Friday, September 24, 2010

Emerging Technologies for the Silver Tsunami estimated at a $20B industry in 2020

A crowd of nearly 100 people joined MassTLC yesterday at UKTI in Cambridge for a lively discussion on "Emerging Technologies for the Silver Tsunami: Aging in Place through the use of Integrated Technology". The day started with a keynote from Laurie Orlov, author of the blog Aging in Place Technology watch. To provide context for the event she offered the following:

- 39 million Americans are age 65+ (senior)
- The fastest growing age segment is the 85+ population
- 10 million seniors live alone
- 25% of families care for someone outside the home*
- Informal caregiving costs are estimated at $60 billion

Laurie outlined seniors wants and needs and also the four "aging in place" technology categories: communication and engagement, health and wellness, learning and contribution and, safety and security.

Laurie was then joined by Andrea Cohen, the CEO of Houseworks, the largest private-pay home care company in New England, and Judy Willet, Executive Director of Beacon Hill Village, an innovative nonprofit organization that helps local residents grow old in familiar surroundings. They both provided an excellent overview of the current market. Judy urged the audience to remember that the market is diverse and it is not a one solution fits all.

Mike Dempsey, Entrepreneur in Residence at MGH and CIMIT, moderated the 2nd panel comprised of representatives from four technology companies. Three start-ups; AdhereTX, BeClose and ElderSync were joined by industry veteran, Philips, who offered their solutions for "aging in place". An interactive discussion with the audience followed including questions from Eran Shavlesky, CEO of MedMinder, Danny Sands, Sr. medical informatics director at Cisco and Serge Kogan, CEO of MassChallenge finalist, g2gConnect.

All presentation can be found here on slideshare.

We look forward to connecting again with the group at the upcoming RoboHealth event preceding The Connected Health Symposium in Boston.