Pegged Software announced an agreement last week to use its tool for hiring and in an additional 50+ healthcare facilities.
The Otterbein-based company’s agreement with Compass Pointe Healthcare will put the predictive analytics modeling software in 29 assisted-living facilities and memory-care residences, and 27 skilled nursing facilities around the country. Terms of the deal were not disclosed.
The agreement adds to the slate of 300 healthcare facilities where the software is used. Some of the company’s other clients include Adventist Healthcare, Loma Linda University Medical Center in California and Lifebridge Health.
Founded by former White House economist and Harvard academic Michael Rosenbaum, Pegged Software uses predictive analytics and develops algorithms in initial hiring rounds. The software can also be used in forming internal teams.
“We use proprietary algorithms to predict which applicants will be successful in each institution, department, and role,” Rosenbaum said in a statement.
At a talk given to the Data Science MD meetup, Pegged Software President Myra Norton said the company takes thousands of variables, but don’t input age, race and ethnicity or info that’s found on social media.
Along with finding people who will be the best fit, the data is also tied to specific outcomes. One metric Pegged measures is improved employee retention, which is a big issue at hospitals where training new employees costs a lot of time and money. According to the latest internal info from the company, the software has reduced turnover by an average of 38 percent at locations where it was used.-30-