SOURCE: Parks Associates

Parks Associates

June 30, 2016 09:00 ET

Parks Associates: 41% of Future Caregivers Are Very Interested in Connected Health Apps for Managing Medications

AARP, GreatCall, Lumiata, Humetrix, and Sentrian Remote Patient Intelligence® to Discuss Consumer Adoption Trends and Successful Business Models at Connected Health Summit: Engaging Consumers

DALLAS, TX--(Marketwired - Jun 30, 2016) - New research from Parks Associates shows 27% of current caregivers and 41% of future caregivers are very interested in a connected health app featuring medication lists with reminder functions. The market research firm will bring together industry leaders and analysts to address the connected health market at the third-annual Connected Health Summit: Engaging Consumers, August 30-September 1, in San Diego at the Omni Hotel. 

"More than 115 million Americans will require caregiving assistance by 2020, and their caregivers will include both medical professionals and family members," said Harry Wang, Senior Research Director, Parks Associates. "Caregivers are interested in new technologies like medication management tools, but only 11% are presently using apps with this ability. There is great potential for future growth in this area, along with other caregiver support solutions such as remote patient monitoring and patient communication and engagement tools."

Connected Health Summit is an executive conference focused on four core areas: remote health monitoring for accountable care; consumer-centric wellness and fitness solutions; independent living technologies and services; and innovative virtual/convenience care models. The 2016 keynote speakers include Dr. David Rhew, Chief Medical Officer and Head of Healthcare and Fitness, Samsung Electronics America, and Annette Brüls, President, Diabetes Service and Solutions Medtronic.

"The demand for caregiving applications is currently unmet and will grow in the future among both consumers and the medical industry," Wang said. "The industry needs to prioritize education and outreach for caregivers and patients and examine ways for the wellness and well-being markets to connect with and inform insurers and medical providers and professionals. At Connected Health Summit, leaders in this space will discuss business and outreach strategies to meet this demand for caregiving applications."

Parks Associates analysts will discuss this caretaker and connected health research in the following sessions on August 31 at Connected Health Summit:

  • "Engaging Caregivers for Coordinated Care," 2:00 p.m., provides insight into the platforms and solutions designed to improve patient compliance and the role of connected health solutions in managing caregiver needs. Confirmed speakers include David Inns, CEO, GreatCall Inc., and Jeff Makowka, Director, Market Innovation, AARP.
  • "Integrated Technology and Data Platforms to Enable Better Care," 3:00 p.m., examines how smart home, connected health devices, and machine learning can be leveraged to improve care and consumer engagement. Confirmed speakers include Ash Damle, Founder and CEO, Lumiata; Bettina Experton, MD, MPH, President and CEO, HUMETRIX; and Lance Myers, Ph.D., Chief Technology Officer, Sentrian Remote Patient Intelligence®.

"In spite of the abundance of health data, care management today remains fragmented and imprecise. We need solutions that can leverage data and analytics in ways that help us understand health trajectories of individuals with precision and speed," said Ash Damle, Founder and CEO of Lumiata."We have an exciting opportunity before us -- artificial intelligence offers a mechanism to drive precise and efficient risk and care management at scale, as well as connect and empower all stakeholders -- from payers to caregivers to patients."

"Putting an actionable and up-to-date medication list in the hands of patients and their caregivers can be lifesaving as one-third of preventable hospitalizations of the elderly are due to medication management errors," said Bettina Experton, MD, MPH, President and CEO, HUMETRIX.

"Technology that can help make caregiving easier is going to be a massive opportunity over the next decade -- but everyone needs to remember that this technology needs to be adopted by both older consumers and family caregivers for it to work," said David Inns, CEO, GreatCall Inc. "To capitalize on this opportunity in the short term, we need products that both seniors and their family members will use, and we need to increase the awareness of the category as a whole."

"AARP is extremely interested in improving the quality of life for both caregivers and the people whom they love and deliver care for. Medication adherence and other interactions that keep people healthy and safe are very important spaces that are underserved, and technology and innovation can absolutely help close that gap," said Jeff Makowka, Director, Market Innovation, AARP. "We're excited to participate in the Connected Health Summit because it addresses the intersection between technology and consumers. Technology can help improve the quality of life for people and manage their conditions as well as have the people who love them feel safer, securer and have peace of mind."

"With chronic disease accounting for more than 70% of total healthcare costs, we have little choice but to be more efficient in the way we predict, prevent and treat chronic disease," said Dr. Lance Myers, Ph.D., Chief Technology Officer for Sentrian Remote Patient Intelligence®. "Artificial intelligence and machine learning will be one of the ways that we improve population health and I look forward to participating in the Summit with colleagues to discuss these important issues."

Parks Associates' 360 View Update: Independent Living Needs: Helping Aging Parents Thrive examines current and future caregiver status and time spent on common caregiving tasks. It also analyzes technology interest and use in terms of current usage of app features for caregiving and tech interest among those 65+.

Conference sponsors for Connected Health Summit include ARM, Care Innovations, Honeywell, PokitDok, Z-Wave, and ZigBee.

Registration to Connected Health Summit is open, and media are invited to secure press passes. For more information visit, www.connectedhealthsummit.com. Follow the conference on Twitter at @CONN_Health_Smt and #CONNHealth16. To schedule a meeting with an analyst or speaker, contact Holly Sprague at hsprague@gmail.com, 720.987.6614.

About Connected Health Summit
Connected Health Summit: Engaging Consumers analyzes the role of innovative connected health solutions in driving changes in consumer behaviors as well as healthcare systems, insurers, and hospital networks. The event focuses on four areas of consumer health, which require active consumer participation to be successful: remote health monitoring for accountable care, consumer-centric wellness and fitness solutions, independent living technologies and services, and innovative convenience care models.

The event will take place August 30 - September 1, 2016, at the Omni Hotel in San Diego, CA. Parks Associates is accepting submissions for speakers for the event.

For more information on Parks Associates research or Connected Health Summit, visit www.connectedhealthsummit.com. To schedule an interview or to request specific research data, please contact Holly Sprague at hsprague@gmail.com.

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