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Caredojo
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- 2. Problem Approval processfor non-emergency home care takes 2- 4 weeks Patients have little say in choosing the aide that will be caring for them for weeks and months to come Families want to monitor the health of patients and the care provided Massive paperwork burdens on nurses and aides reduce time spent on care per patient
- 3. The Home CareDelivery Model
- 4. Solution Rethink the homehealth agency from the ground up Allow patients to choose their preferred aides based on profiles, experience, and quality information Give family members, nurses, HMOs and MDs access to dashboards to monitor patients that automatically share important care/clinical information Equip nurses and aides with tablets/digital forms to make compliance faster and easier Our backend technology can automate most of the internal agency operations, reducing administrative costs
- 5. Business Model Operateas a virtual agency and capture the full reimbursement We’re compiling a database of 1 million+ licensed caregivers from public state records We can offer PCAs 25% higher wages than average on our system Offer HMOs rebates to be their preferred home health provider
- 6. Existing Market Fourpublicly traded home health agencies ( < 30% market share), and thousands of ‘mom-and-pop’ outfits Economies of scale prevent small agencies from realizing the full cost savings of technology like ours Public agencies have been resistant to technology adoption, opting for M&A as a growth strategy In this broken system, home health agencies earn 40-50% margins off of top-line revenue
- 7. Market Opportunity Asbaby boomers continue to age and require long-term care, the percent of patients and family members comfortable with technology will grow exponentially
- 8. Next Steps August:Complete building all parts of the platform September: Apply for Medicaid & Medicare certification to operate as a home health agency September- November: Run a beta test- either a pilot with an existing agency as a partner, or roll out to a small targeted area
- 9. Team Faheem Zaman Thiel Fellow- stopped out of Harvard – math worked at NY Times and an algorithmic trading firm Ilya Vakhutinsky Thiel Fellow- stopped out of Rutgers - CS Software wizard; worked at NYC startups & university labs CareDojo is a member of Startup Health