When Ali Ahmadi, CEO of caregiver support solution TCARE, and his wife began experiencing burnout from caring for Ahmadi’s mother, they decided what they needed was in-home care. But the opposite turned out to be true.
“Home care is what everyone thinks they need,” Ahmadi said. “But when we went through the TCARE algorithms, what the system found that we needed in our journey, in our care plan, was marriage counseling.”
TCARE is a caregiver analytics platform that works with managed care organizations and insurance carriers. For Ahmadi, the platform didn’t just recommend marriage counseling, but found a local church that provides free family counseling sessions every Saturday. Now the St. Louis, Missouri-based company is working to expand its services to help more caregivers after securing $17 million in Series A funding this month.
American Family Ventures chose to invest in TCARE because of its proven track record in supporting caregivers, said Brittany Clements, the firm’s managing director.
“TCARE has 15+ years of longitudinal data and outcomes for caregivers that identify their risk factors for burnout and offer evidence-based interventions,” Clements said in news release. “Their ability to create an individual care plan for caregivers and measure the cost savings from these interventions is impactful. Additionally, TCARE’s growth has proven the fit of their business model with enterprise clients, and we are impressed with their ability to work with several Fortune 100 companies.”
Some of his Fortune 100 clients include UnitedHealthcare, Cigna and Prudential.
The platform, endorsed by the Centers for Medicare & Medicaid Services, offers several solutions, Ahmadi said. One is TCARE Assist, which is aimed at caregivers and starts with an initial assessment, then provides ongoing monitoring and support. Another is TCARE Connect, which is a database of 168 categories of social determinants of health resources. Then there is TCARE Insights, which measures resource success.
By reducing burnout through the TCARE platform, caregivers can care for family members for a longer period, Ahmadi said.
“Thus, it delays or diverts nursing home placement of patients and members of at-risk entities,” Ahmadi touted.
TCARE’s clients include government and agency organizations, health plans and private insurance companies. The company makes its revenue through value-based contracts with these customers, Ahmadi said.
With the funding, TCARE will work to expand its offerings with its existing customers rather than looking for new customers, Ahmadi said. One way he plans to do that is to hire at least 100 more employees, he added.
Other solutions to support caregivers include Carrillup, Welty and Homethrive. However, these companies are more consumer-oriented, while TCARE is more enterprise-oriented. Therefore, Ahmadi does not see them as direct competitors, but as solutions that complement TCARE’s services, he stated.
Photo: ipopba, Getty Images