Market Overview for Technology for Aging in Place

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home health care

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.


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:

So wrong: Japan’s hope for the tech-enabled and robotic aging life

Remember the Cyberdine demo of HAL at ASA some years ago? The Hybrid Assistive Limb (HAL) was designed by a venture firm in Japan to help a wheelchair-bound individual stand and move. It was very cool. It was priced at that time (2009) at around $5000. By 2014, the device could be rented for the equivalent of $1400/month. And now it has again been modified. This time, according to the WSJ article about Japanese demographics, the country needs its older laborers to work substantially longer. So a 67-year-old worker in the construction industry can stack wood just like someone half his age. Yay. And then there is the charming Pepper robot, selling for an equivalent of $1600, leading recreational activities in senior housing, charming the residents. In Japan, 13% of the population is 75+, and in another statistic, 15% of the 'elderly' population has dementia.

Caregiving technology needs a version 2.0 upgrade

The dilemma of distance -- boomers have parents who live in, for example, Florida. The oldest boomer is 69. They’re not all that healthy. The still-living parent(s) may be even less healthy. In this age of medical specialization and long distance families, many aging women living alone: they need to see doctors, perhaps multiple doctors. Even if the children of aging parents live nearby, experiencing enhanced intergenerational proximity (!), the aging parent may ultimately live alone. With life expectancy for woman now averaging 88+, it is safe to say that older boomers are still involved in coordinating the care of their aging parent/mother. And they’re doing it from a distance – since the boomer woman with a career may not reside in Florida. Consider that Florida is now on track to become the 3rd largest state – with population growth primarily from migration. The state now has a median age of 74 for its 65+ population, one-quarter of that population widowed. But the dilemma of distance criss-crosses the country from California to Maine, from upstate New York to New Mexico.

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