Aging in Place: The Digital Home Health Boom
Home Controls officially launched its Home Health Tech division this year; however, we've been promoting the independent living benefits of consumer electronics for almost a decade. Chances are, you are too—but might not even know it.
If you do any type of lighting control, security, access control, perimeter sensors, intercoms, automated blinds or remote-controlled doors and windows, for example, you are already selling digital home health devices.
Access controllers help people struggling with arthritis. Perimeter sensors can be used to notify family and caregivers when a loved one unexpectedly wanders out. Automated and remote-controlled blinds, doors and windows assist those with limited mobility. The list goes on and on, providing assistance for people with visual, dexterity, hearing and other age-related conditions.
The health care industry is looking to you to step up, get involved and provide the needed technical expertise. There is no other industry remotely close to what you have to offer. CR
As a professional businessperson, you need to consider the financial considerations. Yes, you can make money in the digital home health market. Good money. Recurring money.
"Dealers can usually expect recurring revenues from remote home-monitoring systems in exchange for providing full-service customer support and system maintenance," Mitchell from GrandCare said.
GrandCare and Presto both offer recurring revenue. So does Halo Monitoring (a fall detection system), MedMinder (a medication compliance device), Lok8u (a GPS watch) and several personal emergency-response systems like Linear and LogicMark, just to name a few more.
"Many solutions carry the possibility of recurring revenue, either from the manufacturer or by the retailer as part of a dealer-offered bundle," Radsliff said. "Choosing these products and services carefully can not only greatly enhance the brand of a dealer, but it can create a financially significant annuity that will pay dividends for years to come."