Did you know that 55% of US broadband households own at least one connected health device, such as a smart watch or pulse oximeter?
Parks Associates recently hosted the session Independent Living: Opportunity for Smart Home Platforms, part of its Connected Health Summit virtual series. The session addressed the latest innovations, challenges, and opportunities with the integration of connected health products in the home. Attendees also gained insights on smart home platforms that leverage the expanding ecosystem of connected devices in the home to serve residents’ health and safety needs. Mark Vena, Senior Director, Smart Home and Strategy, Parks Associates, shared some of the key trends that are creating tremendous opportunities for smart home technologies in the independent living space. He listed the four types of smart technology solutions that have broad appeal in the independent living space:
- Personal Emergency Response Systems (known as PERS)
- Smart watches
- Professionally installed sensor systems
- Smart speakers/smart displays
“Seniors and their caregivers are largely embracing the promise of these smart home capabilities as part of a 21st century independent living lifestyle,” Vena said. “More options and more choices are helping to expand the overall market, and the stage is being set today for the elderly to maximize their quality of life safely and productively.”
“The patient is being more proactive and is more accepting of technology in the home,” added Josh Locke, Vice President, Essence USA, during his visionary insight presentation. “Communication from and to devices is becoming easier and much more powerful. Providers/payers are taking a more holistic approach to patient care. This to me has been the largest missing trend pre-pandemic.”
The virtual session also featured an executive Q&A with Adam Sobol, CEO, CareBand. “For years, we have been talking about the promise of smart technologies empowering older adults to age-in-place, but until recently, there hasn't been the infrastructure to support these technologies,” Sobol said. “With the introduction of Amazon Sidewalk, MATTER, and Wi-Fi Sensing, the promise is turning into a reality.”
The session concluded with the interactive panel Value Proposition Expansion: Smart Home and Healthcare featuring industry leaders from ADT, Mayo Clinic, Anthropos Digital Care, Alarm.com, and HandsFree Health.
“This isn’t an end-of-life solution anymore,” said Lainie Muller, Director, Health & Wellness, Strategic Sales, Alarm.com, during a panel discussion. “Now it’s like, how do we extend one’s life at home, but how do we make sure their quality of life is great?”
The Independent Living: Opportunity for Smart Home Platforms session is available on demand here. Join Parks Associates and 1,000+ industry executives on December 1 at 12:30 p.m. CT for the Connecting the Dots: Interoperability and Health Data session to learn more about the billing process and consumer experience, the array of regulations and compliance issues, the challenge of integration between various devices and services, and new emerging technologies.
