WASHINGTON, DC—AARP Foundation and Rock Health today are launching the 2017 Aging in Place $50K Challenge and calling on digital health startups to apply. Competitors in the 2017 Aging in Place Challenge have the chance to earn a $50,000 cash prize and work with AARP Foundation to improve the lives of vulnerable seniors by addressing issues that help to reduce unnecessary healthcare services, costs, and hospital readmission rates—especially as described in the CMS 30-day hospital readmission measure.
By 2030, the US population ages 50 and over is expected to increase to 132 million. Two things are clear: America’s aging population is continuing to grow, and the time is now to address their ability to age safely in their own homes and communities. Studies show there is a strong link between hospital admission rates and nursing home placement. Seniors suffer a 23 percent risk of being unable to return home or requiring nursing home placement from even short hospitalizations.
AARP Foundation and Rock Health are looking for digital health startups who work to provide innovative solutions that reduce unnecessary healthcare services and costs for older Americans. Eligible competitors have a good handle on product-market-fit and an ARR (annual recurring revenue) of at least $100,000.
Some of the challenge’s key interest areas include:
- Reducing hospital readmissions
- Avoiding penalties from providers
- Providing post-acute care assistance
- Increasing overall patient satisfaction
How to apply:
Beginning on September 12, 2017, startups are encouraged to apply for the challenge at https://aarpinnovation.rockhealth.com. Submissions will be accepted until October 2 at 11:59PM PST. The top five finalists will pitch to a panel of judges at an event at the Rock Health office in San Francisco in December 2017. Once selected, the winner will receive a cash prize of $50K to continue improving the health outcomes and quality of life for low-income aging Americans.
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About AARP Foundation
AARP Foundation works to ensure that low-income older adults have nutritious food, affordable housing, a steady income and strong and sustaining bonds. We collaborate with individuals and organizations who share our commitment to innovation and our passion for problem solving. Supported by vigorous legal advocacy, we create and advance effective solutions that help struggling older adults transform their lives. AARP Foundation is the affiliated charity of AARP. Learn more at www.aarpfoundation.org.
About Rock Health
Rock Health is the first venture fund dedicated to digital health. Rock Health partners include Accenture, AbbVie, Blue Shield of California, Boehringer Ingelheim, Boston Children's Hospital, CVS Health, DaVita, ,Sanofi, Sutter Health, and Takeda. For more information, visit rockhealth.com.