Core Insights - The Helper Bees is a home care platform integrating over 20,000 non-medical service providers, offering services such as home care, meals, transportation, and home modifications, all managed through the platform [1][3] - The company collaborates with major insurance companies and Medicare Advantage (MA) plans to provide home care services, with costs covered by insurance [1] - The platform simplifies claims processes and reduces administrative burdens for insurance companies, enhancing service delivery [1] Business Model and Growth - The Helper Bees operates a network of non-medical service providers, avoiding heavy asset models and focusing on a nationwide service provider network [3] - The company has raised $35 million in Series C funding to expand its national coverage, particularly in Medicaid payment channels and payment innovations [1] - The platform's model acts as a connector between insurance companies, service providers, and the elderly, fulfilling the needs of all three parties [2] Data and Technology Utilization - The Helper Bees has invested in technology to create personalized matches between elderly clients and caregivers, establishing a foundation for rapid growth [5] - The platform collects extensive data during service visits to monitor elderly health, integrating around twelve data points per individual, which aids insurance companies in understanding health conditions and service usage [7] - The company collaborates with Milliman to develop predictive models that help insurance companies forecast health risks and future care needs [7][8] Revenue Growth Drivers - The Helper Bees has experienced a threefold revenue increase, primarily from commercial long-term care insurance and MA plans, by addressing the strong demand for non-medical services [10] - The expansion of the MA plan in 2019 provided a significant opportunity for growth, allowing the company to meet the increased demand for home services [10][11] - The company helps insurance companies reduce claims costs by 15% to 20%, saving approximately $6,000 per claimant annually [13] Market Dynamics - The U.S. long-term care insurance market faces challenges with rising claims costs, making home care solutions more appealing to insurance providers [12][13] - The demand for non-medical benefits has increased, prompting MA plans to enhance their offerings to attract more clients [15][16] - The fragmented home care market in the U.S. highlights the value of a platform that integrates various service providers, benefiting insurance companies, service providers, and elderly clients alike [17] Comparison with Domestic Players - Domestic companies in the home care sector, such as Fushoukang and Yijia Nursing, differ significantly from The Helper Bees in terms of payment sources, service networks, and product models [18][19] - Unlike U.S. platforms, domestic players primarily rely on self-built care teams, while The Helper Bees leverages a platform model for rapid expansion across all 50 states [19] - The current landscape in China does not yet support a complete replication of The Helper Bees' model, indicating a need for further development in the domestic market [20]