seniors and aging policy

Does anyone remember Y2K?  It happened just 15 years ago. The $100 billion in the US -- $350 billion worldwide -- that was spent to convert information systems to move from a 2-digit year to a 4-digit year, well, it seems so last century. The belief at that time: The move from the YYMM format of dates in all systems everywhere (all military, government, and commercial) in the year 2000 would create a "0001" January 1, 2000 date format that would result in disaster. Checks couldn’t be issued, military systems would fail, hospitals and power plants would shut down or off. This was preceded by sky-is-falling anxiety, particularly among IT people who bore the brunt of redirecting work to code this change.

In tackling aging with tech -- interesting few weeks.  Sometimes odd things happen in sequences that beg a backward search for meaning. So let’s recap: within the past three weeks, Silicon Valley VCs invested in a presumably tech-enabled home care agency, Apple and IBM coughed up 5 million iPads for Japanese seniors (to “tackle aging”), and the US Senate held a hearing on the benefits of technology for those aging at home. Some might see these three disparate events, when viewed together, as a trend that shows how tech, big companies, and public policy are all coming together in an age-related trifecta of tech transformation. Whew!

Competitions abound – all need groundwork.  Just a few years ago you might have noticed that there were few business plan competitions for products and services targeting the older adult market (the Silicon Valley Boomer Venture Summit begun by Mary Furlong in 2004 was a rare exception.)  When its Letter of Intent page appeared at the end of 2011, CMS innovation grant applications included technology submissions behind the scenes, in partnership with non-profits and healthcare delivery organizations. Then came the $1 billion round two announced in December 2014 – and with that, multiple other tech solutions were included to help deliver significant changes, including health information exchanges, patient engagement, the emerging field of population health, and today’s CMS reimbursement for telehealth.  With these approvals, CMS effectively laid the groundwork for many of the firms that compete today in health segments.