MemoryWell

MemoryWell operates a digital platform focused on patient engagement through professional storytelling, primarily serving the healthcare sector. Founded in 2016 by Jay Newton-Small, the company was born from her personal experience caring for her father who had Alzheimer's. A former correspondent for TIME Magazine, Newton-Small recognized the inadequacy of standard intake forms in conveying a patient's life story and personality to caregivers. She wrote a compelling narrative for her father, which significantly improved his interactions with staff and reduced his agitation. This insight formed the company's foundation: harnessing the skills of journalists to create empathetic connections between patients and providers.

The company's core service involves a network of over 700 professional writers who interview patients and their families to produce detailed life stories. This process replaces standardized questionnaires with a conversational approach, capturing vital data on Social Determinants of Health (SDoH) and Health Risk Assessments (HRA). The resulting narratives and structured data are delivered through a digital platform, aiming to provide a more holistic view of the patient than a checklist can offer. This approach is designed to enhance care quality, improve patient satisfaction, and build empathy, which has been shown to reduce caregiver turnover. In October 2020, MemoryWell acquired the life story app Trib, integrating video recording and other features to enhance its digital timeline tool.

MemoryWell's business model is primarily business-to-business, operating as a subscription-based service for its clients. These clients include Medicare Advantage plans, senior living facilities, home care agencies, and providers of hospice and palliative care. By fostering a better understanding of patients, the service helps these organizations improve member engagement, benefit utilization, and retention. The company has raised a total of $4.06 million over six funding rounds, with its latest seed round in October 2023. Key investors include Techstars, Argon Ventures, and the Department of Health and Human Services (HHS). The collected data also fuels a predictive AI system to further analyze SDoH, offering broader insights for healthcare organizations to make more effective investments.

Keywords: patient engagement, healthcare storytelling, Social Determinants of Health, SDoH data, person-centered care, elder care technology, Medicare Advantage, caregiver support, life story archiving, health equity, patient narrative, healthcare data, Jay Newton-Small, digital health platform, senior care, home care, palliative care, memory care, health risk assessment, patient experience