INDIANAPOLIS (Inside INdiana Business) — Indianapolis-based Regenstrief Institute is partnering with medical startup Care Revolution to find ways to improve nursing home care and reduce trips to the hospital for nursing home patients.
The new venture expands on a previous project funded by the Centers for Medicare and Medicaid Services Center for Innovation, which is looking for ways to reduce Medicare costs.
Care Revolution was started by Dr. Kathleen Unroe, a professor at the IU School of Medicine, who wants to change how nursing homes care for long-stay residents and reduce the number of unnecessary transfers from nursing homes to hospitals.
“We’re excited to partner with Regenstrief in this effort to improve the quality of care for a very vulnerable population,” said Unroe. “Regenstrief’s investment in Care Revolution will empower our company to expand our reach and improve the care provided to older adults in areas far beyond central Indiana.”
Unroe says the ultimate goal is to allow nursing home residents to receive treatment in a familiar setting, from a specially trained nurse, instead of transferring to a hospital. Those transfers are often cited as having a negative impact on older patients.
Care Revolution is also attempting to lower Medicare costs through its model-of-care program called OPTIMISTIC. In a trial at 19 Indiana nursing homes, the original study lowered Medicare expenditures by nearly $1,600 per nursing home resident per year.
That meant a savings to the Medicare program of more than $13 million, according to Unroe.
In return for its support, Regenstrief is receiving a stake in the company.
“As it grows and spreads across the U.S., we expect Care Revolution to create great value by improving the quality of care for people in nursing homes while saving the healthcare system hundreds of millions of dollars in the process,” said Peter Embí, M.D., Regenstrief president and chief executive officer.
Dr. Unroe says Regenstrief’s investment will empower our company to expand its reach and improve the care provided to older adults in areas beyond central Indiana.