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.
Baycrest Health Sciences will lead a new Canadian venture aimed at optimizing the cognitive, emotional and physical well-being of older adults—across the country and around the globe.
The Washington Post article about aging in place was, uh, provocative. It provoked me, anyway. The concept of aging in place has been oversold, says Professor Stephen Golant, author of a new book called less provocatively Aging in the Right Place. The Post encapsulation included a few gems from his book, noting that seniors who prefer to age in place have 'residential inertia' -- and paraphrasing their thinking as 'I’d rather rot in my own home.' The premise that the concept was oversold to the public, however, makes a nice headline, almost sounding like a marketing campaign -- but that simply is not what has happened in the recent past. What else was going on?
Did you know that nearly 40% of seniors report having a disability? In the category of number obsession, this new snapshot of a government report caught my eye and should catch yours – it is referencing 16 million people. The report notes six types of disability reported in census data: hearing, sight, thinking and memory, walking, self-care and independent living. From the MedlinePlus release: "People older than 85 accounted for more than 25 percent of all disabilities among seniors, although they represented only 14 percent of the overall senior population."
We’ve all heard the phrase: “Age Friendly Community.” But what is it and how does a city actually become “age friendly” to create competitive advantage amidst unprecedented demographic change?
Listening to the weather channel could make an isolated senior nervous. Nearly 46% of women aged 75+ (around 11 million) live alone -- and one in three of them will live until at least the age of 90. In fact, 2 million are aged 90+ now. If they listen to the news or the weather channel, they have quite a bit of opportunity to be frightened about the prospect of tornados, hurricanes, flash floods, excessive heat, poor air quality or wildfires. Perhaps they're watching TV and they see that absolutely horrendous Life Alert ad. That's it for going down to the basement. Then the telephone or doorbell rings -- a nice distraction from the 4+ hours per day spent watching TV or perhaps the few minutes online -- if there is a computer or tablet around them to use.
