FlorenceCare

Looking at UN demographic charts, silver age is already between 25% to 35% of actual European population, and this is going to be tough in the next 15 years. All these people are suffering with different comorbidity that are pushing them to find some private healthcare solutions in the market, they pay many time cash on hands without any assurance about the quality of the services purchased, or information about professionals' competences, moreover there is a strong fragmentation of professionals by specialty and no tracking of results.
On the other hand, health care professionals such as nurses, midwives, radiology technicians, physical therapists, etc. etc., struggle to find jobs that economically recognize their qualities, in both the public and private health care systems, affecting negatively also working-life balance.

FlorenceCare is a SaaS platform (1 Apps+web) connecting healthcare professionals (nurses, technicians, nutritionists...) with chronic conditions or their family caregivers while managing the home services health data. FlorenceCare bridge the connections between this categories offereing:

- Homecare services from different professional categories (80% of health services can be done at home from blood tests to intensive care)

- Official service procedures, approved by the health professional's college of reference

- Service's home healthcare data management (reports with photos or videos)

- Other devices health data integration through API or SDK

- Collect information from paper medical records through AI (storing PDFs and turning data into dashboards)

- Easy to share the health data with whoever clients want (Doctors, caregivers...)

In this way patients receive personalized and preventive care in the comfort of their homes and healthcare professionals have the opportunity to highly impact their work conditions and work-life balance.

FlorenceCare is the All-in-one solution accessibile, cost-effectiveness, coordinated, personalized, and patient engagement for home-based care.

We tied our target strategy with our roadmap.

The PILOT phase will be conducted between Bari (Apulia) and Rome (Lazio) tackling chronic patients and pre and post hospitalized. Is in this space that we received the greatest expression of interest with numerous Memorandum of Understanding from Chiefs of different specialities from hospitals of these cities and associations of chronic patients. They see FlorenceCare as complement of hospital activities to help patients to arrive prepared to the hospital or to be follow up once release, in order to avoid sliding doors effect (releases -> home -> emergency -> hospitalization).

The Phase I will be the TOP 10 cities in Italy and Barcelona (Spain), we will implement on top of the organic growth made by the personal connections also scalabilities techniques using social media, this is going to see an increasing target made also by sportsman, pregnant women (we created a pack of mixing services from the 3rd months to the 12th), busy people who want to control their health in comfort.
Phase II is target to scale up in whole Europe.

The team has extensive industry experience and diverse expertise.
The CEO, an Italian Red Cross Volunteer, specialized in emergency response and sanitary transportation, holding a BLSD operator certification is also an executive ESADE MBA student. He is also a caregiver (of his mother and grandmother) and living the problem first hand got the idea to create FlorenceCare
The CSO, is an Intensive Care nurse, has broad experience from emergency care to home health services. Depth knowledge of patient care and health management is invaluable.
The CTO, is an IT Engigneer, AWS Solution Architect and Cybersecurity specialist. He is also married to a Swedish nurse, understands the challenges faced by patients and professionals in Sweden.

We are lunching the PILOT in Rome (Lazio) and Bari (Apulia) in 45 days.

We opened so far 10 vertical channels between chiefs of hospitals and associations of chronic patients.

We have +70 health professionals (mainly nurses) ready to strat in the two cities.

The PILOT will take 6 month and will be fundamental to validate cybersecurity and UX/UI.

In the meantime we are closing the fundraising to have the money to complete the two Apps coding and scale in Phase I.

Although the founders of FlorenceCare perfectly cover the main application areas of the project, namely healthcare with a nurse, managerial with a senior FP&A manager and MBA, and technological with an IT engineer who is also an AWS solution architect and cybersecurity specialist, fundraising, the explanation of a business model aiming to address the magnitude of the silver economy phenomenon with high long-term margins transitioning from simple marketplace margins in the short term, and the assurance of full compliance with GDPR and major cybersecurity principles have represented the main obstacles.

Cosa rende la vostra soluzione innovativa?

FlorenceCare is a mix of product and process innovation, but its disruptive element is in the business model that redistributes value across all players in the healthcare value chain through its challenging AI and cloud tech.

Personalized Healthcare at home for chronic condition patients with AI & Cloud.

A software that links chronic condition patients or their family caregivers with an extensive network of healthcare professionals (nurses, physiotherapists, diagnostic technicians...), monitors vital health data, and enables seamless communication with the patient's doctor, ensuring efficient care coordination.

FlorenceCare have been multiple awarded according to UN's SDG #3 and #8 but we have a developing roadmap that in 3 years is going to tackle 15 differents SDG turning the company in a profitable benefit company.

Theory of Change for FlorenceCare

1. Vision and Mission:

   Vision: FlorenceCare aims to revolutionize healthcare by directly connecting patients with healthcare professionals, enhancing service quality, and standardization across Italy.

    Mission: To create a positive impact on society and the environment while ensuring financial success through responsible and secure use of healthcare data.

2. Strategic Pillars:

   ESG Strategy: Focuses on five pillars aligned with the UN Sustainable Development Goals (SDGs) to drive positive social and environmental impacts.

3. Materiality Matrix:

Identifies key ESG challenges and priorities based on stakeholder expectations, internal analysis, and non-financial risk assessment.

4. Value Proposition:
Empowers socioeconomic development by benefiting patients and healthcare professionals through job creation, income generation, and improved access to education and healthcare.

5. Key Performance Indicators (KPIs):
Patient Satisfaction Rate: Measures patient satisfaction with services.
Revenue per Healthcare Professional: Tracks earnings compared to market standards.
Health Professional Retention Rate: Indicates job satisfaction levels.
Work-Life Balance: Monitors geographical work balance.
Participation in Professional Development Programs: Promotes growth and development.

6. Impact on SDGs:
Contributes to SDGs #3, #4, #5, #8, #9, #10, #11, and #12 through innovative healthcare data management, gender equality promotion, reduced inequalities, sustainable practices, and responsible consumption.

7. Theory of Change Summary:
FlorenceCare's theory of change revolves around leveraging technology and data to enhance healthcare services, promote social responsibility, ensure financial viability, and align with global sustainability goals. By prioritizing stakeholder engagement, transparency, accountability, and continuous improvement, FlorenceCare aims to lead by example in creating a more sustainable and equitable future.

We tied, also pushed by our Social Impact Qualified Investors, the development of the KPI with the company roadmap:

PILOT (6 months): 1.1 Patient Satisfaction Rate -Measures patients' level of satisfaction with health care services offered by FlorenceCare through post-treatment surveys. FlorenceCare is going to collect 2 levels of feedback: About service and About Professional. We need to understand the granulocyte of these feedbacks to avoid (AirB&B effect). The PILOT target will be at least ⅗ with a 0,25 points increase every 6 months up to 4.50, being conscious that the service is provided by a third-party freelance and FlorenceCare cannot be directly responsible for that but will implement all the strategies to improve the quality of the services.

2.2 Health professional retention rate - Indicates the percentage of health professionals who choose to stay with FlorenceCare for a certain period, representing an indicator of the quality of work offered. [this ratio will be ponderated on three specific factors. The density of patients in the area, the ratio in pay-per-use, ratio in subscription, a ratio calculated on switching from pay-per-use to subscription and vice versa]

Phase I (18 months): PATIENT: - 1.2 Thoughtful ability to provide service, 1.3 Post-treatment objections reduction rate, 1.4 Treatment adherence rate, 1.5 Competitive price and standard quality of service

PRO - 2.1 Increase in revenue per healthcare professional, 2.3 Work-life Balance, 2.4 Health Professional, 2.5 Participation rate in professional development programsSatisfaction Index

Phase II (12 months): In this Phase with a Product Market Fit, clear indication about mix of products and revenue stream we will targeting also the other SDG to define on then how to track: 

For SDG #4 - Quality Education:
The platform can enable sharing of educational resources and data for healthcare professionals, potentially leading to improved training and knowledge sharing within the medical field.

For SDG #5 Gender Equality:
By providing tools for analyzing healthcare data, FlorenceCare can potentially help identify and address gender-specific health disparities, promoting fairer access to healthcare for all.

For SDG #9 Industry, Innovation and Infrastructure:
The platform itself represents innovation in healthcare data management, contributing to the development of digital infrastructure essential for modern healthcare systems.

SDG #10: Reduced Inequalities:
Similar to SDG 5, FlorenceCare's data analysis capabilities can potentially help identify and address geographical or socioeconomic inequalities in access to healthcare.

SDG #11: Sustainable Cities and Communities:
The platform might indirectly contribute to this goal by enabling more efficient and data-driven healthcare delivery, potentially leading to reduced resource consumption in urban areas.

SDG #12: Responsible Consumption and Production:
As mentioned in SDG 7, FlorenceCare's focus on efficient data management can potentially contribute to reduced environmental impact through lower energy consumption.

Our tech stack comprises Ionic for frontend development, AWS for hosting and infrastructure, AWS DynamoDB for database management, GitLab for version control, and proprietary data sets. Quality control process with SonarQube complements our tech stack, enhancing code quality, security, and maintainability across the frontend and backend

Full time: 2 - CEO, Rocco Ciracì & CSO, Alejandra Mancilla

               1 - Community Leader - {under negotiation}
               1 - Junior Frontend Developer - {searching}
Part time: 1 - CTO, Davide Bracaglia
                1 - MKT Manager, Yullia Demchik - {temporal}

                1 - Sales Manager, Katya Korbutova - {temporal}

                1 - HR Manager, Federica Cei - {temporal}

                1 - Communication & PR Manager, Maxim Polozkov - {temporal}

                1 - CyberSecurity Manager, Andrea Lompart - {temporal}

                1 - Senior Frontend Developer - {searching}

                2 - Tester - {searching}

FlorenceCare was born with a real need, when Rocco, found himself having to care for his mother first and his grandmother later in two different cities, far away, during the first lockdown (Apr 2020).

After overcoming this chaotic phase, (Sep 2020) with a great investment of time, energy and money met Alejandra (CSO), with her background in the healthcare world, she provided that professional solution that had been missing.

Thanks to Davide (CTO) CloudTech expert, and backend developer that join the team in the (Q3 2021) we were able to design the FlorenceCare system and close the loop.

At FlorenceCare, diversity, equity, and inclusion are not just buzzwords; they're integral to our core values and mission. Our leadership team comprises two men and a woman, reflecting a blend of cultural backgrounds and experiences. While both men hail from Italy, they've spent significant time living abroad, and our female colleague brings her Colombian heritage and Spanish upbringing to the table. This diversity in our leadership is not just a matter of representation but also ensures varied perspectives and approaches in decision-making.

Recognizing the importance of equity, we've implemented policies that prioritize merit, motivation, effort, and knowledge in our hiring processes. We aim to provide equal access to opportunities for all candidates, irrespective of their backgrounds. Moreover, as a social impact startup focused on healthcare accessibility, we're committed to addressing disparities in healthcare provision. This includes tackling gender health inequalities and socioeconomic-geographical health disparities through our initiatives.

In fostering an inclusive environment, we prioritize respect, support, and value for every team member. We actively encourage open dialogue and feedback to ensure that everyone's voice is heard and considered. Additionally, we provide resources and support for professional development, recognizing the unique needs and aspirations of each individual.

Our commitment to diversity, equity, and inclusion extends beyond our internal operations; it's ingrained in every aspect of our work. By championing these values, we not only create a welcoming environment for our team but also drive positive change in the communities we serve.

FlorenceCare, with its innovative technologies, has developed a disruptive business model catering to B2C, B2B2C, and B2B segments. The activation phase of our offerings is progressive, aligning with our company's roadmap for expansion.

Leveraging the power of IoMT (Internet of Medical Things) and AI, we have implemented a Software as a Service (SaaS) model. This model offers flexibility to both patients (or their caregivers) and professionals, allowing them to choose between Pay-per-Use or Subscription options based on their needs. For Pay-per-Use, users are charged approximately 10% of the service cost for patients and 15% for professionals. Importantly, FlorenceCare ensures fairness by aligning its prices with the national price list set by the Ministry of Health, ensuring that neither side of the market is exploited. All payments made by patients go directly to the professionals providing the service, who in turn cover the platform usage fees at the end of the month.

With the Subscription method, users are freed from commissions and gain access to additional features such as insurance coverage for the service, simplified fiscal billing services, and professional development resources including educational videos and procedures. This not only enhances the user experience but also enriches the professionals' competencies, thereby expanding the range of services they can offer.

Data as a Service (DaaS) forms the foundation of our profit and loss statement, serving as the cornerstone of FlorenceCare's revenue strategy. By Phase II, which marks the third year of our operations, we anticipate reaching breakeven and experiencing year-over-year growth.

Through the monetization of anonymized health databases within the health data buyer market, we project achieving margins of approximately 80% in this sector. In Europe, the value of health data is estimated to range between EUR 200 and 400 per year per data buyer (for datasets exceeding 100MB), with the post-COVID landscape witnessing a remarkable growth rate of approximately +28% CAGR.

We are already working to ensure the highest level of cleaning as possible and the GDPR compliance.

Pack as a Service (PaaS) has the potential to be launched as early as Phase I. These pre-paid packs consist of a range of multidisciplinary services offered by various professionals. For instance, there could be packages tailored for pregnant women, including services such as three full sets of blood and urine tests, three ultrasounds, and three consultations with obstetricians.

We have already received expressions of interest from companies keen to offer PaaS as part of their employee welfare programs. Additionally, one of the largest pharmaceutical companies has approached us to explore the feasibility of conducting clinical trials utilizing our patient and professional base. Furthermore, insurers have also shown interest in potential collaborations.

To date, FlorenceCare has secured a EUR 5,000 grant along with EUR 10,000 worth of services from the Lazio Region.

Additionally, we have been honored with the 2030 Social Impact Prize, which includes EUR 30,000 in convertible notes and EUR 20,000 in services, provided by a Qualified Investor.

Currently, we are in the final stages of closing our first funding round, targeting EUR 400,000 (with EUR 200,000 already committed), valuing the company at EUR 3.1 million. Closing this round in one tranche will allow us to leverage public funds, potentially doubling the investment to EUR 350,000. This funding comprises 80% grant and 20% fixed interest at 6% (without requiring guarantees).

This capital infusion will adequately support our Pilot and Phase I endeavors spanning two years. As previously mentioned, our goal is to achieve breakeven within three years, serving fewer than 10,000 patients with a professional-to-patient ratio of 1:10. These figures could generate approximately 1.2 terabytes of health data annually, translating to approximately EUR 1 million per year per data buyer.