Aging2.0 at Health2.0NYC Event (SJohnston)

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Summary of global aging and some business implications for the health space. Focuses on a shift to proactive care.

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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
  • Aging2.0 at Health2.0NYC Event (SJohnston)

    1. 1. AGING2.0 This Isnt Your Grandfathers Elder Care Paradigm New York, 30th January 2012 @agingtoo   aging2.com  AGING2.0 1
    2. 2. By 2050, most countries will be as old as Japan is today Source:  BCG,  Global  Aging,  Dec  2011  AGING2.0 2
    3. 3. Workforces profiles are changing IMPACT •  Workforce training •  Flexible hours & conditions •  New career & salary paths Source:  BCG,  Global  Aging,  Dec  2011  AGING2.0 3
    4. 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  AGING2.0 4
    5. 5. Key areas: Health, Housing, Consumer & Financial Source:  BCG,  Global  Aging,  Dec  2011  AGING2.0 5
    6. 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 AGING2.0 6
    7. 7. 1. Deliver lifestyle, not ‘deathstyle’, products and services Canal street vendor, NYC Sabi.comAGING2.0 7
    8. 8. 2. Utilize emerging age-friendly business models Collaborative consumption Microtasks Peer to peer Affiliate models Coupons & Group buying Real time social consumption AGING2.0 8
    9. 9. 3. Understand indirect channels to market Company Senior Caregiver / Adult Child Image: http://writeaboutnowjt.wordpress.com/category/men-and-women/ Grandchild AGING2.0 9
    10. 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 professionalsAGING2.0 10
    11. 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”AGING2.0 11
    12. 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? AGING2.0 12
    13. 13. Join the discussion at www.aging2.com THANKS!AGING2.0 13

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