Texas earns healthy rating as 2nd best state for nurses, Forbes says

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Nurses deserve all the love. Photo by Patty Brito on Unsplash

With a global pandemic in the rearview and an aging workforce reaching retirement in larger proportions, strong healthcare is becoming increasingly crucial in the United States.

Nurses are in great demand throughout the nation and can make significant impacts in a state like Texas, which was just named the No. 2 best state for nurses in a study by Forbes Advisor.

Texas currently employs more than 231,000 nurses, the second-highest number in the country behind California's 325,620 nurses. Florida rounds out the top three with more than 197,000 nurses employed.

There are several factors to keep in mind when considering a career as a nurse, but one has been in a lot of recent discourse: the salary. The Bureau of Labor Statistics (BLS) says nurses in the U.S. earn a median salary of $81,220 per year. While healthcare company Trusted Health places a Texas nurse's annual salary at $74,540 - lower than places like Florida and California, adjusted cost of living can make Texas more attractive.

"Salary is a significant factor in any professional’s career decisions, but it’s not the only one to weigh when deciding where to work," the report's author wrote. "You should also consider job availability, economic demand, and licensing processes before settling on a place to grow your career."

Regarding job availability, Projections Central estimates there will be a demand for more than 16,000 nursing positions in Texas between 2020 and 2030 - the second-best job outlook in the U.S.

Texas is also part of the Nurse Licensure Compact (NLC), which can help nurses transfer their licenses from other states.

"NLC members grant RNs multi-state licenses, which allow them to practice in any NLC-participating state without jumping through the hoops of meeting a new state’s specific licensing guidelines," the report says. "NLC nurses can offer their skills to another compact state in the event of a crisis and provide telehealth services across compact states."

The full report can be found on forbes.com.

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This article originally ran on CultureMap.

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Nurseify is an on-demand platform that allows nurses and health care organizations to take part in the gig economy. Photo via unsplash.com

Houston-based gig platform for nurses to launch app next month

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Health care executive Benjamin Foster knows that nurses are essential — especially in times of crisis.

In 2017, when Hurricane Harvey struck Houston, he watched as local health care organizations struggled to find nurses who could meet the desperate need at hard-to-reach facilities. And as Regional Chief Human Resources Officer at HCA Houston Healthcare, he had also grown accustomed to the high costs and inefficiencies of traditional medical staffing agencies.

In 2020, in response to the demand for nurses in the pandemic, he decided it was time to act, launching Nurseify in May of that year.

Nurseify is an on-demand platform that allows nurses and health care organizations to take part in the gig economy.With guidance from Rama Walker, Nurseify’s Chief Nursing Officer and Chief Operating Officer with a background in ER administration, the platform uses AI to match nurses with facilities looking to fill short-term assignments.

Nurses are able to set their rates and schedules through the app. Health care facilities can directly vet applicants through their profiles and ratings. The platform also can predict when there might be a higher demand for contract nurses at various facilities based on vacancies and increased patient volume.

“We hope to empower nurses and help individuals take control of their careers by offering transparency and a way to create schedules to better fit their lifestyles,” says Foster, CEO of Nurseify, in a statement. “In this gig-economy, it’s imperative to have an easy and effective way for nurses and healthcare facilities to communicate directly about opportunities, and Nurseify provides a place where they can do just that.”

Additionally, the platform features educational, financial, and support resources for nurse users, as well as options to work with entrepreneurial mentors and wellness coaches with the goal of empowering nurses in what's proven to be a demanding field, especially since the onset of the pandemic.

“As nurse advocates, we prioritize an honest hiring process and nurses’ work-life balance and overall wellbeing,” Walker adds in a statement.

According to the Nurseify team, more than 5,000 nurses have created profiles on the platform at press time; and 60 healthcare facilities have access to Nurseify.

Through the Nuresify mobile app, which launches in May, the company aims to attract more users and health care facilities.

Currently the company is focused on its operations in Texas, Georgia, Florida, and South Carolina, which were pilot states for Nurseify. But the company aims to expand nationally and internationally in the future.

Houston-based acute care startup Kare Technologies launched a similar platform for staffing within the senior living facility and caregiving realms in 2021. Read more about that company here.

In the latest round up of Houston innovation news you may have missed, student startups selected for a summer program, Texas might be among the best states for nurses, and more. Photo by Scott Halleran/Getty Images

Houston innovator joins ESG roundtable, Rice names cohort of student startups, and more innovation news

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It's been a busy season for the Houston innovation ecosystem, and for this reason, local startup and tech news may have fallen through some of the cracks.

In this roundup of short stories within Houston innovation, a software startup is focusing on diversity and inclusion, an angel network has a new partner organization, a Houston innovator is playing a major role in ESG, and more.

GoCo hosts its first-ever DEI Hackathon

GoCo is hosting its first hackathon. Photo via Getty Images

GoCo.io, a Houston-based human resources software-as-a-service company, is hosting its first hackathon for diversity, equity, and inclusion begining today, May 6, and continuing through tomorrow, May 7.

GoCo's entire staff is going to work for over 36 hours to build solutions aimed at promoting diversity, equity, and inclusion for small businesses.

"Building technology to help HR make a difference in the workplace is what we're all about at GoCo," says Allie Collins, head of GoCo's DEI Task Force, in a news release. "HR professionals are being called upon to make profound and meaningful changes to combat racism and inequities. We're hosting this event because our whole team is passionate about creating apps and resources to facilitate that change."

The competitors will be on teams and will present their projects on Monday, May 10, for a panel of judges.

Rice Alliance backs diversity-focused angel investment network

Maria Maso, CEO of baMa, has announced Rice Alliance as a partner organization. Photo courtesy of Nijalon Dunn

The Rice Alliance for Technology and Entrepreneurship has become a baMa champion of diversity for angel network baMa, or the Business Angel Minority Association.

"Rice Alliance aims to foster an innovative and entrepreneurial culture that not only values differences, but also elevates them as sources of strength and innovation," says Rice Alliance's managing director, Brad Burke, in a news release.

According to the release, baMa will help to introduce Rice to more diverse businesses. The angel network has already tapped into Rice's ecosystem with the $50,000 investment prize baMa awarded during the Rice Business Plan Competition in March.

"Diversity and education go hand by hand so counting with the support of Rice Alliance is a huge step in order to accomplish baMa's goal: close the investment gap in minority-led startups," says baMa CEO, Maria Maso.

Topl named to ESG council

Kim Raath will serve on CNBC's ESG Council. Photo courtesy of Topl

Kim Raath, CEO of Houston-based blockchain company, Topl, has announced that she has been invited to join the CNBC's ESG Council. She was selected among execs from large corporations like companies such as The HEINEKEN Company, Nestlé, IHG Hotels & Resorts, Nissan Motor Corporation, Bain & Company, Credit Suisse, and more.

"As a young startup, this is one of our most exciting milestones. Sitting at the table with industry leaders is great momentum for both Topl's success and our larger ESG mission," Raath writes in Topl's newsletter. "Traceable transparency in supply chains is a game changer for global commerce, and now Topl can learn from and collaborate with multinational corporations. This opportunity will help position our purpose-built blockchain as a solution to solve some of the biggest and most critical problems our world faces, and as we strive to build a more sustainable future for all."

The council is a roundtable of 30 business leaders across industries focused on the challenges posed by sustainability — and the strategies needed to overcome them, according to Raath.

Is Texas a good state for nurses?

A new report ranks states based on their opportunities and friendly environment for nurses. Photo via Getty Images

The Lone Star State's nursing industry was put to the test for a new report from WalletHub, a personal financial website. The study compared all 50 states based on opportunity and competition and work environment. Texas ranked No. 12 overall.

Ranked solely on opportunity and competition — which included evaluating salary, schools, nurses per 1,000 residents, and more — Texas came in at No. 11.

The top states on the list were Arizona, Washington, and Nevada, respectively.

Rice University announces OwlSpark's ninth cohort

Meet the 10 student startups that are joining the OwlSpark family this summer. Photo courtesy of OwlSpark

Rice University's student startup accelerator has named 10 startup teams to its ninth cohort, which kicks off later this month. OwlSpark's 2021 cohort includes teams from across industries — hospitality, sports, oil and gas, consumer, staffing, automotive and more. According to a release from Rice, these are the companies selected:

Capybara - a networked platform that facilitates the company-to-company transfer of IT employees with similar skill sets (for example, software developers)
ChckMate – a data-driven platform designed to improve customer dining experiences, drive loyalty and increase revenue
GatherX Analytics – an AI software platform that predicts location and quantity of hydrocarbon liquid dropout for use by the upstream oil and gas industry
HARK – an easy-to-use app designed to significantly enhance the way in which neurodivergent or cognitively impaired individuals communicate real-time with caregivers and loved ones
Home Maintainer - a comprehensive solution for homeowners to manage and simplify home maintenance and efficiency
OneLab - a robust cloud-based repository designed for effective organization and easy access to a body of data on a specific area of research
Oversox– waterproof, durable, sock-like coverings designed to easily slip over the outside of a shoe for use by the serious hiker
rutd – an enterprise software and mobile application that provides immediate, actionable, suicide prevention resources to military veterans and family members
Tailer – a training platform and sales tool for electric vehicle dealerships and sales personnel
Yellow Saffron Labs – a risk analysis platform that gathers datasets from peer-reviewed scientific publications for use by organizations to observe industry trends or upcoming scientific disruptions or discoveries

A report found that Houston has only 3.35 health care workers for every 100 residents. Getty Images

Report finds Houston is short on health care workers

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Houston may be home to the world's largest medical center, but a new study indicates the region is also home to one of the lowest rates of health care workers among major U.S. metro areas.

The study, released by credit-building loan platform Self, shows the Houston metro area has 3.35 health care workers for every 100 residents. That places Houston at No. 10 on the study's list of the major metro areas (at least 1 million residents) with the lowest share of health care workers per capita, including doctors, nurses, and therapists.

The only other major metro area in Texas sitting toward the bottom rung of the ladder is Austin, with 3.17 health care workers per 100 residents. That puts Austin at No. 4 for the lowest rate of health care workers among major metro areas.

Houston's ranking in the Self study is juxtaposed with the city's status as a world-famous health care hub. Over 106,000 people work at the more than 60 institutions within the Texas Medical Center, which includes the University of Texas MD Anderson Cancer Center, Texas Children's Hospital, and the Baylor College of Medicine.

The 1,345-acre medical complex pumps an estimated $25 billion a year into the regional economy.

Despite Houston's stature as a medical magnet, the metro area is witnessing an escalating shortage of doctors and nurses.

A 2016 report from the Texas Department of State Health Services envisions the supply of registered nurses (RNs) — the largest group of nursing professionals — will climb 38 percent from 2015 to 2030 in the Gulf Coast public health region, compared with a 60.5 percent surge in demand. That equates to a projected shortage of 13,877 RNs in 2030. The Gulf Coast region includes the Houston area.

From 2017 to 2030, the supply of primary care physicians in the Gulf Coast region will increase 19.8 percent while demand will spike 27.5 percent, according to a 2018 report from the Texas Department of State Health Services. Ten years from now, the region will suffer a shortage of 694 primary care physicians, the report predicts.

In a 2019 survey commissioned by the Texas Medical Center Health Policy Institute, about 90 percent of primary care physicians across the country predicted a shortage in their field within five years. Seventy-eight of specialty physicians anticipated a shortage of specialists.

On the consumer side, the survey found 19 percent of patients reported difficulty scheduling an initial visit with a primary care physician, and 15 percent ran into trouble setting up a new visit with a specialist.

"The best way to tell if we have a doctor shortage is by asking patients whether they can easily get an appointment," Dr. Arthur "Tim" Garson Jr., director of the Texas Medical Center Health Policy Institute in Houston, said in a 2019 release. "For now, they overwhelmingly say 'yes.'"

By 2030, Texas will experience the third largest shortage of physicians among the states (20,420 jobs), according to a study published in 2020 in the journal Human Resources for Health. Only California and Florida will see worse shortages, the study predicts. The physician shortage in Texas is being driven by a growing population, an aging population and an aging pool of doctors, according to the study.

Noting the country's growing and aging population, a study published in 2019 by the Association of American Medical Colleges predicts the U.S. confronts a shortage of up to 121,900 physicians by 2032.

The looming national shortage of RNs is also acute.

The country's RN workforce is projected to grow from 2.9 million in 2016 to 3.4 million in 2026, or 15 percent, according to the U.S. Bureau of Labor Statistics. However, the bureau predicts the need for another 203,700 RNs each year from 2016 through 2026 to fill newly created positions and to replace retiring nurses.

"With patient care growing more complex, ensuring a sufficient RN workforce is not merely a matter of how many nurses are needed, but rather an issue of preparing an adequate number of nurses with the right level of education to meet health care demands," Ann Cary, dean of the Marieb College of Health and Human Services at Florida Gulf Coast University, said in a 2019 release

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Elon Musk's SpaceX is about to make its debut on Wall Street

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Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.

NASA unveils Artemis III astronauts at Johnson Space Center in Houston

To the moon

NASA on Tuesday, June 9, revealed the crew for its Artemis III mission, the next step in the space agency's plan to eventually land astronauts on the moon.

The announcement came two months after Artemis II's record-breaking trip around the moon that surpassed the distance record of Apollo 13.

NASA's Randy Bresnik, Frank Rubio, Andre Douglas and the European Space Agency's Luca Parmitano won't fly to the moon or land on the surface. Instead, they’ll orbit Earth while practicing docking their Orion capsule with two lunar landers.

“To the Artemis III crew, we wish you Godspeed on the journey ahead,” said NASA administrator Jared Isaacman.

Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin are racing to deliver the lunar landers. The two-week demo is targeted for 2027. Blue Origin suffered a recent setback when its massive rocket exploded during an engine-firing test on the launch pad in Florida, shaking nearby homes and illuminating the sky with an orange fireball.

NASA's Jeremy Parsons said the setback is a learning opportunity and that the space agency is confident Blue Origin's rocket will be ready in time.

NASA's Artemis program aims to return astronauts to the moon's surface for the first time since the 1970s. A recent revamp of the program announced by Isaacman aims to fast-track it similarly to the Apollo era, adding the upcoming spaceflight around Earth before eyeing a lunar landing in 2028.

“We are certainly humbled as a crew to be able to be your crew that executes this Artemis III mission in space,” said Bresnik, Artemis III commander.

Added Douglas, mission specialist: “My brain — it is going a mile a minute right now. But my heart, it is so warm. It is so full."

In May, NASA awarded hundreds of millions of dollars in contracts to four companies, including Blue Origin, to build landers, rovers and drones for a future moon base. Isaacman said the goal of the moon base is to lay the foundation for a Mars expedition.

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