It is difficult for healthcare providers to keep track of residents' needs when senior living communities rely on legacy systems. August Health is trying to change that by creating a system for senior residences. General Catalyst is one of the investors in the company's Series A. Dan Baty is the founder of Columbia Pacific and Arine Whitman is the founder of Formation Capital. August Health has raised $18.6 million to date.
The company has a vertical software as a service that manages care and compliance for thousands of senior living residents, as well as a virtual care platform that allows doctors to see their patients remotely. Most of the senior living communities are run on paper.
Mapsense was acquired by Apple in 2015. He met his co- founder at a playground in 2020.
After Mapsense was acquired, Cohen left his position at Apple and was looking for a new challenge. Schram was the medical director of the healthcare group that focused on older patients.
A lot of residences still operate on paper and legacy tech systems, making it harder for providers to gain access to information about their patients. If a provider wanted to know a patient's medication list, care plan, history of recent events or weight, they had to dig through paper records. There was a problem when there was an emergency.
Cohen said that he shared his experience working in senior living communities, where some of society's most important work is taking place, but the communities are underserved by modern, high quality technology to support their extensive and complex care operations.
Cohen said that the two saw an opportunity to support administrators and caregivers by building software that would automate busywork and simplify compliance.
People working at senior care residences struggle with time-Consuming paperwork, including move-in packets, face sheets, emergency binders, medication administration records and service plans Cohen said that when some information gets updated in one place it often remains outdated in the other. disparate records have resulted in injury or death and this has led to lawsuits.
Tracking basic analytic tasks is very difficult because of paper records. Cohen said senior care residence staffs often have trouble tracking how many falls have occurred in their facility and how much they should charge for new residents.
This leads to staff stress. Cohen said that many senior residences are struggling to find younger staff members.
August Health helps by creating a digital charge for each resident with all the core information needed to coordinate their care, communicate with family members and external providers, and maintain compliance with state regulations. It gathers the medical, social and personal histories of each patient, as well as their preferences, and syncs it in real-time.
Family members are given access to a portal for filling out information, updating records, getting visibility on the resident's care and options for payment. The data goes directly to a resident care record, where the residence's staff can conduct assessments, create care plans, chart progress notes, track incidents, generate and store essential documents and manage their medication.
August Health's compliance tools perform a real-time evaluation of regulatory compliance based on state specific requirements and generate automatic reminders if requirements are missing or need to be updated. The solution helps track and automate compliance, which is a huge pain point for customers, traditionally requiring a lot of mental load, sticky notes and spreadsheets to manually track due dates to avoid citation or fines.
Legacy systems that were originally built for other industries are August Health's main competitors. Yardi was a general real-estate and property management software that added assisted living care tools. PointClickCare is a post-acute skilled nursing software that is difficult to navigate for assisted living users. There are other options like Tabula Pro.
A Move-in only product that is limited to initial intake is one of the main products monetized by the startup. Each month, August health charges a fee for active residents. The majority of its customers are on its end-to-end assisted living software platform.
Cohen said that they align with their customers so they don't pay for empty beds but for actual residents in the community.
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