Market Map Update
The July 2022 publication does not look all that different from January 2022, however there are a few subtle changes. Some solutions have been deleted for various reasons; bankruptcy, mergers and acquisitions, lack of continued growth or stagnant development that leaves them a bit behind the curve of innovation when you think of best “bang for your buck.” We see the most growth in what we call “single point solutions” titled “Stimulated Minds” that are most likely portal based and address one element of engagement in communal living. While necessary, the overcrowding and similar competition tends to lead to indecisiveness by decision makers, creating a much longer sales cycle. We use the analogy of trying to find a show on Netflix when you aren’t really sure what you want to watch.
As we always say, yes you may think $100.00 to $150.00 a month per community is pennies in a bucket, yet realize you may be the 3rd, 4th or 5th solution that is not integrated with a delivery platform and single sign-ons are a tough cookie in senior living. All to say, a community may be spending $500.00 a month on point solutions, but the adoption and continued usage by different residents may be dismal. If only 5-10 residents routinely engage in a solution month after month, that ROI is not what was promised during the sales process, leaving a less than stellar feeling for leadership. The more steps it takes to access your solutions, the less likely it will be utilized.
Start with a Platform
While we do love the cause of starting small with one offering or solution, the best approach is to begin with a platform that can house the data, then leverage the integrations and collaborative efforts these platforms have already made to host these point solutions. If the hardware and tech foundation is not yet laid in an organization, putting all the pieces together after the fact becomes messy, costly, tedious and extremely disruptive. Which is why we see stagnation instead of action. Over and over again we hear, It’s better to keep in place what we know kind of works “good enough” rather than take the chance on a better experience that will be coupled with disruption of change. This is because the foundation is not laid and transferring data is near impossible, making migrations more difficult, expensive and more time consuming than they should be. Open API’s matter!
Companies We Are Loving
Ways 2 Wellness. When paper shortages and supply chain disrupt your initial model, that is when you know you have to pivot. That is exactly what Ways 2 Wellness has done this last quarter. Taking their evidence-based, personalized puzzle and color books for all abilities from a monthly print offering to a digital approach has been a game changer. With over 60 pages of custom branded wellness programming, your engagement director can stop searching for activities and start inspiring with intentional offerings and publications printed in house for seniors, communities and caregivers. This solution transcends setting and is useful for anyone interacting with older adults. Even better, Ways 2 Wellness is giving away 3 months of content for FREE to anyone. Check out the offer HERE.
JinHome is not just another fall prevention technology. LE3 Solutions will dive into fall prevention vs fall reduction (strength and balance training on the next blog) but here is why. JinHome describes their solution as strength & balance for the modern and free-spirited older adult. Experiential science-based exercise program for active aging. Mark Evin and this innovative company is not new to the space. Jintronix has been widely used in skilled nursing and rehab settings for the last decade. However, this product is for supplemental training to enhance routine fitness programs that a person can do on their own time in their own space with a tablet or laptop. Take our word for it, it is just cool, different and honestly fun. Our mom’s and children are fans and all the individual insights and progress tracking are easily visible in the application to both the individual and community leadership. If you want to give this product a try for yourself or friend, email Mark for a free account. User feedback for continued development is highly appreciated.
Caavo is an interactive TV-based communication system that uses the most important screen in the resident’s room, their TV, to enhance communication, manage check-ins and assistance requests, and strengthen family engagement. Caavo’s technology also simplifies TV operation for seniors. Caavo’s simple remote control with built-in voice commands allows residents to watch their favorite shows, answer video calls and interact with other Caavo features on their TV. Another reason we love Caavo is the potential for family and staff engagement via the TV. Bringing the entire family face to face with the resident, regardless of distance or time is a new way for connection that is not dependent on an additional external device.
SaltBox TV. With all the point solutions available to engage, teach and entertain older adults in communities it can be overwhelming knowing which ones you should choose based on available budget. Thankfully SaltBox TV has solved this problem for communities. Their ongoing efforts to collaborate and host as much content as possible on their platform is a no-brainer, and my goodness are we thrilled someone is starting to see the undeniable need for bundling services. A content provider and online platform dedicated to helping millions of individuals in their third act of life continue to learn, stay connected and be entertained. Their ,library of original and curated content is FREE to access to encourage healthy habits, learnings and engagement without restriction. If you do not know about SaltBox TV, please check them out!
Mergers
Earlier this year we saw the announcement of iN2L and LifeLoop. This collaboration and combining of platforms and data is critical if we want to continue to show that investing in technology at the community engagement level is worth the price point. We are still sitting back waiting to see all the ways these two companies will share information and combine their products for those communities that only have one of the two solutions.
Just last month Voice Friend announced their acquisition of CareMerge. Also curious to see more details on this one, but it does make sense that a communication platform is hopefully fully integrating with an engagement portal and EHR, the the CareMerge products.
Call to Action
This market map is simply a tool that we put together at LE3 Solutions to illustrate our position of sitting uniquely between owner/operator groups and vendor/solutions relating to community engagement for all levels of care. Despite playing in the engagement space, we know these vendors are only part of the equation. It is imperative that we integrate the CRM and sales process with the community engagement world. There are so many sales and marketing solutions ranging from CRMs, to digital marketing companies, lead generator solutions, prospect feedback tools, level of care decision trees, cost calculators, website developers, marketing automation and who knows what else. Not entirely our wheelhouse, but it’s all connected. This space is equally as overwhelming from the sales and marketing front. If someone has some spare time, a market map educating and assisting those doing the day to day work in the community of what is available, would be a saint. There is not enough time to research all the offerings and support your community or organization as needed.
Breaking down department silos and establishing an entire organizational technology strategy roadmap for residents, staff, families and prospects is needed more than ever. Here’s to more open communication and staff involvement for piloting, vetting and determining tools and resources.
