CareSolver @ Aging2.0 Boston 9/17/2013
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CareSolver @ Aging2.0 Boston 9/17/2013

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  • We just gave you the backdrop of senior care When you look at the current system – it’s failing all of it’s participants: the cargivers, the seniors, and the health insurers who bear the financial risk for caring for these seniorsFor the caregivers we see STAT – it is a highly burdensome job that they are unprepared for For the seniors they receive poor, not clinically validated care and 25% suffer from undiagnosed conditionsThe health insurer also suffers tremendous financial losses primarily because of the poor care provided by the caregiversAs is commonly true in healthcare the payor for medical services is not the beneficiary of those services and the same holds true in senior care – which is why we are targeting the insurance company’s with CareSolver since they bear the financial risk in caring for this populationAs you can see the system in its current state hurts all of the participants
  • As noted in the previous slide – the system is broken and the primary reason lies with the informal caregiverFirst caregivers are delivering this care with limited training and education. They are thrown into this role and do not where to turn for information There is no available solution that gives caregivers access to tactical information for how to care for their aging parent and as such they either do not end up providing care or they do it in an ad hoc way In addition there are poor connections and coordination to the support resources to help them care for their parents These three key problems are the root cause of the senior care problem – thus the informal caregiver will be at the heart of any solution
  • CareSolver’s vision for improving senior care is centered around providing education and training and truly empowering the informal family caregiverBy doing this, caregivers will provide clinically validated highly effective care which will imrprove outcomes for seniors reduce medical waste for insurance companies and decrease caregiver burdenBetter Family Caregiver Performance Can Improve The Whole System
  • We can walk you through a tactical example of how CareSolver will execute on this vision In this case we have a daughter caring for her mom with Dementia and DiabetesThe daughter is overwhelmed and untrained and unsure what care she is supposed to be providing – the result is that mom’s sugar levels are uncontrolled she has a foot ulcer developing ad her living situation is hazardous in terms of not having auto-shutoffs on the stove, having difficult to remember critical items not labeled and a whole set of other issuesThankfully mom’s medicare advantage plan has recently partnered with CareSolver and provides her with CareSolver – she then receives the diabetes management and dementia management plans – she also can coordinate with her siblings also caring for mom The result is that she now has a clear picture of the important steps she needs to take to manage her mom’s diabetes and she immediately sets up an appointment with the podiatrist and sets up alerts for glucose monitoring. She also follows CareSolvers instructions to elderize her mom’s home Both the daugter and the medicare advantage plan are able to track which actions she has taken in CareSolver and she even earns caregiver points in the system which make her feel good about how much she is helping her mom There are significant improvements in mom’s diabetes management and the MA plan is seeing meaningful results as wellIn this way CareSolver has lowered costs, improved care, and reduced burden
  • CareSolver’s team needs to have deep healthcare industry knowledge and a solid technical plaformBoth Shana and Arick have extensive healthcare experience Arick having spend 3 years building tools for hospitals to improve operational efficiency and Shana has 3 years of healthcare experience working in corporate strategy at DaVita and doing new market and business development at a health tech startup focused on reducing hospital readmissions. They are both MBA candidates at Harvard Business School In addition out Technical co-founder Grant Hamm has 10 years of experience developing leading edge software and hardware solutions including healthcare applications for WHO and B&M Gates fooundationIn addition we have advisors with extensive experience in the senior care industry who have operating assisted living facilities, and mentors across healthcare & consumer tech

CareSolver @ Aging2.0 Boston 9/17/2013 CareSolver @ Aging2.0 Boston 9/17/2013 Presentation Transcript

  • September 2013 1 Enhancing Senior Health Through Caregiver Engagement
  • 2 Sources of Senior Care in the US family caregivers43M+ hrs/yr of care on avg988 /yr spent out of pocket$5K+ provide “complex medical care”46% provide care >1 time per week86% Health Care’s Shadow Work Force Majority of Senior Care Provided, For Free, By Family Members Sources of Senior Care in the US in 2013 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Free Care from Family Caregivers $450B Paid Care $112.5B
  • An Underperforming Asset: Unsupported Caregivers Trapped in a Failing Care System 3 Caregivers Risk-bearing entities Seniors × Lost wages – $300K over lifetime × Increase risk of depression – 45% × Increase risk in chronic health conditions – 48% × Increase in health care costs –$2.5K × Preventable hospitalizations – 15M × Seniors suffering from undiagnosed conditions – 25%+ × Unmanaged chronic conditions – 65%+ Negative Outcomes × Preventable medical costs due to caregiver errors – ~$85B × Poor informal caregiver management of post- discharge care major contributing factor in readmissions ~80%
  • Family Caregivers Are Not Provided the Resources for Success 4 What to do? How to do it? Where to get help? Lack of Education on… Lack of Direction as to…. Lack of Support Resources on… Asked to be senior care experts with little education, direction, resources, or support
  • Educated, empo wered caregivers Better care Better senior health Reduced healthcare spending Less caregiver stress CareSolver Vision 5
  • CareSolver: A Vehicle for Delivering Caregiver Targeted Interventions 6 Innovation Award Winner Medical History Medical Records Medical Monitor Data Situational Information Risk Assessments Educational Content Service Providers Care Mgmt Tools Psychoeduca tional Support Senior Care Experts CareSolver Leverages the UNPAID Caregiver to Improve Outcomes Across a Variety of Conditions Customized Action Oriented Care Guides Inputs Interventions
  • CareSolver In Action 7 Susan (Mom) Ann (Daughter) 1 • Ann is overwhelmed caring for Susan • Susan’s has: • Uncontrolled sugar levels • Diabetic foot ulcers • An unsafe house for fall risk • Ann signs up for CareSolver • Receives customized diabetes & dementia care plans • Receives reminders for glucose checks • Ann schedules a podiatrist appt. • Ann follows instructions to fall-proof Susan’s home • Ann joins a local support group 3 4 Better Health Reduce d Burden Lower Costs 2
  • The Team 8 • Experience in senior care, building new health care businesses • Past entrepreneur Arick Morton Co-Founder Grant Hamm Co-Founder & Development Lead Shana Hoffman Co-Founder • 10 years of experience developing leading edge software & hardware solutions • Past entrepreneur • Experience in healthcare strategy • Previous startup experience