Market Overview for Technology for Aging in Place

Meet or hear Laurie in one of the following:

InsureTech, Washington, DC, May 30, 2019

Silicon Valley Boomer Venture Summit, June 6, 2019

DC Longevity Summit, December, 2019

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March 2019

It’s time for cameras – nursing homes, assisted living, and home care

Where the baby (or elderly family member) may be.  The WSJ investigation of Care.com has only added a level of urgency about the risky business of finding and placing caregivers in homes. Consider the Care.com CEO’s egregious assertion that "Care.com is a marketplace platform, like Indeed or LinkedIn."  Really, finding someone to watch your baby or your aging father is analogous to finding a worker to fill a job opening in your IT department or seeking a manager to fill out your org chart? And having nasty problems with convicted criminals taking on caregiving roles, with deaths occurring in multiple states, but never aggregated into a nationwide picture of a horror show, until research into incidents was done by a Stanford MBA student? Read that link, please.

Ideas from White House's Technology to Support Aging Adults

Technology and aging R&D – who knew about this task force?  Maybe you were also surprised to see this government report posted last week -- Emerging Technologies to Support an Aging Population.  Of course the aging of the baby boomers (oldest are age 73) is on the minds of lots of businesses and government groups, for various reasons.  Some see a market opportunity in services (home care, home health care, home remodeling).  Some see product sale growth of items (like DME equipment) for an aging population.  Some see housing opportunities or changes to make age-friendlier communities, and some see looming health costs associated with the 50 million individuals now aged 65+. It was a surprise, though, to see this White House report last week, and even more of a surprise to read what’s in it.

Focus on Technology for Older Adults Sharpens in 2019

2019 Technology Market Overview is online this week. When assembling the 2019 tenth anniversary version, it was apparent that this year reflects change -- in the supply-demand balance in the overbuilt senior housing market, in policy changes driving health care services into the home, in market forecasts, and in the mix of vendors who serve the market.   It's in many ways a good-news/bad-news story.  Awareness is growing about an aging demographic, working longer and with longer life expectancy than previous generations.  At the same time, the technology market continues to expand in complexity, privacy and interoperability issues, while not effectively lowering cost of access or prices of useful devices -- and not necessarily boosting the availability of training on their benefits or use.  Here are four updated premises from the 2019 Market Overview of Technology for Older Adults: