Last year, InnovAge launched an effort to educate policy makers and others about the Elderly All-inclusive Care Program and the important role it plays in supporting frail seniors. One of our partners is the Alliance for Health Policy and I'm pleased to share our relationship with this nonpartisan group continues in 2019.
One of the Alliance's events this year was a discussion on innovation and value in healthcare - what it means and how industry and policy makers can better deliver on both.
In the room were leaders representing various healthcare providers, payers, and advocates. As you might expect, some were strong proponents for technology as the ultimate realization of innovation. There is clearly a role for new technology, from the use of artificial intelligence to so-called smart homes, but there's a different perspective that's worth considering. Innovation isn't realized solely by doing something different or something new. Sometimes, innovation comes from taking what we know and doing it even better.
From my perspective, I think of how we care for the frailest seniors in this country. As a country and a society, I know we can do better. We have a model for this: the Program of All-inclusive Care for the Elderly, or PACE. It's been around for more than 40 years, with the goal of helping frail seniors stay independent and at home, rather than being institutionalized.
While PACE has grown to serve almost 50,000 seniors, there are two million PACE eligible seniors more who could qualify and benefit from the program. As our population continues to age, there is a tremendous opportunity - and a need - to reach these seniors. InnovAge's model allows us to operate PACE centersacross geographies, scaling the program to serve hundreds of seniors in each of our centers - all while maintaining the highest quality of care for those we serve.
Let's talk about the other side of the equation: value in healthcare. With PACE, the value we deliver to our participants and their family caregivers is entrenched in the services we provide . Through individualized care plans that are uniquely tailored to each senior, with a true interdisciplinary approach, PACE helps seniors age at home while surrounded by the essential services necessary to keep them living safely in their communities.
Innovation and value are two concepts at the heart of PACE, and they are central to InnovAge’s mission to helping older adults live life on their terms. We’re glad to be representing PACE through our partnership with the Alliance and look forward to additional opportunities to educate policy makers and spread awareness of PACE. Next month, InnovAge will be at AHP’s summit on innovation and value. The event is open to the public and you can learn more on their website at https://series.allhealthpolicy.org/.