Parks Associates: Nearly One-third of Seniors Are Considering Purchasing an Independent Living System for Themselves

New research highlights impact of COVID-19 on seniors, caregivers, and demand for independent living solutions

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Jan 05, 2021, 08:01 ET

DALLAS, Jan. 5, 2021 /PRNewswire/ -- New research from Parks Associates' COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions finds nearly 33% of US seniors (ages 65 and older) are considering purchasing an independent living system. This interest follows a trend of increasing technology adoption among the 65+ US population—34% have a smart speaker or smart display and 76% personally use a smartphone.

Parks Associates: Top Preferred Independent Living System Purchase Channels

Parks Associates is tracking short- and long-term impacts of the pandemic on consumer behaviors, attitudes, and intentions in the connected health and independent living markets. COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions quantifies the impact of the COVID-19 crisis on seniors and family caregivers, assessing concerns, pain points, and demand for technology products and services.

"High levels of interest in particular features, including safety and security functions, indicate demand for a solution designed specifically for senior comfort and control," said Kristen Hanich, Senior Analyst, Parks Associates. "These seniors show a strong preference for companies specializing in independent living systems when seeking out a purchase channel, so they are looking for companies that are well versed and very familiar with the unique challenges that come with aging independently, especially as they bring new technologies into the home."

The research notes COVID-19 introduced new challenges to seniors and caregivers both. Senior telehealth usage nearly quadrupled year-over-year, with 29% of seniors reporting use of telehealth usage in May, up from 6% in 2019. The most popular service types used were phone calls and video chats, while 11% report using self-diagnosis apps. Increase in telehealth service usage was driven by changes in Medicare reimbursement and the rollout of remote visit functionality among seniors' existing physicians. Health insurers and telehealth services also quickly moved to support this cohort, communicating with their members that these visits were covered.

"Telehealth specialist companies rapidly moved to support Medicare Part B, with Doctor On Demand very quickly rolling out a solution soon after the Centers for Medicare and Medicaid expanded Medicare telehealth reimbursement," Hanich said. "We are seeing a greater willingness on the part of seniors to try and adopt new technology."

For more information on COVID-19: Impact on Seniors, Caregivers, and Independent Living Solutions, contact [email protected].

To schedule an interview with an analyst or to request specific research data, please contact Rosey Ulpino at [email protected], 972.996.0233.

About Parks Associates
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webinars, the CONNECTIONS™ Conference Series, Connected Health Summit: Engaging Consumers, Smart Energy Summit: Engaging the Consumer, and Future of Video: OTT, Pay TV, and Digital Media. http://www.parksassociates.com

Rosimely Ulpino
Parks Associates
972.996.0233
[email protected]

SOURCE Parks Associates