Market Overview for Technology for Aging in Place

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Designing products that take into consideration the needs of the senior population.

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Baby Boomers have immense buying power, and Silicon Valley is taking notice.

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Allscripts is working on an EHR that is AI and cloud-based and voice-enabled.

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Including investment from Pivotal Ventures, a company started by Melinda Gates.

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One in seven people over 50 said their providers offered care via telehealth.

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social isolation

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social isolation

Loneliness and social isolation – focus is there, solutions are emerging

Heightened focus on social isolation has resulted in more research, greater concern.  Since the initial correlation between loneliness, social isolation and poor health outcomes, new reports have emerged to try and understand why people are lonely and what can be done to mitigate it. AARP, which has been researching the subject since 2010, released new survey results in 2018 confirming the same percentage – 35 percent of adults age 45+ are lonely – but with a growing number of older adults in the population, this represents an additional five million adults based on census data and asks them to assess their health. Today, Aging in Place Technology Watch and GreatCall have published a new white paper about initiatives to fight social isolation -- a few of the points are excerpted here:

Parks Associates: 41% of Current Caregivers are Concerned About Social Isolation

08/09/2019

DALLAS, Aug. 8, 2019 /PRNewswire/ -- Parks Associates research finds 41% of current caregivers are concerned about the social isolation experienced by the people under their care.  Caregivers are most concerned about their loved one's declining strength, ongoing health issues, and the potential for accidents and emergencies, which are typically targeted by PERS and other aging-in-place solutions.

How the media loves to talk about loneliness among older adults

Shall we take this WSJ article at face value? Rant on. From yesterday’s Wall Street Journal – pops up a dramatic headline, The Loneliest Generation, describing how baby boomer Americans, more than ever, are aging alone. Did you know that ‘social isolation’ has become a named baby boomer health condition, spiking Medicare costs by an additional $134 per enrollee – tucked into the list that includes arthritis (+$117 of cost) and diabetes (+$270), source AARP?  Most of that additional spend was on nursing facilities and additional hospitalization.  Hmm.  What’s wrong?

Humana Program Encourages Socialization Among Seniors

09/26/2018

New findings from insurance giant Humana (NYSE: HUM) show that nearly 31% of Americans over the age of 65 don’t feel socially engaged. Social isolation has been a prevalent issue for many home health care and home care companies in the U.S. Such companies as LHC Group (Nasdaq: LHCG), FirstLight Home Care and Lifesprk have been working to find solutions to the issue.

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