Market Overview for Technology for Aging in Place

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aging in place

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aging in place

What’s old has become new again – the halo of aging in place

Henry Cisneros discovers aging in place.  In August, 2012, Kaiser Health News published an interview with former HUD Secretary, Henry Cisneros, who talked about his mother who is aging in place, following some well-considered home modifications. Cisneros also edited a book, Independent for Life – and just published an op-ed in the Miami Herald discussing this new frontier in housing, using his own mother as an example. Home modifications enabled her to remain in her home -- she insisted and he was apparently too cowardly to argue. She is described as widowed, 87 years old, requiring an alarm system, her home in a "neighborhood somewhat in decline." Her neighbors on three sides had passed away, and he admits that even though he visits her frequently (every other day, come on, now really???): "Aging in place in that neighborhood means older women living on their own." Looking ahead: he could have noted that one-third of the 90+ live alone – and while aging in place sounds pretty good, one must pause and remember life expectancy and personal expectation – half of the 65+ today expect to live to 90. And they're right. If a woman lives to 65, she is likely to live to 85. But by age 90, there is an equal likelihood of each of these scenarios: she will live alone, or with her relatives, or in some type of institution.  

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Age is a number, longevity is irrefutable, but not for AARP

MetLife study pegs older at 40.  Down it goes. No, that’s not the value of the dollar. It’s the line at which 'mature' markets and older adults are segmented and studied in this doom-and-gloom study. The latest from MetLife -- On the Critical List – mulls the impact of obesity and the rise of chronic disease among the 40+ population, but on page 9, it’s coughing up a technology to promote independence – you guessed it, the Personal Emergency Response System (PERS). Sure. Meanwhile, on the other end of the demographic dial, we find an impressive rise in a population living to 90 and beyond. Now the fastest growing group in the older population, some suggest that a change in the definition of the oldest be moved from 85 to 90.  And life expectancy continues to rise among those who might have the money to buy goods and services, creating a viable target markets for sellers of goods and services.

Does the aging services vision need a transformational overhaul?

Aging in Chicago – a confluence of committed professionals. Another year older, and again, Aging in America is over. Large non-profits, social services staffs, senior center leaders, nurses, senior housing execs, health insurance companies, councils on aging -- not to mention a gaggle of consultants and experts -- were there. More than 700 sessions were listed, visions for a better aging life were communicated, networking was had, training was held and CEUs were obtained.  All of these laudable folk are in professions that are committed to helping older adults – in fact, many of them were clearly older adults themselves – people who serve, but may also need services. We heard visions of retirement reinvented to last 30 more years and new research identifying criteria for evaluating a city’s livability for older adults.  And much more, a lot of it CEU-eligible. But did attendees learn anything new?

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