It's been raining in Philadelphia. A lot, and somewhat metaphorically as well. Inside this convention of management of mostly for-profit Senior Living housing companies (and 300 exhibitors trying to sell to them), the keynote theme was about differentiation. Why it's so important, because filling the buildings of attending companies -- like Brookdale, Sunrise, Emeritus, Bell Senior Living, Country Meadows -- these days is tougher than ever.
As I try to make sense out of the aging in place technology market, new companies or companies new to me regularly surface, contacting me or being referred by others. These vendors will make their way into the July vendor update release of the Aging in Place Technology Market Overview. These are all launched (or in beta), but perhaps not well known in the marketplace as they could and should be.
In nearly every aspect of service delivery, service providers strive to attain certifications of agreed-upon minimum standards of knowledge and competence -- for example: of course there are technology certifications in technology categories (see Microsoft, Cisco).
After reading weekly about wandering individuals with dementia -- lost and then found, not necessarily alive, I think it's time for an update. Here is a bit more detail on a few of the new players engaged in technology that helps track people with Alzheimer's or other dementia. These products are device-plus- service offerings, may not yet be available in all geographies, and this information is from the vendors.
Surfing around the websites that help with defining and guiding those in search of independent living, assisted living, nursing home and the combination of these known as a CCRC (continuing care retirement communities), you can spend time on guidance sites like Gilbert Guide, RetirementHomes.com, the unfortunately-named
Vendors never want to miss a market, inadvertantly bypassing an audience that may love to buy their products -- if they only knew more about them. So why don't vendors with great potential in boomer and senior audiences -- and even some loving customers -- try harder to make this match clearer?
If you look at all of the factors together, entrepreneurs, executives of established companies, and venture capitalists should be able to synthesize and grasp the business opportunity staring them in the face. Offer services to the right market tier - either a supplier to or a family member of this well-heeled population, and what you see is what you can get. Read the links and brainstorm the possibilities.
The GE-Intel alliance -- with an associated $250 million of joint investment over the next five years -- announced this past week could get everybody in the tech industry excited. Even the business pundits that watch them are all aflutter about the possibilities for aging in place technology.
The nursing home lobbyists have clearly got the attention of the Florida legislature. In the land of the sun and the frailest elderly, the nursing home lobby has persuaded state senator Mike Bennett to file a bill that would eliminate department of health and safety inspections (restaurants would be inspected more often than nursing homes).
