senior living

The Harvard study describes a bleak care future. And the NORC study underscores the housing problem for the Forgotten Middle. Life expectancy for the 65+ is another 20 years on average.  But only 14% of Americans can afford long-term care in the home. And if they could afford it, only 4% of their homes are aging-ready. Nor are they telehealth-ready – where 36% of Americans do not have high-speed internet in the home. For low-income individuals, home and community based services may have a 3-year wait to obtain them. Further, 42% of women aged 75+ live alone. 

Trends worth noting about care work. You know the statistics and they are alarming. Doctors and nurses are burning out, especially in the ER. Turnover is highest in the lowest-paid care positions – home care is at a high point at 77% as of 2022. Pressure is growing in senior living to ‘keep people well’ in conjunction with a higher level of acuity of care needs. Demand and costs are up, and availability of workers is down. What will drive innovation in care?

Why AI will be an enabler for care work. Healthcare delivery is migrating away from the hospital. As care delivery and consumer expectations change, the traditional fee-for-service model has already morphed into the new era of health-care consumerism – a patient-organized mix of self-care, urgent care, and in-home care, avoiding emergency rooms or long wait for a doctor visit. More seniors used telehealth at home during the pandemic – and today the landscape is set for growth in the use of AI in care delivery to augment, assist, and in some cases provide care:

You know the statistics and they are alarming.  Doctors and nurses are burning out, especially in the ER.  Turnover is highest in the lowest-paid care positions – home care is at a high point at 77% as of 2022.  Pressure is growing in senior living to ‘keep people well’ in conjunction with a higher level of acuity of care needs. Demand and costs are up, and availability of workers is down. Add the baby boomer population growth – all will pass 65 in just 7 more years -- in conjunction with a shortage of workers able and willing to help them. Hospitals are closing, particularly in rural areas – boosting expectations about care delivery in the home.  And in 2023, AI technology is emerging  to manage and even improve care. Here are four observations from the just-completed research interviews on this topic: