Carevium is the newest player in the assisted living space, but they have a twist.
I have been quietly paying attention to the evolution of the assisted living software marketplace. Occasionally I have been asked for recommendations or it has been suggested that I tackle the task of reviewing them all and writing about it. . . . a task I am just not up for. I have spent a fair amount of time talking to owners and operators about what software they use. The answers are all over the board, including many that are still using paper. There are two consistent themes that have come out of those conversations:
- It is still the wild, wild west with no clear dominant player or players
- No one seems completely thrilled with what they are using or what is being offered. Consistently I hear comments along the line that “some are better than others . . .”
I first met Paddu Govindaraj, the founder of Carevium, a Silicon Valley assisted living start-up, about a year ago and was intrigued by both their story and their approach to the market.By happenstance Paddu crossed paths with a Pacific Northwest assisted living provider who was looking for the perfect assisted living software solution and had come up empty handed. The CEO of that company suggested that Paddu create that elusive product. Paddu went to work assembling a team and building a brand new platform. Not coming from a care background has strengths and weaknesses. In order to figure out how to develop the perfect solution, the team spent several weeks wandering through assisted living communities, watching how care was given, figuring out what data was important and what was not. They watched how caregivers interacted with residents and figured out how to create point-of-care software interfaces that were mobile tablet centric, intuitive and easy to use.
I did a rough Google search to get a feel for the number of different assisted living software products that are currently available in the marketplace and found almost three dozen. Several were easily recognizable names, including a few skilled nursing software companies that are aggressively branching into the assisted living marketplace, but most were unknowns. Given the crowded space, Carevium did a deeper dive into the marketplace and found that there seemed to be little interest in providing software for smaller communities, meaning 4-60 residents. This has become their initial focus in the marketplace. Their cloud-based platform is currently being piloted in 20 assisted living communities with great results. They are actively seeking substantial investment capital and a handful of early adopter assisted living communities.
The software platform includes the following features:
- Referral Tracking/CRM
- Care Planning
- Care Delivery tracking
- Medication Management and MAR
- Billing and Payment processing
- Video, Photo and Messaging app for residents / families
- Document management
Each of these is designed to meet the needs of smaller communities, meaning that some features like staffing work well for small communities but are not as full featured as what a company like OnShift, another Senior Housing Forum Partner, offers larger communities and companies. You can find more information about Carevium at their website www.carevium.com Steve Moran
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