New Delhi (India), April 26: HealthTech Startup, Mindtrot Technologies, a developer of comprehensive technology platforms for home healthcare and elderly care, has launched a new solution aimed at improving services for providers in the Senior Living sector, with an emphasis on Assisted Care and Hospice services.
Assisted living is Designed for relatively healthy seniors who need a little assistance with day-to-day tasks while Hospice care is Designed for terminally ill individuals to provide pain relief and compassionate end-of-life care.
Mr. Indranil Nath, CEO and Co-Founder of Mindtrot Technologies, discussed the current market dynamics: "India's assisted living market is undergoing significant changes due to evolving family structures and the increase in the elderly population. There's noticeable lack of technology to support the growth of service providers in this sector."
The company's "CarePilot" platform, initially developed for home healthcare, has now expanded to include features such as patient and room management, inventory control, and caregiving. It also offers financial modules for billing and reconciliations, complemented by analytical support to help service providers manage operations more effectively. The platform empowers participation from patients' families, enabling them to be more involved in care decisions and management in a connected ecosystem backed by Technology.
Mr. Pankaj Mehrotra who is an expert consultant in the Senior Living and Elderly Care space commented, "Tailored services catering to the specific needs of the individual will be the differentiator and Technology is going to play a crucial role in service delivery for the elderly"
The senior living sector includes various types of facilities designed to promote elder independence and social engagement, ranging from independent living communities to continuing care retirement communities.
According to a CBRE report, the expected demand for senior living facilities in India could reach 1 million units by 2024-25, with potential growth to 2.5 million within the next decade. Presently, with only 18,000 units, India's market penetration is at just 1%, which is significantly lower than that seen in countries like the United Kingdom, Australia, and the USA.
Mindtrot Technologies' expansion into this sector represents a strategic move, aiming to better address the specific needs of India's aging population and the Service providers through its HealthTech solutions.
For more Information visit: https://www.mindtrot.com
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