bnetTV speaks with Jim Anderson of Care Technology Systems at the 2012 mHealth Summit held in Washington DC and gives us a overview of the company.
Care Technology Systems is in the business of helping seniors and their caregivers. The Baby Boomers are becoming seniors at an incredible rate and we will provide a better way for them to age with dignity. Over the next 20 years, in excess of 10,000 new retirees will be added to social security and Medicare every day. Informal caregiving costs Americans $196 Billion per year. The exploding demographics present a problem that demands a solution, and we have the answer.
The idea for Care Technology Systems was hatched in 2010 when Jim Anderson began to investigate the "digital health" industry, both as a means to help him take care of his mother, as well as an expansion for his A/V and Security business. After doing a good bit of due diligence and research, Anderson came to the conclusion that there was a strong need for a product to help seniors age in place, but that the offering currently in the market weren't meeting that need. Of particular concern was high cost and the fact that other vendors required the senior to interact with the technology.
After refining the business plan, software development started in 2011. Later in the year, Humana evaluated an early version of QuietResponse and chose to feature it in a permanent kiosk in its Innovation Center at headquarters in Louisville. In the Summer of 2012, Care joined forces with Qualcomm Life to customize the 2Net platform for use with QuietResponse. The company is now launching the formal product in early Q4 2012.