Caring in Place is a technology platform that aims to help family caregivers care for aging loved ones at home. It allows caregivers to generate care plans, share tasks with other caregivers, and coordinate care. This helps caregivers save time and money while improving health outcomes for their aging loved ones. The platform also connects caregivers to products and services to address their care needs. The goal is to make it easier for family caregivers to support aging in place by educating, connecting, and coordinating their care efforts.
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Caring in place opportunity v20120915
1. R
R
A Place for Caregivers
Introduction to Caring in Place®
September 2012
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2. 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
3. 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
4. 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 App
Caregiver 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
5. 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 device
CiP collects $15 for existing client
6. 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
7. 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
8. 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
10. 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
11. 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
12. 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
14. Product Demo R
Mobile Care Plan
Care Plan Care Plan Medications Care Plan Details
15. Product Demo R
Mobile Care Stream
Care Stream Care Stream Details
Care Stream Extended
16. 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 Provider
Benefits -Improved Health Outcomes - Reduce Opportunity Cost of Care - Lead Generation
- Extended Aging in Place - Delegation of Tasks - Customer Service
17. 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
Notas do Editor
It's no secret that this is an era of change in health care. Now, more than ever, health plans are looking for companies with innovative products and services to help them provide high-quality, cost-effective care.