You walked the Exhibit Hall at ASA. You've been there, done that -- the American Society on Aging conferences and always the Exhibit Hall – so that you could note what the organization prioritizes for its many social services attendees to hear about or visit. A few years ago, you were observing that there were many companies, so little tech. This time it seemed that the exhibit hall had even fewer tech offerings than previous, and very few brand-new companies. Big firm entrants were there -- like Tunstall (Exhibit Hall) and GreatCall (Sponsor), along with divisions of larger firms, like Plantronics/Clarity. You might have thought it was surprising to see a new senior-focused business unit from Hasbro -- with a Companion Robotic Cat (Exhibit Hall). Maybe you noted that a few smaller firms were there – with tech like MyMar (medication reminders for assisted living staff), MyMemory Carebook (life legacy), SwiftAlarm (PERS) and SingFit (dementia care music technology).
Five characteristics of health tech market maturity...for a mature market. What would boomers most want to have as key characteristics in the tech world of boomers/seniors? Here’s a starting list – comments welcome. 1) Their privacy is well protected by their insurers, doctors, software, social network and device makers; 2) Their health information is well-integrated into the multi-company health provider world – no need to carry around those CDs of EHRs); 3) Trends in their health patterns are noticed by care providers who use predictive analytics to note possible problems); 4) Boomers do less driving to specialists, more remote consultations, which are appropriately reimbursed through Medicare; 5) Fitness gadgets are replaced by well-being devices and systems.
Staying up-to-date by rounding up recent announcements. As the recently published 2016 Technology Market Overview noted, most older adults will remain in their own homes, served by home/companion and home healthcare providers and assisted by a variety of tech-enabled products and services. Over the past month, new offering announcements have that can help seniors, care providers (family and professional) meet the objective of remaining at home. Here are five, noting as always, that all material is provided from the websites/announcements from the companies themselves.
Technology changes faster than older people can keep up. The latest Android or iPhone is entering the market shortly. Those who may have thought they just HAD the latest, are presented again with modest technological change and plenty of hype. Those that still hang on to much older cell phones will again consider a change -- and surely sales reps want to move the current models before the newest ones crowd the shelves. But boomers, for example, don’t use their phones in the same way younger people do. And only 50% of seniors age 75+ even have Internet access. So first there is a technology ownership gap, then an access gap, then finally a training gap that must be closed. Here are 6 methods for gaining training in devices and software, with descriptive text drawn from their various websites.
Another convention, apparent consumer progress in using health data. HIMSS (the Las Vegas mega get-together about transforming health through IT) is wrapping up and with it are the press releases. Several surveys hit the streets this past week that could make health tech investment enthusiasts see progress if they forget that investment funds (and end user pilots) may be drying up. For example, the Accenture global survey noted that app and wearable use for managing their health doubled since 2014, from 16% to 33%. And the 1-liner that Accenture wants you to know? "Research shows patients in the United States want a heavy dose of digital." Well, some of them, maybe.
The romantic notion of aging in place is becoming a necessity, not a goal. The 2016 Technology Market Overview is complete. Median net worth of the 75+ age range is now $156,000, inclusive of home equity. This is deferring moves to assisted living – its move-in age now a mid-80’s and frailer demographic. But boomers are right behind them – and even less able to move in. They have simply not saved enough – holding an average retirement savings portfolio of only $136,000 – enough for just two years of a private assisted living community like Brookdale. And worse, the average 65-year-old enters retirement years with an unprecedented level of debt.
Like robots, self-driving cars and the elderly make good media. [Rant on] It never ends – another admiring NPR story about Google’s self-driving car –which of course has no steering wheel or controls. Go ahead do a quick search for "Self-driving cars seniors” and then scan down the headlines. No need to read these articles – just the headlines. "Perfect for Elderly!" says AARP, "Seniors will be the first to benefit from self-driving cars!" "Can self-driving cars redefine old age?" And "will self-driving cars undermine Senior Living?" Seriously? Can the self-driving car cook dinner, clean the apartment and provide compelling social interactions, too?
Consider this a heads up about new technology-enabled options for older adults. Sometimes it is helpful to know about offerings before or just as they are being released, if only to look for their availability in the future. The five interesting offerings that are noted below are all going to be available within the next six months, possibly sooner. Each in its own way strives to solve a problem experienced by older adults or those who serve them:
With so much digital health talent and money in Silicon Valley, little aims at dementia. Is it because the consumer doesn’t complain enough in surveys? Let’s face it, most tech for dementia care is stunningly rudimentary, consisting of (at best) warn and lock doors, cameras to watch for wandering, and if the residents are lucky enough – engagement technologies (like SingFit or iNTL) may be deployed or are at least being considered. If there are 2.5 million people in the US living in Nursing Homes and Assisted Living, more than 50% of them have some dementia. (My opinion – it is much higher than that.) The rest of the 5.3 million who have some sort of dementia are still living at home.
