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Technology-Enabled Financial Planning for Caregivers and Clients with Reduced Capacity

Award Number: R44AG074121
ORGANIZATION: NATIONAL INSTITUTE ON AGING
OPDIV: NIH
AWARD CLASS: DISCRETIONARY
AWARD ACTIVITY TYPE: SCIENTIFIC/HEALTH RESEARCH (INCLUDES SURVEYS)
PERIOD OF PERFORMANCE START DATE: 09/30/2021
PERIOD OF PERFORMANCE END DATE: 07/31/2025

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Technology-Enabled Financial Planning for Caregivers and Clients with Reduced Capacity - Abstract Caregivers of older adults with ADRD are the largest unpaid, and untrained healthcare workforce in the US, with family caregiving valued at $470 billion in 2013 (higher than total Medicaid spending for the same year). The temptation to take advantage of an impaired loved one may be exacerbated by the stress of taking over disorganized finances and absence of guidance. Lack of clinically guided financial support can also remove financial control from the person suffering from ADRD prematurely. The decision to transfer control is typically made by the untrained caregiver acting on instincts, not by a trained clinician (who does not typically advise on finances) or financial advisor (who does not have clinical training). Each year, around 15% of U.S. seniors are targeted by financial exploitation resulting in nearly $17 billion in losses annually. In over a third of these cases, $6.6 billion is lost to theft enabled by a trusting relationship with a caregiver (called elder financial abuse) annually, and even this may be an under-estimation. AARP describes an average loss of $120k per victim, almost what an average 50+ household has in savings. The stress and isolation of unpaid caregiver workload may lead to resentment and increased risk of financial abuse. There is a need for increased communication, education, and a clinically validated methodology for determining when it is necessary to begin transfer of control over finances. BSM proposes to develop a one-stop-shop technology enabled solution to address these three problems usable by a financial planner, older adult client, and caregiver.


Issue Date FY	Funding FY	Legal Entity Name	Legal Entity Address	Legal Entity City	Legal Entity State	Legal Entity Zip Code	Legal Entity COUNTY	Legal Entity COUNTRY	Assistance Listing	Award Code	Budget Year	Action Date	Action Type	Action Amount

Issue Date FY: 2026 ( Subtotal = $0 )
2026	2023	BRIDGESOURCE MEDICAL, CORP.	3301 NORTHLAND DR STE 214	AUSTIN	TX	78731	TRAVIS	USA	Aging Research	000	3	12/31/2025	NON-COMPETING CONTINUATION	$0
														Subtotal = $0

Issue Date FY: 2024 ( Subtotal = $0 )
2024	2022	BRIDGESOURCE MEDICAL, CORP.	3301 NORTHLAND DR STE 214	AUSTIN	TX	78731	TRAVIS	USA	Aging Research	000	2	10/26/2023	EXTENSION WITH OR WITHOUT FUNDS	$0
														Subtotal = $0

Issue Date FY: 2023 ( Subtotal = $998,064 )
2023	2023	BRIDGESOURCE MEDICAL, CORP.	3301 NORTHLAND DR STE 214	AUSTIN	TX	78731	TRAVIS	USA	Aging Research	002	3	7/10/2023	NON-COMPETING CONTINUATION	$998,064
2023	2022	BRIDGESOURCE MEDICAL, CORP.	3301 NORTHLAND DR STE 214	AUSTIN	TX	78731	TRAVIS	USA	Aging Research	001	2	1/25/2023	EXTENSION WITH OR WITHOUT FUNDS	$88,573
2023	2021	BRIDGESOURCE MEDICAL, CORP.	3301 NORTHLAND DR STE 214	AUSTIN	TX	78731	TRAVIS	USA	Aging Research	000	1	1/25/2023	NEW	-$88,573
														Subtotal = $998,064

Issue Date FY: 2022 ( Subtotal = $979,528 )
2022	2022	BRIDGESOURCE MEDICAL, CORP.	8501 ROCKWOOD LN	AUSTIN	TX	78757	TRAVIS	USA	Aging Research	001	2	8/2/2022	EXTENSION WITH OR WITHOUT FUNDS	$979,528
2022	2021	BRIDGESOURCE MEDICAL, CORP.	8501 ROCKWOOD LN	AUSTIN	TX	78757	TRAVIS	USA	Aging Research	000	1	8/1/2022	NEW	$0
														Subtotal = $979,528

Issue Date FY: 2021 ( Subtotal = $299,880 )
2021	2021	BRIDGESOURCE MEDICAL, CORP.	8501 ROCKWOOD LN	AUSTIN	TX	78757	TRAVIS	USA	Aging Research	000	1	9/21/2021	NEW	$299,880
														Subtotal = $299,880

Grand Total All Awards = $2,277,472

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Technology-Enabled Financial Planning for Caregivers and Clients with Reduced Capacity

Award Number: R44AG074121

ORGANIZATION: NATIONAL INSTITUTE ON AGING

OPDIV: NIH

AWARD CLASS: DISCRETIONARY

AWARD ACTIVITY TYPE: SCIENTIFIC/HEALTH RESEARCH (INCLUDES SURVEYS)

PERIOD OF PERFORMANCE START DATE: 09/30/2021

PERIOD OF PERFORMANCE END DATE: 07/31/2025

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