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Boomer-Senior Tech Business

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Boomer-Senior Tech Business

Five technology and health blogs from March 2020

The world is spinning from the events of March 2020. At the beginning of the month, it made sense to publish a Market Overview about tech for older adults that did not link all tech to Covid-19, and by the end of the month every single news item, announced business initiative, investor prediction, startup messaging, university project, and technology topic was only about Covid-19. It’s almost quaint to look at where the month began since publishing the 2020 Market Overview of Technology for Aging on March 5. The technologies noted are as relevant today as they were on March 5 – however, their application as the list of press releases notes, may be different. Telehealth is suddenly as critical as it always should have been. Smart home (and enablement of remote interactions matters more than it ever has.) From the month:

Telehealth, HIPAA compliance and innovation tracking

The coronavirus pandemic has prompted instant behavior and tech changes.  And not just about hand washing and social distancing.  For the past two days, it’s apparent that the seemingly forever slow growth of telehealth adoption has entered a new, “When can I have that? Yesterday?” phase.   This applies to caring for and treating the 2.5 million in senior living communities, including nursing homes. Some senior living providers have been ahead of the game for some time with telehealth, like Asbury Communities and Holiday Retirement -- offering services for residents at times when physicians cannot be on site. But the interest and use of telehealth in senior living has been accelerating since April 2019, when Medicare Advantage plans began covering it. And further, when senior living companies were enabled to provide their own Medicare advantage plans, that piqued more interest in telehealth.  All that's left is to install the connectivity to make it effective.

Innovative offerings from 2020 (virtual) HIMSS

HIMSS was canceled – but the briefings went on to shed a light on what’s new.  When a conference of the scale of the largest annual health IT event HIMSS (possible attendance of 45,000 compared to 2019) is canceled, it sends shudders through the world of the entrepreneurs and providers they wanted to meet, solving thorny care delivery problems, finding customers and partners, gaining visibility to unusual and compelling solutions. And it created a big challenge for the multiple PR firms engaged to help create that visibility to innovation in care. Following cancellation, phone calls replaced nearly all 10 scheduled in-person meetings. In addition, HIMSS is in the process of arranging a digital version of HIMSS. In the meantime, Here are some of their updates, in alphabetical order:

2020 - What about those Ten Tips for Launching a Product? A Recap

Today or soon you will launch a boomer/senior, home health tech product or service, or maybe a caregiver advisory service.  As your company gets ready to travel into battle or a booth with the sound of pitches all around, it is time to for you to revisit this guidance. Perhaps sometime soon, your new or existing company will officially launch a new product or service, or perhaps a long-awaited, over-described and much-anticipated offering will finally ship. First read existing content and research reports on your particular market segment.  Look over this updated checklist that continues to hold true – with updated links and references. If necessary, refine tactics:

VitalTech Acquires Breezie

02/19/2020

VitalTech, a market leader in connected care, digital health and remote patient monitoring, announced today that it will be expanding the breadth of its existing services with the acquisition of Breezie™, a multitiered tablet-based platform that drives senior engagement and compliance.

Where is the detailed survey of older people?

AARP recently published several new reports -- all worth a read.  Rant on. The survey reports, about the 50+ gamers and 50+ tech trends, each identify an age band of the 70+, something AARP began a few years ago and kudos to them, that banding continues among some of their research reports.  Not so the Longevity Economy Outlook, which lumps the wealth of the population for those aged 50-100, but no breakout was offered about the spending potential for the population at the higher end of the age bands. From an economic standpoint -- what will they (or their families) spend money on, how is their health, what is the cost of their care, where do they live? Who knows?

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