This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
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1. THE BEGINNING
This innovation initially came to life when…
My grandmother was having a contractual issue with her aged care provider, and my co-founder was looking for an aged care facility for his mother who has early onset dementia, but couldn’t get past the normal marketing glossy material. I asked my wife, who works in aged care, how a family tells what an aged care provider is like before they move in, and she replied, “They don’t. They do a tour for 10 minutes then sign up”.
2. WHAT & HOW
The purpose of this innovation is to…
…arm aged care residents, their families and care recipients with information to make an informed choice, and to provide operators with consumer insights to improve the quality of care they provide.
It does this by…
…gathering consumer insights through validated reviews, and using those insights to make the aged care purchasing process simpler with easy-to-understand metrics, and provide operators with comparable industry-wide benchmarks.
3. PURPOSE & BENEFITS
This innovation improves on what came before because…
Aged care is incredibly difficult to navigate, and to date potential consumers haven’t had easy-to-understand industry benchmarks to compare operators against.
Its various benefits to the customer/end-user include…
…facilitating informed decisions for consumers, providing aged care operators with data validated benchmarks and consumer insights.
4. COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Families had to visit a whole heap of aged care facilities, and get a feel for the ‘intangible’ of quality of care by equating that to the quality of the building. Aged care accreditation is a minimum standard — a pass/fail approach with most audits notified in advance.
Its predecessors/competitors include…
Directories, Google searches, digging around newspaper articles to see which operator is good, and which isn’t, reviewing 90-page accreditation reports.
5. TARGET MARKET
It is made for…
Australians aged 65+ who are looking at going into aged care — of which there are 3.2 million, but by 2051 there will be 10 million people. Our five-year plan is an international market — the US alone has 40 million people aged 65+, and by 2050 that will be 88 million people. The families of each of these people also care deeply when and how aged care placement decisions are made.
It is available for sale through…
Our platform is currently in an HTML5 website (mobile-friendly). We are currently developing an app (launch Nov 2015) that will provide a continual stream of richer consumer insights.
Our marketing strategy is to…
…attract reviewers through aged care providers, hospitals (social work teams) and online/social media. Those aged 65 years and over were the most likely to provide online ratings of any age bracket, and were also the most prolific reviewers, completing on average 12 ratings a year according to the 2014 Sensis Social Media Report.
FINE PRINT: This SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity.
