Grandma Falls - Safelyou Video Capture

The Challenge of Meaningful Innovation in Tech

The work of a technology journalist can often feel disheartening. Numerous founders – individuals possessing skill, intelligence, strong networks, and experience – dedicate themselves to addressing issues that ultimately lack significant impact. They may succeed in securing funding and assembling talented teams. However, even with flawless execution and achieving their envisioned outcomes, their efforts can prove remarkably unproductive. I refrain from mentioning specific companies, but if this resonates with you and prompts self-doubt, this commentary is directed towards you.

SafelyYou: A Contrasting Example

SafelyYou stands in stark contrast to this trend, tackling a problem of immense and rapidly increasing scale. As George Netscher, founder and CEO of SafelyYou, explains, the issue initially arose from personal concern for his family.

“When I began this company, I didn’t fully grasp the magnitude of the problem,” Netscher stated. He elaborated that every woman in his family, older than his mother, has been diagnosed with Alzheimer’s disease. His motivation stemmed from a fear that his mother would eventually succumb to the illness as well. “It currently affects one in three individuals over the age of 85, and one in nine over 65. A substantial 20% of Medicare expenditures are allocated to this area, and the situation is projected to worsen. By 2030, global dementia costs are anticipated to double, while the pool of potential caregivers will be halved.”

Addressing a National Healthcare Crisis

SafelyYou identifies a nationwide healthcare crisis that cannot be resolved through manpower alone – a pattern observed across the healthcare sector. Rather than attempting to increase the number of nursing staff, SafelyYou offers a software-based solution: fall detection for patients residing in care facilities and nursing homes. The company recently completed a $40 million Series B funding round, spearheaded by Omega Healthcare, who also prepaid $10 million for the implementation of SafelyYou’s system in approximately 1,000 healthcare institutions.

SCAN Group, an organization committed to maintaining the health and independence of seniors, also participated in the financing. SCAN is investing in SafelyYou’s expansion to broaden the accessibility of its fall management technology to a larger population of older adults. SCAN Group serves as the parent organization for SCAN Health Plan, a prominent non-profit Medicare Advantage plan. Existing investors, including Eclipse Ventures, Foundation Capital, Founders Fund, and DCVC, joined these new strategic investors, bringing SafelyYou’s total venture funding to around $70 million.

Investor Perspective

“We were immediately drawn to SafelyYou’s mission, recognizing them as both an innovator and a leader in the industry, while also aligning with our commitment to enhancing senior care facilities for both staff and residents,” commented Vikas Gupta, Senior Vice President, Acquisitions and Developments at Omega Healthcare Investors. “SafelyYou embodies our dedication to improving the lives of seniors, particularly those most vulnerable, including residents with cognitive impairments like Alzheimer’s and dementia.”

How the Technology Works

The company’s technological approach is both straightforward and effective. Cameras are installed in rooms where residents are at risk of falling. The video feeds are directed to a computer appliance within the care facility and continuously analyzed by an artificial intelligence system. Crucially, the cameras do not record continuously, safeguarding resident dignity and privacy while still providing necessary medical assistance.

When a fall is detected, the video is recorded, and the care team is alerted. Reviewing the recorded fall allows the team to determine the severity of the incident – whether the resident sustained a head injury or experienced a less serious fall. This information informs the decision of whether to send the resident to the hospital, potentially avoiding unnecessary emergency room visits.

George Netscher, CEO and co-founder of SafelyYou. Image Credits: SafelyYou

A Personal Connection

I rarely share personal anecdotes, but I feel compelled to do so in this instance. Due to occasional lapses in eating, I sometimes experience fainting spells. A couple of months ago, this happened while I was recording a video presentation. Upon regaining consciousness, I realized I had fallen. As a tall and uncoordinated individual, a fall from a height of 6.5 feet poses a significant risk of head injury.

Fortunately, the incident was captured on video. Reviewing the footage, I determined that I had simply collapsed without striking my head. Relieved, I was able to continue my day without a hospital visit, saving valuable time and money. Such situations are deeply unsettling, yet most people are unwilling to accept constant surveillance to prevent occasional hospital trips. SafelyYou’s solution offers a privacy-respecting alternative.

A Long-Term Commitment

“I am not a serial entrepreneur. This is a company I intend to lead indefinitely. My motivation stems from a deep sense of purpose, and this sentiment is shared by my entire executive team,” Netscher asserts. “We all have a personal connection to Alzheimer’s disease – a very close connection, such as a parent or child suffering from the condition. While our perspectives differ, we are united by a common mission.”

Data and Future Development

This mission is currently yielding significant results. The company has deployed thousands of cameras and recorded over 30,000 fall events. This extensive data collection is enabling SafelyYou to build a unique computer vision dataset focused on falls.

A substantial portion of the newly raised funds will be allocated to this area. “We possess more in-care home video fall data than anyone else. This data is crucial for the AI’s high accuracy. It powers our product in two ways: it’s not merely a technology, but a technology-enabled care program with a strong emphasis on the human element. We detect falls with exceptional accuracy – higher than anyone else. Currently, we generate one false alert per camera every two years, a statistic we are proud of,” explains Netscher. “We have a deeper understanding of falls than anyone else, having observed more falls than any other organization. We have an obligation to share this expertise, and we regularly publish our findings, exploring ways to leverage our dataset to introduce additional features.”

“I am still amazed that I convinced these VCs that this is financially viable, when our primary concern is simply helping people and our own families,” Netscher concludes.