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Aging2.0 at Health2.0NYC Event (SJohnston)
1. AGING2.0
This Isn't Your Grandfather's
Elder Care Paradigm
New York, 30th January 2012
@agingtoo
aging2.com
AGING2.0 1
2. By 2050, most countries will be as old
as Japan is today
Source:
BCG,
Global
Aging,
Dec
2011
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3. Workforces profiles are changing
IMPACT
• Workforce
training
• Flexible hours
& conditions
• New career &
salary paths
Source:
BCG,
Global
Aging,
Dec
2011
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4. The 55+ cohort will account for over HALF of
consumer spending over next 20 years
Growth in consumer spending 2008 – 2030, $bn
Source:
BCG,
Global
Aging,
Dec
2011
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5. Key areas:
Health, Housing, Consumer & Financial
Source:
BCG,
Global
Aging,
Dec
2011
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6. The Aging2.0 Manifesto:
Four keys to unlock this market
1. Deliver lifestyle, not ‘deathstyle’,
products and services
2. Utilize emerging age-friendly
business models
3. Understand indirect channels
to market
nymore…
We’re not in Kansas a
4. Embrace proactive ‘well care’,
not reactive sick care
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7. 1. Deliver lifestyle, not ‘deathstyle’, products and
services
Canal street vendor, NYC Sabi.com
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8. 2. Utilize emerging age-friendly business models
Collaborative consumption
Microtasks
Peer to peer
Affiliate models
Coupons & Group buying
Real time social consumption
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9. 3. Understand indirect channels to market
Company
Senior
Caregiver
/ Adult Child
Image: http://writeaboutnowjt.wordpress.com/category/men-and-women/
Grandchild
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10. 4. Embrace proactive ‘well care’,
not reactive sick-care
Aging will have major clinical and economic impact
• Health care professionals* themselves are worried
– 80% physicians worry how they’ll be treated when they’re old
– 49% think aging is a threat to the viability of their health care system
• Key findings
– Everyone needs to be involved in preventive health & smart choices
– Integrate health and social care
– Retrain workers towards integrated care, focused on older patients
– Monitor and reduce ageism
Source:
A New Vision for Old Age, Jan 2012
*Survey interviewed 1113 European health care professionals
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11. 4. (cont) What would a proactive approach
to health look like?
Scenario A: Status Quo Scenario B: Proactive health
Agreed
Checklist
benchmarks
of care
community
Social
“Diagnosis”
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12. Conclusion: A major opportunity,
but it needs a new mindset and approach
Take the ‘Aging2.0 Fitness’ test:
• Do you focus on lifestyle opportunity?
• What emerging business models make sense for your market?
• How well do you navigate indirect channels to market?
• Are you driving proactive ‘well care’ via employees
customers?
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US has 41m retirement age people today, will have 72m by 2030. That’s equivalent to another city the size of Philadelphia – the fifth biggest in the US – joining the ranks of retired every year for the next 18 years.Dependency ratio in the West was about 8 in 1950 – 8 people of non-working age per 100 of working age. In Japan today it’s 33, and by 2050 it’ll be 65.
Boston Consulting Group, a projection of spending power with demographic and GDP evolution shows that the 55+ age group will generate between 50 per cent and 80 per cent of growth in the US, Japan and Germany — the three largest G7 economies — between 2008 and 2030
Boston Consulting Group, a projection of spending power with demographic and GDP evolution shows that the 55+ age group will generate between 50 per cent and 80 per cent of growth in the US, Japan and Germany — the three largest G7 economies — between 2008 and 2030
Boston Consulting Group, a projection of spending power with demographic and GDP evolution shows that the 55+ age group will generate between 50 per cent and 80 per cent of growth in the US, Japan and Germany — the three largest G7 economies — between 2008 and 2030