As we have moved to virtual briefings, I have increasingly been excerpting short video segments (with permission) as part of my Analyst Cam series.
This time it is Lindsay Jurist-Rosner, Co-Founder and CEO of Wellthy, which provides a caregiving support solution. I was introduced to her by the Workday Ventures team.
Lindsay starts with her personal experience. She supported her mother through a chronic condition for 28 years (it started when she was a kid) and found the healthcare system in the US (and most other countries – they also service Canada, UK and Ireland)) assumes aging care is the responsibility of family members. She says families take on 90% of long-term care in the US.
They have since diversified beyond the focus on aging parents to also cover kids with special needs, spouses with chronic conditions, and during the COVID pandemic expanded into child care. About the last, she says “it remains a crisis. We've seen daycare shutdown, a reduction in the number of folks who are taking jobs as nannies or in-home aides. Families are really struggling to set up care as many companies have returned to more hybrid work environments, encouraging people to come into the office.”
The solution broadly consists of 3 components
- Care Dashboard – digital tools such as medication trackers, document storage
- Care Concierge – a dedicated coordinator and shared access to other team members who help advise on Medicare, insurance, other funding sources, care nuances etc.
- Wellthy Community
They started the business in 2015, supporting families and started working with employers in 2016. Business exploded through the pandemic. Today they support 1.1 million covered individuals. And expect to be closer to 2 million by the end of the year. Lots of big brand employers and 4 of the top 6 companies on the Fortune 100 Top Places to Work list.
They can show quantifiable outcomes like lowered absences and attrition at employers which offer their service as a comp benefit. The best endorsement she says comes from employees moving companies who say to their hiring person, “you know, I would like to retain access to this very important benefit”.
She says it is a “very sticky benefit.”
Very nicely done in 20 minutes.
