Market Overview for Technology for Aging in Place

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Six new tech-enabled housing concepts for older adults

The future of housing for seniors – or the future of senior housing? Innovators are approaching the tech-enabled future of homes for seniors from multiple directions – support for people with dementia, new approaches to tech in a senior housing campus, new systems for aging at home, and new kinds of age-friendly housing. Innovation is sorely needed -- considering that current approaches to senior housing, whether in assisted living (too expensive) or age-segregated communities (too isolated and/or risky) may not be right for everyone.  Here are some other recently noted housing approaches, material is from sites or news:

ComfortLife.ca Publishes Retirement Homes Checklist Resource

07/03/2016

Mississauga, ON – Our Kids Media™ has added to its series of eBooks, with a simple straightforward Retirement Home Checklist, available as a webpage or as a PDF that users can print off and use as needed. The checklist is five pages of questions and notes for seniors and families to consider as they tour retirement homes.

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Why an up-to-date online presence matters

Why does Sunrise Senior Living have a blog?  Actually, it appears to have been updated today.  You might think that a company in the residential senior care business wouldn’t.  And further, Brookdale can be followed on Twitter.   So can JoAnn Jenkins of AARP – that makes great sense – AARP is a content/media company.  So what’s up when you can’t find any reasonably current content, or worse, the site offers up a suggestion to meet up in…2015? Or when the last tweet from a company that is still in business and is doing quite well – but their last Tweet was in 2012?

When information transparency is an ‘innovation’ in senior housing and home care

Eyes, ears and status matter nearly as much as care for families of seniors.  Imagine having to hire a private duty care worker to visit your family member in senior housing, notice today’s status and provide an email about what’s going on for long-distance family. Seem silly? Yet there has long been a ‘tree falls in the forest’ communication problem for families of memory-challenged residents, whether in home care or senior living. Yet providing simple status of loved ones (did she eat, did he go for a walk, how is the skin rash) is so simple. For many of the circumstances in which assisted living or home care services are engaged, the care recipient cannot clearly communicate the activities of the day, let alone if a rash is healing. So are family expectations forcing a change in the way care status is communicated? No data exists. And that communication is not an attribute in care search sites like Caring.com.

New tech-enabled home care initiatives emerge – what does it mean?

Last year’s VC investment in the tech-enabled home care segment caught industry attention.  2015 was a banner year of capital infusion for the 2.0 version of the home care industry. As Honor revved up with a $20 million investment, Home Hero raised a $23 million round and launched a software platform and converted workers to W2 employees. CareLinx received a $3 million round in May and then just into the new year, Hometeam upped the ante with a $27 million VC round.  Meanwhile, at the start of 2016, an eye-popping market sizing from AARP/Parks Associates of $279 billion for all things caregiving-related further underlined a perceived business opportunity, including the projection of an additional 1 million jobs in home care.

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