Taking Care of the Elderly Through Digital Technologies

This report analyzes how technology can be used to monitor the fragile and elderly population both in their homes and long-term care facilities. It first analyzes the market needs and interest in aging-at-home technologies, assesses the readiness of the technology itself, followed by close examination of service sectors and potential payment models. The report concludes with forecasts and recommendations for new market entrants.

“Technology has advanced home-based eldercare to a whole new level, but potential beneficiaries are still unaware of it,” said Harry Wang, analyst from Parks Associates. “There is this demand gap to fill, but a technology-stamped eldercare model has to weave through many hidden business risks to truly put the power of technology into seniors’ hands.”

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The Bottom Line

1.0   Notes on Methodology

1.1 Definitions

1.2 Methodology

1.3 Scope of Report

2.0   The Generational Burden

2.1 The Elderly Get Older

2.2 The Sandwiched Generation

2.3 The Resource Crunch—Institutional Long-term Care Market

2.4 To Age at Home

3.0   Analysis of Technology for Eldercare

3.1 Sensor Technology

3.2 Home Networking Technology

3.3 Medical Device and Software

3.4 Communication Platforms

4.0   Living Independently—the Service Aspect

4.1 Personal Emergency Response System (PERS) Service

4.1.1    Emergency Monitoring

4.1.2    Behavioral Tracking

4.2 Chronic Care Management at Home

4.3 Retirement Communities: Market Opportunity?

4.4 Monitoring the Elderly at a long-term Care Facility

5.0   Revenue Model and Business Plan Discussion

5.1 Out-of-Pocket Pay: Drivers and Barriers

5.2 Insurance Coverage: Perception and Requirements

5.3 Private Pay and Reimbursement Medley: Any Chance?

6.0   Market Forecasts and Implications

Resource Book

1.0   Consumer Data and Industry Background

1.1 The Senior Population and Their Health Conditions

1.2 Overview of the Eldercare Market

2.0   Company Profiles

2.1 1-800-MED-ALERT

2.2 American Medical Alarms, Inc.

2.3 American Medical Alert Corporation

2.4 CareGuide

2.5 Dovetail Health

2.6 IgeaCare Systems Inc.

2.7 iMetrikus

2.8 Life Alert Emergency Response, Inc.

2.9 Link to Life

2.10  Living Independently Group, Inc.

2.11  Medical Alarm Concepts

2.12  Personal Response Corp.

2.13  Philips Lifeline

2.14  ResponseLink (subsidiary of Pacific Pulmonary Services Corp.)

2.15  Tunstall

2.16  ViTelNet /ViTelCare

The Middle-Aged are the “Sandwiched Generation”
Facts About U.S. Long-term Care Market
Senior Population’s Familiarity with Digital Technology
Types of Sensors Used in Eldercare Market
Networking Standards Promoted by Continua Health Alliance
ZigBee and Z-Wave
Peripheral Device Categories for Eldercare
Software Developers for Medical Devices
Communication Platforms for Connected Eldercare
Industry Leaders in the PERS Market
Behavioral Tracking Firms and Their Solutions
Hospital Discharges by Principal Diagnosis
Examples of Technology-assisted Disease Management Practices
Total Addressable Market for Eldercare Technologies
Eldercare Market Forecast: the Number of Users by Applications
Revenue Forecast of Eldercare Technology: Hardware & Service
Revenue Forecast of Eldercare Technology Market by Market Segment
Senior Households as a Percentage of All U.S. Households
U.S. Seniors’ Annual Household Income
Types of Residence for U.S. Seniors
U.S. Seniors’ Health Conditions
U.S. Seniors’ Exercise Frequency
Percentage of Senior Households with Fitness Club Membership
Summary Table: Technologies Offered by Companies Profiled in the Report

Publish Date: 3Q 2008

Pages: 85


Authored By:
Harry Wang - Director, Health & Mobile Product Research

Authored by Harry Wang
Executive Editor: Tricia Parks
Published by Parks Associates

© September 2008 Parks Associates
Dallas, Texas 75230

All rights reserved.  No part of this book may be reproduced, in any form or by any means, without permission in writing from the publisher.

Printed in the United States of America. 

Disclaimer
Parks Associates has made every reasonable effort to ensure that all information in this report is correct.  We assume no responsibility for any inadvertent errors.

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