McKinsey - barriers to aging in place

Good summary of key success factors in aging in place technologies in the current McKinsey Quarterly.

"In the United States, home care accounts for about 3 percent ($68 billion a year) of national health spending. The market is increasing by about 9 percent annually, solid but hardly booming growth, especially since labor (mainly nurses and aides) accounts for about two-thirds of the expenditure and home-monitoring technology represents a small fraction of it. What’s holding the market back? We observe a daunting array of financial and operational barriers, including the misalignment of incentives between payers and providers, the need to demonstrate a strong clinical value proposition, and the problem of designing attractive, easy-to-use products that facilitate adoption by patients."

They boil them down to financial, effectiveness and accessibility factors:

Financial factors

1. Alignment between payers and providers.

2. Remunerative. (return on investment)

Effectiveness factors

3. Having significant impact. 

4. Actionable. 

5. Timely. 

6. Closed loop. (to verify whether effective actions or treatments actually occurred).

Accessibility factors

8. Repeatable. 

7. Usable. 


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