Nymbl has closed the first round of its Series Seed Financing Round, which exceed the target. The round was led by the Rockies Venture Club (RVC), a Denver-based Angel Club that is the longest tenured in the United States.
This new capital, which is authorized up to $1.4 million, will be used to build the sales and customer experience teams, and bolster the tech team as the company continues to scale to reach its goal of preventing one million falls.
“We are excited to have the capital to accelerate our growth trajectory in both Senior Living and Healthcare, which are really beginning to take off”, commented Ed Likovich, CEO of Nymbl, “RVC has been a great lead for our Seed Round. They have an excellent process that allowed us to meet literally hundreds of qualified angel investors, and have introduced us to investor syndicates all over the country. We are happy that the bulk of this round came out of Colorado.”
We recently spoke with a medium sized Independent Living Community who was looking to implement a fall prevention program. Their fall statistics in the past five months:
10% required hospitalization
2 signed risk agreements
This is “normal” for most Senior Living Communities – essentially on fall every two days. We’ve worked with many communities where, according to the STEADI protocol, between 50% and 80% of residents are at acute fall risk.
So what can be done?
The obvious choice is to implement a fall prevention program. We have developed a step-by-step article on how to implement a program that we’d be happy to assist with. Or contact us if you’d like to explore the benefits of working with Nymbl.
Calculating the ROI of implementing a Fall Prevention Program
Before committing to running a fall prevention program, it’s important to understand the Cost/Benefit of the program to see if it will help the bottom line of the community. In the community above, the return from implementing the program was projected at 6.5 times the cost, an ROI (Return on Investment) of 650%!
How is an ROI this high possible from a fall prevention program? The average cost of a move out in independent living $8000, from lost rent (1 month at least) and marketing cost to replace that resident. So the community has already had a hit to their bottom line of $16,000 in lost rent and incremental marketing costs in just 5 months. Projected over a year, the cost will total nearly $35,000! Nymbl costs just a fraction of this. So even recognizing that not all falls can be prevented, it’s an extremely good investment.
There are other costs that may not be taken into consideration when you calculate the advantage of a Nymbl fall prevention program. How much of your staff time is taken up by dealing with resident falls: urgent calls to the medical staff, calling the ambulance and calming down residents who may be upset. Falls have ramifications and costs to the entire community, so any fall avoided reduces both cost and suffering in many ways.
Nymbl has developed an ROI cost calculator that will determine the return for your community. Please contact us and we’d be happy to develop the analysis with you. Or attend our free webinar about how to make Falls Prevention work effectively.
DENVER, June 15, 2019 — Nymbl is excited to announce the appointment of Emma Bunch to its sales team as a Junior Business Development Representative. Emma will focus on educating operators and providers about Nymbl’s patented dual-tasking approach to falls prevention in senior living communities worldwide, and how implementing Nymbl can significantly decrease the fall risk of members in a community.
Emma joined Nymbl Science’s team this Spring through a 6 week internship where she displayed a passion in preventing the trauma seniors experience when they fall, as well as a great ability to understand the needs of Senior Living Communities. “I am incredibly excited to join the Nymbl Team full time as we continue to revolutionize balance training and fall prevention! My background in physiology and business will be a great addition to an already talented and passionate group of people.” says Emma.
In her position, Emma will be focusing on the Senior Living Communities by:
Building relationships with senior living communities whose values align with our efforts in fall reduction.
Creating educational information and opportunities for prospects to learn more about dual-tasking and its role in reducing fall risks.
Ed Likovich, CEO of Nymbl Science, commented “We are thrilled that someone as talented as Emma is joining Nymbl. We are confident that her passion for older adults coupled with her terrific skill set will move us closer to our mission of preventing 1 million falls .”
About Nymbl Science
Nymbl combines medical science and mobile technology to measure, track and improve balance. The Nymbl Balance Improvement System trains reflexive balance through dual tasking exercises delivered via patented smartphone technology. Nymbl achieves high engagement by giving older adults a fun experience they can do anywhere, in only 10 minutes a day. The Nymbl intervention is low cost and requires minimal human intervention, making it the ideal population health solution for the problem of falls among older adults.
We are proud to announce FirstLight Home Care, known as one of the county’s most innovative home care companies, has joined the Nymbl family in the mission to prevent 1 million falls in Colorado, Northwest Houston, and Chicago.
Through the partnership, Nymbl’s patented Dual-Tasking Balance Improvement program is integrated into the plan of care for FirstLight’s clients, and offered as part of the standard daily visits. The program takes only 10 minutes and adds fun to the visits through the engaging trivia, word games, and other cognitive challenges offered via Nymbl’s training app.
There is increasing consensus that social isolation is not only depressing for older adults, it’s also deadly. Loneliness increases the likelihood of mortality by 26 percent*, and is as damaging to health as smoking 15 cigarettes a day**. You might not make an immediate connection between fall prevention and social isolation, but not only are they linked, fall prevention programs can have a dramatic impact on loneliness and social isolation.
One of the key causes of social isolation is fear of falling. If an older adult is worried about falling, they go out less, or even stop going out altogether. This stands to reason – if you are worried about having a catastrophic fall every time you leave the house, you’re going to think twice about going out.
So fall prevention programs can have a significant impact not just on falls, but also on helping alleviate social isolation. Confidence gained from improved balance links directly to likelihood of going to that dinner with friends, family gatherings, a play or the movies.
This creates a virtuous cycle – improved balance reduces fear, which increases how much an older adult is willing to go out, and every time they go out, the exercise involved in dealing with the “real-world” helps improve balance as well.
This is true in Senior Living Communities even when a resident is surrounded by other residents. Fear of falling and lead to social isolation because residents stop going to events and meals. Improved balance will lead to more participation in Community events. So when looked at community wide, a community with better balance will have less social isolation because residents will choose to participate in more activities. Fall prevention programs have positive impact on the lives of everyone in the community.
If you are running a Senior Living Community, it makes sense to implement a fall prevention program for many reasons, social isolation being just one. If you would like to explore how to set up a successful fall prevention program in your community, we invite you to a free webinar that discusses the science behind fall prevention and how to implement it in your comunity.
Or fill out this form if you’d like to speak with us directly.
Nymbl is excited to partner with PARC Retirement Living to bring our award winning Falls Prevention program to their Independent Living Communities. PARC is integrating Nymbl’s system in their 5 communities in Vancouver and Western Canada and Nymbl will be a key service in their new communities as they launch.
Nymbl fits well with PARCs goal of creating communities that are “inspiring living spaces where residents come to live well, stay active and engage with a vibrant community of like-minded people”. Balance is a critical foundation to achieving this goal, and Nymbl will be offered daily to all residents in fun, easy to attend classes as well as in-home via our Nymbl Training App on their smartphones.
Jacqueline Omstead, Director of Operations at PARC, commented about the Nymbl partnership, “We are proud to be the first Canadian senior living group to have Nymbl and it proves our continued commitment to wellness and solves real problems for us”
Nymbl received word in April that we have been approved for a patent by the US Patent office! This patent number 10,376,739 covers the use of dual-task balance evaluation and training delivered by a smart device such as a smartphone or tablet.
“We are thrilled that the US Patent office has officially recognized the brilliance of dual-task balance training and the profound impact it is having on Nymbl users worldwide. We couldn’t be happier that our processes are now protected under patent”, said Ed Likovich, CEO of Nymbl Science.
George Karakatsanis joins Nymbl Science’s leadership team
Nymbl is excited to announce the appointment of George Karakatsanis to its management team as VP of Sales. George will focus on accelerating Nymbl’s strong momentum delivering its patented dual-tasking falls prevention system in senior living communities worldwide.
George Karakatsanis has joined the Nymbl Science’s team through a shared passion in preventing the trauma seniors experience when they fall. “I have seen firsthand the impact a simple fall can have on not just a resident but on their community and families as well. Nymbl not only has the first truly scalable falls prevention program, older adults love it and are thrilled when their communities adopt it. It is exciting to be a member of this team that is truly making a difference in older adults’ lives.” says George.
In his position, George will help Senior Living Communities:
Creatively implement and leverage Nymbl Science in their specific community.
Deliver Nymbl Science thought leadership to this pervasive challenge industry wide.
Help change the discussion from fall prevention to delivering freedom to our seniors through increased balance and mobility.
Ed Likovich, CEO of Nymbl Science, commented “We are thrilled to have George join our team. His passion for our mission combined with his deep experience in the senior living space moves us a significant step closer to preventing 1 million falls. With George onboard, we now have the bandwidth to expand nationally and internationally.”
Parkinson’s Disease (PD) is a devastating brain disorder caused by the impairment of nerve cells in the part of the brain that controls movement. The combination of two characteristic symptoms of PD can be very deleterious to a person’s overall health.
One symptom is a shuffling gait, and a struggle to continue to move forward (reported as a “freezing” sensation). The other symptom is decreased balance. Their balance is no longer controlled reflexively, like it is for the rest of us. Instead, they must pay more attention while they are walking in order to not lose their balance. The collective effect of both these symptoms is an increased fall risk for Parkinson’s patients.
To improve gait and balance, people with PD typically see a physical therapist to help them increase their stride length and reduce their chance of tripping. Counter to previous beliefs in which dual-tasking while walking could be detrimental to a person’s balance, research now shows dual-tasking can be an essential intervention in improving gait and balance in people with Parkinson’s, providing an alternative to the classic physical therapy techniques.
Sandra Brauer from the University of Queensland and Meg Morris from the University of Melbourne conducted a study on how added tasks and performing working memory tasks while walking can improve PD patients’ gait.
In their study, 20 participants with mild to moderate Parkinson’s had their baseline gait measured with and without added tasks, and then underwent a training period that included dual-task training to increase their gait. Subjects performed working memory tasks and counting tasks while they were walking and instructed to “take bigger steps”. As the training went on, the difficulty of the cognitive task increased.
After the training period, the subjects’ gait with the added tasks was measured again. The results of this study fully supported the hypothesis that dual-tasking training would improve gait in Parkinson’s patients. All 20 participants showed increased gait length after their dual-tasking training because they had learned how to focus more on the task, and less on the way they were walking (“reduced attention demand of gait”).
How does this relate to Nymbl Science? Nymbl uses a similar dual-tasking approach to train balance in older adults. Just like PD patients, balance in older adults is not as effectively controlled reflexively, but is instead something they have to consciously think about while performing their day-to-day tasks, ultimately creating a lot of anxiety.
As demonstrated in both the Parkinson’s study and in Nymbl users dual-tasking shifts balancefrom the frontal cortex (the “thinking” part of the brain) back to the cerebellum for reflexive balance control. For Nymbl users, performing simple exercises while interacting with fun cognitive tasks drives their balance control back to being reflexive.
The Brauer and Morris study is further proof that dual-tasking training has the power to transform balance in a wide range of people, which in turn leads to improved health and overall lifestyle.