August Health digitizes senior living communities for better care

 3 months ago
source link: https://finance.yahoo.com/news/august-health-digitizes-senior-living-150028438.html
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August Health digitizes senior living communities for better care

Catherine Shu
Fri, June 24, 2022, 12:00 AM·5 min read

Senior living communities often rely on paper or legacy systems to manage their operations, making it difficult for healthcare providers to keep track of residents’ needs. August Health is on a mission to change that with a SaaS system created especially for senior residences. The company has raised a $15 million Series A, led by Matrix Partners and returning investor General Catalyst. The round also included participation from Dan Baty, the founder of Columbia Pacific, and Arine Whitman, founder of Formation Capital. This brings August Health’s total raised so far to $17.6 million.

The company’s vertical SaaS that manages care and compliance for thousands for senior living residents, and it also includes a virtual care platform that enables telehealth visits with physicians. Co-founder Erez Cohen says that about 74% of senior living communities are still run on paper.

Cohen is a second-time founder whose first startup, Mapsense, was acquired by Apple in 2015. He met his co-founder, Dr. Justin Schram, at a playground in Bernal Heights in 2020, where both their kids were playing.

Cohen had recently left his position at Apple, where he led an engineering and product group after Mapsense was acquired, and was looking for mission-driven opportunities. At that time, Schram was medical director of Landmark Health, a healthcare group that focuses on older patients.

Many resided in senior living communities, giving Schram a chance to see how a lot of residences still operated on paper and legacy tech systems, making it harder for Landmark’s providers to gain access to information about their patients. For example, if a provider wanted to know a patients’ medication list, care plan, history of recent events or weight and vitals trends, they had to dig through paper records onsite. This presented a problem, especially when there was an emergency.

“Justin shared his experience with me working in senior living communities, where some of society’s most essential work is taking place, yet the communities are underserved by modern, high-quality technology to support their extensive and complex care operations,” Cohen told TechCrunch, adding that COVID underscored these issues.

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