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2024 What's Next Longevity Venture Summit (online)

2024 Longevity Venture Summit (DC)

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Home Care

Always Best Care Senior Services Introduces 24/7 Virtual Care Agent

05/26/2023

ROSEVILLE, California— Always Best Care Senior Services, one of the leading senior care franchise systems in the United States, announced the launch of a 24/7 artificial intelligence (AI) virtual care agent available to its franchisees nationwide. This audio-based AI technology developed specifically for in-home non-medical care environments analyzes physical, cognitive and emotional events and trends around-the-clock, providing data-based insights and recommendations on the health and safety of Always Best Care clients.  

Chatbots and conversational AI offer help with finding care

Chatbots can be helpful to older adults and families. As part of research on the Future of AI and Older Adults, interviewees are talking about the potential role of chatbots – and why they should matter. Not surprisingly, a search for ‘chatbots and older adults’ reveals research studies targeting those aged 60+, startup investment, for example, Lena, which evolved into Lena Health for scheduling appointments, and a small study about what makes a compelling chatbot. But for older adults  or families who hesitant about searching for information or frustrated with online sites or call trees, chatbots can be the ideal solution. They can also boost tech confidence and user self-sufficiency. Although the real purpose of chatbots is to save response center labor and boost efficiency – they should help the user get what they need.

Honor Leads Programming on the Future of Aging at SXSW 2023

03/09/2023

SAN FRANCISCO--(BUSINESS WIRE)--Honor Technology, Inc., the world's largest home care network for older adults with the most-advanced Care Platform technology, today announced that executives will be leading three panel discussions at South by Southwest (SXSW) 2023 in Austin, Texas. Set for March 11 as part of the SXSW 2023 Health & MedTech Track, the panels will explore a variety of topics touching on the need for infrastructure and communities to support seniors aging in place and the technology and investment opportunities.

Did you miss one? Check out September’s Aging & Health Tech blog posts

September brings falling leaves, rising and falling hopes. Turns out that VCs are waking up to the opportunity in the longevity economy. Recognizing that people may live a lot longer, perhaps even to 100. How do you prepare for such a long life? Behold the rise of the active adult lifestyle, now enabled with a boom in 55+ rental communities. Combine that change with the ‘Forgotten Middle Market’ of senior living. Consider the Chicago Tribune article about tech for aging in place. Now add in the shortage of workers in home care, health care, and nursing homes. If there was a time to look at the role of monitoring and engagement technologies that augment and assist the worker in the care of older adults – it would seem that this is the time. Here are four Sept blog posts on these and related topics:

Will robots help us in our homes – now and within 10 years?

Context matters: consider the likely status of people in 10 years. It makes you think. Asked this question recently and pondered. What will be the context at that time? A decade from now, the oldest baby boomers will be 86. Women will outlive men by a few years – living on average into their late 80s. They may be solo agers – no children, spouse or partner. They may struggle financially – including the 15% of women who rely primarily on Social Security income.  By 2030, 20% of the US population will be over the age of 65 -- and likely to be obese and living for at least 8 years with some level of disability. The demand for home care workers will grow by at least by 37%.  According to PHI analysis, the job pays so poorly today that 40% live in low-income households and 43% rely on public assistance.  Put all that together and at least the concept of helpful robots sounds pretty good.

CENSUS: Senior care growth means tech change will be mandatory

The Census knows the growth and potential explosion of care needs and older adults. Consider their newly published document explaining the industries to those who may still not see what’s happening. "Assisted Living Facilities for the Elderly saw a 34.4% increase in revenue from 2013 to 2020.  Home Health Care Services experienced an even larger increase – 50.5% -- during the same period." These assertions are built on the Service Annual Survey (2021).   The U.S. Census Bureau projects that in 2050, the U.S. population ages 65 and over will be 83.9 million, nearly double what it was (43.1 million) in 2012.

It’s 2022 – has technology use progressed in senior care?

There is a labor shortage everywhere -- ditto in senior care. We know that one of the biggest issues in senior living (and home care, nursing homes, home health care) today is a shortage of labor. This roll-up of statistics shows more than 400,000 employees lost between 2020 and 2022, with long-term care facilities (aka nursing homes) being the most impacted. There is quite a bit of chatter in long-term care publications about the need for more technology use, and providers are asked to offer best examples of tech use to win an award (separate categories for senior living, home care, and skilled nursing) at the upcoming Leading Age event in October. Remember that memory care is a sub-category within both senior living (aka assisted living) and skilled nursing facilities (aka SNFs).

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