Transcript Generated by AI 00:00 Hey Mark Parkinson here, back with Park Place and super excited 00:04 today because we have an innovation that makes a difference. 00:08 The innovation section of Park Place. 00:10 It's really encapsulates what's this website is all about. 00:14 You get to come here for free and learn about products and services that will do 00:18 one of two things that'll either improve the quality of care in your buildings or 00:22 they'll save you money, or in some cases, they'll do both. 00:26 And very excited today because we have a service that we think we'll do both. 00:32 Ben Zimmer from Barris is here with us today. 00:34 We're super excited to have been because we know that his service does work. 00:38 And what the problem is that he's attacking is staffing and creating 00:43 scheduling. 00:44 And this product can reduce over time, it can reduce the use of agency, 00:48 and it can improve quality. 00:50 So we're very happy, Ben, to have you with us here today. 00:53 Welcome. 00:54 Thank you for having me and thank you for coming all the way across the country. 00:57 You came from Salt Lake City yesterday and here we are at our studios right 01:01 outside of Lakewood. 01:03 So thanks for making the track. 01:04 Thank you. 01:05 Ben. 01:06 I, I couldn't be more excited about what 01:07 you're doing. 01:08 I, I've been complaining for decades that we 01:10 haven't used technology enough in our buildings with, with, you know, 01:14 on a whole bunch of different levels. 01:17 And you have figured out a solution that helps with staffing and specifically that 01:21 helps with scheduling. 01:23 So before we get into how your products creates perfect schedules, 01:27 let's learn about your background. 01:29 Then tell us about what you've done before. 01:31 Veris. 01:32 Yeah. 01:32 So in my previous life, I had worked on a a venture in the 01:37 apartment management space. 01:39 We built a company called Entrada that we grew to about 1600 employees and 20 01:44 billion in payment processing. 01:47 We worked with three million apartment units all over the country and and help 01:51 them be a lot more efficient. 01:54 Yeah, the second time around we teamed up with 01:57 some really smart Co founders and and our Capital Partners and effects. 02:03 They were the first money in DoorDash, the first money in Lyft and then Spencer 02:07 Rascoff, founder of Zillow also put personal money 02:09 in. 02:10 All that is to say, we have some really smart people thinking 02:12 about the problem. 02:12 That's great. 02:13 So I know that you did amazing things with software development in that 02:17 entirely different space. 02:18 And then you've decided to come into long term care. 02:20 So what is it that attracted you to come into long term care? 02:23 Yeah, there was this big juicy problem that we 02:27 saw and that was that the workforce was it was the largest expense that operators 02:33 have across the US They're spending about $114 billion and billions of those 02:38 dollars are being spent on overstaffing, on agency overuse, on overtime, 02:43 on missed meals, on early and late time clock punch in. 02:48 There just was a lot of inefficiency. 02:51 So you've come up with your first product and I'm hoping they're going to be more 02:54 than one products, but your first product really attacks the 02:57 scheduling problem because believe it or not, 02:59 there are still some people that are out there like Stacey and I were doing 20 03:03 years ago and putting schedules together by hand and trying to figure out, OK, 03:07 when should we have this person work and not work? 03:10 There's other people that have software programs, 03:12 but they've complained to me about them. 03:14 What what is your solution? 03:15 What have you created? 03:16 Yeah, so we, we've created a solution to really take 03:19 that work off of the the scheduler, the director of nursing. 03:23 We know that they're very stressed out. 03:26 They're burning out their staff because of the fact that they have been kind of 03:30 underserved from a technology perspective. 03:32 We hear everyday about operators that are using paper and pencil as you reference 03:38 or spreadsheets or 20 year old software. 03:41 And there's a lot of problems that that result from that that we referenced 03:45 earlier with overtime and agency over use and so on. 03:50 We're really focused on on taking that kind of chaos and, 03:53 and attacking the the root of the problem. 03:55 And so you've come up with a software program that uses artificial intelligence. 03:59 You input a bunch of information into your algorithm and it spits out what 04:03 hopefully is the perfect schedule for the building. 04:06 Tell us about how you do that and how how it all works. 04:09 Yeah. 04:09 So it's an AI first platform for workforce management. 04:13 That means that we started with the AI, We're not taking a repurposed tool. 04:18 And we're also we're built specifically for skilled nursing and assisted living. 04:25 What we do is we connect to the operators EHR and their Hres and we pull a lot of 04:31 key pieces of data. 04:33 So that includes not only the employee information that includes compensation 04:38 information, that includes census, that includes acuity and other staffing 04:44 information and as well as the resident preferences will go out and excuse me, 04:50 the, the team member preferences, we want to make sure we know when they 04:55 want to work, when they don't want to work. 04:59 And it's going to take all those variables and the AI will, 05:03 will forecast gaps in the schedule. 05:06 It will help with the automation of call offs and outreach to the PRN pool. 05:12 And it will build out optimal schedules for both on a, 05:15 on a daily basis as well as a monthly basis. 05:18 So you put all of that information into an algorithm you you've created and 05:22 technology prints out this or puts out this schedule that really works great for 05:27 the building. 05:28 Yeah. 05:28 AI has a lot of strengths. 05:29 And one of those strengths is playing that game at Tetris with all of that 05:32 information. 05:34 Great. 05:34 So what kind of results have you seen with your product? 05:37 Yeah, I think you're already in several 100 05:38 buildings And. 05:39 And what what has, you know, what have they seen? 05:41 Yeah, absolutely. 05:43 I think people have really come to see this as kind of Mission Control for their 05:46 workforce. 05:47 So not only is it creating an optimal schedule to optimize for financial 05:52 performance, but also quality of care relative to 05:55 unique staff per area, consistent assignment, 05:58 and other acuity based staffing variables. 06:03 We recently did a study across 45 communities in a single portfolio. 06:09 We looked at those communities that were using veris and those communities that 06:13 were not using veris, and what we found is that communities not 06:17 using veris were spending twice as much on overtime. 06:20 We even had one community that stopped using Veris during the study and within 06:26 90 days their overtime doubled. 06:28 And, and in this particular organization, I think you save the organization about 06:33 $50, 000 a year in each building that used the 06:35 product. 06:35 That's correct. 06:36 What we're seeing is that operators almost universally are seeing 6 digit 06:41 savings from a financial performance basis on an annual basis. 06:46 So you can potentially save $100, 000 or in that range. 06:49 And I, I what, how much does it cost to do this? 06:52 Yeah. 06:53 Are we are a per bed pricing structure. 06:56 And so a smaller community, it's going to be a lot more affordable 07:01 and and, and let's start that again. 07:04 What we've seen is that because we're on a per bed basis, 07:08 a smaller community is going to be proportional to a larger community in 07:14 terms of their cost. 07:16 And so they'll pay a few $100 per month, but it is very affordable and has a 07:21 return on investment within, call it 30 to 60 days for an operator and 07:26 they'll pay for the rest of the year. 07:28 So for like a normal sized nursing home, hundred 120 beds, 07:32 we're talking in the hundreds of dollars a month potentially to save thousands, 07:36 10s of thousands and maybe even over $100, 000 a year, correct, 07:40 with a nearly immediate ROI. 07:42 OK. 07:42 And how long does it take to do this? 07:44 Yeah, most operators we can get running within 07:47 two to four weeks. 07:48 So it's very fast and yeah, we, we consider it very fast onboarding. 07:55 We just integrate with the HRIS and the EHR. 07:58 So if somebody wants to do this, what, what is the next step? 08:01 Yeah. 08:02 So if, if operators are curious about how to get 08:06 started with Veris, the best way to, to start would be to reach out to us. 08:12 We'll offer a complimentary workforce spend analysis as as part of that, 08:16 we'll do like a workforce review where we look at the last 12 months of workforce 08:22 spend, including agency, overtime and, and so on. 08:25 And we'll look at kind of what are the pain points there and how can we, 08:30 where is an operator, you know, maybe leaking money or where are those 08:35 nickels and Dimes that, that we can help them pick up? 08:40 We then create a a an AI savings forecast where we can better help them understand 08:46 the the types of opportunities there are to to save them money. 08:52 No obligation, no IT left on their side. 08:56 We'll do that all, all for them. 08:58 So you'll do a free analysis to tell somebody, 09:00 here's how much money we think we can save you. 09:02 Here's where we think you can improve your staffing. 09:04 You'll give them the pricing and you'll do that for free. 09:07 Absolutely. 09:08 And the person to contact, it looks like the person to contact is 09:10 you. 09:11 Absolutely. 09:11 Yeah. 09:11 Reach out info@barris. com or feel free to call the number. 09:15 Well, Ben, this is great. 09:16 You know, I'm, I'm very pleased that you brought these 09:18 super smart people into the sector to figure this out. 09:21 Scheduling is the first step. 09:22 We got a lot of other problems that we need you to attack, 09:25 but thank you very much for being here with us today. 09:28 And let me just close by saying, you know, if you're doing your schedules right now 09:33 by hand or if you're doing them with the software product that you think it's 09:38 clunky or really not working for you, you need to contact them and and have a 09:43 free analysis done to figure out if we can use technology, 09:46 use AI to create better schedules. 09:48 And I suspect that that bears can do that for you. 09:52 Thanks again for joining us here at Park Place and for innovations that make a 09:55 difference. 09:56 And until next time, keep on crushing it in your buildings. 10:01 Oh my God, if you're still watching this, this means that you watch the end of a 10:05 very long video on Park Place. 10:07 I'm not sure what that means. 10:09 It says something about you or maybe there was just nothing else to watch 10:12 today, or maybe your priorities are a little bit 10:15 off. 10:15 But whatever it is, we really appreciate your support. 10:18 And if you want to continue to follow us, follow us on LinkedIn, 10:22 on our various social media sites and, you know, 10:24 try to find something else to do.
