A recently published white paper from Ziegler, a specialty healthcare investment bank, that actually does what it says –deconstruct the US telehealth (and telemedicine) industry. It also constructs a framework of ‘who does what’. Good graphic and text (but not infographic, mercifully) detail on the shareholders, barriers, tailwinds and future state, plus financial/acquisition participants and a compact growth history. Article here on Benzinga, or go directly to Ziegler to download.
Companies and investors are waking up to the potential of technology to assist both older people, wherever they live, and families to keep in touch, live more safely and to compensate for impediments created by physical or cognitive conditions. Ozy, an online news aggregator new to this Editor, notes the $5 trillion annually that boomers and older adults spend in what’s termed the ‘new old-age economy’ (AARP has previously termed it the ‘longevity economy‘) and that there’s money in tech solutions to their problems. Examples: the Lift Labs [TTA 1 Oct 13] stabilizing food utensil that cancels out most active tremors (as in Parkinson’s) while eating; Caremerge which has EHR, care coordination and secure messaging features for the care team in long-term and transitional care, but also connects families with a smartphone app and residents with reminders; GeriJoy [TTA 3 July 14], a tablet that combines an interactive pet avatar/companion with engagement, reminder and education tools for older and cognitively impaired adults.
While we’ve noted many developments along similar lines over the past ten years, interest and financial backing is aligning. (more…)
Compliance ruled at Health 2.0’s Traction: Startup Championship at their annual meeting in Santa Clara, California. Mobile med reminder app MediSafe won the consumer-facing company ‘bakeoff’ and Frame Health, a big data analytics company which uses psychology to predict non-compliance, the provider-facing competition. Both competed in their class against four other companies and were judged by big-money VCs and mentors from ED Ventures, HealthTech Capital, Merck, AARP, Ziegler and others. The action also seems to be moving away from startups, as this competition was for Series A level companies with clients and real business, positioned for next round funding in the $2-12 million range. (more…)
LeadingAge, the main association for non-profit ‘aging services’ providers, hosted a ‘hackathon’ of sorts called HackFest at its annual convention last week. Eight international teams of students were given a 24 hour challenge to come up with an idea and create a prototype application, device or website. The winner was Team Global EngAge who developed a platform for retirement communities to offer their activities–book clubs, religious services and clubs–online so that home-bound elderly can participate via video conferencing. The purpose of the hackathon was to focus on technology needs in senior services and was sponsored by investor Ziegler and Asbury Communities. Unfortunately neither McKnights or LeadingAge list or explore the seven other concepts, which would have been interesting as all these teams can look to further develop and fund their ideas.