The variety of Individuals ages 65 and older is anticipated to extend to 82 million by 2050, a 47% improve from 58 million in 2022. And accessing high quality healthcare is usually complicated and a major problem for this inhabitants.
That’s what DUOSa technology-enabled service supplier for Medicare Benefit plans, hopes to vary. 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 shopper/employer observe of MedCity Information’ INVEST Pitch Good contest. Investor judges evaluated six whole startups targeted on care navigation and coordination.
“We don’t need folks simply to reside longer,” mentioned Karl Ulfers, CEO and co-founder of DUOS, in a current interview. “We wish them to have extra life within the years that they really get to expertise, and in order that’s why we actually deal with creating expertise and automating protection for these older adults round their well being associated social wants. As a result of all people ought to have the proper to have transportation to get to their physician’s appointments or get out of their neighborhood. Everyone ought to have the proper to reside in a home that’s protected.”
When the corporate contracts with a well being plan, it could 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, resembling meals or transportation help. The corporate can then join them with sources and suppliers primarily based on their protection, location and different wants.
Ulfers gave the instance of somebody who qualifies for the Supplemental Diet Help Program (SNAP).
“An older grownup, by means of 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 mechanically write over the SNAP-EBT utility,” he mentioned. “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 capable of truly get their utility despatched off to the state or county officers, relying on the place they reside, after which get them linked to that SNAP-EBT profit.”
DUOS may also mixture member information and supply actionable insights again to the well being plan shopper.
One of many investor judges of the Pitch Good contest mentioned he chosen DUOS as winner of the competitors as a result of “household caregivers are a number of the biggest unsung heroes in healthcare.”
“Any expertise or service that is ready to present them with extra transparency of advantages, leverage over their time, and total peace of thoughts, is certain to be a win for all healthcare stakeholders when delivered successfully,” mentioned 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 buyers embody Forerunner Ventures and Primetime Companions.
One in all its well being plan purchasers is Humana, which DUOS introduced a partnership with final 12 months to help veteran seniors. The corporate has additionally expanded into prescription drug plans and Medicaid.
DUOS’ help is very wanted as authorities plans face vital modifications resulting from federal price range cuts, in keeping with Ulfers.
“In each sector of Medicare Benefit, prescription drug plans and Medicaid, all these plans are going to vary over the subsequent couple of years, and that’s going to create an unbelievable quantity of confusion,” he mentioned. “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’ll ensure they proceed to get unbelievable high quality of care.”
Corporations that supply related providers embody mPulse and Cleo. Nevertheless, DUOS’ major competitor is usually the well being plans themselves, as many will attempt to present these providers on their very own, Ulfers acknowledged.
Photograph: Nick Fanion, Breaking Media
