BALTIMORE and ARLINGTON, Va., Nov. 16, 2016 /PRNewswire-USNewswire/ -- Meals on Wheels America, Meals on Wheels of Central Maryland and Johns Hopkins Bayview Medical Center announced today that they are collaborating on a new project that aims to help vulnerable seniors in the Baltimore area remain independent at home while reducing their need for high-cost healthcare services. This exploratory initiative will be supported by the first Pay for Success transaction for senior services.
"Each day, 12,000 Americans are turning 60, and this rapidly growing population is living longer with more chronic conditions. At the same time, funding to meet basic needs of at-risk seniors has declined and the healthcare system is overburdened," said Ellie Hollander, President and CEO of Meals on Wheels America. "It is our goal to continue to build the evidence base for Meals on Wheels services and to create the basis for replicating the approach with other Meals on Wheels programs across the country." By leveraging resources from a private third-party investor in an emerging model known as Pay for Success (also known as Social Impact Bonds), the project plans to scale Meals on Wheels of Central Maryland's existing services to hundreds of additional seniors in the Baltimore area over the next several years. A rigorous assessment of the impact on both health outcomes and healthcare cost savings will be conducted by an independent evaluator.