Fundamentally, healthcare is broken. The phrase “we have a sick-care system, not a healthcare system” is heard quite often. And it’s true. Traditionally, healthcare has operated on a reactive health model instead of a proactive, preventative one. Most insurers and providers only proactively care for about 5 percent of the population, with a labor-intensive model, that is defined as high-risk, which is costly. In addition, traditional fee-for-service payment models have not provided any incentives to pay to manage the next 30-60 percent of the rising-risk populations. The clinical staff necessary to manage this population is at an all-time high, which is not scalable and just costs too much. This is where an AI-powered Virtual Nurse Assistant comes to the rescue. According to Accenture, virtual nurse assistant applications can potentially create $150 billion in annual savings for the U.S. healthcare economy by 2026 and growth in the AI health market is expected to reach $6.6 billion by 2021.
Healthcare is at an inflection point. 85 percent of healthcare costs are spent on managing chronic conditions, mostly from seniors aging at home. Our society lives in a time when two-thirds of all people who have ever lived past the age of 65 are alive today. People are living longer than ever; with more conditions, costing much more and the results are having devastating ripple effects on families, employers, providers, payers, and society, as a whole. It has been called a Silver Tsunami and it can be society’s Achilles heel, unless we proactively do something about it. Care Angel is redefining how we care.
Aging at home with multiple chronic conditions, taking multiple medications requires daily commitment, health literacy, and highly keeping the patient engaged and disciplined about their own care. Research shows that up-to 75 percent of people just aren’t able to adhere to care plans and medication schedules without some kind of reminders and support. A home has traditionally been the black box for patient care, disconnected from providers and extended family members. Many of healthcare’s problems are exasperated by a lack of complete, accurate, and timely information. Continuous, proactive engagement at scale, to gather actionable data and keep patients adhering, is now an absolute necessity. With value-based care and shared savings becoming the way most providers will get paid, payers, providers, and their care teams must be able to continuously engage with patients and provide care from the office or hospital into the home with high touch, low tech, and low-cost solutions.
With Care Angel, this is realized. Care Angel revolutionizes patient engagement and how one cares for the priciest, sickest, and most vulnerable populations by using an unlimited workforce of AI and Voice powered Virtual Nurse Assistants, meet Angel.
Care Angel seamlessly boosts the capacity and capability of existing human care teams by five-to-ten fold. Angel, augments the effectiveness of her human clinician counterparts, thereby building a more intelligent and capable healthcare workforce of tomorrow.
Journey of Care Angel
Care Angel, established in 2015, is a pioneering company that has designed the world’s first AI-powered Virtual Nurse Assistant to meet the complex needs of people with chronic conditions. After two years in stealth development, the company launched its platform in late 2016 and hasn’t looked back since. Its main motive is addressing the desire and necessity for improved health engagement and well-being management at the enterprise level to serve the evolving needs of payer and provider clients that manage the clinical and administrative needs of millions of lives in the US alone.
The company believes, technology can be used to exponentially scale the engagement, monitoring, and day-to-day care; to coordinate with the most vulnerable and at-risk populations (Medicaid, Medicare, and Dual Eligible). By personalizing intelligent engagement, making technology invisible, cost negligible, and complexity irrelevant, while meeting patients’ requirements, technologically, intellectually, culturally, and emotionally. “An engaged consumer is a healthier consumer. Engagement is the block-buster drug of the century.” says the CEO.
According to VentureBeat, Care Angel is one of the three most Valuable Applications of AI in Healthcare, AI- powered Virtual Nurse Assistants; estimating the value of virtual nurse assistants to a whopping $20 billion.
Transforming Healthcare Engagement
The company believes access to quality healthcare is a right all should have. Care Angel’s mission is to empower millions to take better care. The company was established after putting together a decade worth of experience in applying telehealth technologies; to make care more accessible, affordable, and available for basic episodic and chronic care. “Post-acute episodic care accounts for only about 15 percent of healthcare costs, the remaining 85 percent of costs are attributed to chronic care.” asserts the CEO of Care Angel. Here lies Care Angel’s ultimate challenge −to apply the momentum and principles of remote care to ten times the populations that have traditionally never been proactively cared for due to lack of human labor resources, complexity, and costs.
The company believes that in the not-too distant future, when one leaves a physician’s office or a hospital setting and goes home, an intelligent AI-powered Virtual Nurse Assistant, like Angel, will do all the automated follow up as an extension of the existing care teams to help one to be healthy and informed, and connected to care, while family members and clinical care managers are alerted when there is an issue or a need, catching small issues before they become hospitalizations. The exponential capacity is enormous.
The Enthusiastic Promoter of Care Angel
Wolf Shlagman is the CEO, Founder, and Chief Angel of Care Angel. He is a creative technologist, tinkerer, and visionary behind the success of the company. He has a long history of using technology to create solutions that make several aspects of life more accessible, convenient, cost effective, efficient, and consumer friendly. As a serial entrepreneur, Wolf previously founded ‘Consult a Doctor’ in 2007, one of the earliest pioneers of B2B2C telemedicine platforms, which was acquired by Teladoc, Inc. (NYSE: TDOC), a Kleiner, Perkins portfolio company, in 2013 and the combined companies were taken public shortly thereafter.
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