained professionals delivering care. The clinician shortage and exodus from medicine is a pressing challenge that demands a fresh, novel approach.

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Marit's Innovative Solution

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Despite the high demand for their skills, clinicians lack the guidance and comprehensive information needed to effectively advocate for themselves and their career paths. And without access to clear and transparent data, clinicians struggle to navigate the complex business and financial inputs that directly impact their pay.  Standard compensation reports are often prohibitively expensive, lack critical details, and fail to capture the nuanced elements that matter most to healthcare professionals – from call schedules to tuition reimbursement and other non-monetary benefits.

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Marit has launched an innovative solution to bring radical transparency to clinician compensation. Marit’s community-powered model collects anonymous yet verified compensation data directly from clinicians themselves, offering unprecedented granularity and transparency. Beyond basic salary information, the platform provides insights into:

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• Complete compensation structures, including base salary, RVUs, collection rates, and bonuses
• Detailed benefits information, from signing bonuses to loan forgiveness programs
• Work structure and responsibilities across different practice settings
• Shift and call schedules with specific pay differentials
• CME allowances, PTO, malpractice coverage, and retirement plans
• Overall satisfaction with compensation and working conditions

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This level of detail has never before been available to the clinician community in such an accessible format. And crucially, Marit is completely free for clinicians to use, operating on an innovative "give-to-get" model that ensures the data remains fresh and comprehensive.

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Marit is founded by a team that brings together the perfect blend of healthcare knowledge and marketplace expertise. Built by physicians and led by early Glassdoor and Transcarent executives who helped build one of the most successful salary transparency platforms, this team uniquely understands both the technical challenges of building a marketplace and the specific needs of the healthcare community they serve.

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Their founding team brings not only the right blend of clinical and technical expertise, but also proven playbooks. Their combined experience positions them to apply these proven approaches to the unique challenges of the healthcare workforce.

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Creating Value for Healthcare Employers

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While Marit's platform is designed with clinicians at its center, it creates tremendous value for healthcare employers facing unprecedented recruitment and retention challenges.

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By providing granular insights into what clinicians truly value, Marit enables employers to optimize their recruitment budgets, creating more targeted offerings that resonate with the specific clinician profiles they're trying to attract. Instead of competing solely on salary, employers can differentiate themselves through the full spectrum of benefits and working conditions that matter most to today's clinicians.

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The data also serves as an invaluable retention tool. With clinician turnover rates continuing to climb, understanding the market trends in compensation and work structures allows employers to proactively adjust their offerings to remain competitive. This data-informed approach to retention is particularly critical as health systems face growing financial pressures.

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Our conversations with health system HR leaders revealed consistent enthusiasm for the rich data and resources Marit provides – information that simply doesn't exist elsewhere. By aligning employer offerings with clinician preferences, Marit creates the potential for more satisfying and sustainable working relationships.‍

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Remarkable Growth and Impact‍

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The Marit team has achieved impressive growth in a short time. Their platform already serves a thriving community of 12,000+ physicians, APPs, residents, fellows, and students across 175 specialties and all 50 states. Together, this community has created one of the largest and fastest-growing compensation datasets in medicine.

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We've been incredibly impressed by Marit's remarkable growth in just a few months, reaching clinicians across all specialties and geographies—entirely driven through word of mouth. This organic growth speaks volumes about the genuine value Marit provides to the clinical community.

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The impact extends beyond individual clinicians. When healthcare professionals feel valued, supported, and adequately compensated, they're better positioned to provide excellent patient care. As more clinicians adopt Marit, it not only helps them make better career decisions, but also enables healthcare employers to retain talent by fostering a more satisfied and supported workforce.‍

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Looking Forward‍

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We believe Marit is positioned to become the definitive community and resource for clinicians navigating their careers. By providing transparency and fostering community, Marit helps clinicians make more informed decisions about their career paths. 

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In a healthcare system under strain, empowering the people who deliver care becomes essential. Marit's mission to strengthen the clinician workforce aligns perfectly with our vision at Define Ventures of supporting companies that transform healthcare through technology.‍

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“We couldn’t be more thrilled to partner with Define Ventures. They deeply share our passion for building a platform and community that empowers clinicians to thrive in their careers, and they're fully committed to doing it right for the long haul. Define is exactly the type of partner we need — challenging us to think boldly and holistically about driving positive change across healthcare.” - Vikas Sabnani, Marit Health co-founder & CEO. ‍

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We're thrilled to partner with the Marit team as they build the community that today's clinicians need and deserve.

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To learn more about Marit Health, visit marithealth.com.

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