How is your business helping to solve the health, social, or economic challenges created by COVID19?
We seek to help all 47 million seniors in the U.S. The CDC is encouraging everyone in this age demographic, regardless of health, economic status, ethnicity or geography to stay at home as much as possible. The potential for nationwide social isolation and loneliness in this large demographic is astronomical and requires urgent, immediate help. Prior to the coronavirus outbreak, it was estimated that 40% seniors experienced regular social isolation and loneliness, contributing to preventable health issues that cost Medicare $6.7 billion annually and reduces the quality of life of seniors everywhere. Our mission is to put an end to loneliness and social isolation - improving health and extended seniors’ prime of life.Element3 Health's free access to virtual social and activity clubs will drastically reduce the rates of social isolation and loneliness among seniors that were on the rise before the COVID-19 pandemic.Our program will provide free access to virtual clubs centered around shared passions such as knitting, Tai Chi, painting, etc. It is an extension of the in-person solutions that have allowed seniors to create meaningful connections and increase physical activity prior to the outbreak. We are partnering with health plans and investors, but we are also seeking funding from other sources committed to improving the lives of seniors and curbing and preventing mental and physical health care crises.
Does your business contribute most to recovery, response, or resilience?
Response - we're responding directly to issues caused or exacerbated by the COVID-19 outbreak.
What is the stage of your product development?
I have a market-ready product/service. I could sell it to customers
What strengths does your team bring? Include skills and personal experience with the problem.
Our team includes seasoned health industry professionals and entrepreneurs. David Norris, chairman and CEO, has founded and built companies in a number of different industries and has raised over $300 million from venture capital, private equity, angel, and debt sources. Ulya Khan sits on the board of directors. She is presently the President at Wemanage LLC, investing in start-ups, advising corporations and developing disruptive aging solutions. She has held many senior leadership roles, most recently as Chief Operating & Product Officer at Tivity Health. Shelby Bryan, who sits on the board of directors, co-founded Vodafone (VODPF). Beth Bierbower sits on the Element3 Health advisory board. She formerly served on the Executive Management Team of Humana and led the Employer Group, Specialty and Military lines of business. Also on the advisory board, Dr. Charlotte Yeh is the Chief Medical Officer at AARP Services, Inc., working with independent carriers that make health-related products and services available to AARP members. Heading our advisory board is Dr. Jon Warner, CEO of Silver Moonshots, a research organization and virtual accelerator for startups focused on the 50+ population. Dr. Jim Bonnette, a member of our advisory board, has served as CMO at Oliver Wyman, where he was head of the Global Provider Strategic Consulting Practice. Rounding out our advisory board is Michael Skaff, a senior executive in the healthcare industry.
What countries do you operate in?
United States of America
Is your company headquartered in a US "Opportunity Zone"?
No
