Founded by iSelect co-founder, Damien Waller and Executive Director Kyra-Bae Snell, CareAbout provides free advice across a select panel of home care providers.
For aged care consumers, advice is via a flat fee and includes all aged care facilities.
“Making the wrong decision can cost consumers thousands of dollars and in many cases we have saved $100,000 for our customers, negotiating lower rates on entry to an aged care facility”, Ms Snell says.
“We have seen cases where providers have taken 50 per cent of the government [home care] packages in fees, with the result being financial pain and inferior service for the consumer. We believe there needs to be greater transparency around provider fees and charges”, she adds.
According to The Australian, Mr Waller reportedly netted $45 million in June 2017 when he sold his 10 per cent stake in iSelect and has personally invested in CareAbout, as well as attracting friends, family and investors to financially back the company.
He says if a decision was made to significantly expand, the company would target strategic investors.
“All our metrics are going up significantly. We are in a strong position,” Mr Waller said.
The Melbourne-based company has already grown to a team of 22 and now operates in Victoria, NSW, South Australia and Queensland.
Home care is a rapidly expanding sector, with the number of providers nearly doubling to about 800 across Australia in the last 18 months.
Could CareAbout end up leading the pack?
