With the pandemic digitizing every aspect of our lives, the Creator Economy has taken off like never before, with some estimates saying it’s now a $100Bn+ market. And yet, managing your professional life as a model, actor, writer or designer remains a mish-mash of emails, manual booking processes, and dreaded PDFs. Creatives face late payments, often opaque industry practices, even as top talent agencies have collectively achieved a valuation of $20Bn in value. But while modeling talent can be charged as much as a 20-40% commission fee, social media has been gradually displacing traditional agencies by reducing the barriers to entry and making talent more accessible. However, as everyone knows, social media is nowhere near a place anyone can manage their career.
Late last year the Contact platform launched, initially offering models a way to take bookings and manage some aspects of their work. It’s now looking to address the wider problems referred to above, with a new round of funding involving some key players in the creative industries.
It’s backed and supported by Maisie Williams, best known for her work on Game of Thrones, who has become Creative Strategist and Advisor to the startup after becoming a passionate advocate for better conditions for creatives in the industry.
Contact has now raised a $1.9 million (£1.4 million) Seed round of funding led by Founders Fund. Also participating is LAUNCH (the fund led by investors Jason Calacanis), Sweet Capital (via Pippa Lamb), Rogue VC (via Alice Lloyd George) and Angel investors Simon Beckerman (co-founder of Depop), Eric Wahlforss (co-founder of SoundCloud and now Dance), Abe Burns and Joe White.
Although Contact’s initial incarnation is addressing the modeling world, its vision is far bigger. Contact co-founder and CEO Reuben Selby — a fashion designer who was formerly of William’s founding team, when she started her career — has worked with Nike, Thom Browne, and JW Anderson. He says the platform aims to become a scalable back-end solution across the $104.2 Billion Creator Economy, “democratizing” access to the world’s best creative talent.
Selby, who recently spoke about being a founder with autism is also the founder and creative director of his own label Reuben Selby, and co-founder of Cortex a creative agency and community. Selby is joined by CTO Josh McMillan previously of Deliveroo, Daisie, the Government Digital Service, and among others.
While its competitors might, broadly speaking, include Patreon, Creatively, and The Dots, it’s fair to say that Contact’s vision to bring many aspects of these platforms under one roof could be described as ambitious, it is also tantalising.
In a radical move for what is an industry dominated by agencies, individuals and businesses can discover and book creators and creative services directly, without going through an agency.
Contact initially launched its platform in October 2020 with the ability to discover and book fashion models, but post-fundraising plans to roll out other creative verticals such as photographers, stylists, videographers, and more.
Selby says the idea for Contact has been informed by his own personal experiences trying to break into the creative industry as a model, photographer, and creative director. After finding scant methods for secure and safe ways to get paid – while booking companies lacked basic technological tools – he realized that ‘middle-men’ and agencies were there main ones that benefitted, taking cuts on both sides and often still delivering a sub-par-product.
So how does Contact work?
When a Creator joins, they are able to showcase their portfolio across different creative services and take direct bookings.
A business can then browse and discover talent using filters, shortlist creative talent, providing details about the job, and book creators directly. Creatives can accept or reject jobs via the web platform or, soon, via a smartphone app. Once the job has been completed, the talent gets paid out via Contact.
Since soft-launching within the modeling vertical, Contact says it has onboarded almost 600 creatives and over 1,400 clients including Depop, Farfetch, Nike, Vivienne Westwood, and Vogue. Users of the platform have increased 100% YoY, says the startup.
Selby says Contact intends to remain in the background and allow the talent to brand itself independently across different verticals. Crucially, Contact does not take money from creators, only booking companies, from which it will levy a 20% fee on transactions.
Commenting, Trae Stephens, Partner at Founders Fund, said: “We are always excited when we find founders who seem to have been born to build a specific company. Reuben definitely seems like one of those founders. We are really excited to watch the company scale and expand into new creative verticals.”
Pippa Lamb, Partner at Sweet Capital, added: “The team at Contact have been pushing frontiers in the creator economy long before ‘the creator economy’ became a buzzword. Contact possesses a rare combination of world-class technical talent with the raw innovation of today’s most creative minds. We are excited about this next chapter.”
Williams, best known for playing Arya Stark on Game of Thrones, is no stranger to working on startups. She previously contributed to the Daisie platform, which continues to connect creators with one another to work on each others’ projects, helping creators find collaborators for their art.
But clearly her desire to disrupt the creative world largely controlled by ‘middle men’ was not sated by the experience.
Speaking to me in an exclusive interview, Williams and Selby outlined their vision:
Selby said the existing marketplace for models is just the start: “The vision has always been about creatives, and getting creatives paid for their work. We basically started out in one vertical, the modeling industry… and we’re in the process of rolling out new verticals so bringing on photographers, makeup artists, stylists, etc. But that’s a very very small part of the overall vision.”
He said the focus now is “on the distribution of work, how that relationship works with that audience, how they can monetize it. So it’s basically giving them a toolkit to monetize their creativity rather than just the physical constraints. That’s what we’re exploring right now. We have this marketplace but we see that as being a very small part, but the larger piece.”
He said the marketplace model can connect brands directly to creators or creatives, but, he said, brands continue to have a great deal of power: “The creators are just sitting there waiting for somebody to give them something. So we’re now working out how they can just distribute by their own work and monetize it in their own ways, with the back end of how all of the logistics work, and the operational side handled by the product that we’ve built, handling the payments and the licensing and insurance.”
Despite being a major Hollywood star, Williams told me the creative and entertainment industry she’s familiar with and works in remains stuck in an old world of emails and links, rather than the kinds of platforms the tech industry is used to building and using: “Being someone who has been represented by talent agencies for my career, that whole interaction online is emails. At no point are any of the assets digitised. There’s no ‘vault’ where all of my scripts go. There’s no place where I can upload all of my audition tapes. It’s always just a link in an email. There’s not really an industry standard. From an agency perspective, none of the work that they is very streamlined or directional.”
She says that need to change: “There’s a casting process and at the moment, and it’s a hugely dated way of doing things between the casting directors and the actors, the writers etc. We want to build a very streamlined process.”
Speaking about the investors he’s assembled to back Contact, Selby said the team chose Founders Fund to be their lead investor because of their approach: “The way that they work with founders… I found that personally very empowering. [They] give you a lot of freedom and space to think creatively. So there was a clear alignment.”
Talking about the other Angel investors in the round he said: “People like Eric and Simon are majorly connected in fashion and music culture in general.”
Speaking about how the entertainment industry might react to Contact, Williams said: “Actors have many other things that they do. Being able to have a platform that they can monetize all those other things is really important, especially because, as an actor you spend a lot of time unemployed.” But said the system is constructed in such as a way that “you’re only valuable as the auditions your agent puts you up for. It’s not very inspiring or rewarding. So a lot of actors make their own shows on streaming platforms or create their own documentaries or sell their work in other ways.”
She said Contact wants to be able to facilitate that through the platform, and for creatives to have more independence: “The film industry and the music industry is full of incredibly talented people who are multi-talented across many different industries. But they are still, kind of held by representatives and agencies and record labels or managers who have a lot of power in, sort of, keeping them ‘small’. Being able to introduce something which can offer so many other tools, I think, is really important.”
It’s clear that the vision Selby, his co-founders, and Williams have, is very big. The question is, will they be able to pull it off?
It has to be said, however, that the combination of a passionate Gen-Z-influential team (with added star power), a full-blown technology platform, heavyweight US investors, and Angels pulled from creative industries certainly points to the potential for success.
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Digital pensions platform Penfold raises $8.5M Series A led by Bridford Group – TechCrunch
Penfold, a digital pensions platform, has closed a £7m ($8.49m) Series A funding round led by Bridford Group, an investment group.
Also participating in the round was Jeremy Coller, Chief Investment Officer and Chairman of Coller Capital. Penfold also raised additional funding via a crowdfund amongst its customer base. The cash will be used to expand Penfold’s workplace pension division.
Chris Eastwood, Co-Founder at Penfold, commented (in a statement): “It’s been a big year for Penfold – from launching our workplace pension offering, to reaching £100m AUA.”
Bridford Group, lead investor, commented: “The pensions industry represents a huge market – with £8trn in savings in the UK alone. Despite this, many people remain uninterested and unengaged in their pensions. With so many people not saving enough, there’s a real opportunity for a new provider to step in.”
After the FBI raid at Mar-a-Lago, online threats quickly turn into real-world violence – TechCrunch
Threats of violence reached a fever pitch — reminiscent of the days leading up to the Capitol attack — following the news that the FBI raided Trump’s Florida beach club to retrieve classified documents the former president may have unlawfully taken there.
After Trump himself confirmed Monday’s raid at Mar-a-Lago, pro-Trump pundits and politicians rallied around declarations of “war,” and Trump’s ever-fervent supporters called for everything from dismantling the federal law enforcement agency to committing acts of violence against its agents. The situation escalated from there in record time, with online rhetoric boiling over quickly into real-world violence.
By Thursday, an armed man identified as Ricky Shiffer attempted to force his way into an FBI office in Cincinnati, Ohio, brandishing a rifle before fleeing. Law enforcement pursued Shiffer and he was fatally shot during the ensuing standoff with police.
Analysts with the Institute for Strategic Dialogue (ISD), a nonprofit that researches extremism and disinformation, found evidence that Shiffer was driven to commit violence by “conspiratorial beliefs related to former President Trump and the 2020 election…interest in killing federal law enforcement, and the recent search warrant executed at Mar-a-Lago earlier this week.” He was also reportedly present at the January 6 attack — another echo between this week’s escalating online threats and the tensions that culminated in political violence at the Capitol that day.
Shiffer appears to have been active on both Twitter and Truth Social, the platform from Trump’s media company that hosts the former president and his supporters. As Thursday’s attack unfolded, Shiffer appeared to post to Truth Social about how his plan to infiltrate the FBI office by breaking through a ballistic glass barrier with a nail gun had gone awry. “Well, I thought I had a way through bullet proof glass, and I didn’t,” the account posted Thursday morning. “If you don’t hear from me, it is true I tried attacking the F.B.I., and it’ll mean either I was taken off the internet, the F.B.I. got me, or they sent the regular cops…”
In posts on Truth Social, the account implored others to “be ready to kill the enemy” and “kill the FBI on sight” in light of Monday’s raid at Mar-a-Lago. It also urged followers to heed a “call to arms” to arm themselves and prepare for combat. “If you know of any protests or attacks, please post here,” the account declared earlier this week.
By Friday, that account was removed from the platform and a search of Shiffer’s name mostly surfaced content denouncing his actions. “Why did you censor #rickyshiffer‘s profile? So much for #truth and #transparency,” one Truth Social user posted on Friday. Still, online conspiracies around the week’s events remain in wide circulation on Truth Social and elsewhere, blaming antifa for the attack on the Ohio FBI office, accusing the agency of planting documents at Mar-a-Lago and sowing unfounded fears that well-armed IRS agents will descend on Americans in light of Friday’s House passage of the Inflation Reduction Act.
“‘Violence against law enforcement is not the answer no matter what anybody is upset about or who they’re upset with,’ FBI director Christopher Wray said in light of emerging threats of violence this week. Trump appointed Wray to the role in 2017 after infamously ousting former FBI director James Comey.”
Friday is also the five-year anniversary of the Unite the Right rally, which saw white nationalists clad in Nazi imagery marching openly through the streets of Charlottesville, Virginia. The ensuing events left 32-year-old protester Heather Heyer dead and sent political shockwaves through a nation that had largely grown complacent about the simmering threat of white supremacist violence.
Diagnostic Robotics has AI catching health problems before they take you to the ER – TechCrunch
A stitch in time saves nine, they say — and a blood thinner in time saves a trip to the emergency room for a heart attack, as Diagnostic Robotics hopes to show. The company’s machine learning-powered preventative care aims to predict and avoid dangerous (and costly) medical crises, saving everyone money and hopefully keeping them healthier in general — and it’s raised $45 million to scale up.
It’s important to explain at the start that this particular combination of AI, insurance, hospital bills, and “predictive medicine” isn’t some kind of technotopian nightmare. The whole company is based on the fact that it’s both better for you and cheaper if you, for example, improve your heart health rather than have a heart attack.
That’s why your doctors tell you to cut down on red meat and maybe even take a cholesterol-maintenance medication instead of saying “well, if you have a heart attack just go to the ER.” It’s just common sense, and it also saves patients, hospitals, and insurance companies money. And don’t worry, this kind of prediction can’t be used to raise your premiums or deny care. They want you making monthly payments — they just don’t want to have to shell out for a $25,000 operation if they can help it.
The question is, what about less obvious conditions, or ones that patients haven’t had specific tests for? This is where machine learning models come in; they’re very good at teasing out a signal from a large amount of noise. And in this case what the AI was trained on is 65 million anonymized medical records.
“We see how people look before the problems — everything we do is preventative care,” said Kira Radinsky, CEO and co-founder of Diagnostic Robotics. “It’s all about offering the right intervention, at the right time, to the right patient.”
She noted that providers often focus on the most expensive patients in order to reduce costs — for example, someone with advanced heart disease. But while acute and maintenance care continues to be important for them, that money has already gone out the door. On the other hand, if you diagnose someone with early signs of congestive heart failure, you can stop it from advancing and save money and possibly even a life. And the technique applies beyond things that can be detected in labs.
“Say the challenge is to find patients suffering from depression or anxiety, but aren’t taking any medications,” Radinsky proposed. “How do you identify someone with depression or anxiety based on medical records? We identify the entropy of their visits — lots of providers, lots of complaints — that’s a strong signal. Then you do specific questions, a medical triage, and you get them connected to a psychologist or psychiatrist, and they’re no longer deteriorating.”
The company claims it can reduce ER visits by three quarters, which is important beyond the immediate benefits for a person and their provider; ERs and urgent cares are overwhelmed in the U.S., paradoxically due to the pervasive fear of incurring huge medical expenses.
In many cases, she said, medical providers or insurers will offer medications or treatment for free or at nominal cost, since they know they’re saving themselves a bigger bill down the line. Sure, it’s all out of self-interest, but that means you can trust them.
The Tel Aviv-based Diagnostic Robotics just raised a big $45 million B round, led by StageOne investors, with participation from Mayo Clinic, Technion (Israel Institute of Technology) and Bradley Bloom. Radinsky said this will help the company start working more directly with providers, taking on more holistic health goals in addition to specific high-risk conditions. (The company currently tracks around 20.)
A pilot test of this broader approach was recently validated in a study of a few hundred patients, in which the AI-prepared health plan was statistically indistinguishable from a clinician’s. The company is already serving millions of patients in some capacity, in Israel, South Africa, and in the U.S., with Blue Cross Rhode Island.
If they expand to your provider, don’t expect some kind of robotic examination, though the name obviously suggests this.
“You’ll get phone calls from care managers offering additional treatments, for free or almost for free,” Radinsky said. The AI will already have done its work, and maybe your test results and location suggest you’re at risk for something — and you’d do well to take these recommendations seriously. AI may have a lot of room to grow still but it’s good at sniffing out statistical correlations.
She was careful to add that they are also actively working on finding, defining, and mitigating bias in the algorithms, whether it results from biased data or human error somewhere else along the lines. “What the algorithm is trying to do is see who will benefit the most,” Radinsky explained, but as with other forms of AI and machine learning, only careful monitoring will tell whether its idea of who benefits matches the real world.
Amazon-owned MGM makes a viral video show with surveillance footage from Amazon-owned Ring – TechCrunch
MGM (which is owned by Amazon) is making a viral video show based on footage from Ring security cameras (also owned by Amazon). The syndicated television show, “Ring Nation,” is poised to be a modern-day, surveillance-tinged spin on “America’s Funniest Home Videos” with Wanda Sykes as host.
According to a report in Deadline, the show will feature Ring footage of “neighbors saving neighbors, marriage proposals, military reunions and silly animals.” Ring is also known for activities like accidentally leaking people’s home addresses and handing over footage to the government without users’ permission.
Between January and July of this year, Amazon shared ring doorbell footage with U.S. authorities 11 times without the device owner’s consent. Ring has been critiqued for working unusually closely with at least 2,200 police departments around the United States, allowing police to request video doorbell camera footage from homeowners through Ring’s Neighbors app. Like Citizen and Nextdoor, the Neighbors app tracks local crime and allows users to comment anonymously — plus, Ring’s police partners can publicly request video footage on the app.
An executive at MGM, Barry Poznick, praised the new show: “From the incredible, to the hilarious and uplifting must-see viral moments from around the country every day, Ring Nation offers something for everyone watching at home.”
But perhaps what viewers at home really want is data privacy.
Ring only started disclosing its connections with law enforcement after fielding demands for transparency from the U.S. government. In a 2019 letter, Senator Ed Markey (D-MA) said that the company’s relationship with police forces raise civil liberties concerns.
“The integration of Ring’s network of cameras with law enforcement offices could easily create a surveillance network that places dangerous burdens on people of color and feeds racial anxieties in local communities,” Sen. Markey wrote. “In light of evidence that existing facial recognition technology disproportionately misidentifies African Americans and Latinos, a product like this has the potential to catalyze racial profiling and harm people of color.”
Amazon bought the smart video doorbell company in 2018 for $1 billion, then bought MGM for $8.5 billion earlier this year. Now, these two investments — which seemingly have nothing to do with each other — are merging to create a late-capitalist dystopian spectacular that we couldn’t have imagined in our worst nightmares. Amazon also just spent $1.7 billion on iRobot, maker of the Roomba vacuum, but we will not dare to imagine how that acquisition may one day inspire a horrifying TV show.
Teens have abandoned Facebook, Pew study says – TechCrunch
Gen Z internet use is on the rise, but the rate at which teens use Facebook is rapidly declining. A Pew Research Center study on teens, technology and social media found that only 32% of teens aged 13-17 use Facebook at all, but in a previous survey from 2014-2015, that figure was 71%, beating out platforms like Instagram and Snapchat.
Jules Terpak, a Gen Z content creator covering digital culture, told TechCrunch that teens just don’t find value in Facebook anymore.
“There are now well over five strongly positioned social media platforms to endlessly scroll through, and it isn’t sustainable for our minds to compartmentalize nor prioritize our relationship with all of them,” Terpak said via email. “For the sake of time and sanity, people have to eliminate platforms that begin to lack a value-add incentive.”
Terpak thinks that Facebook, which teens often associate with their parents, has little to offer Gen Z.
“The culture cultivated by the average Facebook user is very disconnected from what attracts Gen Z to a platform today, instead exuding the energy of a spam email,” she said.
Even in 2013, when 77% of online teens used Facebook, young users still felt negatively about the platform.
“While Facebook is still deeply integrated in teens’ everyday lives, it is sometimes seen as a utility and an obligation rather than an exciting new platform that teens can claim as their own,” Pew’s report from 2013 said. In that nine-year-old study, Pew found that teens expressed more enthusiasm for other platforms, even if they weren’t using them as much as Facebook. That trend has remained constant — as new generations of teens join social media, they’ve almost abandoned Facebook altogether.
Pew’s new findings are also consistent with Facebook’s own internal reporting, according to documents leaked by whistleblower Frances Haugen. A Facebook researcher found in early 2021 that teenage users on Facebook’s app had declined 13% since 2019 and projected that the figure would continue to plummet 45% over the next two years. Overall, Facebook usership has remained somewhat stagnant, but this drop-off in a key demographic is bad news for Facebook’s ads business, which makes up the bulk of its revenue.
“Most young adults perceive Facebook as a place for people in their 40s and 50s,” said the 2021 internal Facebook document obtained by The Verge. “Young adults perceive content as boring, misleading, and negative.”
Instagram is not far behind TikTok
Even if teens are tired of Facebook, they haven’t given up on Instagram, another Meta platform. Sixty-two percent of teens use Instagram, up from 52% in the 2014-2015 survey. But TikTok, which wasn’t even released at the time of the last study, is now used by 67% of U.S. teens. Ninety-five percent of teens say they use YouTube, which may make it seem like it’s the dominant social platform — but many users interact with the platform simply to watch videos, rather than as a place to connect with others online. For example, a teen who uses YouTube to listen to music would be included in that 95%.
But as TikTok inches above Instagram and Snapchat — which are used by 62% and 59% of American teens, respectively — it makes sense why these older platforms are so desperate to mimic their newer competitor.
Pew also asked the 1,316 surveyed teens about the frequency with which they use these apps. But TikTok still earned a greater share of teens’ attention than any platform aside from YouTube, which 19% of teens say they use “almost constantly.” TikTok, Instagram and Snapchat earned this “almost constant attention” from 16%, 10% and 15% of teens respectively. Only 2% said this about Facebook.
These “almost constant” admissions might seem alarming, but teens are aware that social media usage may not always provide the social connection they hope for. Thirty-six percent of teens think that they spend too much time on social media. Conversely, only 8% of teens said that they think they don’t use social media enough.
If you think Gen Z is full of phone-addicted zombies, though, you might be wrong. Forty-five percent of teens said that they wouldn’t have trouble giving up social media. More power to them.
Google Meet’s new feature lets users consume YouTube and Spotify together – TechCrunch
As Google continues the great merger between its Duo and Meet video communications apps, the company today announced that it’s introducing new Apple SharePlay-like live-sharing features to Meet, making it easier for call-participants to engage with content together in real time.
It’s worth noting that Google already introduced some live-sharing features (e.g. watching YouTube videos together) to Duo back in February, and now it’s bringing them to Meet as the part of the merger.
The live-sharing feature will let users watch YouTube videos together, for example, and listen to songs on Spotify or play games such as Heads Up!, UNO! Mobile or Kahoot!.
These new features will be available under a new Activities tab — which also hosts Q&A and polls options — and is accessible through the three-dot menu. From there, users can start a shared activity — for instance, if they want to listen to a Spotify track together, they would tap on the Spotify icon and Meet redirects them to the Spotify app where they can join a group session. Notably, the group session feature is only available for Spotify Premium customers, with support for two to five participants.
Last week, Google took the next step of merging both video calling apps by updating the icon for Duo and renaming it Google Meet. As for Google Meet, it will be now called “Google Meet (original),” with a green icon — yes, it’s all very confusing. The tech giant has been adding other new features to Meet, too, such as instant and schedule meeting options, in-meeting chat, and virtual backgrounds.
While these latest updates work well for Meet calls across different platforms, consumers embedded in Apple’s ecosystem will already be familiar with this type of social content consumption through SharePlay, which works across a broader array of apps such as Apple TV+, TikTok, Disney+, Hulu, HBO Max, NBA, Twitch, TikTok, MasterClass, ESPN+, Paramount+, Pluto TV, Apple Fitness+, and Apple Music.
This Yale alum wants to build a telemedicine platform expressly for Alzheimer’s disease – TechCrunch
Nikhil Patel is the kind of founder who investors adore. He’s a brainiac who, before studying computer science at Yale, spent three years in high school working as a research associate at the University of Central Florida. “I started working there before I could drive, and it was the most embarrassing thing to get dropped off by my mom at the office,” he says with a laugh.
Patel also has a personal connection to the problem he is trying to solve, that of trying to diagnose and address Alzheimer’s disease as early as possible. Watching his grandmother lose ground to Alzheimer’s, and understanding, from a young age, that an early diagnosis and intervention can delay the onset of dementia, he centered his research on building Alzheimer’s-related computerized diagnostics — which wasn’t easy to pull off as a teenager. (He says he finally found one professor who was willing to publish his findings under the auspices of the lab after more than 100 others turned him down.)
Patel did get a wee bit distracted. After graduating from college, he logged time at a “couple of different hedge funds” and at Goldman Sachs where he worked on trading algorithms. But by early last year, as another relative was diagnosed with Alzheimer’s, he returned to earlier work, founding Craniometrix, which is today a tiny, three-person operation with sizable ambitions.
So far, the team has raised $6 million in seed funding for a HIPAA-compliant app that, according to Patel, can help identify Alzheimer’s disease — even years before symptoms appear — after just 10 minutes of gameplay on a cellphone. It’s not purely a tech offering. Patel says the results are given to an “actual physician” affiliated with Craniometrix who “reviews, verifies, and signs that diagnostic” and returns it back to a patient.
But the company’s backers — including Quiet Capital, Defy.vc, Olive Tree Capital, Rebel Fund, J Ventures, Cathexis Ventures and Y Combinator — and really betting on Patel and his bigger vision to create a one-stop, direct-to-consumer tele-medicine platform that not only helps with early Alzheimer’s detection but that also provides ongoing support to patients and their caregivers.
It’s a concept that Neil Sequeira of Defy says he rallied around easily, given his firm’s interest in startups that use tech to improve upon legacy healthcare businesses. (Others of Defy’s bets include a cloud-based lab management startup called Genemod and Apploi, a healthcare hiring platform.)
But Sequeira suggests that he might back anything Patel worked on. In fact, he says he met Patel through another CEO whose stealth startup Defy has funded and who, when asked about the smartest person he has ever met, pointed to Patel.
Only time will tell whether those smarts will successfully bolster a big business, but unsurprisingly, Patel already has a roadmap.
While step one centers on people who are concerned about developing Alzheimer’s, want to self-screen at home, and will receive a doctor-reviewed diagnostic report from the company within 48 hours, Craniometrix expects to soon offer real-time doctor access to customers who may have questions and concerns after receiving their report.
Craniometrix also plans to create bundled monthly subscriptions that will include point-in-time screenings, access to live doctor assistance, and other tools to address symptom management and caregiver support.
It’s a big market, Patel argues. He asserts that caregivers today spend $3,000 a year out of pocket on the types of services that Craniometrix will eventually offer online. He also notes that while the direct-to-consumer market alone is a big opportunity, he is already having “interesting conversations” with health plans about using tools like those that Craniometrix is developing to cut down on unnecessary patient visits.
Says Patel, “a lot of today’s visits could easily be served by a chat service or an offline communication service.”
Ultimately, Patel says, the idea is to eliminate the need to go to a medical office. But it’s also to “keep people on better footing” when it comes to managing the disease.
Considering that Alzheimer’s currently afflicts 6 million Americans alone and that those numbers are growing fast as the overall population ages, the company could well be one to watch. Stay tuned.
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