As anyone with older family members knows, coordinating care for these individuals can be a laborious, stressful and expensive endeavor. Founded in 2010, Caremerge seeks to ease that pain by offering web and mobile solutions for working with senior care providers.
Yesterday, the GE Health Growth Accelerator company announced a $2.1 million series A round. Polish entrepreneur, real-estate developer and art collector Grazyna Kulczyk led the round, with participation from a Swiss investor.
Caremerge’s key benefit is offering families a way to share information with care providers such as hospitals, physicians, ACOs (which provide coordinated care to Medicare patients) and managed care organizations. The company uses HIPAA-compliant and secure web and mobile apps to enable this sort of communication.
"Today, long term care is challenged with increasing regulations, high staff turnover, reduced reimbursements and lower profit margins," says founder Asif Khan. "Most people believe that the long-term care industry is slow to adopting technology. At Caremerge, we beg to differ and believe that until now technology hasn't adopted to the unique challenges and workflows of long-term care."
As such, Khan will use this funding to improve Caremerge’s platform for care coordination and to accelerate expansion.
Every day, nearly 10,000 Americans turn 65 and enroll in Medicare. Khan hopes Caremerge can help them and their families manage the challenges and nuances of long-term care.