Caregiving Tech—The Megatrend With Mega Opportunities: Jody Holtzman, AARP (Digital Health Summit...

Post on 16-Feb-2017

281 views 0 download

transcript

Caregiving Innovation Frontiers: The TrendsJody Holtzman, SVP, Market Innovation

CES Digital Health Summit January 7, 2017

Macro Trends

PATIENT/CONSUMER-CENTERED CARE

CONSUMER ENGAGEMENT

FOCUS ON PREVENTION

FROM VOLUME TO VALUE

2

Defining Caregiving

Daily Essential Living

Health and SafetyAwareness

CareCoordination

TransitionSupport

SocialWell-being

CaregiverQuality of Life

Six Areas of Opportunity

Daily Essential Living

Health and SafetyAwareness

CareCoordination

TransitionSupport

SocialWell-being

CaregiverQuality of Life

Meals, Home & Personal Care, Home Repair,Delivery, Transportation Services

Health Vitals Alerts, Diet & Nutrition, MedicationManagement, Personal Safety Monitoring, Telehealth

Care Planning, Care Professional Engagement, Records/Benefits Mgt, Recovery Support

Home Retrofit Svcs, LTC Insurance Planning, LTC Provider Referral, Legal Assistance, Hospice Planning

Digital Inclusion, Life Enrichment & Empowerment,Community Networking, Life Companions

Respite and Backup Care, Social Support, Health & Wellness, Financial/Job Security

Strong GrowthRevenue Forecast 2017-2021: $308 billion (up from

$279 billion)

Daily Essential Living

Health and SafetyAwareness

CareCoordination

TransitionSupport

SocialWell-being

CaregiverQuality of Life

Strong Consumer Spend

CONSUMER SPEND (CAREGIVER AND CARE RECIPIENT) IS OVER 80% OF THE $308 BILLION IN CUMULATIVE REVENUE

AVERAGE OUT OF POCKET SPENDING PER CARE RECIPIENT IS FORECAST TO INCREASE 69% 2017-2021 TO OVER $509 PER YEAR

6

Ecosystem Growth TOP SHELF VENTURE FIRMS ARE INVESTING IN CAREGIVING

– A16Z, OAK HC/FT, KAPOR CAPITAL, etc

IN TWO YEARS, 3 CAREGIVING STARTUPS ATTRACTED OVER $130 MILLION IN VENTURE INVESTMENT

200 CAREGIVING STARTUPS APPLIED TO INNOVATION50+ LIVEPITCH

7

SMART SENSORS, VOICE, AND CONNECTED DEVICES

MOMENTUM IN ON-DEMAND CARE

THE SPREAD OF PLATFORM-AS-A-BUSINESS

REIMBURSEMENT AS A REVENUE MODEL

Opportunity Trends

Put the Consumer at the Center FOCUS ON ASPIRATION, NOT DECLINE

OLD IS ANOTHER 17 YEARS, WHATEVER YOUR AGE

ONE SIZE DOES NOT FIT ALL

ADD ANALOG MODELS TO TECHNOLOGY SOLUTIONS

EVERYONE HAS A SENSE OF DIGNITY

9

Six Areas of Opportunity

Daily Essential Living

Health and SafetyAwareness

CareCoordination

TransitionSupport

SocialWell-being

CaregiverQuality of Life