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Transcript of "Caring in place opportunity v20120915"
R RA Place for Caregivers Introduction to Caring in Place® September 2012 1
Problem Statement R Problem Statement - The Aging in Place movement encourages aging adults to age at home instead of within managed care facilities. - As aging adults begin to deteriorate, they require clinical and logistical support. Within managed care facilities, this role is filled by the staff. With Aging in Place, the clinical and logistical support role falls primarily on Family Caregivers. - Typically Family Caregivers are clinically under-educated yet willing to learn. They have little to no disposable time yet may be required to spend up to 40 hours a week supporting their loved one. They are cost conscious and expect technology to support them as caregivers. Today they do not have a standard way to coordinate care across siblings and other support groups. Family Caregivers need help understanding their role as caregivers, maximizing their time, minimizing the cost of care, and coordinating care among siblings and other support groups
Mission Statement R Our Mission Statement Caring in Place® is a technology platform for non-professional caregivers designed to help coordinate the care of their loved ones while improving points of care and health outcomes. Our mission is to help caregivers understand how to be effective care providers while saving them time and money. Family Caregiver Home Healthcare Devices Safety or Appointments Location Aging in Place Daily Activity Medication Home Healthcare Services Additional Caregivers or or or or
How it Works R or Average Caregiver Sign Up Online Input Patient Attributes Caring in Place® generates (45-54 yr old female) or Download (Ailments, Behaviors, etc.) a Caregiver Care Plan Free AppCaregiver Customizes Caregiver Shares Tasks Caring in Place® is monetized by Caregiver Provides Care Plan With Siblings and Friends positioning targeted Products and Clinical Activity Report to Services based on the Caregiver Care Plan Doctor at Appointment
Revenue Model Example R Service Example Scenario Product Example Scenario Caregiver has a Medication adherence is task that she low due to poor tracking cannot complete or patient usage CiP helps identify CiP recommends a need and multiple medication recommends a adherence devices or service provider solutions Caregiver selects 25 Caregiver selects a hrs of service for device $500 and is billed (e.g., GlowCaps) through CiP and is billed through CiP CiP collects fee and Help Me CiP integrates the sends service device into the request to provider Help Me caregiver platform Service Provider Help Me Caregivers can receives monitor medication referral, completes adherence through service, and the CiP solution updates Care Stream receives service Doctor is given a care Caregiver report with medication communication from the adherence data included provider through the CiP solution CiP collects $35 for new referral CiP collects $30 for new deviceCiP collects $15 for existing client
Key Audiences and Benefits R Key Facts Caring in Place Benefits - 43.5M US Family Caregivers - Reduce Time and Cost of Care Family - 48 year old female is the average - Education and Coordination Caregiver - 20.4 unpaid hours of care each week - Improve Health Outcomes - 50% have full time employment - Peace of Mind - 80% express excessive stress levels - Familiar Technology Solution Key Facts Caring in Place Benefits - 38.6M Aging Loved Ones (65+ years) - Improve Health Outcomes Aging Loved - 10K Baby Boomers turn 65 daily - Reduce Burden on Family Caregivers One - 58% of Aging Loved Ones live at home - Extend Aging in Place - 20% living with the Caregiver - 72% live less than 20 minutes from Family Key Facts Caring in Place Benefits Product & - Eager to Access Aging Marketplace - Access to Family Decision Makers Home Services - No Connection with Family Caregivers - Targeted Products/Services - Extremely Fragmented Marketplace - Differentiation and Lead Generation Vendors - 23k Non-Clinical Home Healthcare Firms - Customer Service - 100s of New Home Devices Each Year - Communication and Coordination Sources: 1: Family Caregiver Alliance 2: AARP Family Caregiver Study 3: National Alliance for Caregiving
Revenue Models R Assumptions Number of Caregivers Monthly Spectrum of Care Dependency per Patient = 2.5 $0 $500 $1400 $3300 $5500 Patients Converting to R Paying Customers = 1/3 In Home Elder Assisted Nursing Independent Care Care Living Home Monthly Patient Spend on Home Healthcare Services = $500 Anticipated Caring in Referral/Coordination Fees Ad/Premier Placement Fees Place® fee per new # of Users Annual Revenue # of Patients Total Impressions Annual Revenue services referral transaction = 7-10% 2,500 $ 106,920 1,000 585,000 $ 10,530 12,500 $ 534,600 5,000 2,925,000 $ 52,650 Anticipated Caring in Place® fee per 25,000 $ 1,069,200 10,000 5,850,000 $ 105,300 existing client 125,000 $ 5,346,000 50,000 29,250,000 $ 526,500 transaction = 3-5% 250,000 $ 10,692,000 100,000 58,500,000 $ 1,053,000 Ratio of Referral 2,500,000 $ 106,920,000 1,000,000 585,000,000 $ 10,530,000 Customers vs. Existing Customers = 3/2
Team Backgrounds R Josh Fotheringham Education: MBA & Masters in Information Management Avaya (Lucent): Strategy, Business Development, Services Apple: Product Development & Design, Systems Management Founder SunGard: Product Management, Data Management James Jarman Education: Masters in Economics Avery Dennison: Innovation & Product Development eBay: Internet Business Modeling, Network Marketing Founder SunGard: Product Management, Product Marketing Advisors Ken Veit Dr. Alan Frischer Jason Sanders Former President of Aetna Internist & Chief of Medicine JD, Patent Attorney
US Opportunity R Yard Care / Snow ($600 Million) Security Services Trash Removal ($600 Million) ($150 Million) 38.6M Adults 65+ (+10K Each Day) Utilities Meals ($1.6 Billion) ($3 Billion) Housekeeping Home Maintenance ($700 Million) ($900 Million) Healthcare ($6 Trillion) Opportunity Enable product and services vendors access to the hard-to-reach aging population marketplace Sources: US Census, US Dept. of Health, US Dept. of Labor Consumer Expenditures
Competition R Homecare Device Companies Home Service Aggregators GrandCare Task Rabit BeClose Angie’s List Elphi AFrameDigital iReminder Caregiver Targeted Companies Care Coordination Companies Care Zone A Place for Mom Care Together Care.com Elder Care 411 Wellaho Sage Minder Saturing Butterfly Effects
Service Providers R Clinical Home Healthcare Non-Clinical Home Healthcare Apria Home Instead Lincare Comfort Keepers Gentiva Visiting Angels Blue Care Senior Helpers Interim Healthcare Gentiva Almost Family
Product Demo RMobile Care Plan Care Plan Care Plan Medications Care Plan Details
Product Demo RMobile Care Stream Care Stream Care Stream Details Care Stream Extended
Caring in Place Opportunity R Reduce Family Caregiver Time and Costs while Improving Health Outcomes for Aging Loved Ones by Educating, Connecting, and Coordinating Care through Non-Clinical Service Providers Family Caregiver R Aging Loved Non-Clinical One Service Provider Aging Loved One Caregivers Service ProviderBenefits -Improved Health Outcomes - Reduce Opportunity Cost of Care - Lead Generation - Extended Aging in Place - Delegation of Tasks - Customer Service
Phase 1 Functionality R Caring in Place® Mobile Application (iOS and Android) and Web Cross-platform mobile application for caregivers featuring: - Care Plan generation (clinical and non-clinical) - Medication management - Invite siblings and friends to participate in caregiving activities - Care coordination/communication between caregivers - Caregiving readouts for Doctors of aging patients - Location-based messaging and notifications
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