Episode 42: How to Stay Healthy During the Holidays With Katherine Tallmadge
/On the show, I am excited to introduce today’s featured guest, Katherine Tallmadge. Katherine is a licensed and registered dietician.
Read MoreElena Lipson chats with entrepreneurs, athletes and healthcare professionals about their professional and personal growth.
Each episode features a guest who shares their growth story - how it started, stall points and strategies for maintaining their mental and physical health while intensely growing their business.
Each episode is accompanied by a BOOST Bonus with strategic insights, tips and tricks, and resources to accelerate your growth and self-care.
On the show, I am excited to introduce today’s featured guest, Katherine Tallmadge. Katherine is a licensed and registered dietician.
Read MoreToday’s featured guest is Richard Jackson from Riverside Health System. Rick is the Executive Director of the Riverside Center for Excellence in Aging and Lifelong Health, which helps older adults and their families make informed decisions about their health and wellbeing.
Read MoreToday’s featured guest is Sharie Torres. Sharie is a registered nurse from Hawaii and has worked in a large healthcare system there for 20 years. She acts as a Utilization Manager and has witnessed firsthand how technology has helped one of the largest providers of the nation, improve their workflow and referral management processes. A lot of healthcare systems today are struggling with the transition to technological solutions. Moving from hundreds of paper processes to something quicker can be a huge and often tedious undertaking for a medical team.
Read MoreToday’s featured guest is Denise Rabidoux, President, and CEO of EHM Senior Solutions. EHM Senior Solutions is a not-for-profit organization with a history dating back to 1879. Formerly known as Evangelical Homes of Michigan, EHM operates senior living, Medi-Care at home and private duty life choices programs.
Read MoreWe are in for a treat with today’s featured guest, Alex Go. Alex is the CEO and Co-founder of LivWell Health, a technology-enabled service provider that assists seniors to live independently at home and also for families seeking assistance in their care. Their goal is to make caregiving easier for the 44 million Americans that are caring for older adults and special needs children. LivWell Health partners with senior service providers to expand the markets they serve with the goals of enhancing revenue and improving staff productivity.
Read MoreWith an aging population that prefers to live independently in the setting of their choice (often their home), the demand for home and community-based service delivery is growing.
LivWell Health is designed to meet this need for patients and their families, care coordinators, social workers and senior living providers.
Senior living providers enjoy LivWell Health's interactive digital signage systems and tablets to register for social activities, submit service requests, review dining options or just keep up with community news. This offers one information system to power all of the providers' signage, in-campus TV channel and resident portal solutions.
This four-part podcast series dives deeper into the role that LivWell Health and technology in general increasingly play in home and community-based services and care transitions. The following episodes explore LivWell Health founder Alex Go's personal journey as a caregiver and how it inspired him to create LivWell Health, as well as examples of how several communities and care coordinators have incorporated LivWell Health into their programs with great success.
Today’s featured guest is Tristan White. Tristan is the CEO and founder of The Physio Co, which helps Australian seniors stay mobile, safe, and happy. Onsite physiotherapy is their thing. In 2004, The Physio Co was just one person with a vision to change seniors' healthcare forever. Today, The Physio Co is ranked as Australia’s best place to work, has 100 team members and delivers over 200,000 physiotherapy consultations per year.
Tristan is a qualified physiotherapist from the University of Melbourne. He has an MBA from Queensland University of Technology and a Masters degree from MIT for their Entrepreneurial Masters Program. Tristan also loves helping other people build strong cultures and be happier at work. He writes a blog called Culture is Everything, which Smart Company lists as one of Australia’s 25 Best Business Blogs and he is also a speaker. In today’s episode we hear all about Tristan’s work with The Physio Co as well as the systems he uses to create successful cultures in his organization and in others.
BOOST Bonus: 8 Innovators Targeting the Elder Care Market
Today’s featured guest is Jim Klopman. Jim is a lifelong innovator who has always been one of those people who thinks differently. He was born with brain damage, ADHD, and dyslexia and used athletics to overcome these challenges. After years of being an athlete and unsure of his purpose in life, Jim found his purpose and developed his own business called The SlackBow Balance Training System.
After five years of development, Jim believes that with the right neural whole-body training to optimize the human balance system, everyone can improve physically and mentally, and can even live longer and feel younger. Prior to starting SlackBow, Jim worked as a VP of Marketing at Intera Corporation and at Russell Athletic as a Management Turnaround Specialist and Product Developer. Today Jim is here to share more about balance training and what the SlackBow System is all about.
BOOST Bonus: 8 Ways to Improve Your Balance
Today on the podcast we are delighted to welcome Jay Newton-Small. Jay is the co-founder of MemoryWell, which is an online platform that empowers caregivers to provide compassionate and empathetic care. They do this by having journalists tell the stories of people who can’t tell their own, which helps caregivers understand them and improve their quality of life. MemoryWell was launched in September of 2016, and it’s off to a really impressive start. Just a few weeks ago, in March 2017, Jay and her team took home the top prize of $130,000 in the Launch category at the Inaugural WeWork Awards.
Prior to her life as a startup founder, Jay served as the Washington correspondent for Time Magazine and is also the author of Broad Influence: How Women are Changing the Way America Works. Jay has written about everything from Washington politics to foreign policy and national trends. She’s covered stories on five continents for Time from conflicts in the Middle East to the earthquake in Haiti, to the Scottish Independence Movement, and attacks in Paris. She has also covered the 2008 and 2012 presidential campaigns for Time, as well as Congress and the White House, and interviewed numerous heads of state, including Presidents Obama, and George W. Bush, along with senators, governors, and foreign dignitaries. She has written more than half a dozen Time cover stories and contributed to dozens of others. Jay is also still a regular contributor on MSNBC and CNN and continues to contribute to Time Magazine.
BOOST Bonus: Taking Care of YOU: Self-Care for Family Caregivers
Today’s featured guest is Patrick Freuler, the founder, and CEO of Audicus, which offers high-tech, affordable hearing aids by selling them straight to consumers, online. Audicus is changing the way hearing loss is diagnosed and treated by providing remote hearing test solutions, which they do by offering free hearing test apps on desktops and iOS. This unique model is truly disrupting the hearing aid industry. In fact, it is so disruptive that Audicus has become the leading eCommerce retailer of hearing aids and has saved consumers more than $30 million to date.
On top of that, Patrick recently pitched to Sir Richard Branson on Necker Island alongside only a handful of companies in the Extreme Tech Challenge. Patrick was born in Switzerland but he was raised in and went to school in Brazil and Amsterdam. He holds a bachelor’s and master’s degree in Aerospace Engineering from MIT and before Audicus he worked as a private equity healthcare investor at Bain Capital and also as a Strategy Consultant at McKinsey.
Patrick joins us today to talk about the three things that everyone should know about Audicus, including how they are streamlining the hearing aid acquisition process with a consumer- centric focus. He shares how Audicus is revolutionizing the hearing aid industry by taking a completely new approach and offering consumers an alternative to purchasing hearing aids. Patrick outlines exactly how they were able to grow Audicus by tapping into the tech- enabled, younger consumer segment with their unique business model. The press and word of mouth that the company received from this approach was what really put Audicus on the map.
Ultimately, Audicus is all about bringing people together by taking a consumer-based focus to their branding. Patrick also shares how they aim to educate their consumers to take healthcare decisions into their own hands to have a drastic improvement in their quality of life.
Episode 19 Transcript: Disrupting the Hearing Aid Industry with Patrick Freuler
BOOST Bonus: 5 Ways to Disrupt a Dying Industry
It's scary to take the leap of faith and start your own business, no matter how excited you are to pursue your passion. Our guest, Adam Kaplan, left a comfortable job at his father's company to do just that - so today he's sharing that journey.
Adam Kaplan is the founder and CEO of Solera Senior Living, a platform for the development and operation of luxury communities for seniors. Adam joins us to talk about his strategies at Solera, the importance of networking and strategic partnerships, and why he left his father's company to build his own.
Solera focuses on building innovative, luxury communities that seniors truly want to live in - complete with food service, transportation, and engaging resident programs. Adam talks about why Solera's emphasis on retaining great talent within the company produces a better experience for employees and senior residents alike.
Adam and I also talk about the more technical aspects of his business, including his three-part approach to rapid growth. Adam also talks about the tenacity required by young entrepreneurs to overcome obstacles, and why meeting other professionals is essential to his strategy. We also touch on how he maintains balance among all the busyness in order to be a well-rounded father, CEO, and person.
BOOST Bonus: 18 Tricks to Make New Habits Stick
Today on The BOOST Podcast, I get to chat with serial entrepreneur Scott Moody! Scott has enjoyed an illustrious career as a tech genius in the startup world. Now, he’s combining his skills with a heart for serving an overlooked demographic as the CEO of K4Connect.
Scott was the CEO and Co-founder of AuthenTec, a leading provider of fingerprint sensor and security solutions. AuthenTec was eventually acquired by Apple. After swearing off startups, he took the plunge again by creating a mission-driven tech startup that focused on the needs of older adults and people living with disabilities. He recognized that technology solutions which help this population live an independent lifestyle were severely limited.
We talk about his approach to creating an encore career and why he felt compelled to return to the startup world after an inspiring encounter in Rwanda. Running a startup is a team effort and Scott shares his approach to finding the right team and cultivating an environment that produces results. Scott has a wealth of knowledge to share and a great perspective on how to help make the world a better place through mission-driven entrepreneurship.
BOOST Bonus: 5 Key Principles of Servant Leadership
Healthcare is deeply personal. We all know that. And projects and ventures that arise from personal experience are often accompanied by great passion, which can be wonderful. However, that intimate relationship with the healthcare system can produce some blind spots.
Unfortunately, I have witnessed first-hand how personal experience with the healthcare system has clouded some of my clients’ judgment and led to costly, if not catastrophic business decisions. I can’t even count the number of times digital health founders have described their venture to me in this manner:
I had a family member who had [fill in the blank] health issue…So I knew this was a problem and I had to find a solution. I hired some developers and we put together a Minimum Viable Product and with your help, we can get a pilot going in the next 3 months.
This usually leads me to ask a series of questions:
Shockingly, too many times, the answer to all four of these questions has been NO. And that is a huge red flag to me. Any founder that starts a business based solely on their own experience with one part of the healthcare system is taking on an inordinate amount of risk, far more than one should ever incur in any start-up venture.
While it’s great to be familiar and passionate about your solution, it’s even more important to do your due diligence. This includes the key activities of customer discovery and product/market fit.
Customer Discovery
Customer discovery is the process of identifying the customer that you are building a solution for. To do this effectively, you need to have a deep understanding of the problems this customer has and build your solution around solving their problems, not yours. You shouldn’t go out and build a solution and then look for a customer with a problem to sell it to.
During this phase, you should get to know your customers well enough to be able to develop detailed personas for each customer segment. These personas can have names and should include illustrative details that describe what they think, see, feel and do.
You can take the personas one step further and develop customer journey maps that illustrate a customer’s interaction from beginning to end for a certain experience. For example, a 65-year old with Type 2 diabetes may have a very different journey than a 15-year old recently diagnosed with Type 1 diabetes. Each of these customers require their own personas; understanding their unique journeys will help you create messaging, a solution and an experience that really resonates with each of them.
Your own experience with the healthcare system should still be an input in this customer discovery period, but it should not bias what you learn. If you don’t approach customer discovery with an open mind, ready to listen, then it is a wasted exercise. This exercise may validate your personal experience, but it may reveal that your experience is representative of just one of many customer segments. As a result, you need to understand which segments have the most pressing problems you can solve and how to prioritize the value you bring to the market.
Product/Market Fit Assessment
Another critical part of taking your experience with the healthcare system one step further is to learn about the broader market. In addition to considering your own experience, you need to understand how different stakeholders in the healthcare system work together and the interdependencies that cause decisions and actions to result a certain way.
I also recommend doing a market scan of your top 10-15 competitors in the space, so you understand exactly what they are offering, their business model, their footprint in the market, etc. This knowledge will help you identify any gaps in the market with existing offerings and help you craft a value proposition that is differentiated from the competitors.
Your personal experience with the healthcare system can undoubtedly be an asset when developing a digital health solution. But the individual lens through which we view something as personal as healthcare can quickly become a liability if it clouds our ability to execute an objective customer discovery process and product/market fit assessment.
Perhaps the most obvious changes that occur as we age are the physical and cognitive ones, the ones that keep us from doing things the way we always did in the past.
The PCAST report identifies the following technologies to help aging adults continue to live independently and safely despite age-related cognitive and physical changes:
Taken together, these technologies can have a tremendous impact on older adults’ ability to age in their home, while receiving quality care. While the private sector has a large role in advancing these technologies, the role of the government is equally important. The government can support private sector innovations by defining privacy and security standards, passing regulations to ensure that products and services actually provide their advertised benefits, and improving access to these technologies via payment reforms and other regulatory actions.
Most notably, the report makes the following recommendations for the government:
Much of the innovation and product development that supports aging in place takes place in the private sector. However, without government involvement it’s much harder to ensure that these technological innovations will actually provide meaningful enhancements to older adults’ quality of life as they age in place and their physical and cognitive abilities change. As a new administration takes over this January, it will be interesting to watch how and if the recommendations from the PCAST Report under President Obama are carried forth. Stay tuned…
As we age, it becomes harder to maintain our social connections. Families move, friendships change, loved ones pass away and we become less physically mobile. While this is not a new phenomenon, we have never had more technology at our fingertips to allow us to stay connected.
The PCAST report makes a number of recommendations for the federal government to enact policy changes that facilitate leveraging technology to increase social connectivity among older adults:
These policy suggestions are important, but even if we solved all the technology issues that prevent older adults from staying connected, they would still suffer from isolation and reduced social engagement – technology isn’t enough.
In addition to technological solutions and efforts designed to improve the technical literacy of older Americans, we need to find innovative, meaningful ways for their local communities to tap into their skills and expertise. Older adults are a huge resource for communities to build intergenerational bonds that allow them to pass on their expertise and wisdom from decades of experience to younger generations.
Technology is absolutely an enabler for older adults to have increased social engagement and sustained connectivity to their friends and family. But it should not be a substitute for face-to-face, in-person human interaction. In the future, the most innovative solutions and programs will use technology to facilitate more of these in-person connections and help them scale across communities around the nation.
COMING SOON: Part Four in the PCAST Series: Technologies to Support Cognitive and Physical Changes
Hearing loss is a complex topic that is tough to adequately capture in a blog post. Consider this post a primer on the key facts and associated regulatory and market issues as well as the barriers to consumer adoption of hearing loss solutions.
An October 2015 PCAST report on hearing loss laid out the following grim facts on hearing loss:
Innovation in the hearing industry – both for product features and business models – has been lacking. This is due to a number of factors:
There are a number of steps that the government and industry can take to improve treatment of hearing loss and adoption of hearing aids and devices.
In short, there are a number of complex societal, regulatory and market forces that make consumer adoption of accessible, affordable and attractive hearing solutions very challenging. It is time for the public and private sector to work together to do what is best for the consumer and address our nation’s growing hearing problem.
In March 2016, the President’s Council of Advisors on Science and Technology (PCAST) issued a Report to the President on Independence, Technology and Connection in Older Age. The report identifies four significant changes affecting older Americans and examines how technology and the government can play a role in supporting these changes.
1. Hearing Loss – 25% of adults between 60 and 69 years, 50%+ of adults 70-79 years, and almost 80% of those older than 80 experience hearing loss. That’s 30 million Americans affected today! Hearing loss is linked to other issues – increased social isolation, dementia, depression and risk of falls, and reduced ability to work, travel and be active.
2. Loss of Social Engagement and Connectivity – As people age and become less mobile, it can be increasingly challenging to maintain social connections. Technology has the potential to address this issue as seniors increasingly utilize the Internet, smartphones and other innovations, but adoption is uneven due to varying degrees of technical literacy as well as socio-economic barriers.
3. Cognitive Change – As we age, cognitive decline is inevitable. Not only can this create challenges for daily living, but it can also make older adults victims of financial fraud and exploitation.
4. Physical Change – Like cognitive decline, our bodies physically deteriorate as we age, causing other limitations both for aging in place and maintaining our health and quality of life.
PCAST provides 12 cross-cutting recommendations for the federal government to spur technological innovation to support aging challenges in these four areas. While the private sector is already tackling these issues, there have been less obvious synergies between private sector innovations and government programs supporting technology and aging. This series will address each of these four areas and examine PCAST’s recommendations and private sector innovations and how both stakeholders can work together to address these important issues on aging.
COMING SOON Part Two in the PCAST Series: Innovative Technologies and Disruptive Business Models in Hearing Loss
This past weekend, I had the pleasure of attending one of the unlikeliest reunion tours in rock history – Guns N’ Roses. I had high hopes for the show, but low expectations. The band was notorious for bad behavior – often starting late and sometimes abruptly ending shows early, even causing a riot in Montreal in 1992 when Axl Rose stormed off the stage after just a few songs. Moreover, the two main stars – Axl, 54, and Slash, 50, – had an infamous feud and had not shared a stage together for almost 25 years.
The tour was off to a shaky start, with Axl breaking his foot at his first show in Vegas in April. I was a bit skeptical if the tour would still be in existence when the Washington, D.C. concert rolled around in June. Thankfully, the show made it to D.C. and it was one of the best shows I have ever seen, surprising fans and critics alike.
Two days before seeing the show, I was in Silicon Valley attending The Boomer Venture Summit, a conference on aging and the Longevity Marketplace. With aging on the brain, I started thinking about how Axl’s performance was illustrative of so many stereotypes and perceptions people have about aging and what it means to be old and past your prime.
Not in This Lifetime
The Guns N’ Roses tour was so improbable they called it “Not in This Lifetime”. No one expected Axl and Slash to move on from their tumultuous past and play together. And there were doubts about whether they would even still be any good. These guys were old enough to be AARP Magazine cover stars.
This “not in this lifetime” mentality is something that persists as many people age. We start to believe that there is no way we could do that thing we used to be good at 25 years ago. Furthermore, society encourages this thinking by glorifying youth over encouraging thought around what our second act might be later in life. Axl can teach us all not to buy into this mentality. If Axl and Slash can play on a stage together for 40,000 fans and sound incredible after feuding for nearly a quarter century, then the rest of us can also feel inspired to continue doing the things we once loved as we age.
Fat Axl
Axl was a tremendous talent in his prime – he has been named one of the greatest singers of all time by Rolling Stone and would’ve been inducted into the Rock and Roll Hall of Fame, had he not turned it down. Guns N’ Roses’s recent concert proves Axl still IS a tremendous talent – his voice still has impressive range and his performance was fun and energetic.
Despite having his voice and signature dance moves in tact (the Snake Dance!), numerous memes, articles and Facebook posts ridiculed his bloated appearance while simultaneously praising his surprisingly successful performance. Just among my friends, I saw emails and social media posts saying “Fat Axl rocks” and “Long live Fat Axl.” No one is more horrified from these images and posts than Axl himself – he’s even trying to get unflattering pictures of him removed from the Internet.
Axl, like the rest of us, is not immune to the ravages of time, despite all the resources at his disposal. The ridicule he has faced for his looks and weight gain, despite his remarkable, enduring talent, is all too common in American society. Unfortunately, society places so much value on youth and beauty that we end up disrespecting older adults rather than celebrating and honoring them for their accomplishments and continued vitality. Axl is no exception.
The Second Time Around
Typically, most rock ‘n’ roll bands hit their peak when they are younger. It’s hard to keep up the energy, looks and talent through decades of hard living. That makes what Guns N’ Roses did even more special – they made it look better the second time around.
Compared to their youth, where they were unpredictable and difficult, they seemed to be running a well-organized tour. They were prompt and played for nearly three hours and seemed to genuinely be having fun.
With age comes wisdom and maturity that can make reviving something from your past even better than it originally was. Let this be a warning to people who tell themselves they are too old to do something – it may not be the same as it was the first time, it may be even better.
Gen X Who?
Gen X, also considered America’s neglected middle child (and my cohort) is often overlooked by marketers and, well, pretty much everyone. Gen X is significantly smaller than the two generations it sits in between – Millennials and Baby Boomers.
Yet Axl and Guns N’ Roses demonstrate that Gen X is big enough to matter (and can fill up stadiums). Gen X is the primary audience for Guns N’ Roses and other 80s hair bands, 90s grunge and early rap. They also have other distinct tastes beyond music, as well as a higher median income than their parents did at their age. So the lesson here is Gen X still matters – even if we aren’t as big as the generations that surround us.
The Takeaway
While Axl seems like an improbable guru on aging, he can teach us all a few things – never say never, appreciate talent over beauty, reunions can be better than the original and Gen X matters. As he said in 1991 on Dead Horse from Use Your Illusion I:
I met an old cowboy
I saw the look in his eyes
Somethin' tells me he's been here before
'Cause experience makes you wise
Thinking about offering caregiver benefits to your employees, but don’t know where to start? Here are four benefits that can help your employees manage the stress, complexity and emotional and financial burden associated with caring for their loved ones.
1. Employee Support Groups – As caregivers struggle to balance their career, families and other responsibilities with the task of caring for their loved ones, they often ignore their own needs, particularly around their mental and emotional health and well-being. Providing a support group where employees can talk to other caregivers can be very therapeutic and offers a healthy release from their daily stressors. These groups can also serve as a venue to share information and best practices that can help caregivers navigate a complex and fragmented ecosystem.
2. Aggregated Local Resources – Nearly 85% of caregivers report wanting more caregiving resources. Unfortunately, these resources and information for caregivers are extremely fragmented. Additionally, many resources are at the local level, which can make it particularly challenging for caregivers who are providing care from a distance. Organizations can provide great value to caregivers by aggregating local resources into existing EAP programs and including referrals to caregiver resources in the community.
3. Discounted Products and Services – Caregivers often experience additional financial stress when caring for their loved ones and can benefit from discounts on caregiving-related services, including meal delivery, transportation, in-home paid caregiving, medication adherence and telehealth services.
4. Specialized 401K/Savings Plans – Many people do not adequately save for acute or chronic health problems that require caregiver support. As a result, many caregivers and their loved ones face financial burdens that they did not anticipate. Company 401K plans and advisors can provide retirement options geared towards caregivers, taking into consideration the often unexpected role that caregivers take on during their peak earning years.
There are nearly 44 million caregivers in the U.S., the majority of who are also employed. The typical caregiver is a female in her late 40s providing nearly 25 hours of care per week to her mother, for an average of 4 years (men are also increasingly taking on caregiver responsibilities).
Not surprisingly, family caregivers carry a heavy burden as they try to balance their careers and their own families with the demands of caring for their loved ones. This can have serious health, financial, emotional and professional consequences for the caregiver.
Employers are also impacted by caregiving; on average, they lose more than $2,000 per year for each employee who is a caregiver. This loss is attributed to the costs associated with replacing employees, absenteeism, workday distractions, and a reduction in hours. Employers have an opportunity to play a significant role in easing caregivers’ burden through benefits tailored to their unique circumstances.
Here are 5 reasons employers should offer benefits to caregivers:
1. Attract and Retain Women – Since the majority of caregivers are women, benefits designed for this group can help companies attract and retain women or those workers who are looking for a family-friendly work environment. This can be an important differentiator in competitive industries like consulting, law and finance, where careers are particularly demanding and women may exit the workforce or defer a promotion, believing that they would not be able to juggle intense work demands with family responsibilities.
2. Reduce Health Insurance Costs – Caregivers often experience great stress and neglect their own physical and emotional health when caring for their loved ones, leading to increased healthcare costs. According to a MetLife study, employers paid approximately 8% more for the health care of caregiver employees compared to non-caregivers, potentially costing U.S. businesses $13.4 billion per year. By offering benefits that enable caregivers’ to more easily care for their loved ones, companies are helping caregivers take better care of themselves, which can lead to better health outcomes and lower costs.
3. Increase Productivity and Reduce Absenteeism – U.S. businesses lose up to an estimated $33.6B per year in lost productivity from full-time working caregivers. By providing access to resources, support and other benefits, employers can make it easier for caregivers to find services and solutions for their loved ones and, in turn, gain peace of mind that allows them to be more focused on their jobs.
4. Prevent Talent Drain – Some caregivers find that working and caring for their loved ones is just too much. Nearly 20% of employees leave the workforce earlier than planned to care for a family member. Many of these employees are mid- to senior-level professionals in the prime of their career, which can leave big gaps for employers to fill. Providing additional support and resources for caregivers can prevent early retirements.
5. Promote a Culture of Diversity and Inclusion – As companies increasingly look to differentiate themselves as employers of choice and brand themselves as innovators, they need to develop a diverse workforce comprised of different cultures, genders, races and viewpoints. Providing benefits to caregivers should be part of an overall inclusion strategy to attract and maintain a diverse workforce.
COMING SOON Part Two in the Caregivers in the Workplace Series: 4 Caregiver Benefits Employers Should Promote
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