healthcare

Had your identity stolen lately? Oh well, you probably did. A few months ago, California’s Anthem Blue Cross admitted that someone had stolen 80 million health records, complete with name, address, SS # and more. A certain amount of self-congratulation can be found in its letter to the 80+ million: "The information accessed may have included names, dates of birth, Social Security numbers, health care ID numbers, home addresses, email addresses, employment information, including income data. We have no reason to believe credit card or banking information was compromised." What a relief. But with the ‘minimal’ data stolen, the thieves got busy and filed for tax refunds from the IRS, which helpfully encourages direct deposit of the refund. TurboTax halted its electronic filing process recently due to likely fraudulent filing. And the IRS, which admits to weak fraud detection tools, will issue refunds as a result of this travesty.  

Crises drive health innovation. The presumed potential and much-publicized looming shortage of doctors is worrisome – or at least their lopsided geographic distribution is a concern. Or there are not enough medical schools to train new doctors. Or doctors are tired of being doctors.  Or is it the problem of keeping down the cost of actually seeing a doctor or a nurse practitioner? Is it that population health risks drive the need for improved chronic disease management?  Is it that there are or may soon be so many new patients? Or is the problem one of wasting the time of so many human staff in a hospital doing back-breaking and/or mundane tasks?

Next week is Active Aging Week 2014.  According to the International Council on Active Aging, there are 3000 events (all over the place) to celebrate beginning tomorrow -- there are "never more reasons to get off the couch."  So now there are 43 million people age 65+ in the US. (Remember when it was 39 million, back in 2012?) Today there are many reasons for older adults to get up and get moving. Seniors are saddled with ever-lengthening life expectancies (one in four of today's 65-year-olds will live to 90! They are stuck in their awkward and costly houses, with questionable health status and a propensity to be overweight.  Meanwhile, more than half of those aged 65+ rely on Social Security -- with its average payment of $1294/month -- for more than half of their income. 

What's new with startups in the boomer-senior market segments? We often note that the boomers have all the money. Yet they are not always the recipients of thoughtful product design or effective marketing strategy. But consider the media interest in the boomer-beyond topic, especially in the health-related segments -- where there's news, there's innovation. And where there's innovation, let's reflect on the Silicon Valley Boomer Venture Summit in Santa Clara, a business plan competition and series of events organized by Mary Furlong and delivered at Santa Clara University. The tone of the event was energetic and entrepreneurs were eager to discuss their offerings and insights. Here are just a few of the companies that were present: