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What’s the Market Potential for Home Health?
90 percent of baby boomers say they want to age at home, not with relatives, in a nursing home, or at an assisted care facility.
According to AARP, when baby boomers are asked where they want to live as they age, 90 percent say, "In my home."
They do not want to live with relatives, in a nursing home, or at an assisted care facility.
With this popular desire to remain at home comes great financial savings because every month a person stays in their own home as opposed to a an assisted living facility, that person can save $3,000 to $5,000 per month.
This leaves money available to invest in enabling technologies to keep seniors at home, safe and independent.
"Two-thirds of all men and women who have lived beyond the age of 65 in the entire history of the world are alive today," according to Elizabeth Vierck's "Fact Book on Aging."
This includes 45,000 Americans over 100. In the year 2000, there were 35 million seniors, a figure that is expected to double by 2030.
By 2050 there will be more than one million people over 100 years of age. Americans over 85 are the fastest-growing segment of the population, according to the National Institute on Aging.
Families are assuming old-fashioned personal responsibility for aging family members, and they're going back to the future to do it.
Facilities provide living arrangements to mimic family living, but more and more, seniors are actually "aging in place."
Senior citizens fear moving into a nursing home and losing their independence more than death, according to a Clarity 2007 "Aging in Place" study.
The study also found that among baby boomers, 82 percent fear their parents will be mistreated in a nursing home, and 89 percent worry their parents will be sad.
Two-thirds of baby boomers said that financial problems were not likely to prevent their parents from remaining in their home, and 70 percent are concerned that their parent might be scared to leave their home.
While 49 percent of baby boomers are at least somewhat interested in using new technologies to help monitor their parents' safety, 65 percent say they would like to use new technology, and 54 percent would consider sensors to monitor health and safety.
They do not want to live with relatives, in a nursing home, or at an assisted care facility.
With this popular desire to remain at home comes great financial savings because every month a person stays in their own home as opposed to a an assisted living facility, that person can save $3,000 to $5,000 per month.
This leaves money available to invest in enabling technologies to keep seniors at home, safe and independent.
"Two-thirds of all men and women who have lived beyond the age of 65 in the entire history of the world are alive today," according to Elizabeth Vierck's "Fact Book on Aging."
This includes 45,000 Americans over 100. In the year 2000, there were 35 million seniors, a figure that is expected to double by 2030.
By 2050 there will be more than one million people over 100 years of age. Americans over 85 are the fastest-growing segment of the population, according to the National Institute on Aging.
Families are assuming old-fashioned personal responsibility for aging family members, and they're going back to the future to do it.
Facilities provide living arrangements to mimic family living, but more and more, seniors are actually "aging in place."
Senior citizens fear moving into a nursing home and losing their independence more than death, according to a Clarity 2007 "Aging in Place" study.
The study also found that among baby boomers, 82 percent fear their parents will be mistreated in a nursing home, and 89 percent worry their parents will be sad.
Two-thirds of baby boomers said that financial problems were not likely to prevent their parents from remaining in their home, and 70 percent are concerned that their parent might be scared to leave their home.
While 49 percent of baby boomers are at least somewhat interested in using new technologies to help monitor their parents' safety, 65 percent say they would like to use new technology, and 54 percent would consider sensors to monitor health and safety.
Home Health
 | How to be a Home Health Technician Learn from one integrator uses traditional security products to help hundreds of elderly and disabled individuals live independently. Innovative Services: Tracking Home Health Activity Using SimplyHome technology, Innovative Services has experienced overall cost savings of about 40 to 70 percent. 5 Steps to Home Health Tech Home healthcare/remote monitoring is going to be a booming business. But how do you break into that category? Is Home Health Tech Really for Integrators? CyberNet Solutions co-owner Paul Ebaugh says the company views itself as strategic partners with GrandCare Systems, a manufacturer of home health care products. What's the Market Potential for Home Health? Studies show more and more baby boomers want to age at home, meaning there's a market out there for Home Health. The 5 Home Healthcare Technology Categories Remote home healthcare technology can be broken into five broad categories: patient monitoring systems, telehealth/telemedicine, medication compliance tools, A/V communications solutions and electronic health records. | |
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Stop and Visit us at CEDIA: 4072
We are educating in various panels & on the floor educational sessions - topic HOME HEALTH TECH.
Booth 4072 (Thurs Sept 23 - 26) free and open to all cedia attendees: For a complete listing of CEDIA Home Health Tech Schedules: http://wp.me/pyOLA-7U
Thanks and hope to see you at CEDIA!
GrandCare Systems Team