by Brook Taliaferro
But if you’re here, you’re probably not stupid. You know how much of our economy is driven by health care costs. Siri helpfully quotes Bloomberg putting it at 20 percent. Total U.S. health care expenditures will reach $4.8 trillion in 2021.
You know that there are already more than 47 million seniors 65 or older in the United States. By 2030, there are expected to be 59 million. Welcome to the Silver Tsunami.
You know that as of 2012, about half of all adults—117 million people—had one or more chronic health conditions. One of four adults had two or more chronic health conditions.
You know that nearly 90% of people over 60 take at least one prescription drug. Thirty percent take five or more.
You know that the old standby of the emergency room is less and less desirable as a a source of chronic care.
You know that the cost of assisted living reached an average of $43,000 a year in 2014 and is expected to top $51,000 by 2020.
Mounting and often unaffordable costs are yet another reason approximately 90 percent of seniors intend to continue living in their current homes for the next five to 10 years, according to AARP.
Yet you also know that there’s a demographic time bomb among caregivers, just as the demand for them surges to allow seniors to stay home. There won’t be enough of them. According to AARP’s Public Policy Institute, the likely available caregivers for the 80-plus population was at a ratio of 7:2 in 2010. In 2030, it will be 4:1.
You know that health technology employed in the home is the only feasible way to fill the looming gap in caregiving. Today, the technology is far beyond the simple “I’ve fallen and can’t get up” PERS pendants. It’s the connected home medical devices that report blood pressure, glucose levels, SpO2, temperature, and weight, etc. It’s the devices that manage medication adherence, and the devices that monitor mobility and even predict falls.
And you know that 67% of caregivers want to use technology to monitor their care recipient’s health and safety—but only one in ten are currently doing so.
What you may not know is that United Publications has been monitoring this market for more than a decade, with calls on early pioneers such as Honeywell and IBM, and with visits to associations in D.C., as well.
What you also may not know is that we produced the first Home Health Technology Summit in March of this year with nine sponsors, 18 speakers and 74 attendees. When asked what was her biggest take away from the event, Maura Toole of Phillips Respironics said, “It’s finally here. Home Health Technology is real.”
That’s why we’ll be reporting on home medical equipment companies, home health and hospice agencies, visiting nurse associations and hospitals with post-acute care facilities using technology to deliver better and more cost effective care. We’ll be reporting on technology breakthroughs, government and regulatory changes, and reimbursement and payment trends.
We hope you join us on this quest to make home health technology the reality we have waited for so long.
No, you’re not stupid. You know the future of health care is in the home.
President & CEO
United Publications, Inc.