Hi everyone, My name is Marc McGrann, I'm Director of Business Development for Home at Vayyar in North America. Just here to talk to you today about some of our technology and some of the hopefully great opportunities for us to partner and work together. So let's go ahead and dive in here.
We've been looking at Vayyar as what we believe is the foundation for driving aging in place. What we mean by that is really the monitored well-being of those customers that we have. It's been said a lot today and yesterday over and over again how our market is in such a great place because seniors really do want to age at home. We know that over 90 percent of adults over 65 want to age in place. We know the active adult segment is growing and we know that seniors are delaying moves into things like assisted living and independent living facilities, especially with COVID going today.
Other great signs yet they are market threats would be movement of large IT companies such as your Google, Amazon, Facebook, getting into the connected health space. We know there are some threats there. I think they are a little bit of a ways out, although they're a little closer than some of us are letting on at this point. While this is a great sign for our industry, obviously we're heading in the right direction if we're attracting this type of competition, it's something that's important for us to get in front of, before we get left behind. And that's what Vayyar is bringing to the table today.
So when we talk about the desire to live at home, I just want to point out how big a desire this actually is, just in case we haven't driven at home enough during this seminar. And it's the biggest point that stood out to us during our research was that living independently in home for as long as I can was actually more important than even being financially independent. Even more important than being mentally accurate, even more important than ensuring my loved ones know I'm safe and well, what's most important to these people is themselves, they are humans at the end of the day, they want to have control over their lives, over their well-being, and they want to find the tools to help them accomplish that.
So what have we been providing? When we look at our market out there today, we started out with emergency pull cords, we moved to different buttons on the wall and of course, to buttons within the home. I know about a decade ago we made the big leap to mobile PERS buttons which was fantastic. I spent a long time working with a lot of you to accomplish that.
But we seem to get a little bit static and a little stagnant in some of our development. Some of the exciting things that have been introduced at this conference, for example, have been moves to now allowing Verizon. Now we have a brighter button that comes in the front of our device or we have a new button on the side of our device that allows us to cancel calls or we've made the button a little bit lighter because we know that the weight of the button is a big problem, mostly caused by the fact that cellular modules inside the devices keep getting bigger as our phones are able to do more under the modules are being made for that market more than our own.
So until now. What Vayyar started to take a look at was how can we build a better solution for the connected health market? What are the building blocks of something that makes our technology truly great and truly different?
Things that we like to look at are things like respecting privacy. Now I know the buttons do this today. They certainly don't have any cameras. And that was an important feature of protecting people. Again, I believe our buttons do this today. I believe a lot of the PERS industry today they're getting protection because they have a button around their neck. And I know that we've helped people and we help people every single day. But the things that I think we're missing are some of the touchless components. I know when I talk to people about the biggest problems that we have creating technology, it's usually not in the technology itself, but in the user. They don't want to wear the button, they don't want to press the button when they're supposed to. If people always did what they should, I always say McDonald's wouldn't be one of the biggest restaurants in the country. Fact is, at the end of the day, we have to have technology that helps people without requiring them to help themselves. And what that means is passively observing…something that can be proactive, predictive, something that it uses artificial intelligence. And with all that, of course, being cloud based, accepting that information and being able to analyze that data.
So the solution that we propose is our Vayyar Home.
It's a monitored health solution with a lot of opportunity, a lot of customization available and something that's very exciting for the industry. Before I get into this button or into this button, into this not button, into this sensor that simply goes on your wall, I'd like to talk a little about what RF imaging is.
I know a lot of people, lot of you even that I've talked to about this technology usually go with the knee jerk reaction of, oh, we've seen motion detectors before. This is not a motion detector. RF imaging means a device that is able to actually see in front of it. What we're talking about is a device that's able to see a person as they come into the room, it's able to follow that target as they move throughout the room. It can tell you where they are within the room. It can tell you if they've gotten into their bed. It can tell you if that person is standing up or lying on the floor. And that in itself is the big advantage that we have, a single device that doesn't require any wearable to be worn, any button to be pressed, any cord to be pulled, any sensors to be placed into the bed, any contact whatsoever with the individual or any effort on their part to get them help. There's no cameras means your privacy is always protected, your data is stored securely in the cloud and remotely available, meaning that it can be built into a lot of those platforms that you were developing today. And we use the latest artificial intelligence technology to monitor, predict, protect, and we're able to get ahead of falls now. So as we're having conversations with those Medicaid agencies, with those health care companies, with their CCRC's, we can show them something of more value than what we've been able to offer before.
What this is is an end to end solution. On the sensor side, again, I can't stress enough, this is completely touchless technology. We use radar to see people and monitor them 24/7, all the while completely respecting privacy. There are no cameras with our devices and there's no images actually developed. The radio waves are completely safe, they’re a thousand times weaker than anything coming out of a cell phone and of course, a big advantage of our devices they work inside of the dark. They can see through steam. Doesn't matter if it's too…there's no such thing as too light. So they're perfect for everything from the bedroom, to the bathroom, to the kitchen.
On the analytics side of things, we have everything available on one easily accessible place for all resident data. So that means we have a resident dashboard for those assisted living, independent living, memory care, nursing homes. Any of these places can access their data and they can see everything going on. And of course, all this information can be built into your platforms as well, which we have been very excited to see during this conference. It's fantastic to see the information that we're starting to gather. What we can do with this technology, we can help these different agencies to reduce their staffing, reduce their overhead, but we can also make them faster for their fall response since it's automated and completely passive response, not counting on the resident to get themselves help and not counting on those residential customers that you have to get themselves help. We have mobile applications that can notify family and friends, to nursing staff and of course, your favorite monitoring centers.
We're offering the market today what I believe is very exciting and the reason that I joined Vayyar about a year and a half ago is that we're offering something different. So many of our customers today have been offered again and again a button. They've been told, here's a button that smaller, here's a button with a longer battery life. Here's a button that has a brighter light. Here's a button that's easier to press. Here's a button that can be Bluetooth paired. Here's a button that can be Wi-Fi connected. Here's a button that can communicate over cell. But at the end of the day, they come back to a lot of the same problems our industry has been fighting against for a long time. Thanks to the Edmans group for going to their great presentation yesterday, one thing that stood out to me was the reasons for churn. The reason that customers canceled.
On the direct consumer side, we saw that 15% of customers were canceling because the device was never used or they actually refused to use it. That was only second behind them moving to assisted living meaning they didn't need the device anymore and other. Let that sink in for a second. We're losing 15 percent of our people to one, they've completely aged out of being in their home. They can't stay in their home anymore. So it's not an option anymore. And other meaning that we really didn't have a good reason for why. And those were never used and refused to use. People backing off the button. On the health care side, no different there- actually 19 percent. People never use or refuse to reuse was a reason for their cancellation. So when we gave them the button, no matter if it was lighter, smarter, better, they still refused to use it. And that was only second behind loss of eligibility, which means they flat out weren't being paid for the button anymore and death. These are two major numbers, two big things that we need to do something about, which means there's an opportunity to stand out and make a difference by implementing new technology.
I'd like to show just a quick look at how our device works. So in this video, we have a demonstration of what it would look like for a facility. As a customer or resident moves throughout their home, we can see they’re in their bedroom and their bed, all this being done with a single device placed on the wall. The person lies down. The device is able to pick up they’re in this area. This information is tracked and kept later for additional health analytics. Person gets out of bed, we can do notifications, let them know they're out of bed. And of course, if a fall were to occur, our device is able to give them a short time to actually stand back up and get up right or notify staff, monitoring centers, family and friends to get them help. We can do that directly to the staff monitoring centers or through our mobile applications that can show for caregivers or those nurses that are on hand to get them help quickly. Additionally, our devices work together, so not just in the bedroom, but also moving to the bathroom. Looking at this movement from place to place, we can track everything from how a person’s sleeping to what is their activity during the day to whether or not they're going to the bathroom. Find those key indicators that a fall may be coming soon.
At the end of the day, seniors absolutely love it. They're getting something that doesn't require any wearables. They're getting something that gives them privacy. They're not required to be on camera all the time. It’s an award-winning monitored well-being solution, not something that's just focused on their falls and getting help if you go down on the ground and you have to wave that white flag.
Now, opportunity for you, this is what we're all here for. We understand that it's a great product. We understand that it can help, but what can it do for you? As we go into that, it's important to understand who Vayyar is. At Vayyar, we create and design the most advanced RF imaging chips in the world. What that means is that the products that we're offering you are not a conglomerate of different pieces of equipment that we've sourced from other areas to put something together. We actually designed the guts of this equipment. We actually make the chips that go inside of these devices. We are a one stop development shop. That means we can provide you anything from a completely customized solution all the way out to an off the shelf one ready to roll tomorrow.
Everything we do is focused on our customers and the users. We own the complete end to end solution to ensure our quality We’re able to give every aspect of the attention it deserves and that means from the design to the manufacturing to the sales and support you're always in good hands.
If you want to go early on in the process and you want to take a look at our chips and maybe build them into equipment that you have-we can do that. If you want to look at our sensors today and you’d say this seems to catch a lot of fantastic data, can I get that into my platform? We can do that. If you take one of our off the shelf solutions and you say you need help on a sales call and you want to be able to close that local facility or even that national chain, I can help with that.
And if you need help training that staff we have an international customer success team that's going to be there for you to help you train and help with that installation process because we've done it before. On top of that it's extremely affordable, it's safe, it’s a highly accurate system and again you can implement this in any product you'd like. What we'd like to introduce today is our vBlu chips where you can actually leverage our cutting edge radar on ship integrate and innovate into your product line with the power of 4D imaging.
In those chips you'll have access to different features such as
These are all things where you can actually get our chips today, build them into your system, into your new technology and build it from the ground up.
At Vayyar we focus on everything throughout the product lifestyle cycle. We start from option one of the prototyping stages all the way through the customer design, we can build you the product that you're looking for at the end of the day or hand you one of our off the shelf Vayyar Home solutions.
Not only that, we can partner with your favorite base station. Mytrex fantastic PERS company, it has been around for decades at this point. Already started that integration process with the Vayyar Home devices’ standard off the shelf solution we connect over Wi-Fi. By working with Mytrex as well we now have a chance to connect over the LTE network--something that opens up entirely new markets. So what does this also mean for you? What we’re not offering is just a new product added to your line but an opportunity to increase residential customer revenue while also creating new business opportunities in the bulk markets. This is something I've been a strong evangelist ever since joining Vayyar as I've approached some of my smaller PERS dealers who I’ve worked at in the past and closer PERS dealers that I thought really had opportunities to grow. We've talked about the facility market. We’ve talked about opportunities for residents preferring touchless technology in the independent living space. We've talked about family members wanting to be reassured their loved ones are safe and they're actually using the equipment they're paying for.
We've talked about senior living communities, how it’s a completely open market at this point. In the past they really haven't wanted new buttons that come into play. But with this technology you can offer them something that is automatic and passively go on the wall with advantages ranging from better staff utilization, faster response times to your resident, chances to improve overall health of your residents and you can even get discounts on their insurance. With our best-in-class installation support teams you can focus on growing your business as well. We have Customer Success teams as I mentioned before that are international teams based here in the United States as well as overseas. The devices are easy to install. They're supported by our customer success experts and we do automatic over the air updates to our devices which means you don't have to go around taking devices off the wall or switching them out.
So a few words from the customer side. First I'd like to talk about Coronado Heights. This is a facility when Marcus first came to us they were looking at putting something in place through one of our dealers that could help them compete where they were. They’re in a very competitive market, they knew their facility next door had gone and put in a new fall detection system and they needed something to be better and they got it. By putting Vayyar Home in their memory care facility, it helped take them to the next level. Stay Home New York, a small dealer in upstate New York just started out with us, already have said working with Vayyar Home has been an amazing experience. They've proven to be a huge asset to our organization. I actually joined Mark Johnson as well as our other co-founder Brian on a call just last week helping them to close a new facility that they're moving into.
So huge opportunities where we’d love to be a partner with you. We can help you through the process. We can get you from the start to the finish. So I really appreciate your time today. Please reach out to me, touch base. Let's set up some more time to speak. Let's get into some of those details. Let's talk about your vision, where you'd like to take things. How you'd like to take the market by storm. How you'd like to stand out from the crowd.
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