Sanjay Khurana Rock Health Innovation Summit August 22

CAREGIVING

BIGGEST CONCERNS ABOUT LIFE IN OLD AGE

Source: Nielsen Global Survey About Aging, Q3 2013

Caregiving is a larger challenge than just managing health – digital platforms can play a role in disrupting and augmenting traditional business that assist caregivers

CAREGIVING HEIRARCHY OF NEEDS

Care

Evaluation &

Discrete

Assistance

Care Task

Management

Independent Living

Care Coordination

& Discharge

Planning

Long Term Care

Planning

Caregiver

Marketplace

Independent

Living

Care Task

Management

Care

Evaluation &

Evaluation

Discrete Care

Assistance

Long Term

Care

Planning

Caregiver

Marketplace

Care

Coordination

& Discharge

Planning

CAREGIVING & LONG TERM CARE SOLUTIONS

Apps that manage care tasks such as family calendar/notifucation/reminders (Evernote, CareZone, CareMerge, Healthy Circles. PHRs)

Apps/services to help ensure care recipient safety at home/ independent living solutions (Philips LifeLine, Independa, BeClose, Lively)

Care assessment and evaluation tools & services (Angie’s list, Healthgrades, the Senior’s list, CarePathways, Yelp, etc)

Access to individual care workers with vetting components (Care.com, CareLinx, open placement, etc)

Access to discreet care needs such as transportation, grocery shopping, home logistics/chore bartering (Uber, taskrabbit)

Education, information for planning tools for Planning and Paying for LTC (legalzoom, Dignity, Everplans, MyDirectives

Health Coordination/Post Discharge planning (NaviHealth, ILS Health Services, getwell network)

The markets for care task management tools, independent living solutions and post-discharge planning/transition solutions are still in their early development stage with no dominant market leaders

Caregiver marketplace and discrete care assistance service sectors are experiencing the most disruption right now, thanks to startups that shake up these sectors with new technologies and business models

The sectors for care assessment and evaluation and LTC planning are more mature and stable, but they are also fragmented due to low entry barriers

The Caregiver

25%

55%

20%

45-49 50-59 60+

51% 49% 81%

Female 19% male

54 Is the average age

1/2

feel they have no choice in taking on caregiving responsibility

4.6yrs Average Length of Time Caregiving

22hrs Time spent caregiving / week

51% Experience high levels of stress

28% Feel financial burdened

37% receive additional unpaid help mostly from immediate family

This study focuses on caregivers who experience at least some burden this group represents 21% of Americans age 45-65

2 in 3 Care recipients are female

71 Is the average age

11%

26%

21%

42%

18-49 50-69 70-79 80+

55

49

42

33

23

Mobility issues

Old age

Forgetfulness

ArthritisMental/emotional

illness, depression

Top Issues Care Recipients are Facing

53% are parents/in-laws

16% are spouses

45

16 10 8 7 4 3 3 2 2 1 1

5

Care Recipient

Relationship with Caregiver

Caregivers’ emotions …

Photo: © Nielson Research

• They value the time spent in building memories

• Are Indifferent/unaware of designation “Caregiver”. Selflessness trumps title, though legitimatizes the sacrifices to self and career

• Feel an increased financial burden and time commitment to an already existing busy career/family life

• Fear of being ill-equipped on “how to knowledge” to deal with matters of care

• Experienced effects of ignoring oneself; prioritizing others needs over own

• Protective instinct drives desire to not compromise on safety & security

• Keeping loved ones entertained/engaged a key priority From recent ethnography study on online immersion program

Information, tools and tips for caregivers

Caregiving Resource Center

http://www.aarp.org/home-family/caregiving/