AgeTech

We are a society that loves rankings. But sometimes they just seem plain silly. Not long ago, the World Health Organization published a guide to Age-Friendly Cities – and surprise, there was New York City! Services, public transportation, technology galore – despite the crushing crowds on the street, eye-popping apartment rents and tough-as-nails subway riders – if you live there and you're growing old, you can do fine, says the WHO. Okay. So now we have the Milken Institute (a West Coast think tank) study about the 10 best cities where we can age successfully, and it’s much-publicized and picked up in the media, for its, uh, surprising, result. Factoring in affordability (!), weather, convenient transportation systems, aging-centered technology, there it was again – New York City, and now -- Boston is # 4!  For cities that are named on these lists, of course that means positive PR for city managers. Hear applause all around among the town marketers (see, there’s our town, Provo, Utah!!!). In the meantime, Louisville, KY, staking its future as a hub of age-related businesses and opportunity, ranked only 69 on the Milken scale.

The product user interface of today can madden the seniors of tomorrow.  I am looking at the console of a Volvo right now. Mulling over the SOURCE/Push Scan knob -- turn it to switch from FM to AM, PUSH it to SCAN the channels, PUSH again to stop scanning.  This is an eight-year-old car, and it took most of the first few years of perusing the owner’s manual to figure out how to use the radio (PTY, TP, NEWS buttons I’ve left untouched). But brand new cars have achieved a new level. Just starting up a newer car -- never mind the radio -- requires a long training session, watching the sales rep, taking notes. For one car expert I know, it was not clear how to get a brand new, automatic transmission BMW out of PARK -- without instruction. 

Senior housing organizations want to accelerate development and adoption. Reading an interview with Majd Alwan, SVP and Executive Director of Leading Age’s CAST group, you would believe that we are on the cusp of widespread adoption of technology for older adults in the senior housing: Says Majd: "CAST brings developers—big ones like Phillips and Intel-GE Care Innovations, all the way to small start-ups—together with forward thinking and pioneering service providers who understand the value of technology and are exploring technology-enabled care models and implementing them in their communities, and researchers."

Don’t see the products your constituents need? Launch a fund to get them created. Sometimes organizations become frustrated with the pace of change and decide to do something about it. One of those is Link-age in Mason, Ohio, a group purchasing organization that buys on behalf of 450 senior living communities in 39 states. The organization, led by CEO Scott Collins, is launching a $20 million ‘gray’ national fund to accelerate creation of products and services for seniors. Local investment banker, John Hopper, managing director of the new Link-age Ventures (partnered with CincyTech), rightly observes: "We haven’t bumped into anyone else in the industry doing anything similar." Says Collins: "Entrepreneurs are eager to address the market, but few understand the needs."  The investors will make money when the companies are sold – which they surely will be if they do find new and innovative ways to address, as Scott Collins indicates, the food, shelter, transportation and socialization needs of older adults -- well beyond the boomer age ranges of 48 to 66.