Trend Report: Emerging Technologies
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The document discusses the increasing demand for technology to support aging in place, highlighting that 10 million seniors live alone and the growing informal caregiving costs. It categorizes aging in place technologies into four areas: communication, home safety, health, and learning. The market for these technologies is projected to grow significantly, with a focus on meeting the needs of seniors and caregivers through improved connectivity and services.
Trend Report: Emerging Technologies
- 1. Technology for Aging in PlaceTechnology for Aging in Place Laurie M. Orlov Aging in Place Technology Watch
- 2. The reality of caregiving • 10 million seniorslive alone • 25%of familiescare for someone outside the home* • 79%of care recipientsare over age 50 • Average age of care recipientsis75 • Informal caregiving costsestimated at $60 billion * Care: occasional up to frequent help with ADLs or IADLs
- 3. The looming crisis of care 2009 2020 55 million seniors 65+ 39 million seniors 65+ *** Caregivers: Women aged 25-44 20152010 Population growth projection from US Census *Source: MetLife $38K/year for Assisted Living 2009* Cost of care? $51K/year Assisted Living** **Source Amer. Association LTC & MetLife ***Source National Clearinghouse Direct Care Workforce Growth Rate Time Copyright Aging in Place Technology Watch
- 4. Aging status changes vary an individual’s needs over time Home Safety Personal Status Personal Safety Personal Health Personal Medical Status Time Independent Frailer Alarm system E-mail, phone, Video, chat PERS, Fall Detection, Home Monitor Medication Reminders, Wellness Guides Chronic disease monitors Copyright Aging in Place Technology Watch
- 5. Providers Seniors Family & Caregivers Aging in Place depends on connected relationships… …Not well connected today Copyright Aging in Place Technology Watch
- 6. Four aging in place technology categories Communication and Engagement Home Safety and Security Health and Wellness Learning and Contribution Email, Chat Video Cell phone PC, Mac Security PERS Fall detection Home monitor Telehealth Medication dispensing and reminders Disease management Fitness Legacy Education and learning Volunteer, work Copyright Aging in Place Technology Watch Caregiving
- 7. Awareness and potential use of home technology devices among 65+ 38% 40% 40% 56% 68% 60% 11% 21% 13% 36% 65% 91% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100 % Internet monitoring w/provider communication Sensors to detect falls Electronic pillbox Activity monitor Alarms on doors and windows Personal Emergency Response Systems Aware of Would Use Derived from Healthy@Home study, AARP Foundation 2008 Copyright Aging in Place Technology Watch
- 8. A day in the life: Tech-enabled relationships •Passes doorway motion sensor •Puts on fall detector •Receives reminder to take meds •Gets a video call from grandkids •Requests transportation pickup •Participates in online hobby forum •Attends a distance learning course Senior living at home Long-distance Family •Makes the video call •Shares trip photos •Sets up family tree Family/Caregivers •Updates personal health record •Preloads medication canister •Sets med reminder schedule •Configures notification phone list •Receives home-related alerts Healthcare Providers •Updates personal health record •Writes ePrescription •Checks downloaded data from wearable cardiac monitor •Answers e-mail question •Provides a video consultation Copyright Aging in Place Technology Watch
- 9. Hubs offer a lens to view and find Aging in Place Services Example sites: DiabetesMine.com PatientsLikeMe WebMD Role-based Hub-and-spoke model (Caregiver - Senior) Need-based hub-and-spoke model (Rehab at home) Example sites: SilverPlanet.com Caring.com Grandparents.com Products Services Devices Guidance Shared Information Copyright Aging in Place Technology Watch 2009
- 10. Four aging in place technology categories Communication and Engagement Home Safety and Security Health and Wellness Learning and Contribution Email, Chat Video Cell phone PC, Mac Security PERS Fall detection Home monitor Telehealth Medication dispensing and reminders Disease management Fitness Legacy Education and learning Volunteer, work Copyright Aging in Place Technology Watch Caregiving
- 11. Role- and Need-based hubs will emerge and grow • Providing a lensto serving aging-related roles • Powering a community of shared interests • Serving caregiver family and professionals • Spanning the distance and disconnect in relationships • Building upon today’ssocial networks • Simple to use and intuitive Copyright Aging in Place Technology Watch
- 12. Fewer boxes, less data, more information • Will referral channels dominate? Identifying and marketing to common needs » Health and home care provider » Social services » Geriatric care managers • Who goes into the home? Built-in computers,TVs,wireless,with sensors and camerasin and around the home, easily switched on and off • Who connects the home and the individual? » ISPNetwork provider » Cable company » Security dealer » Cell or smart phone provider
- 13. For seniors, firms will emphasize: • Subscription-based services • Systems to link home to outside – for health-related monitoring or for sharing information • Wearable inside and outside Copyright Aging in Place Technology Watch
- 14. Applications will meet social and information needs • Discovery and finding people with common interests • Opt-in information and connecting to services (health,safety,work) • Blurred life stages – available asneeded for individualsat every age • Mobile – applicationswill follow the person from home or away Copyright Aging in Place Technology Watch
- 15. Aging in place market silos overlap Healthcare Role- and need- Based hubs Home Automation Services Home Design Assistive Technology Copyright Aging in Place Technology Watch
- 16. Aging in place market silos will overlap • NAHB CAPS certification will require home wirelessand sensor networking knowledge • Home automation bundles asa service will become a feature offered through need- based hubs • Security vendors will provide interfacesfor healthcare devices • Remote healthcare will take the initiative to partner with security and home monitoring Copyright Aging in Place Technology Watch
- 17. Eskaton Demonstration Home Courtesy of Eskaton Senior Residence and Services 2008 •Connectivity through TV or home computer •Wellness monitoring •Cognitive fitness games •Smart reminders •Smart lighting and appliances Copyright Aging in Place Technology Watch 2009
- 18. How large is the market? 2008 202020152010 Growth Rate $ Time Copyright Aging in Place Technology Watch 2009 $2 billion $20 billion… •Games/Fitness •Computers/TVs •Web cameras •Smart phones •Chronic disease mgmt •Caregiving •Home automation •Mobility aids •Fall detection •Fall prevention •Car safety technology •???
- 19. $20 billion…or more? • Games/Fitness • Computers/TVs or Broadband TVs • Web cameras • Smart phones with smart apps • Chronic disease mgmt • Caregiving portals • Home automation • Mobility aids • Fall detection, fall prevention • Car safety technology • And the enabling infrastructure… Copyright Aging in Place Technology Watch
- 20. Advice to marketers • Create a boomer-and-senior aware website • Test usefulness with the target audience • Narrow scope, broaden messaging • Be wary of box obsolescence • Give away device and sell service • Offer the free trial • Add related and useful value • Add the community to the product • Monitor reputation on consumer websites • Cultivate members of other markets -- early
- 22. Baby boomers circa…now Copyright Aging in Place Technology Watch
- 23. Thank you! Laurie M. Orlov Aging in Place Technology Watch www.ageinplacetech.com laurie.orlov@gmail.com 772-345-3725