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Charlie and Gaytha Hillman with their seven grandchildren
Charlie and Gaytha Hillman’s latest success story began with a nearly tragic furnace fire in the home of Charlie’s great aunt Clara back in 1993. Although she had sensed something was wrong, 89-year-old Clara, typical of older adults who live alone and protect their independence, “didn’t want to bother anyone.”
After rescuing his aunt and being shaken by her close call, Charlie put his MIT training and engineering inquisitiveness to work to come up with a solution. He outfitted Clara’s home with the nascent GrandCare product consisting of basic sensors and even a device to automatically turn on The Lawrence Welk Show, her favorite TV program. Although the technology was primitive by today’s standards. Clara was now safe, happy and continue living independently at home for the rest of her life.
And Charlie began to imagine the possibilities.
Having sucessfully started technology businesses since the 1980s, the Hillmans returned after some years to the idea of innovating that early version of their monitoring system. Their innovations were so good and so timely that they were invited to the 2005 White House Conference on Aging. In llate 2006 Charlie and Gaytha offically launched GrandCare Systems™ LLC for use in private homes and community care settings. Their mission? To provide high-end technology products and services to improve the lives of the aging and those who care for them.
Did you miss today’s GrandCare Tour??? Below is some information that we went over during the TOUR!!!
Good news! We have recorded it for your viewing!!!!!!! View and/or download HERE!
5-11-11 GrandCare TOUR Bus STOPS:
1. Meet the founder Charlie Hillman
2. West Bend, WI — Exploring the history of GrandCare
3. GrandCare Corp Showroom – Saw the various models and sensor types
4. Met Henry – a 72 year old male.
-Lives alone at Home
-Has the Interactive GrandCare System
– SKYPES with his grandkids
– Plays Solitaire on GrandCare
– Watches YouTube Videos, Checks Weather Reports, Looks at Photo Albums
– Manages his own wellness by taking his weight, blood pressure and glucose readings. System automatically tracks them.
– Does not have a personal computer and does not want one
5. Met Jane (Henry’s 50 year old daughter)
– Lives 8 miles from Henry
– Manages his vitals and looks at his glucose readings
– Receives Alerts at work
– Uploads all of her pics to Facebook (Automatically go to her dad’s system as well)
– SKYPES with her dad
6. Tour of the Virtual ONLINE Caregiver Interface
– Adding Communications to the GrandCare Screen or TouchScreen
– Looking at Graphs
– Setting up Rules/Parameters
7. Question/Answers
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Early-stage investors in traditional healthcare companies are certainly having a tough time these days. Many biotech, diagnostic and medical device firms have simply become too risky, as the current uncertain FDA regulatory environment increases cost and time to exit. In fact, venture funding for these companies fell during the fourth quarter of 2010 to the lowest level since 2003, and the number of deals dropped further in the first quarter of 2011, according to PricewaterhouseCoopers.
This overhanging “exit challenge” is leading many angel investors and venture capitalists to seek new types of investments – companies with lower capital requirements and faster exits. Nowhere was this quest more evident than at the 2011 Angel Capital Association Summit, a premier angel investor event, held last month in Boston.
During the event, I participated on the “Future of Life Science Investing” panel, where the discussion quickly left traditional life sciences and zeroed in on what is emerging as the next big investment opportunity arena: healthtech.
Don Ross is managing director and founder of HealthTech Capital, an angel investing group that funds and mentors early-stage companies in the emerging healthtech domain.
Healthtech companies use mobile, cloud, and other information technologies to increase healthcare delivery efficiencies and deliver consumer-centric applications. Unlike traditional “health IT,” healthtech companies target applications everywhere along spectrum of health and wellness—from in-hospital workflow to in-home monitoring to consumer wellness applications.
Healthtech markets are propelled by technical advancements, an aging population, and government regulations and subsidies to drive adoption of electronic medical records. And, although the FDA is turning its attention to healthtech, most companies in this sector are expected to face comparatively low regulatory requirements.
How big is the healthtech opportunity? Data from the Centers for Medicare & Medicaid Services (CMS) show that the U.S. spent $2.5 trillion on health care in 2009. Of this, 84 percent was spent on healthcare delivery, which includes costs associated with clinicians and insurance companies. In contrast, only 16 percent was spent on therapeutics, including medical devices and drugs. Although venture investors traditionally have put their money into therapeutics rather than delivery, the balance is shifting.
In fact, healthtech was a “star” topic at the recent J.P. Morgan Annual Healthcare Conference in San Francisco, where panelists included Eric Schmidt, Google’s then-CEO, and other technologists not typically associated with health care. Further evidence of the shift in investor attention towards healthtech is the recent establishment of HealthTech Capital, the first angel investing group to focus exclusively on this space. Barely a year old, the group’s membership already is larger than many long-established angel groups and includes individual investors, VCs, corporate venture arms, and healthcare providers.
Healthtech is a complex domain, with several factors that can make or break a company. Existing contracts and relationships may have locked up a market segment. Standards of proof are much higher than in the tech world. Lack of reimbursement can kill a company. A sale often must address a multi-part customer with separate value propositions for the patient, doctor, hospital, and insurance company. Improving patient care alone is insufficient. One physician put his requirements for new technologies to me succinctly: “Will I get paid, and will I get sued?”
“There is a consumer need for education about products and services for the aging, and how to qualify and access them; this is why we created the AgeTek.org site and blog as a hub to make all of these possible.”
The Aging Technology Alliance (AgeTek), the aging-focused consortium of home heath technology companies launches today its website, http://www.AgeTek.org, to support members and serve consumers seeking technology products and services which are senior-friendly and that will aid in aging-in-place.
The U.S. digital health market is expected to reach $5.7 billion by 20151. AgeTek recently formed out of the common goal of companies leading the development of new products and services for aging-in-place, to make it easier for family caregivers who need and want these solutions to find them. The newly-launched website, http://www.agetek.org, features a senior product finder search function to help caregivers find unique solutions to the challenges of helping family more safely and comfortably age in their own home, or for those who are interested in senior-friendly products for a loved one, especially during the Mother’s Day gift-giving season (http://www.agetek.org/mothersday).
Items in the product finder are segmented into categories: communications and engagement; health and wellness; safety and security; learning and contributions, and aging-in-place and caregiving.
Also launched simultaneously is the AgeTek blog (http://www.agetek.wordpress.com) written by a growing roster of contributing authors, including several AgeTek board members. The blog content turns a spotlight on the various aging-related issues being met by the digital health market, and the innovation in that space.
“With 13% of the U.S. population age 65 and older – a number projected to jump to 20% by 2030 – and the 85 and older cohort being our population’s fastest-growing age segment, there is a consumer need for education about products and services for the aging, and how to qualify and access them; this is why we created the AgeTek.org site and blog as a hub to make all of these possible,” said Peter Radsliff, CEO, Presto Services and chairman of the board, Aging Technology Alliance. “For members, the site supports the awareness, benefits and value of products and services of our aging society. We intend to evolve into the world’s leading aging-focused technology consortium; a mandate of no other organization.”
It’s an exciting week in San Francisco! The American Society on Aging & What’s Next Boomer Summit are happening Wednesday – Saturday!
GrandCare’s own Laura Mitchell will be speaking 3 times during the week. Below are some notable agenda items this week in San Francisco. Hope to see you there!!
ADD THESE GREAT EVENTS THIS WEEK TO YOUR ITINERARY:
TH495
Workshop – New Look at Technology for Older Persons
Felice Eckhouse
Gene Loeb-Aronin, PhD
Laura Mitchell
TH583
Workshop : Back Home To Stay
Friday
..The Eighth Annual What’s Next Boomer Business Summit Sponsored by AARP and AARP Services, Inc. Friday, April 29, 2011 8:00 am – 5:30 pm Parc 55 Wyndham Hotel San Francisco, California 7:00 am | REGISTRATION OPEN | COFFEE AND REFRESHMENTS 8:00 - 6:30 pm | TABLE TOP EXHIBITS OPEN | BOOKSTORE OPEN 4:30 - 5:30 pm | BREAKOUT SESSIONS Maximizing the Online World Build an interactive tool box for marketing your business! From email to Google, Twitter, and what's in all worlds online to social media platforms, unlock the potential for your company. Our experts show you how to harness the power. Moderator: Laura Mitchell, Vice President, Marketing, GrandCare Systems Panelists: - Joe Cannella, Senior Account Manager, Google - Nataki Clarke, Vice President, Marketing, AARP - Stephen Chen, Founder, NewRetirement.com Hope you can join us!!!!! FULL What's Next Boomer Summit Schedule: http://www.boomersummit.com/agenda.html
Adults with elderly parents who are frail can help them continue living at home, even if their mental or physical health is deteriorating.
It’s important for baby boomers to know about things like this. We may have a mom or a dad who is aging quickly, or we’re starting to think about our own vulnerabilities.
Also, there’s a chance we’ve visited an assisted-care facility. Even the nicer ones make us feel uncomfortable.
Too often we think of them as places where people go to die. Most of us would love to keep our parents in their own homes for as long as possible.
A new system, available at Evolution Independent Living in Agoura Hills, enables parents and caregivers to communicate with and monitor the health and activities of their older family members.
When a parent with declining health cannot care for themselves completely and an adult relative cannot help them full-time, we generally must choose from two options: 1. Place them in an assisted-living facility. 2. Hire full- or part-time caregivers.
Evolution Independent Living offers a third choice.
Jim Alexander, CEO of Evolution Independent Living, told me that a nursing home can cost between $6,000 and $20,000 per month, depending on the environment, amenities and services. Professional caregivers are also expensive, and the cost varies depending on their expertise and the number of hours they work.
HIGH-TECH—Above, Leon Frank with Evolution Independent Living shows how the GrandCare System transmits blood pressure rates.
An Evolution Independent Living
System ranges from $3,000 to $6,000, which includes installation and programming.
The final cost is determined by the system that’s needed and the size of the person’s home. Systems can also be leased for $150 to $400 per month for two to four years.
Alexander describes Evolution Independent Living as the “Grand- Care” system. It allows aging seniors to stay in their own home, instead of being forced to move into a new environment.
The centerpiece of the system is a 15-inch touch panel. It’s easily operated and is more user-friendly than a computer or a smartphone. The senior simply touches the screen to select topics such as email, news or entertainment. T h e touch panel can be equipped with a built in camera to accommodate two way Skype capability, so parents or caretakers can communicate via video.
Family members and caregivers can use computers, iPads or smartphones to access the system.
Children and grandchildren can send videos and digital images.
Small sensors keep track of all activity inside the home. If it’s Mom you’re looking after, you can tell when she went to bed, got up, her medicine or visited the bathroom.
If she has high blood pressure, the system can record it, and a graph will show her blood pressure for several months. The same information is available to a parent or caregiver on their remote device.
Mom wears a pendant around her neck. If she falls, she presses a button that sends an audible alarm through the system to designated caregivers or loved ones who are immediately alerted.
The alarm and message also appear on smartphones and computers.
If Mom is incontinent, a sensor in her bed can signal that she’s had “an accident,” so a caregiver can respond immediately.
A sensor at the door will tell when Mom leaves home and returns.
If Mom gets dementia or Alzheimer’s disease, she’ll need assisted living or full-time caregivers, but if her quality of life can be extended by staying at home for as long as possible, it’s worth considering.
Jim Alexander, CEO of Evolution Independent Living, demonstrates the brain exercise feature. RICHARD GILLARD/Acorn Newspapers
The Evolution Independent Living System is on display in a simulated apartment. Call (818) 879-0240 to see it at Evolution Audio & Video, 5341 Derry Ave., Suite S, in Agoura Hills, east of Kanan Road, off Canwood Street, in the northwest corner of the complex.
Steve Holt, former Acorn editor who retired last September, can reached at stevencholt@gmail.com.
See the article here at The Acorn.com
JOIN US! All are welcome! AgeTek Members and non members welcome!
No host Meet & Greet PRE-ASA Conference
Wednesday April 27th, 2011 7pm
Where: Johnny Foleys – http://www.johnnyfoleys.com
243 O’Farrell Street
San Francisco, CA 94102
415.954.0777
Why: To get together, network, learn more about the Aging Technology Alliance and have a good time.
NO RSVP needed! Just stop in!
Hope to see you there!!!!
Laura Mitchell, VP Marketing, GrandCare Systems (AgeTek Board Director)
Going to ASA? M Listen as Laura Mitchell, Dr. Gene Aronin and Joel Shapira discuss the future of aging. Using technology to “age in place”
Thursday April 28, 2011: 1:00 PM – 2:00 PM
2. Participants will identify resources for locating technology and give examples of technological devices and their sources, and innovations in new technology; state the benefits in bridging the digital gap to enable diversity in the availability of technology.
3. Participants will identify federal legislation and mandates influencing care of elderly such as remaining at home as much as possible, and coordination of caretakers and medical personal in sharing of information and roles and the practical effects upon the use of technology for care.
