A Place for Mom, founded in 2000, is a privately held, for-profit senior care referral service based in Seattle, Washington. A majority of the company is owned, since August 2017, by equity capital firms General Atlantic and Silver Lake. Its spokesperson is former Good Morning America host, Joan Lunden.
The Company provides information regarding more than 17,000 senior housing and elder care providers to seniors and their families throughout the United States and Canada through a network of over 500 local Senior Living Advisors. It also serves as a marketing tool for the thousands of senior housing communities and care providers to which it refers. It is the largest such service in North America. The company also develops and markets customer relationship management (CRM) software for the senior housing industry. In Addition, A Place for Mom owns and operates SeniorAdvisor.com, a consumer ratings and reviews site for senior care providers across the U.S. and Canada.
Maps, Directions, and Place Reviews
History
A Place for Mom was founded in July 2000 by Pamala Temple, John Temple, and Brian Trisler. Its founding principle is to provide personal and professional assistance to families in the search of senior care options. In 2006, A Place for Mom received $9.5 million in venture capital from Battery Ventures. In July 2010 a private equity firm, Warburg Pincus, purchased a majority stake of the company.
In November 2016, A Place for Mom purchased OurParents, another senior living referral service. The acquisition added approximately 2,500 senior living communities to A Place for Mom's partner network.
On August 11, 2017, Warburg Pincus sold its majority stake in the company to growth equity firm General Atlantic and technology investment firm Silver Lake. The two firms acquired equal stakes and added two members each to the company's board of directors. Silver Lake added Managing Partner and Managing Director Greg Mondre and Director Adam Karol. General Atlantic added Robbert Vorhoff, Managing Director and Global Head of Healthcare, and Anton Levy, Managing Director and Global Head of Internet and Technology. Financial services firm William Blair & Company and law firm Willkie Farr & Gallagher advised A Place for Mom in the transaction.
Silver Lake Assisted Living Video
Business model
A Place for Mom is the largest senior living referral service in both the US and Canada. The Company refers private pay families to assisted living communities, independent senior apartments, residential care homes, memory care communities, and home care. The service is free to families, as senior living communities within A Place for Mom's partner network pay a fee to A Place for Mom if a family moves in to one of their partner communities. Inquiring consumers are matched with a local Senior Living Advisor, who completes an assessment of needs on the telephone or online. Based on the assessment, the Advisor provides general guidance as well as a list of senior living communities or care providers in accordance with the family's stated needs and preferences. A Place for Mom Advisors offer on-going support and guidance to families following their initial inquiry.
The Company generates revenue when a senior who was referred by an Advisor moves to a provider within A Place for Mom's partner network. A Place for Mom works with over 17,000 partner communities as part of its partner network. APFM also performs quality assurance on its partner communities in the following ways:
- Monitors state and provincial resources to check that communities partnered with A Place for Mom are not only licensed, but remain in good standing with the appropriate state regulatory agencies.
- Reviews licenses and violations of partner communities twice a year.
- Directs families to available state and provincial websites that provide information regarding community licensure, inspection summaries, and violations.
- Designates employees as mandatory reporters for claims of senior abuse or neglect.
In addition to A Place for Mom's local Advisor service the company also provide information to families about senior living and care options:
- Website - Features a senior resource section and a blog. Some of the tools available for families on A Place for Mom's site include:
- State Guide to Assisted Living Records & Reports - a directory of assisted living licensing websites is organized by state and provides regulation standards and links to individual assisted living facility inspection summaries and violation histories.
- Caregiver Toolkit - a resource containing 75 pages of educational guides, checklists, tools, and worksheets for families as they plan for senior care.
- Financial Guides - information for families to plan for and find financial sources for senior care using public pay, such as the Medicare Resource Guide and Public Pay Resource Guide. A PLace for Mom offers other tools available for comparing and gauging the cost of senior housing and care, such as the Senior Care Calculator.
- Senior Living Cost Index - a tool for planning for the costs of senior living, with monthly cost estimates in U.S. cities. The Cost Index draws on a large database of families that have moved into senior living and assisted living homes between 2012 and 2016. It is the only free data source of its kind.
Source of the article : Wikipedia
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