During Black History Month Pearl LTC launches Black and Women-owned SaaS marketplace matching seniors and providers in the high growth long term care industry
After spending my career focused on increasing equity across the entire healthcare spectrum, regardless of race or ethnicity, lack of timely, easy healthcare access affected my own grandmother Pearl”
— Myisha Gatson
PAEONIAN SPRINGS, VIRGINIA, UNITED STATES, February 25, 2022 /EINPresswire.com/ — Pearl Long Term Care Solutions (Pearl LTC), has launched the first fully online marketplace that matches consumers and providers with the best long-term care residences based on their preferred care level, budget and location. Pearl LTC is the first online search and booking engine for long term care. Myisha Gatson, Founder and CEO, announced the company’s first geographic region roll-out covering the District of Columbia, Maryland, Virginia and North Carolina. Residences featured on the site include Independent Living, Assisted Living and Memory Care Residences and Skilled Nursing Homes. The Pearl team has conducted in-depth consumer and provider requirements research, invented, planned and built a secure, patent-pending, user-friendly digital platform that will incorporate over 12,000 long term care providers into the Pearl LTC system. Additional regional launches are planned throughout 2022.
Myisha Gatson was driven both by her professional career in healthcare solutions delivery and her personal frustration with finding care for her maternal grandmother on a timely basis. By founding Pearl LTC, Gatson leveraged her substantial career experience as a senior healthcare policy-maker and implementer to found Pearl LTC. Her leadership positions in healthcare include Director – National NAACP Health Department, Mobilization Director of the Black AIDS Institute, State Officer (CMS-CCIIO) working with 9 states to implement the Affordable Care Act; and Director of Provider & Hospital Engagement, DHHS – Office of the Secretary where she served as the lead for provider and hospital engagement for the Secretary of the U.S. Department of Health & Human Services, which involved convening and engaging partners around Obama Administration priority areas including Opioids, Electronic Medical Records, Delivery System Reform, Zika, Ebola, Affordable Care Act and other federal health regulations and policies.
Ms. Gatson explains her entrepreneurial motivation, “Pearl Long Term Care Solutions was inspired by my own personal struggle as I urgently helped my family find a skilled nursing home for my grandmother Pearl when she lost her mobility due to diabetes related complications. After spending most of my career focused on increasing equity across the entire healthcare spectrum, regardless of race or ethnicity, lack of timely, easy healthcare access affected my own family. It is important for me to launch Pearl LTC during Black History Month to raise awareness around health equity as it relates to senior housing.”
Keith Crownover, Associate Partner, Stoneridge Partners, and healthcare technology veteran, expressed both his professional and personal perspectives with regard to Pearl LTC’s innovative platform. “I wish that Pearl LTC had been around when I was faced with decisions regarding the care of my parents. As children, we want to honor and respect our parents’ wishes to stay in their own homes. Sadly, the aging process is unrelenting and unpredictable and we often find ourselves in a crisis situation with little knowledge, resources, or time available to make these very critical decisions. Pearl LTC is a gift to families who find themselves forced to make a decision as to what is best for Mom or Dad.”
Meeting the explosive growth in senior long term care, Pearl’s online service matches senior residents with the right facility, according to self-selected criteria including level of care, room type, move-in date, location, length of stay, and budget. According to Senior Housing News in 2017, 6,000 online searches for long term care occurred every hour; recent data suggests that number in 2022 is 15,500 online searches per hour. According to the U.S. Census Bureau the aging population and their need for long-term care is increasing exponentially; by 2050 22% of the U.S. population will be 65+. 70% of those who reach the age of 65 will need some form of long term care. Facility-based long-term care accounts for 32% of the total long-term care market. In 2016, the latest year for which data is available, there were 44,500 nursing homes and residential care communities in the United States serving nearly 2.5 million residents. Spending for all services throughout the entire long-term care market in 2020 is estimated to be $443.1B with an expected CAGR of 6-8% per year.
Providers face high customer acquisition costs – on average internal sales managers spend 14 hours to convert one lead into a move-in with a 90 day sales cycle on average and at only a 10-23% success rates. The long term care industry has historically low occupancy rates – averaging around 85-90% between 2000-2022, with up to 15% of their inventory as unoccupied cost centers that reduce profits. Long term care providers are actively searching for solutions that will help them recover and rebound from the COVID pandemic. They are enthused about how Pearl LTC can reduce sales staffing costs and time from lead generation through resident admission by digitizing residence management, payment, placement, and intake processes on one easy-to-use platform.
About Pearl Long Term Care Solutions:
Pearl Long Term Care Solutions (Pearl LTC) has created the first fully online SaaS solution for long term care bookings. Pearl LTC’s mission is to support empowered decision-making for those in search of long term care. The Pearl marketplace enables consumers and their care team to search, book and manage long term care stays entirely online. Long term care providers are able to reduce staffing costs and time from lead generation through resident admission by digitizing residence management, payment, placement, and intake processes on one easy-to-use platform. Pearl LTC is currently raising a funding round with a fully functioning marketplace platform built and in operation. The company has been certified as a Small, Women and Minority-Owned (SWaM) business by the Commonwealth of Virginia and recognized as such for doing business with federal and state governments. For more information about the company or to use its innovative search and booking engine visit Pearl Long Term Care Solutions or email info(at)pearlltc.com.
Pearl LTC demo video
You just read:
EIN Presswire’s priority is source transparency. We do not allow opaque clients, and our editors try to be careful about weeding out false and misleading content. As a user, if you see something we have missed, please do bring it to our attention. Your help is welcome. EIN Presswire, Everyone’s Internet News Presswire™, tries to define some of the boundaries that are reasonable in today’s world. Please see our Editorial Guidelines for more information.