[Digital Health Report] HealthXL & AARP: Enabling Connected & Independent Living Through New Care Models - 3 Key Takeaways
Across the globe we are facing an unprecedented health challenge. Elderly population numbers are outpacing younger generations with more people in extreme old age than ever seen before.
We are being firmly nudged to seriously consider the key role digital solutions can play in increasing quality of life and independence of these growing populations. If we effectively design, integrate and partner to roll out these solutions they hold incredible promise to reduce the increased burden on healthcare systems and mitigate against disability and dependency to allow caregivers and elderly populations to enjoy the best possible quality of life.
We are delighted to announce the release of our most recent report 'Enabling Connected & Independent Living Through New Aged Care Models'. This investigation was completed as a collaborative effort with HealthXL Members AARP and the expert insights of a number of key opinion leaders offering clinical and investment insights.
Before you jump in here are three key takeaways from the report:
1. Innovators Focused On Senior Care Must Be Thoughtful About Their Revenue Model
"In the US Medicare & Medicaid face cost pressures and places limitation on coverage of newer digital health solutions, an issue compounded by a lack of strong cost saving evidence by digital health players.
Costly solutions, such as remote monitoring approaches, may be untenable for a direct-to-consumer model due to high price points, result of higher price points, often leaving solutions to experiment with at-risk revenue models.
Startups building senior care solutions often have to be resourceful and implement a mixed business model combining several payment models to optimize operations."
2. Multiple Stakeholders Have A Role To Play In Helping Seniors Thrive
There is no one stakeholder that will hold the silver bullet for scaling new models of aged care - this will have to be a collaborative effort. From start-ups to regional provider systems to non-health industry players there is a potential role to be played in order to provide different facets of care and support.
3. Universal Design Approaches Result In Solutions Usable By All, Including Seniors
“The market size for startups that serve 65+ could be further expanded if they take a Universal Design approach -- i.e. design products/services that are super easy to use for all people (not just older adults, but also middle age people with disabilities, busy working moms, stressed out students, etc.).”
Dr Wen Dombrowski Geriatrician, Informaticist & Chief Convergence Officer at Catalaize