Technology solutions for the ageing population and return on investments
In 2010, 524 million people worldwide or nearly 8% of the global population was 65 years or older.1 By 2050, this is expected to triple to nearly 1.5 billion. As economies and socio-demographics alter, ageing populations are becoming a prominent feature of both developed and emerging markets. The associated resource and monetary constraints are putting rising pressure on health systems. This has prompted an urgent need for resource planning, and given rise to a budding market for a variety of elderly care solutions.
Amongst these, technology-driven solutions are often the most discounted. This is because the elderly are commonly perceived as not being tech-savvy enough to integrate technologies into their daily lives, and so the industry overlooks technology-driven solutions for aged care. However, these should not be disregarded. Research continues to reveal the presence of “Silver Surfers” – a popular term for the increasing number of elderly adopting internet usage. Contrary to popular belief, the elderly remain ever so curious and adept in the digital age. Adults over 60 years that used computers were more likely to generate positive attitudes towards technology use, and those that learnt to use iPads had greater improvements in cognitive thinking and memory. In cases where the elderly are not tech-savvy, their carers and/or children are, - suggesting that access to technology can still be leveraged in this population.
However, whether the adoption of technological solutions, such as remote monitoring, will bear a return on investment (ROI) is often doubted in the current resource-constrained, cost-driven healthcare economy. Who will pay? Payers, providers or patients? Interestingly, a consensus on the definition of ROI remains to be realised. If viewed through a cost-savings lens in terms of reductions in falls, medical errors, re-admissions and transport needs and greater medical adherence, adopting these solutions could hold tremendous potential, and a more data driven approach is needed.
On the other hand, the elderly often just need a warm, inter-personal connection, and technologies that eliminate the need for caregiving and alienate them within the confines of their home might do quite the opposite. From an orthopaedic surgeon’s perspective, elderly patients treated for hip fractures are often discharged from regular outpatient follow-up clinics at six months to a year. Some surgeons however, choose to continue seeing their elderly patients annually to ensure inclusion and frequent contact with the outside world. It gives the patient something to look forward to; to show them that they are still cared for and not forgotten. While only time and data will tell if technology-driven solutions for elderly care may or may not have good return on investments from a purely cost-savings perspective, the most important thing we must ensure remains, is the power of human touch.
About Dr. Zubin J Daruwalla
Dr. Zubin J Daruwalla is a doctorpreneur, surgeon, futurist, thought leader, advisor, mentor, and patient and HealthTech advocate. He has delivered over 100 talks and presentations, including multiple keynotes in more than 12 countries and across 5 continents.