I tend to agree with YG. Aged Care is vastly underfunded and has been struggling financially for a few years. Everyone had an extremely tough FY20 industry wide. But l think we're on the cusp of changing the mindsets and expressing the importance of integrating such technologies to improve the outcomes for the elderly and improving care efficiencies. Such providers will enable better monitoring by the facilitators and also allow engagement of the welfare with family members. I believe the benefits will be more obvious when the ease of implementation is improved and when there is real proven track record of the ML model. As providers refurbish existing buildings or build from scratch this sensor technology will just become part of the project capital costs and hopefully Intellicare will be the go to guys, particularly in Aus.
Home care is a whole different ball game but packages like NDIS do give the authority back to the client to spend the money where they deem most suitable. In this instance it's more about selling the concept to the family members to enable them a monitoring platform for themselves and also the care provider. A bit of a double selling requirement where you have to get the provider and client's family onboard.
It makes me feel good to invest in a company that improves outcomes for our most vulnerable. What better way to make money by proving a much needed service.
ICR Price at posting:
37.5¢ Sentiment: Hold Disclosure: Held
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