Home Health Technology Webinar from 2010 What’s the same…what’s changed?

CEDIA, founding sponsor of NAHB’s Home Technology Alliance (HTA), offers quarterly educational webinars to supplement fundamental concepts highlighted in their joint newsletter.  Moderated by leaders in the industry, these webinars offer insider’s tips to help you and your business take advantage of growing trends.

To this end, CEDIA welcomed Laura Mitchell of GrandCare Systems in Minnesota to share her insight into “Home Health Technology: A $20 Billion Industry.” Throughout this webinar, broadcast on September 1, 2010, Ms. Mitchell explained the impressive target base that currently is or will be shortly interested in home health technology while touching on some available solutions.

As indicated in the title of this webinar, the home health technology field is a $20 Billion industry and growing with many contributing factors. With a baby boomer turning 63 every seven seconds, the target audience for this technology is growing exponentially. While this fact remains undisputed, another fact also plays into the hands of this growing field: this group wants to remain independent as long as possible.

“A study conducted in 2005 indicated that 80% of the respondents would be willing to pay an extra $100/month for services and technology that would allow them to stay independent,” mentioned Mitchell.

Mitchell cited Laurie M. Orlov’s Aging in Place Technology Watch, a market research firm providing thought leadership, analysis and guidance about technologies and related services, while she discussed the four main aging in place technology categories available. Each addressed a contributing factor toward a person’s inability to stay independent. The first category, home safety and security, would attends to the fact that one-third of all people aged 65 and older fall each year. Utilizing a home monitor, care givers or loved ones will be alerted immediately in case of an accident. The second category, learning and contribution, recognizes that people who are connected socially live longer. The third category, health and wellness, relates to the fact that medication management is one of the leading drivers to assisted living and nursing home facilities. Utilizing technology for both cognitive and medication management at home can help prevent the necessity of moving into those facilities. Finally, the fourth category, communication and engagement, relates to utilizing email, video phone, cell phone and PCs to stay in touch and traverse the other categories as well.

Perhaps most importantly, trades need to become educated about the newest available technology and how to use it to service this growing cross-section of our society. The consumers all want this technology, but don’t know how to ask for it. It is imperative that each builder and ESC ask questions to determine which technologies best suit their clients both now and going forward into the future. With the demand and the willingness to contribute monthly income toward technologies to stay independent, it would behoove both builders and ESCs to explore home health technology options.

“We are currently experiencing the largest population shift in history,” said Ric Johnson, Chief Technology Officer of Elite Systems Solutions. “This particular group is much different than the previous generation in that they are technology-driven. Any builder who is ignoring this market is losing out because this generation not only has a lot of equity in their current homes, but also more discretionary income to put toward the technology they desire. Options exist today to allow those in the 50+ market to remodel their existing homes or upgrade to new homes and be fully equipped with home healthcare, entertainment, home safety and communication devices. All of this technology equates to a common goal shared by most people in this cross-section of America: allowing the population to age in place.”

Click here to visit CEDIA’s archive of past Webinars including Home Health Technology: A $20 Billion Industry.

In addition to these quarterly Webinars, CEDIA also offers online CEDIA education classes, which can be accessed here, that NAHB members may take for continuing education credit:

• Introduction to Sub-System Design
• Introduction to Sub-System Control
• Fundamentals of Home Theater Design
• Introduction to Digital Media Servers
• The Designer, the Client, and the Process
• Design Documents
• Project Management Process Flow: An Overview of the PMI Model
• Home Theater Room Design
• Introduction to Project Management

About CEDIA

CEDIA is an international trade association of companies that specialize in designing and installing electronic systems for the home. The association was founded in September 1989 and has more than 3,500 member companies worldwide. CEDIA Members are established and insured businesses with bona fide qualifications and experience in this specialized field. For more information on CEDIA, visit the association’s Web site atwww.cedia.org .