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The cost of long-term care -- could technology help lower it?

Aging in Place Technology Watch

Consider the Genworth data (see Figure 1 ) showing that it cost $108,405 for a private room in a nursing home in 2021, $61,776 for home health aide services, and $54 ,00 0 in assisted living. Note that Medicaid pays between 45-65% of nursing home costs in most states. What role can technology play in lowering the cost of care?

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Who knows the current population and age distribution of older adults?

Aging in Place Technology Watch

See Figure 1 ). million live in nursing homes – where the most common condition is dementia. Figure 1 US Census Population Estimates as of 12/2023 Age Population Male Female 65+ 60.5 million category tags: AgeTech , senior living , Skilled Nursing Facilities (SNF) , seniors and aging policy million, of which 33.2

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Asking Bing and ChatGPT about AI-enabled technologies to help older adults

Aging in Place Technology Watch

Some examples are: Remote home monitoring: Elder care robots that can assist nurses and caregivers to focus on the elderly person’s needs 1. Smart implants: Devices that can monitor vital signs, blood glucose levels, or medication intake 1. category tags: Generative AI , fall prevention, fall detection

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CENSUS: Senior care growth means tech change will be mandatory

Aging in Place Technology Watch

Figure 1 Estimated revenues from care related services 2013-2020. For both assisted living and nursing homes, checking in on residents at night while they are sleeping may still be the standard of laborious practice. category tags: AgeTech , senior living. Census Bureau projects that in 2050, the U.S.

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It’s 2022 – has technology use progressed in senior care?

Aging in Place Technology Watch

We know that one of the biggest issues in senior living (and home care, nursing homes, home health care) today is a shortage of labor. This roll-up of statistics shows more than 400,000 employees lost between 2020 and 2022, with long-term care facilities (aka nursing homes) being the most impacted.

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Did you miss anything? Four Aging and Tech Posts from July 2022

Aging in Place Technology Watch

Many people do not remember much about January 1, 2000, the day all systems that stored 2-digit years would become useless calculators. Experts in the industry (perhaps consultants to the carriers) say "that there will be a mere few hundred thousand customers impacted at each carrier, totaling fewer than 1 million people."

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Covid-19 – Technology changes accelerate – some a work-in-progress

Aging in Place Technology Watch

But nursing homes, specifically? In 2018 and 2019, infrastructure topped the list of investments for surveyed organizations, particularly multi-site campuses that might include nursing homes. category tags: Telehealth-mHealth-Voice Health , senior living , social isolation , SNF.