a pioneering technology platform revolutionising the care ...€¦ · revolutionising the care...
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A Pioneering Technology Platform Revolutionising the Care Industry
We are building a technology platform that will revolutionise the globalcare industry. Vida is CQC approved and provides a holistic and integratedcircle of care; the focus is on empowering and uplifting the entireindustry by positively impacting all stakeholders.
VISION
From just an idea to industry disruptor in under 12 months
12 months ago, Vida was born. Vida is an end-to-end, personalised and scalable care technology platform, going to the last mile in client service.
We have moved at great speed, proving our model, with a clear vision and clarity on how to solve the structural challenges in the care industry.
Proven model and strong consumer
brand
2017 Revenue:£1.2m
2018: £5m
25-strong team. 11 in Technology
Technology platform built
and patent pending
CQC regulated
£25bn market opportunity
Over 300 carers on
board
Partnership with 6 local authorities
Full coverage of London,
East & West Sussex
Technology can scale
internationally
KPIs are trending well, with strong demand expected over the next 6 months
Our clients are pleased with the service, and we have established trust in the market. An outcome of this is that existing clients tend to acquire more hours of care with greater confidence once the rota is set and the carers are allocated.
Once the technology is fully deployed, efficiency will improve resulting in an enhancement in service and greater focus on continuity of care. While existing clients are satisfied, there is still scope for more improvement and hence, greater upside to come.
5,000Hours / week
4,000Hours /
week
Last week of September Target
+12.5%above target
4,500Hours / week
Last week of September Actual
First week of October Estimate
+25%above target
Vida recognised as a disruptive brand delivering a high quality care experience
Marketing Week
Naushard JabirCo-Founder, CEO
Co-Founder of Laundrapp, previously an investment banker at Deutsche Bank
and BNP Paribas
Devika WoodCo-Founder, CMO
Clinical Governance Officer at Babylon, Strategic Partnership Officer at
Medefer, Breast Cancer Research, Imperial College
London
Mohammed GbadamosiCare Manager
London Care Manager of the Year 2014; Over 11 years of
actual care experience previously at Octavia Care
And a team of young and energetic individuals ready to revolutionise the care industry in the UK:
Experienced management team with startup and healthcare experience
Hunt CollingsOperations ManagerGraduate from Imperial
College London. Operational experience in healthcare
businesses.
Care Team - 12Technology Team - 9Business Development - 3
Claudio De PaceCTO
Technical Architect at Monitise Create, Head of
Mobile Development at VeInteractive, Software
Engineer at Hyves
Vida has achieved significant milestones in less than a year…
Vida is born
£400k seed round
Commenced trading officially
First tech platform to be CQC approved
Delivered 1,000 hours of care a week
£1m second seed raised
Monthly revenue of £100k, 2,500 hours of care a week
Launch of Brighton office, also CQC approved
June July January March April MayNovemberSeptember2016 2017
… and will deploy groundbreaking technology in 2017/18
July January April JuneOctoberSeptember
Launch of Vida Office and Vida
Carer App
Launch of Vida Next-of-kin app for £132bn
informal care market
Launch of client subscription model
Launch of Vida Client Portal
Monthly revenue of >£150k, 4,000 hours of care
a week
Commencement of licensing trials with
partners
2017 2018
Highly fragmented market beset with structural issues
There are at least 11,500 at-home care agencies, all operating on legacy business models and poor operations systems that are human resource intensive and costly.
Vida’s solutions target both the ‘human’ related issues and the poor use of technology that is dragging the industry down.
‘Human’ related issues
Low carerpay
Poor training and lack of
career progression
Declining quality of care
and poor service
High overheads and
resource intensive
Patient outcomes not
monitored
Lack of technology
Paper based systems
No logistics expertise
Poor operational
software
Lack of data
No real-time monitoring
Vida’s End-to-End Tech Platform will redefine the global care industry
We are building an end-to-end, personalised and scalable care technology platform. The platform will address the following key areas:
High Quality Care
Logistics
Monitoring
Transparency
Vida Eco-System
Health Outcomes
Absolute focus is on delivering high quality care at an affordable rate. Vida is CQC approved and we empower and invest in our carers, clients and next-of-kin
The right carers are matched to the right client, ensuring efficiency in the delivery of high quality care, whilst at the same time providing continuity of care and reliability of service
Vida enables real-time monitoring and proactive management of the health of our clients. This improves patient outcomes and results in cost savings to the NHS
“Connected Care” facilitates and improves communications, providing real-time transparency to all stakeholders involved in the care process
A number of client outcomes are tracked on a regular basis, to quantify the positive impact that Vida has on their lives and the resulting cost savings to the NHS
The platform provides a foundation upon which numerous other health services can be delivered; from disease-specific IoT devices to medication management
PIONEERING TECHNOLOGY
We have built sophisticated apps to address various break points
The technology we have built is unique and addresses the many pain points we have experienced in being a CQC approved care provider and delivering high quality care
Our Phase 1 Technology components solves the logistics and monitoring issues in delivering care, improving efficiency, transparency and communications significantly. The end result is a superior care experience to the client
Manage all elements of the care planand keep stakeholders in the client’s care unit up-to-date
Manage network of carers and clients
Focus on operations so that the business operates efficiently and seamlessly
Manage visits, timesheets and task lists Paperless – Reduce time spent on
tracking and recording daily activities
VIDA OFFICE CLIENT APP CARER APP
Vida Back Office delivers efficiency, seamless care and reduced overheads
Provides an overview of all care delivered and upcoming appointments
Focus on operational efficiency so that the care delivered is seamless
Helps to scale the business by managing larger volumes effectively
Tracking of important trading, service and health KPIs Info on all carers and clients in just one dashboard
Invoicing
The algorithm matches the best carers for each client based on a number of factors
Focus on continuity of care and efficient service delivery
Payments to carers and clients will be automated and seamless, enabling the Vida Care team to manage and oversee all payments in one place
In the future, Vida will look to launch a monthly subscription service
Dashboard Matching
The Vida Carer App will enable carers to accept jobs in real time…
Carers will see all of the upcoming and competed appointments
This enables them to manage their daily schedules in real-time and in the palm of their hands, while on the go
Calendar
Carers are notified when new appointments are available and can review and accept or decline
Available Appointments
… and help carers to manage the daily appointments and tasks easily
Carers will have a full breakdown of all the tasks they need to complete for the clients
Important tasks can be set as alerts in order to ensure that
Client's Task
Carers will have all the information they need including: any medical conditions, contacts or patient’s allergies
The detailed care plan will be automatically ‘unlocked’ once the carer arrives at the client’s home in order to ensure the client’s privacy
Appointment Details
Vida Client App enables the client to manage both care and health
Clients can see all of the upcoming appointments and the profile of the carers
Calendar and Appointment Details Monitoring
Provides transparency to family members in the management and delivery of care appointments
Enables important tasks to be added or to share vital information about the client
Next-of-kin Access
The client app will also enable Vida to monitor vital health data and manage the digital care plan
This enables Vida to prove positive patient outcomes over time
Vida Next-of-kin App will address £132bn informal care market
£132bnmarket size
Carers UK disclosed that there are 7m people who provide unpaid care for their loved ones, with an annual estimated value of £132bn
Vida’s Next-of-kin App is similar to the Vida Carer App and will enable the informal carer to manage and care for the patient
The Vida Next-of-kin App will be made available for £10 a month subscription
7minformal
carers
Significant Market Opportunity Subscription Model
SERVICE DELIVERY
Our carers are highly qualified and trained to understand complex conditions and provide compassionate, holistic and quality care
Fully managed, highly personalised service overseen by a dedicated care manager
Our carers support your loved ones to stay in their homes and communities, avoiding costly institutional care
Vida works closely with each individual client, family members and primary care providers to design and implement care plans
Our carers are supported by technology to facilitate “real time” information that is directly connected to the care process. This allows Vida to adopt a proactive approach to care
Circle of Care – Holistic, integrated & seamless care solution
BACKGROUND CHECKSWe run comprehensive national and country level background checks on all carers.
CERTIFICATIONSEvery carer will have the mandatory Certified Care Certificate, amongst other qualifications.
IN-PERSON INTERVIEWEvery carer is given a personality assessment at an in-person interview by a Vida staff member.
CLIENT REFERENCESWe contact past clients to collect work references and validate work history.
EDUCATION AND TRAININGVida will develop in-house training to upskill our carers, in line with current guidelines training standards.
ONLINE EXAMVida has their own online exam for the recruitment process. Carers must pass with at least 70% to qualify as our carer.
Rigorous recruitment process that ensures high quality carers
Outcomes and data
Vida has devised a means of benchmarking and monitoring client well-being; our easy-to-use app allows carers to continually monitor and feedback information to the office – enabling us to be proactive, rather than reactive, with the client’s health.
Our end-to-end platform also allows collection of never-used-before data in the community; valuable patient data that traditionally resides only in the client’s home. The scale, diversity and numerous applications of this data make monetizing this an incredibly attractive proposition.
Type of Data
General Health Outcomes
Agency/CarerQuality
Modeling future care
needs
Treatments adherence & compliance
Disease-specific
monitoring
Applications of data
In-house Quality
AssuranceCQC Auditing NHS Local
AuthoritiesBig Pharma
Developing Outcomes For Care
Vida is capturing never-seen-before data in the care industry – measuring outcomes for care based on a baseline captured at the initial assessment, and on an ongoing basis: General well-being: mood, appetite, bowel habits and changes in weight Daily BP and glucose Basic and Instrumental ADLs (Activities of daily living)
Psychological, Social and Physical Needs Physical functionality
Neurocognitive Function Sensory Function Musculosketal Function Mobility
These are scored on a scale of 0-4 – from complete impairment to no impairment. This quality and value of this data will also benefit from the integration of IoT medical devices onto the Vida platform – helping us capture disease progression and disease-specific outcomes.
Care Providers: Superior
Monitoring
Social Services/CQC
Value to NHS; contextual
health
Medical Researchers in pharma or life
sciences
Stakeholders that benefit:
B2B Partnerships: Local Authorities
Existing Partnerships:
Future Partnerships:
REVENUE MODEL
Care Provision - Simple pricing making care affordable
Standard Pricing Average Weekly Price(20 hours of care)
Live–in Care(each week)
£16/hour £280
£85022%
100%
Client Carer Vida
£16/hour £12.50/hour
£3.50/hour
78%
Vida’s Unit Economics
Our initial focus for the first year is the private market. Initial trading data indicates that clients are price inelastic to a degree; they aremore concerned with the quality of care and continuity of care. Vida is priced well below market for a premium and responsive service.
Our nearest competitors are charging over £20/hour for the same quality of care; hence, we are highly confident that demand is priceinelastic between £16 to £20 an hour. Should we need to increase margin, there is 15.6% upside that can be extracted.
We have kept pricing affordable at £16/hour as it enables us to work easily with local authority authorities who refer clients for free