The variety of People ages 65 and older is predicted to extend to 82 million by 2050, a 47% enhance from 58 million in 2022. And accessing high quality healthcare is usually complicated and a big problem for this inhabitants.
That’s what DUOS, a technology-enabled service supplier for Medicare Benefit plans, hopes to alter. It helps older adults and their caregivers by addressing health-related social wants and connecting sufferers to care. The Minneapolis, Minnesota-based firm was not too long ago topped winner of the well being tech client/employer observe of MedCity Information’ INVEST Pitch Excellent contest. Investor judges evaluated six complete startups targeted on care navigation and coordination.
“We don’t need individuals simply to stay longer,” stated Karl Ulfers, CEO and co-founder of DUOS, in a latest interview. “We would like them to have extra life within the years that they really get to expertise, and in order that’s why we actually concentrate on creating know-how and automating protection for these older adults round their well being associated social wants. As a result of everyone ought to have the best to have transportation to get to their physician’s appointments or get out of their group. Everyone ought to have the best to stay in a home that’s protected.”
When the corporate contracts with a well being plan, it could actually begin participating with members by way of textual content, e-mail and mail to tell them of this profit and the choice to affix DUOS. Members can then share their prime social determinants of well being and care wants, corresponding to meals or transportation assist. The corporate can then join them with assets and suppliers based mostly on their protection, location and different wants.
Ulfers gave the instance of somebody who qualifies for the Supplemental Vitamin Help Program (SNAP).
“An older grownup, via our expertise, can truly not solely be recognized that they qualify for SNAP-EBT, however we truly will chat with them and reply questions that robotically write over the SNAP-EBT software,” he stated. “After which as soon as we clarify this system to them and we get their approval, we seize their digital signature, after which in a single click on, we’re in a position to truly get their software despatched off to the state or county officers, relying on the place they stay, after which get them related to that SNAP-EBT profit.”
DUOS also can combination member knowledge and supply actionable insights again to the well being plan consumer.
One of many investor judges of the Pitch Excellent contest stated he chosen DUOS as winner of the competitors as a result of “household caregivers are among the best unsung heroes in healthcare.”
“Any know-how or service that is ready to present them with further transparency of advantages, leverage over their time, and general peace of thoughts, is bound to be a win for all healthcare stakeholders when delivered successfully,” stated Derek Mazur, director at Cedar Pine, who leads healthcare investments for the agency. “DUOS seems to be unlocking this capability.”
DUOS has raised about $30 million. A few of its traders embody Forerunner Ventures and Primetime Companions.
Considered one of its well being plan purchasers is Humana, which DUOS introduced a partnership with final 12 months to assist veteran seniors. The corporate has additionally expanded into prescription drug plans and Medicaid.
DUOS’ assist is particularly wanted as authorities plans face vital modifications as a consequence of federal funds cuts, in accordance with Ulfers.
“In each sector of Medicare Benefit, prescription drug plans and Medicaid, all these plans are going to alter over the following couple of years, and that’s going to create an unbelievable quantity of confusion,” he stated. “We wish to be that voice of simplicity and entry for the older adults of this nation to grasp what’s altering and the way they will be certain that they proceed to get unbelievable high quality of care.”
Corporations that provide related companies embody mPulse and Cleo. Nonetheless, DUOS’ main competitor is usually the well being plans themselves, as many will attempt to present these companies on their very own, Ulfers said.
Picture: Nick Fanion, Breaking Media
