From The Lab to the Living Room Deploying New Technologies for the Growing Home Healthcare Market Thursday, March 9, 2006 Rob Scheschareg President Intuitive.

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Presentation transcript:

From The Lab to the Living Room Deploying New Technologies for the Growing Home Healthcare Market Thursday, March 9, 2006 Rob Scheschareg President Intuitive Care Advisors

Welcome Todays Objectives Important Trends Beyond the Macro Case Studies – the markets emergence now How To Make Money Opportunities and Challenges for Business Growth Todays Format Todays Agenda

Agenda Tomorrows Home Environment Product Designs Technology Platforms Wireless Business Models Reimbursement Partnership Opportunities Risk Management Legal & Liability Issues

The Consumer Perspective The Decision-Maker 46 year old, college educated Female Providing 20+ hours per week caring for an ill mother (Kaiser Family Foundation) 7 million Americans responsible for the care of an elder who lives on average 300 miles away (ADT Security Services Survey 3/05) 50% of all caregivers spend 46 hours/week on average to care for family members (ADT Security Services Survey 3/05) The Audience: Caregivers and Digital Ready Consumers 44.4 million caregivers (caring for someone 18+ yrs old) (AARP, National Alliance for Caregiving) 45% of US homes have at least one HH member managing a chronic disease; 22 million households care for an elder w/chronic condition Digital Ready Consumers With a chronic condition Broadband connection or home network Wireless communication device (cell, smartphone, PDA) 13% of todays seniors (Forrester)

The Market Advanced Home Healthcare Market $500m in 2005 $2 bil+ within 36 months $28.7 bil the following 36 months (Forrester Research) Initial Revenues from Consumer Self-Pay $250+ bil spent out-of-pocket on healthcare in 03 $7 bil out-of-pocket on home healthcare alone in 03 (CMS) 90% willing to spend $50+ per month; 50% willing to spend $100+ per month (Center for Aging Services Technology, 2005) Financial Incentives/Cost Benefits & Healthcare Consumerism In 2003, average daily hospital charges = $3,838/day Skilled Nursing Facility = $499/day Home Health visit = $109/visit (CMS, Social Security Administration) Limited Validation of Consumer Self-Pay Models 3 rd Party Payer Reimbursement Still Slow

The Rate of Development Growing Study of Telemedicine and Home-based Healthcare (356 clinical studies; 2x growth in MEDLINE articles) Increasing Support and Proof of Improved Diagnosis, Clinical Management and Outcomes Increasing Level of Interest from DTC Channels Installers & Integrators of Home Security & Automation Systems Retail Pharmacies Home Healthcare Agencies Expansion of Services from Medical Centers Increasing Investment from Private and Public Sectors Academic and Corporate Labs Demonstration Projects IT and Life Sciences Leadership

Lets Get Started Rob Scheschareg President Intuitive Care Advisors (508) x242