Ripple increases $32 million to build the future of mental health care for older people
SEATTLE, September 28, 2022 /PRNewswire/ — undulationa mental health company focused on caring for seniors with dementia and other neurocognitive conditions, launched today with $32 million in seed round funding led by ARCH Venture Partners and General Catalyst. The round also includes investments from GV, F-Prime Capital and Mass General Brigham Enterprises.
“Mental health care for the elderly doesn’t work,” said the CEO and co-founder. kris engskov. “Our country’s health care system is not designed to address the needs of older people with mental health challenges, particularly those battling dementia and Alzheimer’s disease, leaving many families and caregivers to navigate alone.” for these complex conditions. We can no longer accept the status quo. From access and convenience to quality and equity, Rippl is rethinking what it takes to keep seniors with these specialized conditions healthier and at home, and outside of the emergency room and long-term care.
Rippl is pioneering a new model of care to be offered by health plans that will dramatically expand access to high-quality, comprehensive mental health care for seniors with dementia and other neurocognitive disorders, with an emphasis on making the experience work better for older people, their families and carers. The Rippl model, underpinned by user-friendly and disruptive technology, will provide 24/7 access to care from experienced and passionate clinicians whenever and wherever seniors need it: by phone, in online or in their living rooms.
Redefining what it means to care for older people with these conditions also means embracing a work culture in which clinicians can thrive. With a revolutionary new platform, an industry-leading compensation, benefits and equity package, and a mission-driven culture, Rippl will empower and enable its physicians to deliver exceptional, personalized mental health care to seniors and their families. The company is also working with leading clinical teaching institutions to design and build a Rippl Academy focused on upskilling its existing team and actively attracting more clinicians into the space.
“We know that when we obsessively care about our doctors, our patients and families will get the care they deserve,” he said. carrie austinVice President of Clinical Operations.
The mental and behavioral health of older people is a massive hidden public health crisis. The total national cost of caring for dementia patients, including those with Alzheimer’s disease, is projected be be $321 billion in 2022, which does not include the financial and emotional cost of family caregivers. Older people with neurocognitive mental health conditions and their families have little access to high-quality, hands-on, real-time care, and are 3.5 times more likely to visit the emergency room and three times more likely to be admitted to hospital . These patients cost Medicare 2.5 times more than older people without cognitive impairment. This problem will only become more urgent with 16 million American adults over the age of 50 living with a mental, behavioral, or emotional disorder today, and more than eight million living with Alzheimer’s disease alone.
“One of the most obvious but unaddressed areas of health care is how we treat older people with cognitive impairments at home,” he said. Robert Nelson, Co-Founder and Chairman of the Board of Rippl, and CEO of ARCH Venture Partners. “We saw an opportunity to make a big impact. We brought together a diverse team of people who come from a variety of backgrounds. What connects them is that they are all caregivers. We have a shared drive to redefine what a healthcare company is” . it seems, and that’s putting doctors at the center of every decision we make.”
“Rippl is redefining healthcare for the elderly in a way that should have been done a long time ago,” he said. holly maloney, CEO of General Catalyst. “We believe Rippl’s approach will lead to higher quality care, better patient outcomes, and help ease the burden on families and caregivers in need of support. General Catalyst is proud to support Rippl in this seed funding round.” and we’re excited to see their services build.”
Rippl will use its seed funding to hire and train a team of world-class doctors, develop technology, and open a washington stateclinical support center based on the launch of pilot networks in two regions, starting from Seattle.
Rippl is led by a diverse group of healthcare and consumer product change makers, all with experience as caregivers, including the CEO and co-founder. kris engskov, former president of Starbucks Coffee US and president of Aegis Living; Co-Founder and Vice President of Strategy and Innovation Inca Dieterich, PhD; medical director Aaron Greenstein, MD; Personnel director jesse schlueter; Vice President of Clinical Operations Karrie Austin, RN; and Vice President of Finance jim terry.
About Ripple
Rippl is a new kind of mental health company focused on seniors and obsessed with their doctors. Older people with mental health problems, especially neurocognitive conditions such as Alzheimer’s disease and other dementias, are ignored and underserved, often without access to practical, high-quality, real-time care. Leveraging a values-based approach, disruptive technology, and a relentless focus on empowering and training its clinicians, Rippl is pioneering a new model of care to dramatically expand access to high-quality, comprehensive mental health care for seniors, their families and caregivers. Rippl provides 24/7 support and personalized attention when and where they need it: over the phone, online, or in their living rooms. Founded by a group of impatient optimists and entrepreneurs from the nation’s most iconic consumer and healthcare brands (who have been caretakers), and backed by visionary venture capitalists ARCH Venture Partners, General Catalyst, GV, F- Prime Capital and Mass General Brigham, Rippl is ready to meet this urgent challenge. Our seniors deserve so much better. Join our movement on ripplcare.com.
SOURCE Rippl Care
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