Family caregivers

You see it in the media and hear about it with investors.  Digital Health is in its bubble of $8.1 billion in 2018,  which amounted to 8.6 % of VC investments, despite limited exit strategies – but investors love it.    Startups focused on the aging/technology space, however, receive only 0.7% of venture capital investment, including the big money ($115 million to date) that has gone to just one company.  (And that company is quietly pivoting to become a home care consolidator/platform company).  Meanwhile, over at the $30 billion (2018) home care market, a worsening shortage of workers in the midst of demand growth, is creating a recruiting near-panic among agencies, senior living firms and families, and produced.

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.

Once upon a time, in a language far, far away…We used terms like long distance, remote, and telepresence to describe services and experiences that were taking place somewhere else. We were guided on how to cope with these remote processes where we were not present to manage or experience. And for the care recipients being managed, they were unable to communicate problems in their on-site, 'real' experience. Consider dementia care and the still-startling lack of cameras in these settings – despite family willingness to pay. These limitations seem so yesterday.  Even a telepresence player like Beam threw in the towel and refers to the world it now navigates as ‘virtual.’   Let's take a longer look into this virtual world as it relates to care of older adults and consider such offerings as: