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From The Lab to the Living Room. Deploying New Technologies for the Growing Home Healthcare Market Thursday, March 9, 2006 Rob Scheschareg President Intuitive Care Advisors. Welcome. Today’s Objectives Important Trends Beyond the Macro Case Studies – the market’s emergence now - PowerPoint PPT Presentation
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From The Lab to the Living Room
Deploying New Technologies for
the Growing Home HealthcareMarket
Thursday, March 9, 2006Rob SchescharegPresidentIntuitive Care Advisors
Welcome
Today’s Objectives Important Trends Beyond the Macro Case Studies – the market’s emergence now How To Make Money Opportunities and Challenges for Business Growth
Today’s FormatToday’s Agenda
AgendaTomorrow’s Home Environment
Product Designs Technology Platforms Wireless
Business Models Reimbursement Partnership Opportunities
Risk Management Legal & Liability Issues
The Consumer PerspectiveThe Decision-Maker
46 year old, college educated Female Providing 20+ hours per week caring for an ill mother (Kaiser Family Foundation) 7 million Americans responsible for the care of an elder who lives on average
300 miles away (ADT Security Services Survey 3/05) 50% of all caregivers spend 46 hours/week on average to care for family
members (ADT Security Services Survey 3/05)
The Audience: Caregivers and Digital Ready Consumers
44.4 million caregivers (caring for someone 18+ yrs old) (AARP, National Alliance for Caregiving)
45% of US homes have at least one HH member managing a chronic disease; 22 million households care for an elder w/chronic condition
Digital Ready Consumers With a chronic condition Broadband connection or home network Wireless communication device (cell, smartphone, PDA) 13% of today’s seniors (Forrester)
The Market
Advanced Home Healthcare Market $500m in 2005 $2 bil+ within 36 months $28.7 bil the following 36 months (Forrester Research)
Initial Revenues from Consumer Self-Pay $250+ bil spent out-of-pocket on healthcare in ’03 $7 bil out-of-pocket on home healthcare alone in ’03 (CMS) 90% willing to spend $50+ per month; 50% willing to spend $100+
per month (Center for Aging Services Technology, 2005) Financial Incentives/Cost Benefits & “Healthcare Consumerism”
In 2003, average daily hospital charges = $3,838/day Skilled Nursing Facility = $499/day Home Health visit = $109/visit (CMS, Social Security Administration)
Limited Validation of Consumer Self-Pay Models 3rd Party Payer Reimbursement Still Slow
The Rate of Development
Growing Study of Telemedicine and Home-based Healthcare (356 clinical studies; 2x growth in MEDLINE articles)
Increasing Support and Proof of Improved Diagnosis, Clinical Management and Outcomes Increasing Level of Interest from DTC Channels
Installers & Integrators of Home Security & Automation Systems Retail Pharmacies Home Healthcare Agencies
Expansion of Services from Medical CentersIncreasing Investment from Private and Public Sectors
Academic and Corporate Labs Demonstration Projects IT and Life Sciences Leadership
Let’s Get Started
Rob SchescharegPresident
Intuitive Care Advisors
(508) 663-1500 x242
