For anyone who is still wondering whether there is a business out there in aging-related products and services, forward this item from today's NY Times to them. Royal Philips, the Dutch industrial giant (approximately $37.5 billion in revenue per year), is convinced that the 'world is getting older.' A company shrinking by shedding businesses and 30% revenue, Philips is instead buying and building up other growth business areas, including energy-saving lightbulbs, but also its Lifeline PERS business for home and healthcare monitoring.
This is a quick thought and I know that it is obvious I've been hanging around IT too long. Even so, I'd love feedback on it -- please! It's about the parallel between a hassle-freeing Citrix technology called GoToMyPC and what seniors in the future will need in their homes.
It's both a given and a strong conviction: Caregivers worry about the cost of technology to help seniors age in their own homes. And in fact, so does everyone else. Vendors and experts think or talk about the potential for all technology (or a vendor-specific technology) to be more affordable if it is to be adopted. Again and again, I hear the issue of 'who will pay' for technology to help seniors remain in their own home. And I detect a hope (and a bias) towards insurance reimbursment that will be government-directed and will lower the cost of care. I don't believe it -- and even more emphatically, I know that caregivers (aka the baby boomer children of those who are aging) can afford to pay.
This is a crazy idea for the gift-giving season, I know. But I just got off the phone with Landel -- the maker of Mailbug, a single-purpose e-mail appliance for the PC-less (or PC-useless) home. Wouldn't it just be a crazy idea this holiday season if baby boomers who can afford to do it gave a suite of communication products to their PC-less parents and in-laws?
With my ombudsman hat on yesterday, I spent a morning doing an assessment of an Assisted Living Facility. As is usually the case, the nurses showed us a thick patient chart book with its hand-written status observations, penciled medication tracking dosage X's and yellowed-out discontinued drugs.
I have been searching the web for robots that could be useful to seniors -- today. Yeah, I know that's a tall order. So much research, so few commercial products, and I really don't want to count the companion toy dogs. And while vacuum cleaners and floor washers are interesting and available through Target, they're not quite what I had in mind for helping seniors stay safely in their homes. And the research programs, funded by every company (including Toyota, Sony, etc., etc. and its mother, don't seem to have commercial product near ready.
Is the PERS device -- press a button around your neck and a service is dialed -- eventually headed for obsolescence? Parks Associates has predicted a basically flat growth path for PERS devices through 2013. Maybe that's so if security companies -- not healthcare companies -- set the replacement and extensible path. Here's another established and financially healthy security company, Visonic, that's been around for a long time -- now in the "PERS-and-beyond" market, aka the home monitoring market, with its Amber line.
The aging in place wave has hit the upscale community of Coral Gables in Miami. It's a well intentioned but inadequate concept despite its promise. Coral Gables@Home is being launched as a non-profit which will cost members an introductory $500 annual fee for the first 100 enrolled.
