Nearly three dozen industry operators and investors are backing a newly formed company with a “triple aim” to improve resident experience, healthcare outcomes and care costs.
The new company, Serviam Care Network, this week announced it had acquired senior living lead platform SeniorVu. The terms of the deal weren’t disclosed.
Backing Serviam are 20 investors and 12 senior living operators that the company will reveal at a later date, according to former SeniorVu CEO and current CEO of Serviam, Tim Donnelly. With such a broad cross-section of industry stakeholders, he believes the organization will have a unique and holistic perspective of the industry’s ongoing shift toward a more preventive care-oriented system.
“Our movement is very much connected to that endpoint of value-based care, and getting alignment of the care providers,” Donnelly told Senior Housing News.
The launch of Serviam comes as other players in the senior living industry focus on the shift to value-based care. Donnelly exemplified the shift by highlighting other organizations with similar focuses, including the Perennial Consortium, an operator-owned MA network; and Lifespark, which is forging partnerships with payers in value-based arrangements.
In conjunction with the acquisition, Serviam has launched a new platform called Via, which includes a CRM, job applicant tracking system and integrated contact center. In launching the new platform, the company is looking to more closely align the different moving parts in senior living operations, and support them with technology and data.
Specifically, he sees the new company tackling the “triple aim” of fostering a better resident experience, improving health care outcomes and lowering costs associated with them.
Two of Serviam’s big initiatives with the platform are to aid operators with two of their biggest current operational challenges: Occupancy recovery and staffing.
“If you think about the two most important journeys that are managed at a local level, it’s the journey of the senior and it’s the journey of the caregiver,” Donnelly said. “And we’re helping those operators better manage those journeys.”
Serviam, which is Latin for “I will serve,” is also a public benefit corporation, which Donnelly described as “a legal structure that requires the ownership of the company to publicly hold themselves accountable to their purpose.”
Looking down the road, he sees Serviam as serving as “an aggregator of meaningful stakeholders” in the movement to value-based care.
“We’re going to really focus on getting people to work together,” he said. “One of the themes that we have as an organization [is that ]we have to come together as a force for good.”