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Archives for December 2017

Improving Chronic Health of the Elderly

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According to one researcher, people age 60 years and older tend to have a lower quality of life — which is ironic, considering we work hard so we can achieve financial independence by that time in our lives.

Recent developments in regenerative medicine are designed to help older people live a higher quality of life with less reliance on medical care. The idea is to transition away from medicine-based health care, in which we are diagnosed with a condition and take drugs for the rest of our life to manage its progression.

A new solution, proposed by scientists who specialize in regenerative medicine, is to personalize health care by solving problems at an early stage to help prevent the disease from deteriorating.

The Untapped Potential of Senior Innovations

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Aging can be big business for companies that find ways to tap into it. People in the U.S. age 50 and up collectively spend as much as $7.1 trillion a year, and that amount is expected to double by 2020 as more people age.

However, there’s still a need for innovations that would help millions of Americans age more gracefully, more comfortably and, preferably, in place. There’s a big push right now to tap into the aging market to provide those goods and services.

Demographic experts believe the aging boom has created a transformational business opportunity that will permanently change the commercial landscape. This is because after baby boomers have entered retirement, they’ll eventually be followed by Generation X and then millennials — currently the largest demographic. Each of these generations is expected to live progressively and measurably longer than the one before. As such, there is a huge demand, and thus far a small supply of companies, focused on serving the needs of the oldest Americans, who yearn to live an enriched lifestyle in retirement.

The next generation of older adults doesn’t want to simply live longer; it wants to live better. The latest trends in aging studies innovation call for more focus on transportation, housing and fun – and less on pill reminder systems and home security systems.

One such innovation is the housing development plan for Margaritaville-themed retirement communities — the brainchild of singer-songwriter Jimmy Buffett, who himself is age 70. The idea is to update the tired old idea of retirement communities with a paradise-themed setting. The first two Buffett neighborhoods, complete with beachfront access, live entertainment, lap pools and spas, are planned for Daytona, Florida, and Hilton Head, South Carolina.

Another type of innovation involves generational engagement. A nursing home in Great Britain recently embarked on an experiment to place a preschool inside a nursing home, where children interact with elderly residents. The benefits were remarkable for both groups. Children enjoyed one-on-one attention while putting together puzzles, making crafts, drawing, singing and dancing. Retirees worked right alongside the children, enjoying the questions, the creativity, the small-hand coordination and the joy of engagement — including the gentle touch of just holding hands with little ones. Elderly participants showed improvements in alertness, social connection, physical mobility and mood.

Whether engaging with young folks or hanging out with peers, the challenge moving forward is on ways to improve the quality of life for millions of aging Americans. And with so much consumer money at stake, you can bet corporate America will find a way to do it.

Challenges and Perks of an Aging Population

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The nice thing about growing older with such a large generation is there’s plenty of company. Whether in supermarkets, restaurants, fitness centers or recreation venues, it usually isn’t hard to find others nearby in their 60s, 70s, 80s and beyond.

In fact, there are now more people over age 60 than under age 15. So, you could say youth no longer rules.

However, this aging shift has yet to really transform the way we live. It needs to, and it will eventually, but for now, there are some growing pains. Traditions from the past, such as retiring in the early 60s, just may not make sense for the masses anymore. For one thing, we’re living longer. That means we either need to save more throughout our career to provide for a longer retirement, or we need to work longer so retirement isn’t so long.

Regular reassessments of health and long-term medical needs is also a must. Health care expenses and the number of aging Americans are increasing at the same time, which creates a need to deliver more care, to more people, and make treatment sustainably affordable.

Some may also need to re-evaluate where they live. In the mid-20th century, the suburbs grew to accommodate the rising number of young families. But suburbs rely on cars, and at a certain point, the older population will need more transportation options. We may need to create more urban spaces for mass housing that can accommodate elder needs, family compounds to house extended family members, or small, walkable villages devoted to elderly living.

We have a lot of needs that will require a shift in thinking that affects every aspect of society, including our institutions, economy, legislative policies, Social Security, Medicare and communities — which were all designed for an aging paradigm that no longer exists.

The American population has grown older — and will continue still. When you consider some of the possible changes that will bring about, it’s an exciting time to be alive.