Friday, October 09, 2015

Being age-neutral to workers and consumers has a lot in common

This article in Technology Review gives a good account of the issues facing older workers (Aging workers, new technology)

Just ponder this for a moment:

In 1992, less than 3% of the American workforce consisted of people aged 65+.

Today that proportion has nearly doubled (U.S. Bureau of Labor Statistics) and it’s expected to reach over 8.0% by early in the 2020s. Most of these 13.5 million older workers will be between 65 and 74, but nearly 2.6 million will be 75 and over.

Just in the same way as you have to modify all of the touchpoints in the customer journey to respond to consumer ageing so you need to do the same in the workplace.

Few if any organisations understand what is about to happen to the makeup of their workforce. Same story for their customers.

This article gives some great examples of some companies who see this as a business opportunity. There is money to be made in ageing both in catering for older consumers and older workers. Dick Stroud

The prizes for the winners in the 'do it yourself 'healthcare market will be huge. Looks like CVS intends to do well.

The previous blog posting was about the horrors of state provided care. Certainly in the UK, there are numerous similarities with the provision of state provided healthcare (the NHS).

I think there are many similarities in the US with the way healthcare is delivered.

Individuals (well certainly a sizeable percentage of them) want to take more control of their own healthcare and diagnostics. For this reason I was interested to see this headline.

CVS Health partners with startup accelerator Masschallenge and digital health venture fund Rock Health

For those of you who don't recognise the names, what you have is the largest pharmacy chain in the US partnering with the largest startup accelerator and the first venture fund dedicated to digital healthcare.

Clearly the intention is to generate a stream of new products that can be pushed through CVS huge retail channel.

In theory it sounds like a great idea. Of course the devil is in the detail but the winds of change of consumer healthcare behaviour are well behind the venture.

As far as I know there is nothing remotely like it happening in the UK. Dick Stroud

Health and Care provision spiraling out of control. it will get a lot worse

A few years back I worked a lot providing marketing advice to companies in the 'care industry'. It was obvious that it was an unstable business model and would limp along but be unable to provide anything like a decent level of care/support for the majority of people.

This is not a new story and I know it will be reported time and time again with more and more gruesome stories of older people suffering. Just have a look at this news report.

You are witnessing a mega fragmentation between the levels of care provided by the state and those purchased by the individual (if they have the money). The state has done all it can to squeeze the suppliers of care service to reduce costs it has forced the 'private payer' to subsidise the cost of their fellow state customers. There is no where to go.

As care suppliers will either go out of business or focus solely on the private sector then the state will have to pay the full costs - but it doesn't have the money. Heavens knows where it goes from here. Dick Stroud