Demographic trends clearly show the “graying” of the US population. Today the number of Americans age 65 and older exceeds 50 million and climbing. People are also living longer with US life expectancy now at 79 years as compared to 1950 when average life expectancy was 68. Numerous articles have been written on the demand this will place on the healthcare system. Per capita health spending for people age 65 or older tends to average three to five times that for younger Americans. Clearly this has become and will continue to be a major challenge for healthcare providers. The following article was lifted from “The Fiscal Times”, March 28, 2017 titled “3 Ways to Transform the Health Care System for an Aging Population”
“Second, shift our approach to elder caregiving, from largely government-subsidized institutional care to private in-home care. The 80+ demographic is the fastest growing segment of our society, and high-quality home care can mitigate the huge costs associated with older adults’ physician visits, hospitalizations, re-hospitalizations and medicine compliance. Done right, this model of home care can also deepen cost savings by deploying modern innovative technologies, such as remote patient monitoring.”
IoTane looks to be the vanguard in the shift to “hospital quality” care at home. The result is better patient outcomes and lower cost burden on the healthcare system. While targeted predominantly at the elderly, the concept of keeping people at home and minimizing the use of acute care facilities until truly necessary works for any patient who requires consistent, high-quality healthcare. This allows people to remain in the familiar confines of their home, allowing both the individual and the caregiver to enjoy a more comfortable and familiar setting without forfeiting the quality of care necessary for treatment.
Until recently, the ability to replicate the quality of care at home was a challenge due to numerous technical reasons. However, with the explosion of connected medical devices and the improvement in wireless connectivity, the ability to provide high quality health care at home is today a reality. IoTane’s legacy of both residential and commercial property automation provides a foundation that we are building on to lead this effort, making homes “smarter” and allowing for a multitude of connected products and services to be deployed.
IoTane views the 5G wireless revolution as a critical component of our home healthcare strategy. This technology provides a much larger “information highway” to the home, allowing healthcare providers to monitor not only the devices in the home but through high quality video cameras and voice connections do “virtual rounds” to assure top quality patient care as well. The goal is to assure the at-home healthcare quality mirrors that of an advanced healthcare facility. Healthcare device manufacturers are already developing new products to bring to market to take advantage of the nationwide 5G deployment already underway.