How-To Fund Eldercare Technology
Key to funding for eldercare technologies? Pilots
By Dawn Kawamoto , Staff Writer, CNET News.com, July 17, 2007
No matter the size, a pilot not only serves as a means to vet whether an eldercare technology will work, but it also generates much needed data for insurance companies and government entities to weigh whether they might be willing to pay for such technologies, according to panelists Tuesday at the fourth annual Healthcare Unbound conference.
Northeast Health, an upstate New York health care provider that operates a wide range of services including independent and assisted care for seniors, has conducted several small-scale pilots with IBM, GE Global Research, as well as one on its own….
In one case, Northeast Health conducted a pilot with two patients of an insurance company to prove that remote, or “telehealth,” monitoring technology could save the insurance company money.
“We said to one insurance company, ‘give us a couple of your most expensive patients, the ones who are always in and out of hospitals,’” said Lisa Gaudet, director of remote care technology and genetic services for Northeast Health. “They told us in one month we saved them $50,000 for one patient and $100,000 in a month for the other one.”…
The article goes on to cite other pilots that proved out other technologies - many using 35 or fewer participants. But if you save $50,000 to $100,000 per month per patient, you get some serious interest quickly from the party paying for it.
