Long Term Care Management System Joins the Chesapeake Innovation Center
Tuesday, March 24, 2015
Posted by: Megan Mann
Odenton, MD (March 16, 2015) – The Chesapeake Innovation Center (CIC), Anne Arundel County’s technology business incubator, today announced that Long Term Care Management System Inc. (LTCMS) has joined as a Collaboration Hub member. LTCMS, Inc. is an information technology company that develops innovative applications for the healthcare industry focusing on the long term care (LTC) market.
CEO and Founder Kaz Parker established LTCMS in 2013 to address the high cost of third party referrals and lack of real-time information for long term care facilities and their potential clients. He developed the LTC Referral Service Exchange (LTC-RS) application—the first referral service exchange in the market to integrate subscribers, customers and clients on a common platform to communicate, in real-time, client placement and demographic information.
"Today, most long term care facilities go through third party referral companies to get new clients,” says Parker. "These companies charge between 80-120% of the first month’s rent and are a huge burden on the facilities. With the LTC Referral Service Exchange (LTC-RS) application, commissions will be less and potential clients will have access to extensive, real-time information that will help them make a decision.”
Parker has secured the patent for technology to manage bed availability and capacity data and plans to implement a pilot project with hospitals this spring. LTCMS’ software will also be accessible as a mobile application on tablets and smart phones.
Parker has owned several assisted living facilities and has worked on Systems, Applications, and Products (SAP) legacy systems and middleware solutions as an enterprise resource planning (ERP) systems architect.
As a Collaboration Hub member Parker plans to utilize the expertise of the CIC team to help him apply for a software development grant from TEDCO. In addition, he intends to develop four other modules that will address long term care operations, client information processing, risk management, and telemetry.
Collaboration Hub membership was designed to provide specific business growth services and assistance for start-up companies that are pre-revenue and pre-funding, by using a programmatic approach designed to move a start-up company towards growth in an accelerated manner. Collaboration Hub members are early-stage companies with a business plan, but that need to develop their technology with demonstrated milestones and/or proof-of-concept and market validation, and to help further polish financials and presentation before approaching investors and customers.
About LTCMS, Inc.
Long Term Care Management System Inc. (LTCMS) is an information technology company that develops innovative applications for the healthcare industry focusing on the long term care (LTC) market. To date, LTCMS, Inc. has successfully developed the first of five modular and standalone applications. The LTC Referral Service Exchange (LTC-RS) application, which is provisional patent application (PPA) approved, is the first referral service exchange in the market to integrate subscribers, customers and clients on a common platform to communicate, in real-time, client placement and demographic information. The LTC-RS can be deployed either as a stand-alone or integrated with LTCMS, Inc.’s LTC enterprise-wide platform. For more information, please visit www.ialfms.com
About Chesapeake Innovation Center
As a program of the Anne Arundel Economic Development Corp, the CIC helps to attract, retain and grow startup companies in the county, ultimately enriching the entire region by accelerating new technologies into the market. As a hybrid incubator and accelerator, the CIC provides entrepreneurs with the resources, connections, and programs they need to develop their venture to a financial and business maturity sufficient for independent operation. For more information on the CIC, please visit www.cic-tech.org
Marketing and Outreach Manager
Anne Arundel Economic Development Corporation
2660 Riva Road, Suite 200
Annapolis, MD 21401
(p) 410-222-7410 (f) 410-222-7415 (c) 410-491-3490