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Market Overview for Technology for Aging in Place

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Boomer-Senior Tech Business

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Boomer-Senior Tech Business

Aging in Place Technology Watch November 2010 Newsletter

Two tin cans and a wire -- is that common sense?  Over the hopping month of November, we learned that 500 million people will be using mHealth (mobile Health, sometimes also called wireless health and telehealth) by 2015.  But wait -- not so fast. Then came the wet blanket study from Yale -- the NY Times article described the 'disappointing results' with remote monitoring efficacy. The article quoted Eric Dishman, who "noted that the monitoring system in the Yale study relied on the patients to phone in their daily results. Many failed to do so."  So what the Yale study proved is that the use of technology with a bad process produces a disappointing result.  No kidding.  And because it was in the New England Journal of Medicine and written up in the NY Times, no doubt initiatives that are underway to extend deployment of remote monitoring of chronic disease will now be hobbled into re-justifying and explaining why their study is different, that their results (like the Veteran's Administration) are positive, blah, blah. That their forward motion is based on automatic transmission of results, automatic analysis of exceptions to baseline status, and a phone call TO the patient from a nurse. That after three months, more than 55% would still be participating because they received a benefit from being part of the study.  Now that would show common sense.

Silvers Summit and AgeTek Combine Expertise; Hosts Workshop on the Coming Silver Tsunami

11/23/2010


World’s leading aging-focused technology consortium and conference educates companies of the value of creating products and services for today’s aging society

Excuses, excuses: overcoming barriers to adoption

Geriatric care managers are cautious and waiting. (Warning: rant on). Last week I spoke about technology for aging in place to a room full of New England geriatric care managers (and a few home care agencies and senior housing folks as well).  When I talked about technology, particularly remote monitoring, filling the gap in hours covered by home care aides, they enthusiastically nodded in agreement. But when I ask if any are using this technology, I heard about interest, curiosity and upcoming pilot programs (no vendors picked yet), and the like. Ditto with the home care agencies represented in the exhibit area. What I didn't hear about -- confident or near-term likelihood of advocacy of a specific product.

Boomers, seniors, and tech: is this really the best of times?

The first boomers are about to turn senior.  One might think that the excitement of the first boomer turning 65 in January would have waited a few weeks closer to January, but silly me. So one boomer will turn 65 every 8 seconds starting in January. Is it the beginning of one of society's great tragic periods -- too few jobs, dwindling public funds for safety nets, declining health, and a fundamental recasting of the societal dependency ratio (see WSJ article)? Or will it be the beginning of a long and joyous 'senior boomer' or 'booming senior' marketing marathon that rises and then slowly ebbs over 30 or 40 years when the 46-year-olds run out of money and steam? Your perspective may vary: it matters whether you make a product for an aging population but want to move the age downward and broaden the appeal (see GreatCall). Or whether the opposite is true and you're Toyota and want to create a vehicle that will tackle problems of aging head on (no pun in tended). Or whether you're in a complex senior-focused market, like MetLife and long-term care insurance, where the economics of longevity and the recession have both shrunk the target buying audience and made the cost of claims untenable.

ORCATECH Pilot Grant Programs for 2011-2012

11/08/2010

The Oregon Center for Aging & Technology (ORCATECH) offers annual pilot funding opportunities to improve technology and translate that technology into useful tools to improve health and maintain independence in our aging population. ORCATECH focuses on two key reasons for loss of independence among the elderly: decline in cognitive function and decline in mobility. Several areas of related focus are encouraged for this request, but applications are not limited.  Up to three projects will be funded at $50,000, with additional indirect costs.

Ten tips for launching a new product or service

So you want to launch a boomer/senior, home health tech, etc product or service.  It's getting to be that time of year for launches and the press that accompanies them. This year, as always there are many vendors that have or will have new products and services or enhanced capabilities -- and want to get attention, prowling the vast aisles of the Consumer Electronics Show (CES) in Las Vegas in search of possible channel partners, media attention and a list of who is in their space. In conjunction with that event, perhaps they will 'officially' launch. Or perhaps an existing company will officially launch a new product or service. Here is a checklist as derived from recent encounters and discussions:

Sheridan Elder Research Centre in Canada receives $2.3 million aging tech grant from NSERC

10/20/2010

OAKVILLE, ON, Oct. 20 /CNW/ - The Sheridan Elder Research Centre (SERC) has been awarded $2.3 million over five years through the College and Community Innovation (CCI) Program, an initiative of the federal government.  The award-winning project is titled "Aging in Place:  Optimizing Health Outcomes through Technology, Design and Social Innovation" and will focus on enhancing the quality of life of older Canadians and their families. 

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