MemoryWell

Solution Summary

Everyone has a story to tell, but not everyone can tell it. MemoryWell is a subscription-based service that gives a voice back to those living with cognitive impairment by telling their life stories. MemoryWell’s network of over 400 journalists interviews patients and family members to create intimate patient profiles, replacing burdensome intake questionnaires with brief, poignant stories.

MemoryWell’s digital platform hosts these life stories, where families can add details such as favorite music, hobbies, and personal anecdotes. Stories help caregivers better understand and empathize with residents, resulting in improved care quality. MemoryWell also builds empathy between family members, reducing depression and increasing quality of life.

Market Opportunity

• 5.5 million Americans live with Alzheimer’s and 8.4 million people receive some form of professional long-term care.
• Assisted living facilities, continuing care retirement communities, and home health care agencies seeks ways to differentiate themselves in a tight market and reduce staff turnover.

Highlights

• Successful $57,000 Kickstarter campaign
• Active users at six assisted living facilities
• Piloted three national chains of care communities
• Launched MemoryWell+, a premium subscription service for enhanced storytelling

Organization Goals

• Close $1 million in angel investment by Q2 2018
• Expand to six full-time employees by Q2 2018
• Refine pricing structure and billing strategy by end of 2018
• Scale nationally in memory care and assisted living communities by 2019

Existing Partnerships

MemoryWell currently partners with:

• Lutheran Life Communities
• Brookdale Senior Living
• Forest Hills of DC
• The Crossing at Chantilly
• Knollwood & Falcon’s Landing
• Good Samaritan Society

Partnership Goals

MemoryWell seeks partners to support:

• Distribution in hospitals, rehab centers, hospices, assisted living, home health care agencies, and retirement communities
• Research to evaluate the impact of services of disease progression and prescription trends