Remote monitoring

Remote monitoring, a household product category?  Vendors in the remote monitoring world were no doubt thrilled when a few weeks ago we were treated to a wave of news stories -- the New York Times, CBS News, the Wall Street Journal and probably a number of other outlets that syndicated these. Clearly, free buzz is the best marketing any tech vendor can get -- and it is good to raise consumer awareness about a market category with fewer than 10,000 deployed units (a sum of the installed base as described to me by vendors). Generally these stories have been superficial -- hey, these are news stories, after all.  They briefly mentioned a randomly selected set of tech vendors, and perhaps whetted the appetite of consumers to consider their use. Never mind that there are numerous barriers and constraints that have, to date, limited adoption of remote home activity monitoring due to issues of pricing, reimbursement expectations, a well-established set of product capability and features, and a well-developed distribution model. 

CCRCs as destiny? Unlikely. Over the past few weeks, various statistics have caused me to roll my eyes (40% of doctors now consulting online -- huh?). But this one got my attention: the Wall Street Journal article about Continuing Care Retirement Communities (CCRCs). The article, which was about financial risk, cited an AAHSA estimate that "at least 745,000 older adults live in [1900 of] these communities", comprised of independent, assisted living, and nursing homes. Given the 39 million people over the age of 65, even if CCRCs double in capacity before 2020, they will reach a small percentage of that year's 55 million seniors.

It’s time for a quick August update of more new and notable tech offerings, from emerging vendors and new offerings from existing vendors – including beta testing.  Please let me know about others you know about and are not spotted via the Product Snapshots term on this site:

Buzz in the press is good for all.  Articles about using technology to monitor aging parents -- like the most recent two in the Thursday NY Times by Hilary Stout and Eric Taub can be great for the aging tech industry. They generate buzz and interest in the media; they are syndicated and carried throughout the Internet; re-mailed (many times to me); they boost awareness of prospective buyers; and create curiosity and even leads, both of consumer prospects as well as vendors and dealer channels.  Given buzz like this, one might think that technologies to help monitor your aging parents will now be well-understood and vendors will have to spend less of their time educating and explaining, and more time just taking orders. We thought that when we read the February, 2009 Times article by John Leland. Meanwhile, Living Independently Group, now part of GE, launched QuietCare in 2003 -- when remote monitoring then really was fairly 'new'.  And then again, in September, 2009, in Business Week, when Arlene Weintraub wrote about the business of aging in place. Oh, were it true.