Blogs

For too many years, high quality data about care of seniors has been elusive.  Lack of standardization of technology platforms – or lack of care platforms altogether – hobbled the care industries -- senior living, home care, home healthcare. Yet the merger and acquisition of companies in other industries ultimately results in consolidation of data. Platforms matter—they enable data standardization which in turn fuels growth. Consider Jet Blue’s interest in buying Spirit, getting planes and pilots(infrastructure) that match its current business. Consider Optum’s acquisition of Amedisys home health business. Note its 2015 $72.5 million write off of a failed in-house software deployment process. No doubt, Optum’s own data standardization business will help integrate Amedisys if the acquisition is improved.

Has anyone you know fallen and couldn’t get up?  If so, would you pick up the phone and call Life Alert, the purveyor of those miserable ads on TV?  This is not a fun company – read the reviews about working there. Philips launched its own Personal Emergency Response System (PERS) offering in 2005 through the acquisition of Lifeline Systems and gave up 16 years later, selling it to Connect America. Since then, Medical Guardian became a market leader ($100 million investment from WaterStreet), with Florence Henderson as spokesperson. And so some believe this is a viable (standalone?) market and believe that it has a low penetration rate into the potential market of worried older adults or their physicians and families.

Six mobility offerings from AARP AgeTech Collaborative. AARP’s AgeTech Collaborative launched in 2021 with a splash (and 50 startups) that has widened into an age wave, or a sort of Match.com for age-related companies to find others, including collaborators, sponsors, pilots, and more. Today’s collection includes 104 companies, many of whom have gone through the AgeTech Collaborative Accelerator process, including pitch competition, Accelerator program enabling entry into the AgeTech Collaborative program. The categories span Caregiving, FemTech, Health, Mobility, Savings & Planning, and Social Connections. Read more.

The cell phone – imagine a connected life without it. The story of that invention, particularly the context of an AT&T monopoly of the time period, is instructive about what it takes to get an innovation into the market – when many are involved, including government agencies; and obstacles, in-house and competitors, are all around.  According to interviews and his many anecdotes in his book, Cutting the Cord, Marty Cooper, aged 94, it was just one thing after the other to get the cellphone fully designed, manufactured, and into the marketplace as a mobile phone – when even his own company, Motorola, thought that the car phone market was the real opportunity.  Motorola’s own estimates of the cell phone market opportunity in the 1970’s was a wild underestimation, predicting that millions of devices sold.  Today the total number is closer to 18 billion phones worldwide. Many of those users in other countries own no other device.

Care workers – it’s not a shortage – it’s a crisis.  People who need care workers will tell you – the media will tell you, and the industry will tell you. From the national home care associations, a report in March: “The workforce shortage in home-based care has reached crisis proportions. Despite the best efforts of industry leadership and management, the gap between the numbers of patients and families seeking assistance and the availability of workers to provide that care is accelerating at an unsustainable pace. Home health care providers currently report turning away over 25% of referred patients due to staff shortages.” 

The past few weeks have brought broad-based wails of AI anxiety.  Last week in a meeting with some senior execs, there it was again – warning about scams, exploitation and worse. Then there is the AI laundry list of anxieties that keeps the media busy.  Note the hearings in Congress that raise questions and obtain carefully worded answers meant to allay widely shared fears. A regulatory framework has emerged (2 years ago) in Europe, with the purpose of helping Europe become a hub for AI innovation. The US government is interested in regulation, more for prevention, it seems, than to spawn innovation. But will it work? See social media.  

An optimistic view of home care’s future as seen from 2012. Several times in the past decade, interviews were conducted with experts that lead to some reports about the home care industry. This chart came from a report, The Future of Home Care Technology 2012 that was sponsored by Microsoft, Verizon and LivHome, in 2012. And represents a vision for home care and what technology should support.  To build this chart, interviews were conducted that included  senior execs from Philips, the VA, Visiting Nurse Services, home care associations, Home Instead, Volunteers of America, and several home care organizations. As seen in 2012, the future of home care would transform, supported by software.  Some of these changes occurred, particularly care delivery in the home, the growing adoption of health-related portals:

What is the AARP AgeTech Collaborative? AARP’s AgeTech Collaborative launched in 2021 with a splash (and 50 startups) that has widened into an age wave, or a sort of Match.com for age-related companies to find others, including collaborators, sponsors, pilots, and more. Today’s collection includes 104 companies, many of whom have gone through the AgeTech Collaborative Accelerator process, including pitch competition, Accelerator program enabling entry into the AgeTech Collaborative program. The categories span Caregiving, FemTech, Health, Mobility, Savings & Planning, and Social Connections.

The AI hype cycle is distracting everyone. That is inclusive of very large companies. And doubts continue to emerge in the media that make it seem like we are in the slough of despond, otherwise known as the low point of the Gartner Hype Cycle. Note the concerted efforts to find and publicize deficiencies and mistakes, reinforcing the premise that it is too early for benefits across industries like senior living or home care. But it’s not too early, as the new report, The Future of AI and Older Adults 2023, points out through interviews with those deploying conversational AI and machine learning technology today.  And from the other May blog posts:

Rant on. So there is an upcoming meeting to attend.  Now let’s see -- will it be conducted in Zoom, Teams, Google Meet, Webex, GoToMeeting or something else?  Will the meeting invite be visible to my calendar, which has Google’s 500 million users – or do I need to place myself on the calendar of the person who asked to speak with me (10 million users) and request that it also be sent to my calendar?  Will it be a short Zoom meeting, cut off abruptly at 40 minutes because the participant leading only has the free version? Or will it be a conference-specific event management technology in which all interactions will be buried inside the must-look-at software?