Wednesday, November 7, 2012
Connected Health Lights Up Boston
Connected healthcare, from remote monitoring to greater connectivity among providers, encompasses a wide range of topics and it seemed that most of those topics were covered during last week’s ninth annual Connected Health Symposium in Boston.
Gary L. Gottlieb, MD, MBA, president and CEO of Partners HealthCare System in Boston, said the challenges of healthcare reform present enormous opportunity for innovation. Healthcare reform is “a major commitment to society we need to take on together,” he told his audience. If the aging population, increase in those with chronic conditions and rising healthcare expenditures “goes unchecked, our accountability to society also goes unchecked.”
There is potential for tremendous effects, he said. However, “the opportunity to do greater good could be diminished if we focus on cost alone.” Greater coordination will lead to more effective and more efficient care, Gottlieb said, citing the statistic that 30 percent of what we spend on healthcare is wasted. “We know that transactional fee-for-service medicine creates fragmentation. No coordination with other components will only use resources that appear to be near to home. Even with the most sophisticated EHRs, without connectedness between patients and families and providers and a series of other providers, we will fail.”
And David Blumenthal, MD, MPP, former national coordinator of health IT and incoming president of the Commonwealth Fund, discussed the steps involved in creating a nationwide health information network, an effort he said that dwarfs just about all other human achievements.
The technical requirements of a nationwide network include standards that work and are incorporated into EHRs. The Office of the National Coordinator for Health IT (ONC) is making progress, he said, calling the latest standards issued in August “a major step forward.” But more regulations are required.
Continuation of the Meaningful Use framework is important as well, said Blumenthal. “Meaningful Use is the number one force driving the incorporation of standards into electronic health information systems. It creates incentives and a mechanism for enforcing the incentive to put standards into EHRs and get providers to use those systems to exchange information.”
Another issue impacting the creation of a nationwide health information network is the need for a more nimble and responsible, user-friendly approach to privacy and security.
We’ve been hearing of the coming “big data deluge” and while it has the potential to help improve clinical care, that will take some time, according to the participants of a panel discussion.
A lot of the big talk about big data is just talk. “Big data are 49 percent real and 51 percent hype,” said Michael Weintraub, MBA, president and CEO of Humedica. He estimated there were maybe 10 companies offering big data services a year ago and approximately 30 as of six months ago. “To those buying big data, buyer beware. Everyone has updated their PowerPoints to become a big data vendor.”
The reality is that it will be a long time before big data turns into actionable information that clinicians can use to improve the care they provide, according to Charlie Baker, MBA, entrepreneur-in-residence at General Catalyst Partners in Cambridge, Mass. Right now, big data are of more use to researchers and policymakers funding research than to frontline providers. “Big data to most folks practicing medicine is a great idea, but not something they believe will help them improve quality in the short term.”
Part of the reason it will take so long is because there is so much, but it’s also because the relationship between healthcare stakeholders is complex and “people are complicated,” as Chris Kryder, MD, CEO of D2Hawkeye in Jersey City, N.J., put it.
Beth Walsh, Editor, CMIO
TSH Editor's Comments: It is becoming more and more clear that the senior housing industry needs to understand that it is connected to a larger continuum, or spectrum of healthcare provider organizations. To achieve the level of care coordination that is forecasted we must adopt a new approach to technology and focus more on becoming interoperable with the rest of the spectrum. BB
Tuesday, March 27, 2012
Seniors Becoming Techno Geeks
While technology may not solve all of our problems, there’s evidence that it may provide significant savings for healthcare systems dealing with an ever increasing number of seniors, relieve stress on family members trying to look after senior loved ones while maintaining their own careers and home life, help to maintain at least a minimal quality of life for persons with Alzheimer’s and dementia, and provide a means by which seniors can slow down the aging process.
Seniors are already recognizing some of these benefits and are looking for high-tech offerings in their residences, Seniors Housing News reports. “From wireless availability to health monitoring systems, technology is one of the key trends in the senior housing industry. Seniors and their families see wireless access as more of a necessity than a luxury, since the computer is a way to get information, connect with family members, and go through daily life.”
Despite security concerns and a few glitches from time to time, some seniors and their caregivers are already using smartphone and tablet applications to remotely keep in touch, monitor and, if need be, provide assistance.
The technology used in X-Box video gaming systems is being tested to gather data on how to keep the elderly safer in their own homes longer. Cameras that produce an infrared depth image that’s “best described as a three dimensional silhouette” monitor behaviour and routine changes “that can indicate increased risk for falls or early symptoms of illness. In addition to falls, the systems can monitor a resident’s gait” (changes in someone’s gait can indicate an illness or a cognitive disorder).
A company is now installing GPS in shoes and marketing the product as a “safeguard for people with Alzheimer’s disease or dementia. Wearers of the shoes can be tracked through a website, which is also accessible via a smartphone. These shoes don’t come cheap: they cost about $300 and there is a $35 monthly fee for the tracking service.”
To reduce the risk of developing dementia, a group of Australian neuroscientists has developed an iPhone and iPad application designed to exercise the brain and educate the user.
Closer to home, University of Alberta researchers, in collaboration with Glenrose Rehabilitation Hospital, are using computer software to study elderly client volunteers in a self-contained independent living suite. The suite contains sensors and is equipped with smart devices to collect information about seniors’ daily activities. “The data will be used to understand how to make better use of healthcare resources, enable remote collaboration among providers, and contribute to early intervention and long-term management of chronic diseases. Researchers will also learn how to prepare older people for independent living, and extend the length of time seniors are able to live in their homes.” To read more, go here.
On a less serious note, technology even addresses the inability of frail and elderly seniors to travel south for a winter vacation. A sun simulator system “brings the beach and the summer heat inside” so that seniors lodge residents can “escape on a tropical break without ever leaving home”.
While seniors will still need to engage in a regular fitness program, take responsibility for their lifestyle choices in other ways, develop social contacts and pursue meaningful activities to maintain their mental and emotional health, their future may not be as bleak as some have predicted due to advances in technology.
Posted by:
Rich Gossen (Edmonton Seniors Coordinating Council)
Thank you Rich for sharing. TSH Editor
Seniors are already recognizing some of these benefits and are looking for high-tech offerings in their residences, Seniors Housing News reports. “From wireless availability to health monitoring systems, technology is one of the key trends in the senior housing industry. Seniors and their families see wireless access as more of a necessity than a luxury, since the computer is a way to get information, connect with family members, and go through daily life.”
Despite security concerns and a few glitches from time to time, some seniors and their caregivers are already using smartphone and tablet applications to remotely keep in touch, monitor and, if need be, provide assistance.
The technology used in X-Box video gaming systems is being tested to gather data on how to keep the elderly safer in their own homes longer. Cameras that produce an infrared depth image that’s “best described as a three dimensional silhouette” monitor behaviour and routine changes “that can indicate increased risk for falls or early symptoms of illness. In addition to falls, the systems can monitor a resident’s gait” (changes in someone’s gait can indicate an illness or a cognitive disorder).
A company is now installing GPS in shoes and marketing the product as a “safeguard for people with Alzheimer’s disease or dementia. Wearers of the shoes can be tracked through a website, which is also accessible via a smartphone. These shoes don’t come cheap: they cost about $300 and there is a $35 monthly fee for the tracking service.”
To reduce the risk of developing dementia, a group of Australian neuroscientists has developed an iPhone and iPad application designed to exercise the brain and educate the user.
Closer to home, University of Alberta researchers, in collaboration with Glenrose Rehabilitation Hospital, are using computer software to study elderly client volunteers in a self-contained independent living suite. The suite contains sensors and is equipped with smart devices to collect information about seniors’ daily activities. “The data will be used to understand how to make better use of healthcare resources, enable remote collaboration among providers, and contribute to early intervention and long-term management of chronic diseases. Researchers will also learn how to prepare older people for independent living, and extend the length of time seniors are able to live in their homes.” To read more, go here.
On a less serious note, technology even addresses the inability of frail and elderly seniors to travel south for a winter vacation. A sun simulator system “brings the beach and the summer heat inside” so that seniors lodge residents can “escape on a tropical break without ever leaving home”.
While seniors will still need to engage in a regular fitness program, take responsibility for their lifestyle choices in other ways, develop social contacts and pursue meaningful activities to maintain their mental and emotional health, their future may not be as bleak as some have predicted due to advances in technology.
Posted by:
Rich Gossen (Edmonton Seniors Coordinating Council)
Thank you Rich for sharing. TSH Editor
Thursday, March 22, 2012
Center for Technology and Aging - 2011 Top Ten
CTA’s Top Ten of 2011
Below are the 10 Center for Technology and Aging (CTA) articles, reports, presentations and program announcements that drew the most interest from our readers in 2011. The top 10 items cover a wide range of topics, from the Center’s grantees’ project outcomes, to advances in patient-centered technologies, to collaboration efforts between CTA and the Office of the National Coordinator (ONC) and the Administration on Aging (AoA), to lessons learned and best practices on how to take patient-centered technology-enabled interventions to scale. Please browse the articles in the list below, read about forthcoming opportunity areas, and look for our reader survey in our upcoming newsletter to provide feedback to the Center on our dissemination efforts.
Two of the top 10 articles for 2011 presented project outcomes from completed CTA grant programs including Centura Health at Home and Connecticut Pharmacists Foundation. Both organizations reported positive outcomes and are continuing their efforts to take their programs to scale. As CTA grantees continue to report project outcomes, additional findings will be provided through reports, presentations and webinars. Upcoming project outcomes will highlight grantees from the Tech4Impact program as well as the Remote Patient Monitoring Program.
CTA’s collaboration with the ONC around Consumer eHealth and the AoA on Technologies to Improve Post-Acute Care Transitions (Tech4Impact) sparked much interest in 2011. CTA and ONC have convened a Consumer eHealth affinity group to facilitate communication on best practices for technology-enabled interventions, share lessons learned, and foster future collaborations. The group holds monthly webinars where CTA and ONC grantees share lessons learned on implementing consumer eHealth technology-enabled interventions. Several CTA grantees and Beacon Communities participated in an innovative event at the Health 2.0 conference in San Francisco, where provider organizations had an opportunity to meet directly with technology innovators and technology companies through the ONC Beacon Communities Innovation Exchange session. The panel presentation on ‘Provider Implementation of Consumer eHealth Technology’ with Beacon Communities and CTA grantees continues to draw viewers. As 2012 progresses, CTA will be working with ONC to disseminate Consumer eHealth Affinity Group webinar presentations to a larger audience.
On a similar note, CTA’s collaboration with the U.S. Administration on Aging on Technologies to Improve Post-Acute Care Transitions (Tech4Impact) garnered much interest. CTA’s presentation at the National Association of Area Agencies on Aging (n4a) conference on the ‘Role of Technology in Care Transitions and Beyond’ discusses innovative strategies for spreading new technologies throughout organizations and communities. Two CTA Tech4Impact (Technologies for Improving Post-Acute Care Transitions) grantees highlighted opportunities and practical implications around care transitions.
CTA reports and issue briefs continue to maintain a steady interest post release. Two papers in particular, the mHealth Position Paper and Return on Investment (ROI) Issue Brief have claimed two spots on the top ten list. The mHealth Position Paper has gained increasing importance as we experience a rapid increase in the way mHealth/Connected Health programs are used by older adults, family caregivers, and the health care workforce. The ROI Issue Brief provides an overview of the process for determining the ROI of current or prospective technology-enabled programs to address chronic care. CTA, in collaboration with the Center for Connected Health, is developing a ROI tool to assist organizations determine the ROI of remote patient monitoring technologies, with the release scheduled for later in 2012.
The Center has also reported on grantees’ efforts to use multimedia to inform key stakeholders of the impact of their projects. Gaining the greatest attention was the mini-documentary created for the Connecticut Pharmacists Foundation, a Medication Optimization grantee, on their program that successfully utilizes videoconferencing to eliminate barriers to care for the Khmer populations in California and Massachusetts.
One of the presentations prepared by Catholic Healthcare West and HealthCare Partners, CTA grantees co-funded by The Gordon and Betty Moore Foundation received special attention for their session at the AgeTech Annual Conference. The grantees highlighted their lessons learned and preliminary outcomes from their remote patient monitoring projects.
Announcements concerning CTA’s mHealth Grants Program received much attention from readers, specifically the mHealth Project Abstracts that describe the specific technology interventions of the five grantees, as well as project locations, collaborators, target populations, goals, and replication/sustainability plans.
In early 2011, CTA released the second of two issues of the journal Ageing International entitled “Technology Adoption and Diffusion for Older Adults,” guest edited by CTA staff. The articles in these issues explore how technology can improve the health and independence of older adults with an emphasis on the diffusion and scalability of technology. CTA spotlighted one article, an interview with Dr. Adam Darkins of the Veterans Health Administration (VA), where he discussed the critical factors important to the success of the VA’s Care Coordination/Home Telehealth (CC/HT) program and Vista Electronic Health Record as well as his view of the future of telehealth. The full article is available on CTA's website courtesy of Springer Publishing.
The links to the specific articles are presented below.
Position Paper - mHealth Technologies: Applications to Benefit Older Adults
March 2011
Project Outcomes - Centura Health at Home (CHAH), Completes CTA Grant Project with Positive Outcomes and Impacts Policy in Colorado
August 2011
Return on Investment Brief - Determining the ROI from Remote Patient Monitoring - A Primer
October 2011
Project Outcomes - Connecticut Pharmacists Foundation’s Medication Optimization Project Demonstrates Significant Patient Outcomes and Return on Investment
October 2011
Health 2.0 CTA-Beacon Innovation Exchange Presentation: Provider Implementation of Consumer eHealth Technology
September 2011
CTA Presentation at the National Association of Area Agencies on Aging (n4a) Annual Conference: The Role of Technology in Care Transitions and Beyond
July 2011
Abstracts of CTA mHealth Grantees
July 2011
CTA Grantee Mini Documentary - Connecticut Pharmacists Foundation MedOp Project
October 2011
CTA Presentation at the AgeTech Conference - Implementing Patient-Centered Technology Interventions for Older Adults: Lessons Learned
November 2011
Ageing International Article - Lessons from a Leader in Telehealth Diffusion: Interview with Dr. Adam Darkins of the Veterans Health Administration
January 2011
By David Lindeman
This is a great year-end summary from our friends at the Center for Aging and Technology. TSH Editor BB
Below are the 10 Center for Technology and Aging (CTA) articles, reports, presentations and program announcements that drew the most interest from our readers in 2011. The top 10 items cover a wide range of topics, from the Center’s grantees’ project outcomes, to advances in patient-centered technologies, to collaboration efforts between CTA and the Office of the National Coordinator (ONC) and the Administration on Aging (AoA), to lessons learned and best practices on how to take patient-centered technology-enabled interventions to scale. Please browse the articles in the list below, read about forthcoming opportunity areas, and look for our reader survey in our upcoming newsletter to provide feedback to the Center on our dissemination efforts.
Two of the top 10 articles for 2011 presented project outcomes from completed CTA grant programs including Centura Health at Home and Connecticut Pharmacists Foundation. Both organizations reported positive outcomes and are continuing their efforts to take their programs to scale. As CTA grantees continue to report project outcomes, additional findings will be provided through reports, presentations and webinars. Upcoming project outcomes will highlight grantees from the Tech4Impact program as well as the Remote Patient Monitoring Program.
CTA’s collaboration with the ONC around Consumer eHealth and the AoA on Technologies to Improve Post-Acute Care Transitions (Tech4Impact) sparked much interest in 2011. CTA and ONC have convened a Consumer eHealth affinity group to facilitate communication on best practices for technology-enabled interventions, share lessons learned, and foster future collaborations. The group holds monthly webinars where CTA and ONC grantees share lessons learned on implementing consumer eHealth technology-enabled interventions. Several CTA grantees and Beacon Communities participated in an innovative event at the Health 2.0 conference in San Francisco, where provider organizations had an opportunity to meet directly with technology innovators and technology companies through the ONC Beacon Communities Innovation Exchange session. The panel presentation on ‘Provider Implementation of Consumer eHealth Technology’ with Beacon Communities and CTA grantees continues to draw viewers. As 2012 progresses, CTA will be working with ONC to disseminate Consumer eHealth Affinity Group webinar presentations to a larger audience.
On a similar note, CTA’s collaboration with the U.S. Administration on Aging on Technologies to Improve Post-Acute Care Transitions (Tech4Impact) garnered much interest. CTA’s presentation at the National Association of Area Agencies on Aging (n4a) conference on the ‘Role of Technology in Care Transitions and Beyond’ discusses innovative strategies for spreading new technologies throughout organizations and communities. Two CTA Tech4Impact (Technologies for Improving Post-Acute Care Transitions) grantees highlighted opportunities and practical implications around care transitions.
CTA reports and issue briefs continue to maintain a steady interest post release. Two papers in particular, the mHealth Position Paper and Return on Investment (ROI) Issue Brief have claimed two spots on the top ten list. The mHealth Position Paper has gained increasing importance as we experience a rapid increase in the way mHealth/Connected Health programs are used by older adults, family caregivers, and the health care workforce. The ROI Issue Brief provides an overview of the process for determining the ROI of current or prospective technology-enabled programs to address chronic care. CTA, in collaboration with the Center for Connected Health, is developing a ROI tool to assist organizations determine the ROI of remote patient monitoring technologies, with the release scheduled for later in 2012.
The Center has also reported on grantees’ efforts to use multimedia to inform key stakeholders of the impact of their projects. Gaining the greatest attention was the mini-documentary created for the Connecticut Pharmacists Foundation, a Medication Optimization grantee, on their program that successfully utilizes videoconferencing to eliminate barriers to care for the Khmer populations in California and Massachusetts.
One of the presentations prepared by Catholic Healthcare West and HealthCare Partners, CTA grantees co-funded by The Gordon and Betty Moore Foundation received special attention for their session at the AgeTech Annual Conference. The grantees highlighted their lessons learned and preliminary outcomes from their remote patient monitoring projects.
Announcements concerning CTA’s mHealth Grants Program received much attention from readers, specifically the mHealth Project Abstracts that describe the specific technology interventions of the five grantees, as well as project locations, collaborators, target populations, goals, and replication/sustainability plans.
In early 2011, CTA released the second of two issues of the journal Ageing International entitled “Technology Adoption and Diffusion for Older Adults,” guest edited by CTA staff. The articles in these issues explore how technology can improve the health and independence of older adults with an emphasis on the diffusion and scalability of technology. CTA spotlighted one article, an interview with Dr. Adam Darkins of the Veterans Health Administration (VA), where he discussed the critical factors important to the success of the VA’s Care Coordination/Home Telehealth (CC/HT) program and Vista Electronic Health Record as well as his view of the future of telehealth. The full article is available on CTA's website courtesy of Springer Publishing.
The links to the specific articles are presented below.
Position Paper - mHealth Technologies: Applications to Benefit Older Adults
March 2011
Project Outcomes - Centura Health at Home (CHAH), Completes CTA Grant Project with Positive Outcomes and Impacts Policy in Colorado
August 2011
Return on Investment Brief - Determining the ROI from Remote Patient Monitoring - A Primer
October 2011
Project Outcomes - Connecticut Pharmacists Foundation’s Medication Optimization Project Demonstrates Significant Patient Outcomes and Return on Investment
October 2011
Health 2.0 CTA-Beacon Innovation Exchange Presentation: Provider Implementation of Consumer eHealth Technology
September 2011
CTA Presentation at the National Association of Area Agencies on Aging (n4a) Annual Conference: The Role of Technology in Care Transitions and Beyond
July 2011
Abstracts of CTA mHealth Grantees
July 2011
CTA Grantee Mini Documentary - Connecticut Pharmacists Foundation MedOp Project
October 2011
CTA Presentation at the AgeTech Conference - Implementing Patient-Centered Technology Interventions for Older Adults: Lessons Learned
November 2011
Ageing International Article - Lessons from a Leader in Telehealth Diffusion: Interview with Dr. Adam Darkins of the Veterans Health Administration
January 2011
By David Lindeman
This is a great year-end summary from our friends at the Center for Aging and Technology. TSH Editor BB
Sunday, February 19, 2012
HIMSS 2012 - The Intelligent Hospital
The Intelligent Hospital ™ Pavilion
The RFID in Healthcare Consortium and HIMSS have partnered in 2011 and again for 2012 to deliver a series of educational programs to the life sciences industry to help raise the level of awareness for the use of a technologies in improving patient care, safety, and operating efficiencies in a healthcare, assisted living and nursing home facilities.
In 2012, the following programs are scheduled:
February 20th – One day, RFID & RTLS Technologies Symposium open to all. Learn more
“Intelligent Hospital ™ ” Destination Pavilion. Learn more
The HIGHLIGHT of this 10,800 square foot pavilion will be an “Intelligent Hospital ™” section comprised of FIVE rooms:
a complete OR suite
State of the art WAR Room
a fully equipped ICU
a Step down room
a complete ED facility
The “Intelligent Hospital ™" section of the Pavilion will provide a practical overview of a variety of technologies seamlessly integrated to provide clinicians with 'real-time' patient information delivered to their smartphones or tablets. Numerous use cases will simulate scenarios from the OR, ICU, Step-down and ED rooms that are part of the “Intelligent Hospital”.
Clinicians will see first-hand how information is collected through the use of data capture technologies and from diverse patient care environments including remote locations. The pavilion will showcase solutions which incorporate auto-ID/Bar code scanning, RFID, RTLS (real time locating systems), Sensors and Wireless technologies. The “Intelligent Hospital™” will demonstrate centralized and distributed methods of managing physiological data and alarms. The Pavilion is focused on raising the level of awareness and educating healthcare professionals.
Reprinted courtesy www.intelligenthospital.org
Editor's Note: If we have the specs for The Intelligent Hospital, can the Intelligent SNF be far behind? BB
Thursday, January 19, 2012
Study the Boomers!
From our friends at Xconomist
Study the Boomers!
Written by Lisa Suennen on Jan 18, 2012 12:02 am
Lisa Suennen
Xconomist Report
The Who once sang, “I hope I die before I get old.” Despite their best efforts to exit the planet early, most of them didn’t. They and their fellow Baby Boomers represent the greatest technology and business opportunity of the 21st Century.
It is typical for each of us to be drawn to areas for which we feel the most affinity. For that reason, most students looking forward see themselves surrounded by people of a similar age while they conjure up products and services attractive to their peers. I teach an MBA class at the Haas School at U.C. Berkeley and so many of the students have great ideas on how to innovate in areas deeply relevant to their day-to-day worlds. The problem is: that is not where the action is. If you are a student today preparing to be the Steve Jobs or Oprah of the next generation, you should be thinking a lot more about what your parents and grandparents need than what would interest your friends.
There are approximately 76 million baby boomers (people born during the years 1945 and 1964). The first of the boomers turns 65 years old in 2011 at a rate of approximately 10,000 people per day, and that trend will continue for the next 20 years. According to the Census Bureau, an estimated 72 million people, or 19.3 percent of the population, will be 65 and older by 2030, compared with 40 million, or 13 percent last year. By 2030, people aged 18 to 24 will represent 9.1 percent of the population, down from 9.9 percent in 2010, according to the Census Bureau. The share of people aged 25 to 44 will drop to 25.5 percent from 26.8 percent. Young people: it is time to start thinking old-you are outnumbered. The best thing you could possibly study is how to conceive of technologies, products, and services that would appeal to the aging demographic—that is where the spending and trending power will reside. “No other force is likely to shape the future of national economic health, public finances and policy making,” analysts at Standard & Poor’s wrote in a recent report, “as the irreversible rate at which the world’s population is aging.”
According to various reports, Boomers already control over 80 percent of personal financial assets and more than 50 percent of U.S. discretionary spending power. A MetLife study shows Boomers stand to inherit over $11.6 trillion in their lifetime in addition to the incomes they make, and the vast majority of Boomers expect to work through their retirement. Boomers already comprise over half of all consumer spending and yes, while they account for over 75 percent of all purchases of prescription drugs and a whole lot of chronic illness (itself a stunningly large business opportunity), they also account for about 80 percent of all travel purchases.
For those of you who think of the Boomers as old and out of touch, note that retirees age 65 and older are the fastest-growing group of social networking site users, according to the Pew Research Center, which adds that over half of baby boomers use social networking sites. If you think that the latest and greatest technology doesn’t apply to the older crowd, you are wrong. New technology is essential to finding ways for Boomers to maintain their vibrancy and independence, as well as ways for us to reduce the skyrocketing costs in our current healthcare system, something that all economists agree is essential to maintaining our national economic viability.
Accordingly, students today would be best served by studying the fields that swirl around and intersect with the fields of gerontology and geriatrics. This means everything from the study of aging in medicine to the study of architecture, engineering and finance as it applies to the Boomer opportunity.
The future of caring for older Americans lays in technology, with vast green field opportunities available in the design of technologies and services that enable extending health and psychiatric well-being. Just one area, Alzheimers’, today costs the U.S. $172 billion annually; by 2020 this cost will be $2 trillion and by 2050, $20 trillion according to recent reports, and that is just one disease that needs innovation, both in treatment and in patient management.
Beyond healthcare, there is a screaming demand for technologies that ensure mobility, enable physical and financial autonomy, provide for social connectivity, and deliver education and work-place skills to those who are looking to their second or third career. People of a certain age don’t want and often can’t use the same products and services that appeal to the young, but also don’t want to buy things that make them feel old. Striking that balance is the innovation opportunity of the next several decades.
Xconomist Report
Comments | Reprints | Share: Retweet Facebook LinkedIn E-mail
Study the Boomers!
Written by Lisa Suennen on Jan 18, 2012 12:02 am
Lisa Suennen
Xconomist Report
The Who once sang, “I hope I die before I get old.” Despite their best efforts to exit the planet early, most of them didn’t. They and their fellow Baby Boomers represent the greatest technology and business opportunity of the 21st Century.
It is typical for each of us to be drawn to areas for which we feel the most affinity. For that reason, most students looking forward see themselves surrounded by people of a similar age while they conjure up products and services attractive to their peers. I teach an MBA class at the Haas School at U.C. Berkeley and so many of the students have great ideas on how to innovate in areas deeply relevant to their day-to-day worlds. The problem is: that is not where the action is. If you are a student today preparing to be the Steve Jobs or Oprah of the next generation, you should be thinking a lot more about what your parents and grandparents need than what would interest your friends.
There are approximately 76 million baby boomers (people born during the years 1945 and 1964). The first of the boomers turns 65 years old in 2011 at a rate of approximately 10,000 people per day, and that trend will continue for the next 20 years. According to the Census Bureau, an estimated 72 million people, or 19.3 percent of the population, will be 65 and older by 2030, compared with 40 million, or 13 percent last year. By 2030, people aged 18 to 24 will represent 9.1 percent of the population, down from 9.9 percent in 2010, according to the Census Bureau. The share of people aged 25 to 44 will drop to 25.5 percent from 26.8 percent. Young people: it is time to start thinking old-you are outnumbered. The best thing you could possibly study is how to conceive of technologies, products, and services that would appeal to the aging demographic—that is where the spending and trending power will reside. “No other force is likely to shape the future of national economic health, public finances and policy making,” analysts at Standard & Poor’s wrote in a recent report, “as the irreversible rate at which the world’s population is aging.”
According to various reports, Boomers already control over 80 percent of personal financial assets and more than 50 percent of U.S. discretionary spending power. A MetLife study shows Boomers stand to inherit over $11.6 trillion in their lifetime in addition to the incomes they make, and the vast majority of Boomers expect to work through their retirement. Boomers already comprise over half of all consumer spending and yes, while they account for over 75 percent of all purchases of prescription drugs and a whole lot of chronic illness (itself a stunningly large business opportunity), they also account for about 80 percent of all travel purchases.
For those of you who think of the Boomers as old and out of touch, note that retirees age 65 and older are the fastest-growing group of social networking site users, according to the Pew Research Center, which adds that over half of baby boomers use social networking sites. If you think that the latest and greatest technology doesn’t apply to the older crowd, you are wrong. New technology is essential to finding ways for Boomers to maintain their vibrancy and independence, as well as ways for us to reduce the skyrocketing costs in our current healthcare system, something that all economists agree is essential to maintaining our national economic viability.
Accordingly, students today would be best served by studying the fields that swirl around and intersect with the fields of gerontology and geriatrics. This means everything from the study of aging in medicine to the study of architecture, engineering and finance as it applies to the Boomer opportunity.
The future of caring for older Americans lays in technology, with vast green field opportunities available in the design of technologies and services that enable extending health and psychiatric well-being. Just one area, Alzheimers’, today costs the U.S. $172 billion annually; by 2020 this cost will be $2 trillion and by 2050, $20 trillion according to recent reports, and that is just one disease that needs innovation, both in treatment and in patient management.
Beyond healthcare, there is a screaming demand for technologies that ensure mobility, enable physical and financial autonomy, provide for social connectivity, and deliver education and work-place skills to those who are looking to their second or third career. People of a certain age don’t want and often can’t use the same products and services that appeal to the young, but also don’t want to buy things that make them feel old. Striking that balance is the innovation opportunity of the next several decades.
Xconomist Report
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Monday, October 31, 2011
ATA Announces Fall Forum Presentation Award Winners
Watch the winning presentations--and more Fall Forum recordings--for FREE on the ATA website
The 2011 ATA Fall Forum in Anchorage was our largest autumn event to date, with 530 attendees and over 500 remote viewers via live conference simulcast. ATA thanks everyone who attended and viewed the event, as well as our exhibitors and corporate sponsors, who made the Fall Forum a great success!
Photos from Fall Forum are available here.
http://www.flickr.com/photos/32054747@N03/sets/72157627826193240/
We also thank the many Speakers and Virtual Presenters at the Fall Forum. ATA asked for the most unique and cutting-edge ideas in telemedicine and our speakers delivered! If you couldn't make it to Alaska, don't worry--you can still see these fantastic presentations! Video recordings of the Fall Forum presentations have now been posted online and are available for free to the public. Click here to view the presentation recordings.
http://www.americantelemed.org/i4a/pages/index.cfm?pageID=3913
While all of the presentations were fantastic, two speakers have been selected as winners of the innaugural Fall Forum presentation awards. Based on feedback from attendee evaulatons, ATA is pleased to announce the following award winners:
MOST INNOVATIVE PRESENTATION
mSinging for Health (Video available soon...)
Andrew Tubman, CMT
Co-Founder and Chief of Music Therapy
Musical Health Technologies
BEST PRESENTATION
Telemedicine via HIE Image Sharing
Julie Hall-Barrow, EdD
Associate Director, Center for Distance Health
University of Arkansas for Medical Sciences
Congratulations to our winners and to everyone else who presented at the Fall Forum. Again, all meeting presentations are now available to be viewed online. Visit www.ATAFallForum.org to view the videos.
The 2011 ATA Fall Forum in Anchorage was our largest autumn event to date, with 530 attendees and over 500 remote viewers via live conference simulcast. ATA thanks everyone who attended and viewed the event, as well as our exhibitors and corporate sponsors, who made the Fall Forum a great success!
Photos from Fall Forum are available here.
http://www.flickr.com/photos/32054747@N03/sets/72157627826193240/
We also thank the many Speakers and Virtual Presenters at the Fall Forum. ATA asked for the most unique and cutting-edge ideas in telemedicine and our speakers delivered! If you couldn't make it to Alaska, don't worry--you can still see these fantastic presentations! Video recordings of the Fall Forum presentations have now been posted online and are available for free to the public. Click here to view the presentation recordings.
http://www.americantelemed.org/i4a/pages/index.cfm?pageID=3913
While all of the presentations were fantastic, two speakers have been selected as winners of the innaugural Fall Forum presentation awards. Based on feedback from attendee evaulatons, ATA is pleased to announce the following award winners:
MOST INNOVATIVE PRESENTATION
mSinging for Health (Video available soon...)
Andrew Tubman, CMT
Co-Founder and Chief of Music Therapy
Musical Health Technologies
BEST PRESENTATION
Telemedicine via HIE Image Sharing
Julie Hall-Barrow, EdD
Associate Director, Center for Distance Health
University of Arkansas for Medical Sciences
Congratulations to our winners and to everyone else who presented at the Fall Forum. Again, all meeting presentations are now available to be viewed online. Visit www.ATAFallForum.org to view the videos.
Caregiver Village News
The founders of Caregiver Village, an online community designed exclusively for those who provide care for anyone with special needs, have just put aside a portion of the launch funding to support caregiving organizations. For every person that joins Caregiver Village, they will donate $1 to that persons organization of choice. The Editors would like to share this news with the readers of Technology For Senior Housing. Check out this link which explains everything:
http://www.caregivervillage.com/social-media
Caregiver Village members connect with friends, participate in book clubs with celebrity authors, journal, play mystery games, solve puzzles, and learn valuable information about caregiving. I would love it if you would join Caregiver Village. If you are able to post or tweet about this then even more people will get the information. Contact Sheila Watson if you have additional questions.
caregivervillage.com
facebook.com/caregivervillage
twitter.com/cgvillage
http://www.caregivervillage.com/social-media
Caregiver Village members connect with friends, participate in book clubs with celebrity authors, journal, play mystery games, solve puzzles, and learn valuable information about caregiving. I would love it if you would join Caregiver Village. If you are able to post or tweet about this then even more people will get the information. Contact Sheila Watson if you have additional questions.
caregivervillage.com
facebook.com/caregivervillage
twitter.com/cgvillage
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