Market Overview for Technology for Aging in Place

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Five New Technology Offerings for Aging in Place - Feb 2016

Consider this a heads up about new technology-enabled options for older adults.  Sometimes it is helpful to know about offerings before or just as they are being released, if only to look for their availability in the future.  The five interesting offerings that are noted below are all going to be available within the next six months, possibly sooner.  Each in its own way strives to solve a problem experienced by older adults or those who serve them:

Technology for dementia care needs more innovation in 2016

 With so much digital health talent and money in Silicon Valley, little aims at dementia.  Is it because the consumer doesn’t complain enough in surveys? Let’s face it, most tech for dementia care is stunningly rudimentary, consisting of (at best) warn and lock doors, cameras to watch for wandering, and if the residents are lucky enough – engagement technologies (like SingFit or iNTL) may be deployed or are at least being considered. If there are 2.5 million people in the US living in Nursing Homes and Assisted Living, more than 50% of them have some dementia. (My opinion – it is much higher than that.)  The rest of the 5.3 million who have some sort of dementia are still living at home.

Health tech and the Aging-Related Technology Boomlet-to-be

Digital Health became Health IT when you weren’t looking.  Even as most caregivers become reliant on online information in 2016, the sources of that information are migrating their way to Health Tech, so says MobilHealth News. And just in time, as the funding bubbles appear to be bursting in later stages, reliability of some wearables has been questioned, and the information disclosed to third parties (like insurance or health-related companies) may not be well understood by the consumer.  

Taking Shape: The 2016 Market Overview of Technology for Aging in Place

Six years ago, you had to make the case for tech. Why was it useful to describe a market of technology that could help people live longer in their homes?  It was necessary to justify this lens with demographic projections, costs of aging somewhere else, how many wanted to stay in their homes – and then, only then – start describing enabling technologies that could help facilitate their own or family member’s successful aging at home.  The tech market was filled with passionate founders and niche, senior-focused products. That was then.

Honor™ To Make Caregivers Employees With Benefits

01/21/2016

SAN FRANCISCO, Jan. 21, 2016 /PRNewswire/ -- Honor™ (www.JoinHonor.com), the leader in high-quality home care for older adults, today announced a major shift to empower its home care professional workforce. They will now become employees, eligible for benefits—and stock options. This move will enable Honor Care Professionals to provide even better service to Honor's customers.


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Event Showcases Technology’s Power to Transform Home Care

01/11/2016

The Home Health Technology Summit will take place March 13-15 at the Hotel Monteleone in New Orleans, offering tailored education on the technologies that homecare providers can leverage to transform business and care.


From PERS to remote patient monitoring to telehealth, technology has the potential to make homecare providers a differentiator in post-acute care.


Hometeam Accelerates Tech and Care Services Offering with $27.5 Million In Series B Round Funding

01/06/2016

New York, New York (January 4, 2016) – Hometeam, a new approach to home care which brings more independence, joy and vibrancy to older adults — and peace of mind to families, today announced it has secured $27.5M in a Series B funding round. Oak HC/FT, a leading venture-growth equity fund investing in Healthcare Services technology companies, joins existing investors Lux Capital, IA Ventures and Recruit Strategic Partners in this funding round which will directly enable the company to accelerate its medical and technology development.


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Five key trends driving 2016 technology for older adults

A look back to look forward.  Consider the context for 2016 innovation, despite (or as a result of) a still-erratic economy, and smaller-cheaper-better base technologies. At the same time, the assisted living industry watches residential age climbing – over half now are 85+. So the desire (or perhaps the only option) to age at home has further intensified. That has created opportunities like the AARP and Leading Age funds; research initiatives like Baycrest and Philips AgingWell; and startup pitch events like Louisville Innovation Summit, or Aging 2.0. Based on looking back at 2015, here then are five categories of trends for 2016:

What mattered -- blog posts in aging and technology in 2015

2015 was an intriguing year for technology and aging. The market opportunity has become more apparent, as the oldest boomers reached aged 69.  Just for instance: there were multiple age-related fund launches; home care with tech underpinnings began to attract the lemming-like VCs; PERS offerings began to be integrated; speaking to devices (not typing) became increasingly possible; smartphones became tablet alternatives; senior housing organizations attempted re-branding of their offerings, likely to better match boomerdom. As we get closer to 2016 and summarizing key forward-looking trends, consider blog posts from 2015.

FirstLight HomeCare Posts $52 Million in Gross Revenues During 2015

12/14/2015

CINCINNATI, Ohio. – Dec. 14, 2015 FirstLight HomeCare, provider of quality, affordable, non-medical in-home care for adults, announced its 2015 earnings as $52 Million, a 98 percent increase over 2014 revenues.


 

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