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Care for the Aged - Long Term Problem or Long Term Opportunity
Wireless Healthcare, Oct 2003, Pages: 13
IT vendors faced with slowing, or flat, corporate and consumer markets could derive valuable revenue growth by building ehealth solutions which provide care for the elderly in their own homes as opposed to hospital. As well, demographic trends indicate that the elderly represent a customer base that will still be expanding in 2050.
Over the next two decades the number of people aged 65 and over is set to rise by 40%. This could see the annual budget for long-term care grow from £11 billion to £15.4 billion. The government recently allocated £100 million to be spent on schemes to ease bed blocking in NHS trust hospitals. Bed blocking or 'delayed discharge' is caused by a growing number of elderly people who need long term care after operations.
This report warns investors and IT companies that some parts of the ehealth market could soften. The pensions crisis, and any future fall in house prices, could reduce the disposable income of tomorrow's senior citizens. At the moment the elderly themselves pay £4 out of every £11 spent on long term care. This figure could fall, hitting suppliers who are targeting the private market for home health monitoring products. As well the government may introduce fines for local authorities whose elderly citizens are causing bed blocking. This may reduce cooperation between local authorities and NHS trusts that are already jointly working on ehealth projects.
Who should purchase this report:-
Pension and insurance companies.
Healthcare providers.
Mobile network operators.
Care home operators.
Government health departments.
eHealth equipment vendors.
Investors in the healthcare sector.
Other organisations active in ehealth provision.
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