Transforming Senior Care Businesses Through Advanced Technology
iCarenetwork; taking lessons learned and turning them into solutions to transform senior care.
More than 10,000 people turn 65 every day in the United States. With more than 90 percent of those over 65 wanting to age in place, there’s an immense need for efficient solutions.
But there are complications. Big ones.
“Navigating healthcare and other services for seniors and their families is a real challenge,” said Kathy Peters, co-founder of iCarenetwork, an advanced technology senior care management platform that automates data and workflow for senior care businesses. “Senior services are often fragmented and really difficult for families to navigate.”
With a background in hospice and homecare and 14 years of personal experience caring for her father with Parkinson’s disease, Peters understands these challenges firsthand.
“Anyone who has ever been in this situation knows there’s a gap between the services that seniors and their families want and need and the services that are readily accessible,” Peters said.
Senior care is a growing industry with opportunity for entrepreneurs.
Entrepreneurs and existing businesses in senior healthcare recognize the human need and the market opportunity. Many individuals are driven by a heartfelt desire to use innovation to make a difference in the lives of seniors. However, turning that passion into a profession and building a business model to manage healthcare and long-term services can be uniquely difficult.
“These companies and senior care managers play a pivotal role in the industry,” said Rich Figallo, iCarenetwork co-founder and president. “They direct services and care for seniors to age in place. A lot of the required work senior services companies do is administrative. By streamlining administrative tasks, iCarenetwork allows these businesses to focus on providing top-notch care for seniors.”
iCarenetwork works with senior care managers and senior care businesses to improve operations and profitability.
iCarenetwork delivers the benefits of an electronic health record system (EHR) and a customer management (CRM) and bookkeeping system virtually rolled into one.
“We manage billing and scheduling,” Figallo said. “We allow senior service businesses to complete a screening assessment, develop an individualized care plan for each client, and complete referrals to a home health provider, all in one application. Everyone involved in the plan can have the same communications at the same time.”
The iCarenetwork founding team is validating their business plan in Ohio, especially targeting small business owner-operators in Ohio.
“Our platform can work with a wide range of providers from small to large, and across different services. That flexibility was one of our inspirations,” Figallo said.
“We have several advantages,” said Peters. “Our industry knowledge, our in-house technical ability, and the proof-of-concept work that we are doing in Rev1’s accelerator program. The level of support and guidance they are giving us is instrumental. It is a commitment, but it is the best commitment we could make.”
