CIO Insights: Disrupting the in-home senior care industry
Because of the aging baby boomer population, the need for senior care is projected to reach staggering levels in the next decade. According to “The Baby Boom Cohort in the United States: 2012 to 2060,” a 2014 US Census Bureau report, by 2056, the US population 65 years and older is projected to be larger than the population under 18 years old. In fact, roughly 10,000 people are projected to turn 65 every day for the next 20 years.
This increasing elderly population requires more and better options when it comes to senior care. And particular emphasis is being placed on in-home senior healthcare, which is projected to see revenues grow from approximately $180 billion in 2014 to over $300 billion in 2020, a compound annual growth rate of 8 percent.
Caregivers.com, a division of A Place for Mom, has a vision for what in-home senior care can become, and it believes that technology will play a critical role in transforming the industry as we know it. Today, families rely on agencies to identify and place caregivers for their loved ones. Unfortunately, the current system is fraught with inefficient processes and miscommunication, and having an intermediary often means less choice for the family and reduced wages for the individuals who provide care.
Caregivers.com knew that technology would play a critical role in this industry transformation. By developing a mobile-based app, Caregivers.com makes giving families access to caregiver profiles and finding the best fit for their loved one easy. In addition, the mobile app provides simplified timecard tracking, payment processing and geospatial tracking to pinpoint the location of the caregiver and the senior.
A cloud and mobile computing foundation
IBM Watson Data Platform provides an essential underpinning of the Caregivers.com solution. It delivers a scalable and high-performance, cloud-based data layer to capture and store caregiver and family data along with analytical tools that can help the company better understand and improve the services it delivers.
“Caregivers.com engages with families at a very stressful time to help them identify and receive the services they need for their loved ones,” says Justin Saul, director of technology at Caregivers.com. “With IBM Cloudant and IBM Watson Data Platform, we are able to quickly iterate on different data models, saving us extra engineering time while increasing our speed to market.”
Hear more of what Saul has to say in a video interview conducted during Insight at World of Watson 2016, and learn more about the Caregivers.com disruption story in a CIO Magazine “Paths to Disruption: Capitalizing on Cloud and Mobile Technology to Change the Game in Your Industry” webinar.