Startups See Opportunities in Aging Well

Startups targeting the senior caregiver market are burgeoning, with finalists in the Aging Startup Challenge in Minneapolis particularly praiseworthy, reports Forbes . The finalists were fledging ventures with results driven largely from small test markets. Their business models show potential, but scaling up a business is always difficult. The San Francisco-based Golden: Financial Care for Your Parents targets adult children caregivers assuming their parents' finances after a health-related setback. The parents usually live off a fixed income and Golden seeks to increase household income. Golden's offerings include helping to gather a parent's finances in one place for online monitoring, identifying care payment options and potential government benefits, suggesting how to reduce expenses, and establishing a bill-paying calendar. Another notable finalist is Tending, an online care coordination platform and concierge service for caregivers that also is headquartered in San Francisco. The startup partners with hospitals, physician groups, and insurers to offer care coordination, and its average customer's age is 85. Its revenue is derived not only from consumer fees, but also from hospitals, medical groups, and insurers. Iris Plans of Austin, Texas, is a technology-enabled, advanced planning service focused on seniors with serious illnesses. The startup uses healthcare professionals to guide families through their future healthcare options, and remote family members join the conversation through video. The service is covered via partnerships with healthcare providers and health insurers.