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San Francisco March 28, 2018

 

Market Overview for Technology for Aging in Place

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iHealthHome Launches Innovative Care Planning Tool to Enable Seniors to Thrive at Home

11/08/2017

Software vendor iHealthHome announced today a major release of their Interactive Plan of Care solution that empowers professional Care Managers with the digital tools they need to coordinate care and leverage in-home technologies that help seniors stay healthy and independent at home.

Five technology offerings for older adults from Connected Health Boston 2017

An event for health tech vendors to reach other health tech vendors.  This event is an odd mix of technology service providers, health tech vendors (multiple categories), and startups looking to engage from a business partnership, channel, or solution set perspective. The event was preceded earlier in the year with a post about the Top Five Tech Trends in Healthy Longevity which include: Virtual Assistants, Virtual Coaching for Chronic Conditions, Caregiver Apps and Social Networks, Social Robots, and Virtual Reality.  And there were a number of exhibitors at the event that reinforced that trend list – some noted in previous blog posts.

Finding Paid Care -- Introducing the Paid Caregiver Support Ratio (pCSR)

Shortage of paid care workers – a growing problem, not well-quantified by region.  As AARP predicted in 2013, by the time the boomers arrive in their 80’s, just nine years from now, there would be a population deficit of prospective care providers aged 46-64 – the caregiver support ratio (CSR). But perhaps the more intriguing question – where are the workers who could, should, or would provide care? In a study released in December 2015, the U.S. Bureau of Labor Statistics (BLS) stated that the compound annual growth rate for home care services, particularly personal care aides, between 2014 and 2024 would be nearly five percent, the highest among all industries. Compare the number of workers that provide direct care ( for example, personal care aides) to retail – these jobs are low-paying at approximately $11/hour and most would say the work is physically more difficult than other low-paying categories.  And tech-enabling the care, while streamlining sourcing and tracking, does not close the available labor gap.

Six technology-enabled innovations for older adults from 2016

Tech announcements spew forth, fast and furiously – but most do not help older adults.  Stay tuned and hopeful if you can, to the hundreds of announcements that will pour forth in the coming weeks from CES 2017 – hopefully a number of them focused on or at least interested in the care and/or services related to an aging population – and yes, according to the CDC, if one lives to age 65, life expectancy is unchanged. In the meantime, let’s reflect on 2016, which saw the rise in awareness of future caregiver shortages, shortages in family time, but not shortages in investor money:

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