1. What does Complia Health do?
Complia Health provides technology solutions and services to home health, homecare, and Hospice agencies. Our mission is to help our clients disrupt healthcare to the benefit of their care givers and their consumers. At our core, we believe consumers should be able to receive care and predictive health management where they want and how they want, and their care team should be given the tools they need to help them do this as efficiently as possible. This means automating as much of the care process as possible and driving the highest quality care delivery both online and to the home.
The foundation of our platform is an electronic medical record solution that simplifies the complexity of business processes including caregiver engagement, consumer engagement, scheduling, billing, and back-office operations. Surrounding our core electronic medical record system is our proprietary Smart Aging Platform™ that connects consumers, their devices, their care team, and agency administrators. The platform constantly scans and analyzes all data taken in, and proactively and predictably notifies all relevant parties of potential issues or tasks that need to be completed. The visible face of this solution is EMMA, our Electronic, Medical Management Assistant chatbot, which receives these alerts, engages the appropriate person, and intelligently routes the consumer to the right level of care with the right team member.
Complia Health is helping our clients lead the next wave of disruption in healthcare, accelerating their growth and profitability through our systems.
2. What attracted you to Complia Health?
The healthcare industry is ripe for disruption. With all the progress we have made in the last 20 years, healthcare is still 20 years behind other industries on its path toward optimizing consumer experience, driving costs down, and improving quality. I have spent two decades helping stakeholders automate and optimize healthcare in health systems and doctors' offices, as well as moving urgent care, behavioral health, and primary care online. With rapid growth of the aging population, the biggest opportunity to improve our healthcare system and experience is in the home where we can help people age in place and receive care on their own terms. Ninety percent of adults say they would prefer to age at home; Complia's technology and services will help make that viable.
I joined Complia Health because I believe the next disruption phase in healthcare will be in better solutions for care at home, with a strong focus on chronic condition management services. Complia Health has the industry leading platform and has earned a client base of the leading agencies in the industry, so we are poised to lead and drive change.
3. What trends are you seeing?
Care is moving to the home and to the cloud, which is driving cost savings and increased patient and caregiver satisfaction. We are seeing a growing focus on automating care and delivering as much care remotely as is feasible.
With the push to the home, the other big trend we are seeing is in consolidation and achieving scale through acquisition and by adding new lines of service. Today, the top five providers in home health, personal care services and hospice make up 20% of the market and there has been a dramatic increase in deal velocity for post-acute provider consolidation over the past four years. As agencies go through consolidation, the IT environment gets more complex, and more agencies want a single platform to handle as many of their needs as possible across home health and hospice.
At Complia Health we believe that we respond best to these trends by supporting the delivery of care to people in the venue they prefer.
4. How does Complia Health differentiate itself?
We cannot disrupt and improve the healthcare experience if we do not engage clinicians, caregivers, consumers, and their families. Complia Health is the leading caregiver and consumer engagement platform. We are more focused on driving outcomes than simply implementing technology. But none of that matters to agencies if their payments are not approved and on time. So, we prioritize being the best at getting our clients paid on time with the fewest possible denials.
5. Tell me about your road map?
With the growing care giver shortage, consumer demand for healthcare experiences that match or exceed the service levels they receive in other industries, and the growing complexity of data collected, our near-term platform is focused on improving care giver retention, consumer engagement and machine learning based business intelligence. As the industry is moving toward value-based care, we are building the Smart Aging Platform™ of the future, which connects administrators, caregivers, consumers, and families. We do this by intelligently, proactively, and predictively presenting the right data at the right time at the right place for consumers, their family, caregivers, clinicians, and agency administrators.
6. How has Carrick Capital Partners supported you and assisted Complia Health?
When you are a fast-growing business in a very dynamic market it is invaluable to have investors who bring knowledge, experience, and best practices from across their portfolio of companies. Having access to this breadth of experience has informed our business decisions and helped us avoid potential missteps. Carrick also brings resources that augment our team’s capabilities across technology assessment, market research, and competitive analysis. Most importantly, they are invested in supporting and helping us on our path to success.
7. What is your advice for other growing businesses considering private equity?
As much as money is valuable, it is more important to find an investor who can bring expertise, best practice experience, resources, and a network of potential prospects, industry advisors and experts they are able to leverage on your behalf.
8. What is next?
Simply put, we are focused on being the leading provider of smart aging technology solutions and services that enable consumers to age on their terms.