What is all the financial buzz about Virtual Caregiving and the crises of paying for our aging population?

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Jan 31, 2019, 10:40 ET

LAS CRUCES, N.M., Jan. 31, 2019 /PRNewswire/ -- The internet, health and technology publications have been buzzing about Addison Care, from SameDay Security, Inc., a new Virtual Caregiving Technology debuted to the world in January 2019. What is all the buzz about? The looming crises of paying for our rapidly expanding aging population.

The World's First Virtual Caregiver - Addison, of Addison Care, guides a client through collecting vitals data.

Stories abound of the $3 billion in losses businesses experience from caregiving interruptions in the workplace. Companies are seeing key employees quit or request a reduction in hours to part time work, hours of distractions with telephone interruptions due to caregiving challenges and increasing sick days due to stress related illnesses associated with caregiving.

Taking care of a loved one whether a sick child, middle-aged spouse, or aging parent is not cheap. Part-time hourly care can run a family $3,000-$5,000 a month with only 3 percent of the population in a position to shoulder that burden. Independent living communities often do not provide the required support to manage residents who are dealing with chronic illness or a combination of illnesses, complex medication schedules or continual health consultations. Most people would prefer to live independently at home and do not want personal caregivers, but declining health, risk of injury and lack of vital health monitoring, often makes this too risky for families to consider. Without adequate support each week, simply forgetting to take medications or monitor health vitals, results in a staggering 50 percent of treatment failures. The American Collage of Preventative Medicine has outlined many of the problems.

Non-adherence to care plans leads to loss of functional independence, loss of life, hospitalization and medical complications, and it is costing America hundreds of billions of dollars a year. Now add the fact our aging population is expanding so rapidly, it is scheduled to double in size in the coming 30 years. This is a big problem for insurers, health institutions and the government. They cannot handle the load they have today. This is tomorrow's financial crises and it has investors and financial markets concerned.

Enter Addison Care (www.addison.care) and Electronic Caregiver (www.electroniccaregiver.com), by SameDay Security, Inc. Their Virtual Caregiver is the results of tens of millions in development, collaboration with hundreds of health institutions and professionals, collecting data from, and interacting with, thousands of aging individuals and patients. Working with partners such as the geriatric and movement disorders labs at New Mexico State University, and engaging in clinical trials with G60 Trauma who specializes in trauma care for age 60+ patients, they have developed a stunning, affordable, virtual caregiving system that is predicted to cut costs upwards of 92% between now and 2050, while providing affordable 24/7 care to major portions of the population who can afford it.

For the markets, this is a potential sigh of relief. It is also good for SameDay Security's partners, because their Electronic Caregiver and Addison Care products help cellular companies such as AT&T, internet providers, monitoring facilities, cloud providers like Amazon Web Services (AWS), and hardware manufacturers make a lot of money as they grow. Sounds like a win-win.

Addison Care technologies are capable of robust patient assessments from regular verbal examinations to collect symptoms, to movement and gait assessments to identify signs of pain, health improvement or decline, distress, depression, slurred speech, increasing fall risk, medication consumption, adverse reactions, and the collections of key vitals. Addison Care combines a personalized, cutting-edge ambient augmented reality user interface with conversational speech capabilities, tied to internet of things devices, edge computing, Artificial Intelligence and visual sensing. Addison is tailored instantly during a one-hour setup process for individual care plans and needs.

The company is now engaged in discussions with leading technology companies, strategic investment sources, and parties looking for expedited release in overseas markets. Addison was debuted at the 2019 Consumer Electronics Show in a stunning interactive exhibit where attendees could run Addison through the paces. While partnering with hospitals and private duty home care companies across America, the company is planning to leverage an undisclosed, major new capital offering to drive Addison sales beginning in Q2 of 2019. Amazon Web Service executives have been enthusiastically tweeting and providing statements to the press about Addison capabilities, recognizing her as an innovative breakthrough for care. In the meantime, we will just have to sit back and watch these next few months to see what major announcements will be coming next.

About SameDay Security, Inc.

SameDay Security (SDS) is one of the fastest growing monitored technology providers in the U.S. and one of only a handful of nationwide service providers. Known as the Electronic Caregiver Company (trademark) and founded in 2009, SDS currently provides automated home care solutions and safety devices nationwide to thousands of clients. SDS has developing contracts with hundreds of home care partners across America who will participate in Addison Care marketing to their clients. New clinical trials are scheduled with G60 Trauma of Phoenix, Arizona, involving 500 patients over 3 years to determine the impact on patient outcomes, cost reduction, lower hospitalization, chronic disease management and long-term care. The company occupies 20,000 square feet of space for innovation, customer service, dealer support and accounting, with 4,500 square feet of warehousing in Las Cruces, New Mexico. The tallest building in the city hosts their sign at the top and the company employs nearly 100 employees and partners with Rapid Response Monitoring Service, who provides emergency response service to over 1.5 million customers. 800-Alarm-55

SOURCE Electronic Caregiver