By Susan Saldibar
Remember when Wi-Fi came (stumbling) to senior living? I do.
It was a major technology disruptor in this industry.
And, as with any disruptor, lots of folks were pretty skeptical. Maybe you were one of them.
Would a 70+-year-old senior really need Wi-Fi?
Would employees just end up on their cellphones all day?
Was it worth tearing out ceilings and walls?
Well, now another disruptor is making its mark. It’s called AI.
And it’s déjà vu all over again. But different.
Tod Petty, CMO of Fynn (a Foresight partner), chatted recently with Abbie Richie on Tech Tuesday about all kinds of things, including AI. And he had plenty to say about disruption.
But here are a few insights that jumped out at me.
Subscription-based software isn’t really AI. But it’s hammering your NOI.
Labor costs are up, inflation is hanging around, interest rates are higher, debt is escalating — and all of this is hitting your net operating income big-time. These factors are some of the major “NOI suppressors,” as Tod calls them.
But what about those software app subscriptions?
They may seem inexpensive, at $5-$10 per resident. But when you add them all up — everything you’re using to support resident engagement, marketing, health care, staffing, family engagement, etc. — you’re looking at some huge numbers.
And the app developers, most of whom have no understanding of the senior space, love to label everything as “AI.” But in reality, it’s just software.
All they really do is collect a ton of data and attempt to mine it. Sort of like taking a bunch of notes using different apps and then trying to figure out what’s going on.
That’s not AI, folks.
And that’s what Fynn is out to change.
Three things you need to know:
This is a bonafide AI app. It uses machine learning to take a lot of data and organize it into actionable information that helps you spot potential problems with residents — before they grow into huge problems.
It’s free. No kidding. Unlike all those app vendors who nickel and dime you, you will pay nothing to have your staff and management use it. The only chargeable app is the Fynn Companion that families are happy to pay for to check in on their loved ones.
It uses gamification. That means staff no longer have to take copious notes on every little thing resident Mary was doing. Now CNAs and other staff use emojis to represent a wide range of behaviors and health symptoms.
So they can simply click on a thumbs up or thumbs down emoji to let other caregivers, managers, and families know how Mom is doing.
What can you do with a bunch of emojis? A lot.
… because there is a lot of AI behind those emojis. First, since it’s so easy to use, you’re getting more information flowing into the Fynn platform. Think about all that data that lives in the heads of your CNAs. Now it’s recorded. Then, machine learning builds meaningful information with each new piece of data it collects.
And it’s organized in a way that helps you spot a potential health or mental issue before it becomes a major one.
What would that mean to your community?
For at-risk residents, it can help mitigate episodic health care events. That could mean avoiding a trip to the hospital or a life-threatening event.
You probably have residents who receive more care than their care plan indicates. Fire up Fynn, and you can show it through graphs and charts. So families see that Mom may indeed need extra services. And they’re billable.
And it can help load-balance employees because you will know which residents require more time and can staff accordingly.
Fynn has three components to help you get all this done:
- Fynn Connect: This helps you monitor your communities in terms of how many tasks are being conducted, how many at-risk residents they have, and so on.
- Fynn Care: Your team pulls it up on their cellphones, selecting pop-up emojis to represent a resident’s health and state of mind.
- Fynn Companion: The only chargeable app, this can be downloaded by families so that they can see every task completed on their loved one’s behalf.
It’s good to know that there are true AI apps out there that are delivering measurable results.
Now it’s time to start using them.
For more information — and a short video on what Fynn does — click here.