Baby Boomers reshaping the aged care market
27 November, 2019
Baby Boomers Reshaping The Aged-Care Market
Baby boomers are a self-centred lot but, in many ways, they have reshaped the world with every phase of their life.
According to aged-care pioneer and Odyssey founder and CEO Phil Usher, the impact has been most notable in the retirement living sector which has changed dramatically in the past decade.
He says that with life expectancy generally 10 years longer than most people estimate for themselves, many baby boomers are now looking for more than just lifestyle in retirement.
“Most people think of retirement villages as the old model that was marketed on lifestyle showing a couple walking down the beach at sunset looking forward to a glass of wine,” said Mr Usher.
“Baby boomers still want that, but they are also far more self-centred. Not only do they want the security of their own home, but they also want to be looked after and they want to be looked after really well when the time is required.”
Mr Usher, who led the charge in the retirement living sector with Tall Trees Care Communities in Brisbane two decades ago, is taking heed of the latest trends in the market.
“As more baby boomers become recipients of aged-care services, consumer expectations will change and the method of service delivery in the industry will need to change as well,” he said.
“Incorporating health support is paramount to the new wave of retirees, and that’s what we’re doing with Odyssey Robina.
“People like the idea of having all services delivered to their home and they like the idea of normality and living life out on their terms.
“At Odyssey, for example, there is no need for residents to ever move again as their need for care increases, because the care is delivered to them as they require it.”
Technology is increasingly playing a part in supporting this trend, particularly through improved computerisation, robotics and non-invasive technology to monitor people’s wellbeing.
“Available now are personal monitors that look like a light fixed to the wall,” said Mr Usher.
“The product emits radio waves that can pick up different signals in the body to determine well before you are aware of it, any significant changes in the body chemistry that can indicate you are going to have a medical event.
“If the signals are significant enough, the monitor will send a message to a carer to get to you right away.
“This is a brilliant example of a non-invasive device that can greatly assist with people’s wellbeing.
“Leaps in technology such as this are bringing a great deal of benefit for residents, allowing them to remain in place where they prefer to live for much longer.