Medely tracks marketplace liquidity using fill rate, job volume, and average shift length. The company segments markets into core and strategic growth, uses bilateral ratings where facilities and professionals rate each other, and lets facilities boost per-job offers to make shifts more visible to workers.
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you think about kind of managing the liquidity and kind of the, you know, the health across various markets as a localized marketplace. So, you know, what are some ways— I know you went into it kind of briefly, but, you know, what are some ways that maybe you're thinking through that? And then like even some kind of metrics to measure?
Sure. So we look at our, like, one of our primary metrics is fill rate, like I said. So we, you know, across at a high level, we look at like the amount of volume of jobs that are being posted. The average length of the shifts, which helps us understand like what is the value of you know the shifts that are being posted for for pros and for and for medley. And basically our business model works that facilities will pay a rate to us, and then which includes our basically like our markup, and then we translate that to the rate that a pro sees when they're signing up for the job that they ultimately get paid. So you know we strive to pay like basically top of market. for pros, and then we add our markup on top of that. So we look at the sort of volume of jobs being posted. We look at our, you know, the length of shifts, and we look at our fill rate, and then we slice and dice that down by position and by market. And we have like our, you know, probably like our 5 core markets, which are— a lot of them are in California because that's where the company started. So we have like the most maturity in those markets. And then we have like a set of strategic growth markets that we're looking to like improve upon. So those are the ones that we look at the most, but we do try to like keep our eyes everywhere so that we can understand what's going on. And then other things that we look at are, you know, facilities can rate the pros they get, pros can rate the facilities they work at. So we try to also keep an eye on like, are pros satisfied with the experience they're having when they go to facilities and vice versa? Like, are facilities indicating that the, you know, the pros that they're being sent are ones that they like. So for, you know, a period right now where there's a lot of demand, we're also implementing additional options for facilities to try to attract talent. And this is a business where kind of like money talks. So every market, we have set rates, hourly rates for pros that all facilities are sort of like assigned. But currently we're building some new functionality that can allow facility on a per-job basis to up their offer. Because like, this is like literally what facilities are asking for, is they're trying to figure out a way to stand out. And they're saying like, well, I know that the normal rate is $80 an hour, but I'm willing to go up to $120. Like, how do I do that? So we're working on building some, some new UI that would let people say like, this is a really important job and I'm willing to go like above or well above what the normal rate is. And then obviously, like, we can show that in a way to pros so they know that they're like, this facility, like, really wants somebody. Like, you can make a lot of money if you take this shift.
