Embed Size (px)
Citation preview
Digital Health Platform for Senior Living / Home Care
Paddu Govindaraj, Founder & CEO
Opportunity
Most senior living communities, adult day care centers
and home care providers still use pencil and paper.
Family members or friends have no access to the clinical
care / daily living assistance provided.
Physicians have no real-time visibility about seniors’
health.
Many seniors are living alone in their own homes with
issues - leaving family members, friends and physicians
in the dark.
With over 50 M seniors, Carevium taps a vast market of
over $4 B in US alone.
2
Carevium
Cloud based Digital Health platform for
Caregivers and Family members to care for
seniors and be involved in their Daily Living
Activities.
3
Empowering Caregivers. Enabling Compassionate Care.
ADL & Health
Assessments
eMAR, Medication
Alerts
Physician Orders
Staff Scheduling / Assignment
Care Plan & Schedule
Progress Notes, Vitals
Billing, Payments
Appointments, Activities, Alerts
Referrals, Admission
Senior Living,
Adult Day Care,
Home Care
Management
Hospitals / Clinics
Pharmacy mHealth Devices
Staff
Scheduling
Census,
Reports
Family App
Carevium Solution
Vital Signs & Health Monitoring
5
mHealth Devices
@ Facility or Home
Caregivers / Family
Real-time access
CAREVIUM
in the Cloud
Mobile Centric Design
6
Market
Over 30,000 Senior living communities and
5000 Adult day care centers
US market size $500M, World-wide $1B+
Home care agencies and caregivers - over
50,000 agencies.
US market size $3.6B, World-wide $7B+
7
$4.1 B $100 M
TAM SOM
Challenges
8
• Non-technical staff
• Increasing regulations
• Cost pressure
• Family expectations
• Census improvement
• Prospects
• Staff Scheduling
• Care Delivery
• Alerts / Reminders
• Billing
• Home Sensors
• Remote Patient Monitoring
• Up-to-date
information on seniors
• Alerts / Reminders
• Social connectivity
• Care tracking
• Chronic Care
• Remote Care
Assisted Living
Facilities, ADCs
Home Care
Agencies
Family Caregivers
@ Home
Competition
9
Business Model
10
• Per month / Resident
• SaaS Subscription $15
• Elder Care Communities
• Adult Day Care Centers
• Home Care Agencies Customers
Team
11
Paddu Govindaraj, Founder, CEO
Adi Murugaian, Co-founder, CTO
Chuck McGlade, MD, Advisor
Steve Moran, Advisor
Entrepreneur. Experience in Enterprise, Marketing, CRM, SAP, Health IT solutions
Executed projects for Ford, Daimler Chrysler, Owens Corning, SMBs.
Experience in Infrastructure, Cloud computing and Disaster recovery.
Managed massive DB applications in Ford, GE Aviation, GE Capital / Treasury.
Expertise in Memory Care. Radiologist.
CEO Ridgeline Mgmt. (18 AL Facilities)
Publisher at Senior Housing Forum, Formerly with Vigil PERS Call Systems.
Status
Platform implemented in 40 AL / MC facilities (~1000+ residents)
Billing for pilot communities started in 2016
Remote Home Care service in early pilot
Significant traction and Lead pipeline built (via online channel only)
Series A funding plan: 2017
Current: Bridge via Convertible Notes (max $1 Mn)
Use of funds: Additional hires for scaling and operations
12
Summary Problem
Seniors face isolation, depression and lack of proper care – at home and elder care communities. Caregivers and
family members do not have access to care info. Senior living communities and home care agencies use pen and
paper. With >50 M seniors, Carevium taps a vast market of over $4 B in US alone.
Solution
Carevium is a Cloud / SaaS digital health platform. Leveraging cloud and mobile technologies, Carevium provides care
management tools for caregivers, seniors, and families. With significantly low cost of deployment and operations, and
best user engagement, Carevium is gaining significant customer wins.
Status
Pilots completed in Assisted Living / Memory Care communities. 40 customer locations. Solid lead pipeline.
Investments
Similar VC Investments: Honor, CareSync, CareMerge, ClearCare, CareLynx, etc.
Revenue
Outlook
13
Year 1 Year 2 Year 3 Year 4 Year 5
$1 M $5 M $25 M $55 M $100 M
Annexure
15
Mission
Helping seniors around the world live a happy,
independent and dignified life - with the aid of
technology and innovation.
Empowering Caregivers with Point of Care tools
with Cloud / SaaS / Mobile technologies.
Enabling Compassionate Care for Seniors by
connecting care providers and family members.
16
How
Senior Population in US
17
Over 10,000 hit Age 65 everyday
Over 20% take medication for 3 or
more chronic conditions
Consumes 36% of total healthcare
budget
15% of US population are
seniors (~50M)
Over 50% of family caregivers
reside at least 100 miles away from
seniors
30% received home care or
resided in assisted living facilities
Opportunity Senior population increasing
at 3% / year
Medicare funding is shrinking;
Cost of care is increasing –
care needs to be Cost
Effective
Senior living facilities and
home care agencies – Least
tech enabled
No visibility or connection to
the family caregivers
Cloud and Mobile
technologies can disrupt
legacy processes and
systems 18
Carevium Architecture
19
AWS Cloud / VPC / Route 53 / ELB
Network Server Storage
API - HL7 Connectors
Clinical &
Medications Alerts and
Communications
Care Coordination
and Management
Hospitals
Labs
Pharmacies
EHR/EMR
Health Monitoring
Devices
Web App
Seniors, Caregivers, Family, & Providers
Web App Web App
Anytime Anywhere
Access from any device
Financial Projection
20
Year 1 Year 2 Year 3 Year 4 Year 5
Number of Facilities/Agencies 200 1,350 3,300 4,200 6,500
Assisted Living Facilities 175 750 1,500 2,000 3,000
Home Care Agencies 25 600 1,800 2,200 3,500
Number of Seniors 10,000 45,000 120,000 150,000 235,000
Fee per resident $15 $15 $20 $20 $20
Revenues $1,027,500 $4,819,500 $25,146,000 $54,666,000 $97,266,000
Expenses $2,133,800 $4,808,340 $20,073,360 $32,746,560 $58,562,560
Salary & Benefits $1,840,000 $2,880,000 $11,250,000 $24,000,000 $33,000,000
G&A $125,650 $289,170 $2,514,600 $5,466,600 $9,726,600
Sales and Marketing $168,150 $1,639,170 $6,308,760 $9,279,960 $15,835,960
EBITDA (1,106,300) 11,160 5,072,640 15,919,440 38,703,440
Assumptions: Core markets (B2B) only targeted
No revenue from implementation and training
Fee increase in Y3 due to additional modules: LTC pharma connect, Family connect, vital sign gathering
Customer acquisition = 2 month subscription fee
# of ALFs & home care agencies ~ 80,000
# of ALF residents ~ 2,000,000
# of home care assisted seniors ~ 25,000,000
Customer retention 90%
Ecosystem Opportunities
21
Multi billion dollar adjacent market opportunities
Lead generation / market place services for elder care providers (senior living / home care)
Discharge planning connectivity & Room availability status updates to hospitals and consumers
Additional potential segments:
Health plans / Insurance providers
Pharmaceutical companies
Telecom / mobile providers
International service providers
Areas of platform support:
Care coordination, Medication management
Chronic condition management
Connected home / mHealth
Summary
SaaS based, easy-to-use UI driven solution for all
constituents in Senior Living and Aging-in-Place
marketplace
Integrated Care Management for Senior Living facilities,
Homecare Agencies, and Caregivers / Family members
Large, untapped market; emerging at the intersection of
Cloud, Mobile and Consumerization of Health
Integrated with Health Monitoring devices / sensors,
social / family interaction tools
Entrepreneurial and advisory team with Senior Care
industry, Cloud, and SaaS experience.
22
Carevium – Care Modules
23
Corporate Dashboard
24
Resident Move-in
25
Carevium - Resident Dashboard
26
Carevium - Resident Care Modules
27
Carevium - Medication Management
28
Carevium - Vital Signs Tracker
29
Facility Reports with Carevium
View real-time reports in graphical or
table format for easy readability
Keep track of occupancy status
Up to the minute Census reporting
View care chart, med chart, and diet
report summaries
View incident and billing summaries
Corporate Reports with Carevium
View occupancy status of multiple
facilities
View real-time occupancy
variation
View occupancy by service level
View census summaries and
details
View billing summaries
Photo Sharing with Family Members
Private Secure Messaging
