CareScout, a Genworth Company, Aims to Redefine Quality and Build Trust in Long-Term Care

By: Genworth Financial, Inc. via Business Wire

February 13, 2024 at 08:30 AM EST

CareScout Quality Network brings together providers committed to person-centered care.

CareScout today introduced the CareScout Quality Network, a first-of-its-kind group of long-term care providers who meet high standards for quality, person-centered care.

“The long-term care industry is ripe for innovation because health and social systems aren’t built to support the demand of our rapidly aging population. Older adults and their families are left to navigate a fragmented and confusing experience to find care,” said Samir Shah, CEO of CareScout Services. “Quality measures today only meet the lowest common denominator of patient safety, which is important, but provides zero insight into what care will best fit your individual needs. We are redefining quality as person-centered care and are bringing together high-quality long-term care providers committed to this movement.”

The concept of person-centered care supposes that care should address not only physical health but also mental, social, and spiritual health. Providers in the CareScout Quality Network must demonstrate a commitment to person-centered care as part of CareScout’s robust credentialing and due diligence process. Providers are evaluated against more than 20 different criteria, including Net Promoter Scores (NPS), industry standard quality ratings from the Centers for Medicare and Medicaid (CMS), and CareScout’s Person-Centered Care metrics.

As of today, CareScout has added more than 110 homecare agencies to the CareScout Quality Network and is quickly expanding coverage across the country. CareScout plans to add other care settings such as skilled nursing and assisted living locations in the future. The first group of consumers to have access to the CareScout Quality Network and receive preferred pricing on services are Genworth Life Insurance Company’s approximately 1 million long-term care insurance customers.

“The creation of a network of high-quality providers is well overdue,” said Tom McInerney, President & CEO of Genworth. “I’ve talked to hundreds of policyholders and their families over the years, and a common theme in those conversations is the stress of finding quality aging care they can trust. I’m very pleased that CareScout has taken this first important step in helping more families navigate the aging journey with confidence.”

According to Shah, the CareScout Quality Network is only the first step in the company’s longer-term vision of improving the aging experience in this country.

“Our goal is to create a unified experience powered by empathetic experts and innovative technology so older adults and their families can navigate the aging experience with confidence,” said Shah. “We are building an ecosystem of services and solutions to simplify and dignify how we better understand, find, and pay for long-term care.”

The CareScout Quality Network is actively being rolled out across the U.S. To learn more:

Visit www.CareScout.com/providers to see a list of participating providers
Long-term care providers can visit Partners.CareScout.com to apply to join the CareScout Quality Network

About CareScout

CareScout helps older adults and their families navigate the aging journey and find quality care. Inspired by a mission to simplify and dignify the aging experience, we're building an integrated ecosystem of care and funding solutions. To learn more about CareScout, visit www.CareScout.com.

CareScout, LLC (CareScout) is a wholly owned subsidiary of Genworth Financial, Inc. (NYSE: GNW).

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates,” “will,” or words of similar meaning and include, but are not limited to, statements regarding the outlook for future business and financial performance of Genworth Financial, Inc. (Genworth) and its consolidated subsidiaries. Examples of forward-looking statements include statements Genworth makes relating to future financial performance and condition of its businesses; liquidity and new lines of business or new products and services, such as those Genworth is pursuing with CareScout. Forward-looking statements are based on management’s current expectations and assumptions, which are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Actual outcomes and results may differ materially due to global political, economic, business, competitive, market, regulatory, and other factors and risks, as well as risks discussed in the risk factor section of Genworth’s Annual Report on Form 10-K, filed with the United States Securities and Exchange Commission on February 28, 2023. Genworth undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise.