The variety of People 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 commonly complicated and a major 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 monitor of MedCity Information’ INVEST Pitch Excellent contest. Investor judges evaluated six complete startups targeted on care navigation and coordination.
“We don’t need folks simply to reside 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 deal with growing 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 precise to have transportation to get to their physician’s appointments or get out of their group. Everyone ought to have the precise to reside in a home that’s protected.”
When the corporate contracts with a well being plan, it will possibly begin partaking 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, similar to 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, via our expertise, can really not solely be recognized that they qualify for SNAP-EBT, however we really will chat with them and reply questions that routinely 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 really get their software despatched off to the state or county officers, relying on the place they reside, after which get them related to that SNAP-EBT profit.”
DUOS may mixture 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 a few of the best unsung heroes in healthcare.”
“Any expertise or service that is ready to present them with further 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,” 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 embrace Forerunner Ventures and Primetime Companions.
Considered one of its well being plan shoppers 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 particularly wanted as authorities plans face vital adjustments as a result of federal finances 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 subsequent 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 make certain they proceed to get unbelievable high quality of care.”
Corporations that provide comparable companies embrace mPulse and Cleo. Nonetheless, DUOS’ main competitor is commonly the well being plans themselves, as many will attempt to present these companies on their very own, Ulfers said.
Photograph: Nick Fanion, Breaking Media
