What’s up everybody, it’s Steve “The Hurricane” here, and for today’s episode of A Drink With “The Hurricane,” we’re going to talk about the importance of collecting analytical digital data and how it can apply to keeping our seniors home safe and sound, so cheers.
Okay, and so before we get into the subject, I wanna make sure that you are all registered for the Virtual Boot Camp. It is September 17th and 18th of this year, 2020. And I know because of the lockdown, because of the pandemic, it is very difficult to scale and grow your home care business. We have been working with clients since the very beginning, and they’re all thriving during this pandemic. We wanna help you do the same thing. So make sure you are registered for that today two day bootcamp, all new topics on how to scale and grow your home care business during this COVID-19 pandemic.
And so with that in mind, we’re gonna talk a little bit about digital information that can be collected through motion sensors. Now, a lot of you do not realize this, but I’m actually officially the executive advisor for a company called envoyatHome. And my good friend Robert Blatt is the owner and the founder of this company. And they collect amazing data points, which help us to determine just how much care a senior needs. So I’m gonna turn this episode over to Robert, and he’s gonna explain how you can leverage this data and what the importance of collecting this information will do in being able to help keep our seniors safe and sound out of hospitals and in the place that they love, which is their home. So Robert, take it away my friend.
Hi Steve, thank you for the drink and the opportunity to talk to your viewers today. Hi everyone, I’m gonna show you how to grow your business with a new technology based service called digital caregiving. And it’s a perfect compliment to your mission, helping seniors live independently in the comfort of their own homes longer.
Now, you might ask me Rob, we’re in the business of care, doesn’t technology take the personal touch of the caregiving? I’m here to tell you the answer is no. Give me five minutes and I’ll show you how digital caregiving can actually increase your ability to provide personalized compassionate care to your clients and their families, helping them to meet their goal of keeping their loved ones, living independently longer, and in turn growing your business.
Why should I add a digital caregiving product to my service is offering? Does anybody actually want technology for caregiving? According to the AARP the answer is yes. The AARP surveyed family caregivers and an average of 71% said they were interested in technology care solutions, but only 7% actually use them. Take a look at this chart. It shows that a high percentage of those family caregivers want technology, but they don’t want gadgets. They want solutions that give them the ability to intervene early. They want to coordinate care with the healthcare system and make smart decisions to keep their loved ones living independently longer, while gadgets and buttons, they have their place, but only digital caregiving can provide these higher value benefits. The market is hungry for digital caregiving solutions and I’m gonna give you six reasons to add digital caregiving as a service and share how it can grow your business.
All right, reason number one, increased lifetime revenue per client. You can deliver full-time care to your part-time hourly clients by selling 24 by seven caregiving as a low cost supplement to hourly based care. This will bring you additional predictable recurring revenue stream every single month, without having to recruit, hire onboard trainer retain labor.
Reason number two, high margins. The revenue we just talked about, without the expensive labor, that revenue comes to you at a very healthy margin.
Reason number three, reach markets you can’t profitably serve today. Because the price of 24 by seven digital care comes out to mere or pennies per hour. You have a whole new market demographic that can afford your product, including clients who can justify your minimum number of service hours and those clients who are at risk without care, but are reluctant to start hourly service. It’s an entirely new market and much larger market.
All right, reason number four, a paid pipeline. All those digital only clients that you now have, well, many of them are gonna need traditional care at some point. So consider them part of your pipeline of leads and the best part you’re getting paid to have that pipeline.
All right, reason number five, with digital caregiving, you’re in your client’s home 24 hours a day, seven days a week. Even when your caregivers aren’t there, you are in the home collecting data. What kind of data? Well, I’m glad you asked. Your digital caregiving system is collecting data on your clients safety, wellness, cognitive decline, compliance to medical orders and their home environment. And what do you do with all that data?
Well thank you for asking again, that brings us to reason number six, which is to sell your caregiving services. You can use this data to differentiate your agency with power partners. You can use the data to show referral sources, exactly how you are minimizing risks of readmission acute events, and costly missteps. This data gives you the power of the partnership.
Let’s see a few real life examples. This is John, his family had a daytime caregiver until the digital caregiving system data showed him wandering around the home, opening the front door and even leaving his home at 4:00 am, during a blizzard, all during the hours, he was alone. His family was shocked, they had no idea. Now he has full-time care. In addition, the family brought the data to his doctor who used it to formally diagnose and treat him for dementia.
This is Doug. Doug’s daytime caregiver was worried that Doug’s cognitive behavior was declining and put them at risk while he was home alone at night. The agency couldn’t convince the family to increase care until they shared data from the digital caregiving service, which showed Doug was attempting to leave his home on an average of five times a night. That evidence was all they needed to contract for full-time care.
And lastly let’s say hello to Ruth. Ruth typically woke up twice per night to use the bathroom. The data showed an increase the six times per night for two nights in a row. She hadn’t noticed that at all, but the digital caregiving system did, and she was treated for a UTI before it became an emergency. When she came home from the hospital, her family increased her caregiving hours.
So what do all these stories have in common? Data from a digital caregiving system enabled early intervention. And if you listen to Steve, this is the most important reason care giving exists. Second, the agency wasn’t the enviable role as the trusted advisor for care planning. And third more service hours.
So let’s get back to the AARP. The conclusion of their study was that technology has a huge opportunity for, and I quote, “the double bottom line, being able to provide products “that improve the lives of Americans as they age, “while also increasing revenue.” That’s why we’re in this business. And I know from speaking with many agency owners, that’s why you’re in the business too.
At my company, Envoy at Home, we provide a digital caregiving experience for family caregivers that offers peace of mind at lower costs to keep loved ones living independently longer. We partner through home care agencies like yours to give you the benefits of intervening early. If you’re interested in growing your agency, I wanna talk to you about the business of caregiving. I would really like to hear from you. My email addresses right below and I am looking forward to our continued conversations, thank you.