In a virtual fireside chat with Morgan Stanley's Cheri Mowrey, Honor CEO—Seth Sternberg—provided insight into how Honor prioritizes technology innovation to fundamentally improve how we care for the rapidly growing population of older adults worldwide.
In August 2021, Honor acquired Home Instead, which will transform the care experience for professional caregivers and older adults around the world. Honor’s technology and operations platform paired with Home Instead’s leading global network will serve as a foundation for a dramatic increase in innovation to drive operational efficiency and personalization at scale.
“The worldwide non-medical home care market is worth roughly $83 billion and Honor, alongside Home Instead, is the world’s largest care network uniquely positioned to increase the world’s capacity to care,” said Sternberg.
Sternberg notes that Honor and Home Instead deliver an average of 20 hours of care or more per week per home, which creates an incredible opportunity for expanded aging services in the home.
“In addition to supporting activities of daily living, we will holistically meet the greater needs of older adults. That may include keeping the refrigerator stocked, changing light bulbs and other needs of the older adult population” said Sternberg. “The long-term vision is to build a tech platform that is set up to partner with major retailers to provide seniors with streamlined access to the modern ecosystem of goods and services.”
Sternberg also pointed out this technology platform will be able to tailor offerings from healthcare companies to clients based on their needs and preferences to optimize care and coverage.
“Our goal is to help more people live safely and comfortably in their homes through reliable, transparent, high-quality care,” said Sternberg. “Today, we are the world’s largest senior care network with the most advanced technology platform, and we are the only global company positioned to fundamentally improve how society cares for the rapidly growing population of older adults.”
Want to learn more? Take a moment to read the press release.