CarePredict raises $29M to help more seniors stay well in living facilities or aging at home
Summary
This is whats preventing people from showing up in the hospital emergency room CarePredict CEO Satish MovvaCarePredict, a South Florida elder-tech company, collects thousands of data points on its users every day, and by leveraging deep learning algorithms, its innovative technology can autonomously identify and notify of changes in daily activity and behaviors that could precede geriatric health issues such as infections, falls, malnutrition and depression.For example, the South Florida healthtech company can predict the likelihood of a urinary tract infection three or four days in advance, based on bathroom frequency and duration. Then CarePredict alerts caregivers of the need to seek out preventive care to preserve the wellbeing of their loved ones and patients.CarePredict, which makes wearable devices paired with proprietary AI-powered software, has had proven success. In total, CarePredict has raised over $48 million, according to Crunchbase.CarePredicts unique approach to data accumulation and analysis allows us to realize our goal of virtual integration and predictive interventions. This is whats preventing people from showing up in the hospital emergency room and as a payer thats what you want more than anything else, Movva said, in an interview with Refresh Miami.CarePredict, founded in 2013, is the leader in the senior housing market, and plans to use the new funding to continue driving senior housing sales by expanding its sales team in that segment, as well as expanding reach in home care. CarePredict is a team of 24 and recently moved to larger offices in Plantation.The thing that Im most excited about is the potential for Medicare Advantage, not only to roll it out in senior housing but to people aging in place at home, said Movva.