Recently, Olera’s CEO and co-founder, TJ Falohun, was featured in a QUESTPress publication - a collection from the acclaimed QUEST Honors Program at the University of Maryland. For those who don’t know, QUEST is an interdisciplinary program where students combine their knowledge in business, engineering, and science to tackle real-world problems, creating innovative business solutions. It turns out, our very own TJ Falohun is a distinguished alumnus of this program.

The article primarily focused on TJ Falohun as an innovator, entrepreneur, and proud QUEST alumnus. It delved into his journey, from his time in the coursework-filled lecture halls of UMD, to becoming the co-founder of not one, but two companies focused on human health - Olera and Ai-Ris.

In the course of the interview, Falohun shared an essential piece of advice that he believes in and has followed throughout his journey - find a domain where you naturally excel and feel passionate about. His rich experiences and undeniable passion for improving human health are evident in Olera and Ai-Ris. His companies are a testament to what can be achieved when personal strengths are synergized with the desire to make a difference.

It's heartening to see Olera and Ai-Ris get such attention and recognition. This feature acknowledged the incredible work that TJ and his teams are doing, their commitment to improving human health, and the positive impact they've made so far.

While this recognition is definitely appreciated, it isn’t the end goal. We hope this acknowledgement encourages us to go further, to innovate more, to refine our processes, and to always strive for improving human health.

To get more on Falohun's journey, insights, and his approach to innovation, check out the full article in the 

. Stay connected for more updates and achievements from Olera.

Join us in celebrating Olera CEO and co-founder, TJ Falohun's recent feature in the QUESTPress. Learn about his entrepreneurial journey and his insights on innovation.

CEO Spotlight: TJ Falohun of Olera Features in QUESTPress

Co-Founder Spotlight: Olera's TJ Falohun in QUESTPress

According to the U.S. Census Data, nearly half of Americans between ages 55 and 66 have no retirement savings.

Yet the average annual cost of home care is roughly $62,000 per year— and 7 out of 10 people will require long-term care like this in their lifetime.

Clearly, we have a big problem on our hands.

The Senior Care Crisis: A Growing Concern

We are proud to share that Olera has received a $3 million Phase 2B Small Business Innovation Research (SBIR) Grant to from the National Institutes on Aging (NIA) to tackle the challenge of senior care affordability head on. Specifically, 

Olera will be building AI Agents to help families find and apply for senior care benefits to improve senior care affordability.

Olera's Plan Moving Forward

“When we started our journey in 2020, we initially focused on helping families navigate the fragmented senior care space—helping themfind the right care for their specific needs. After assisting hundreds of families, we learned that finding care was just one issue.

Arguably the bigger issue was PAYING for care and other types of professional assistance.

It’s the elephant in the room, and most other players in the industry turn a blind eye to this” said CEO, and Former Pfizer biomedical engineer, TJ Falohun.

He went on to add: “Improving senior care affordability will undoubtably be a hard problem to address, It’s a topic that involves the rising costs of labor, inflation, understanding state specific benefits and eligibility criteria among various other factors. However, by being laser-focused on this problem, and thinking outside the box, I am confident we can find ways to help families better pay for care. It’s worth a shot!"

From Navigation to Affordability: Our Journey

Dr. Logan DuBose, co-founder of Olera, who teamed up with TJ while perusing his MD/MBA degree from Texas A&M University, offers additional insights:

"As a internal medicine physician, I've witnessed the lack of regard in the medical community for the affects of healthcare costs and financial issues on patients' health. The strain that unaffordable healthcare places on families and patients is not just a financial issue--its a health issue. When families fear seeking medical care due to the financial implications or families can't access or afford proper care, health outcomes suffer for individuals and society as a whole. Our mission at Olera isn't just about making care more affordable; its about improving the quality of life for all of us, especially those who often need care the most like our seniors and their families. By focusing on initiatives that lower the costs of care, we're not just saving money--we're saving lives."

A Medical Perspective on Care Affordability

But we aren’t just here to just here to share our success, but to spark a movement that addresses the critical challenges in aging care.

We are allocating a portion of these funds towards creating a community of individuals passionate about contributing to this cause.

We want to build this together. If you are any of the following, please we would love to hear from you:

Social media experts, marketing experts, and video producers

Community champions to organize events involving older adults

Senior care experts to tackle industry challenges

We literally can’t do this alone. If you are interested. Please complete the form below :)

Join the Movement: Be Part of the Solution

Olera Receives $3M Grant to Transform Senior Care Affordability

Millions of Americans, particularly those who have a health crisis, NEED help but can’t pay for care out of pocket.

My team and I, supported by the National Institutes on Aging, receives hundreds of requests from older adults and their caregivers who are desperately looking for help but can’t afford it on a monthly basis.

These individuals are often on Medicare, which does not cover long-term care. What are the majority of Americans suppose to do to meet their basic needs?

Many are forced to utilize other ways to pay, but are not eligible for Medicaid or other benefits so they are left without services, eventually leading to hospitalization when basic needs are left unmet long enough.

The cost of healthcare and long-term care is simply too high for the average lower middle class/ lower class American.

To solve a problem, we first need to understand it. The issue of high costs in long-term care is partially rooted in high labor costs. And as we all know, wages are not keeping up with inflation, so it is unlikely that we will see any change in the cost of long-term care. In fact, we will likely see the opposite.

With rising cost of inflation, coupled with the aging population, our society as a whole is sliding into a precarious situation.

We are not immune. We are one unexpected medical diagnosis away from sharing a similar fate.

Those on the unfortunate end of the equation deserve the support from the rest of us fortunate enough to have our health intact.

And if we find ourselves looking at this issue from an outsiders perspective, it’s only by the luck of the draw. The “glad it’s not me” mindset is very shortsighted because we can find ourselves in the very same situation at any moment.

The strive to be profitable has made a lot of companies in the space neglect those who are in the greatest need of support.

A possible answer: ironically, more capitalism—well more innovation.
In efficient markets, products and services trend towards the price of production as rival entrepreneurs view incumbents’ margins as an opportunity to innovate.

The convergence of robotics and artificial intelligence will likely create affordable ways for older adults with health issues to stay independent at home for longer for a fraction of the cost.

The future is defined by optimists. We need brilliant problem solvers thinking critically about this issue.

This is an issue that needs world class product design, operational savviness, business acumen, significant funding and much more.

All friends, colleagues, an interested parties, if this problem is one that excites you, please email me at tj@olera.care

The challenges that older adults and their caregivers face. And possible solutions to the issue through innovation. A blog by TJ Falohun from Olera.

America’s Aging Care System is Broken - We’re in trouble, But There is Hope

Dr. Logan DuBose, MD and co-founder of Olera, has recently been making waves in the healthcare industry with his insightful discussions on the challenges and opportunities in the senior care landscape. In a series of podcast guest appearances in 2023, Dr. DuBose shared his expertise and experiences, shedding light on the complexities of long-term care infrastructure, hospital discharges, and the barriers to effective chronic management and proactive care strategies.

Introduction

 with Michele Magner, Dr. DuBose emphasized the significance of enhancing the long-term care infrastructure in the United States to break free from the relentless cycle of re-hospitalizations. He discussed Olera's mission to empower families by providing comprehensive information on available senior care industry providers, both public and private, including home care, assisted living, memory care, skilled nursing, and other services.

Enhancing Long-Term Care Infrastructure

 with Christoph and Ginger, Dr. DuBose shared personal experiences from his intern year as an internal medicine doctor, highlighting the challenges faced in hospital settings, particularly in discharging patients to the community. He discussed the complications stemming from the difficulty of securing adequate home caregiving arrangements, establishing connections with local home care services, and transitioning patients to long-term care facilities or assisted living homes. The discussion also addressed the consequences of rising unaffordable senior care costs in the US, with Olera's vision aligning with addressing these complexities.

Challenges Faced in Hospital Settings

 with Savy Makalena, Dr. DuBose delved into the significant hurdles encountered in facilitating lifestyle changes aimed at reducing the risks, severity, and recovery challenges associated with dementia, stroke, and long-term care. He highlighted the prevalent barriers, encompassing difficulties in accessing necessary resources due to a cumbersome eldercare ecosystem that requires a high level of technical and literacy skills to navigate. Olera's vision, as discussed, aligns with addressing these access barriers, striving to empower individuals and families by providing tailored information and support in more caregiver-centric ways, ultimately fostering more effective chronic management and proactive care strategies.

Facilitating Lifestyle Changes for Chronic Management

 with Amy A. Palmer, Dr. Logan DuBose, discusses the current state of the eldercare system and the challenges of providing good care for elderly loved ones. He shares guidance and resources for navigating this season, including finding good care, addressing financial challenges, and seeking support.

Challenges with the Eldercare System in America

 with Dr. Kiplee Bell, Dr. Logan shares his journey through medicine and clinical practice and his experience with caring for patients with dementia and Alzheimers disease.

Sharing his Journey

Through these podcast guest appearances, Dr. DuBose has shared his expertise and Olera's vision, contributing to a deeper understanding of the complexities and opportunities in senior care. This positions Dr. Logan DuBose as a thought leader in the intersection of healthcare, research, and medical technology. He is committed to revolutionizing senior care services with 

 and empowering individuals and families to navigate the challenges of long-term care more effectively.

Main image credit - Image by Studio_Iris from Pixabay.

Conclusion

Join Dr. Logan DuBose as he delves into the challenges and opportunities in the senior care landscape. Gain valuable insights into the complexities of long-term care, hospital discharges, and proactive care strategies.

Co-Founder Spotlight: Olera's TJ Falohun in QUESTPress

Read more

Olera Receives $3M Grant to Transform Senior Care Affordability

America’s Aging Care System is Broken - We’re in trouble, But There is Hope

Dr. Logan DuBose Podcast Appearances Roundup 2023