gather: eldercare case study
TRANSCRIPT
2020 NATIONAL LAUNCH EVENT
● How We Got Here● Why Gather Works● Sustainability: Our Future
ETHEL
BRAINSTORM Processhow to develop ideas
How do we bring elders to community?
com·mu·ni·ty (noun)
kəˈmyo ͞onədē/
A group of interdependent organisms growing or living together in a specified habitat.
MIND THE GAP
DONA:“I don’t like doing things with people my own age much… they’re boring!”
com·mu·ni·ty (noun)
kəˈmyo ͞onədē/
A group of multi-generational organisms growing and interacting together in a specified habitat.
SILVER SCOUTS
One dot SF map
AGESONG pix
OUR FINANCIAL MODEL
Funded exclusively by a consortium of health insurance companies
$30,000,000 to date
Funding Model
Expensive treatments for loneliness-related health conditions
Preventative measures (gather logo)
Stanford Medical Research:Tracking Success
2017
50%
2018
70%
2019
80%
2020
85%
Estimated amount of health care costs averted through preventative interventions for depression alone: $106.9M to date
2017-2020 SF dots popping to CA
20 homes (approximately 100 elders per Senior Living Facility) in California in 201880 homes in the Bay Area 2019200 homes in California by 2020
Map of US
APPENDIX
Table A: Impact Summary
Cost of Operations: Categories
Cost of Operations: Growth● 2017: $600,000 (funded from social venture startup accelerator / federal grants)
○ In 2017, it was just the four of us working on CCA campus ($500,000 for salaries and benefits based on $100k salary and assuming benefits like PTO and healthcare plus taxes account for 1.25x base salary, estimated $100,000 for supplies, travel and other expenses).
● 2018: $1,563,000 (funded through our $5M funding round A, closed in December 2017)○ By 2018 we added another 4 team members (partner reps) and got subscriptions for office space at a
local coworking space ($1M for 8 FTE salaries and benefits, $63,000 for private office for 8 at WeWork SF, estimated $500,000 for supplies, travel and other expenses).
● 2019: $2,936,836 (funded through our initial $5M funding round A, closed in December 2017)○ By 2019 we added 6 more full-time staff and moved into our first office ($1.8M for total of 14 salaries plus
benefits, $136,836 for lease [assumes 150 sq ft/FTE at $5.43/sqft in SF for total 14 FTEs], estimated $1M for supplies, travel and other expenses as travel is becoming more significant).
● 2020: $4,085,706 (funded through this $20M funding round B of funding for our national expansion!)○ As of November 2020, we have 15 FTEs (in addition to our 4 cofounders) to support our growing network
($2.4M for total of 19 salaries plus benefits, $185,706 for lease [assumes 150 sq ft/FTE at $5.43/sqft in SF for total 19 FTEs], estimated $1.5M for supplies, travel and other expenses). (In addition to salaries, benefits and lease, our other overhead includes insurance and legal fees and other supplies (rough estimate $500,000/year).)
● National Rollout Plan (Future)○ The rest of the $20M national expansion funding will be used for the next three years of operations plus
the addition of 45 regional partner reps.
2020 Staff Structure
● Leadership team: Cofounders/Executives Chrissy Charlton, Dora Yang, Alex Rosandick and Allison Cooper
● Gather Board of Directors and Advisors — Includes our esteemed Innovation Studio professor — our first advisor and honorary cofounder — Raffi Minasian, who was crucial for bringing our team’s vision together. Also includes representatives from our investors, the arts community, the gerontology research field and a few key senior home partner representatives from the Association of Gather-Certified Partner Homes.
● Support staff (10) — Our support representatives ($80k/year/FTE + benefits) do periodic QA visits to each partner as well as answer support calls/requests from the partners.
● Regional Partner Representatives (5, increasing to 50 in next three years national rollout plan) — We currently have one Representative for each of our 5 regions in California, so to cover the other 90% of the country’s population we will need 45 more. This is the main piece (along with other partner acquisition marketing costs) that required this latest round of funding for our national expansion plans, as part of that plan we will be expanding over the next three years to 50 national regions.
“loneliness doesn't just affect how we live -- it can affect how long
we live.” A recent study shows that extreme loneliness
increases an older person's likelihood of premature death by
14 percent.
Senior Living Facilities: California
In California there are 1485 Assisted Living Facilities
The average cost is $3,750 per month
Partnership Structure
Gather fostered partnerships with the following programs because of the clear alignment between social inclusion objectives as well at the depth and breadth of operation on both national and local levels:
● Stanford Center for Medical Research● National and local Gerontology Associations● Girl Scouts of America and local chapters● Boy Scouts of America and local chapters● Rotary Club● Alzheimer’s Association
Fact: You will be OLD one day:)
