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Smart technology’s $1 trillion impact on long-term healthcare costs

In 2023, U.S. healthcare costs for Alzheimer’s disease and related dementias (ADRDs) were $345 billion [1] and are projected to reach $1 trillion by 2050 [2]. Smart technology that assists with detecting and managing cognitive decline represents an important and timely opportunity. ADRD-related technology can reduce healthcare costs by up to 25%, lessen some of the care burden, and improve quality of life as a result of more effective treatments. Only 16% of older adults receive regular assessments because formal assessments can be frightening, costly, and inaccessible, particularly for individuals living in remote and underserved areas. The CDC reports that 11.1% of Americans experience subjective cognitive decline [3]. Furthermore, an estimated one-third of dementia is attributable to modifiable risk factors. The Alzheimer’s Association estimates that if Americans were diagnosed with cognitive decline when at the stage of mild cognitive impairment, this would result in a savings of over $7 trillion in health and long-term care costs [1]. Clearly, early detection of memory decline is important, and all stakeholders would benefit.

Monitoring Cognition

Cognitive impairment associated with neurodegenerative diseases can notably impact an individual’s ability to complete everyday activities (e.g., cooking, managing medications). This is significant as functional impairment in older adults isassociated with a host of negative health care consequences, including placement in long-term care facilities, social isolation, and conversion to dementia. LifeAdapt’s approach to early detection of mental and physical decline, critical for supporting longer and healthier lives, monitors mental and physical health constructs for each individual client, and alerts caregivers of markers that predict a significant change in health. Early warning signs of more serious conditions such as ADRD and physical frailty can be detected, decreasing the risk of associated serious accidents.

LifeAdapt’s technology supports early detection of changes in cognition, memory, everyday function, mood, and health, through automated prediction of clinical indicators. These indicators are quite different from the domains that are currently tracked by widely-available wearable devices, which mainly monitor exercise and fitness activities. Patients, families, and care providers are able to review the client’s historical charts and trends on our cloud dashboard and assess the predicted scores in the context of the individual, resulting in a higher-quality health assessment.

LifeAdapt’s approach uses a passive monitoring application on a commercially-available smartwatch, such as the Apple Watch, Samsung Galaxy Watch, or Google Pixel Watch – devices that many adults already use and that do not carry the social stigma and added expense of a customized device. The watch securely relays sensor data to our cloud servers without any action required by monitored individuals. Machine learning models predict clinical measures that are provided to the individual and their caregivers.

Chronic Conditions

LifeAdapt’s technology can also be used to detect condition exacerbations. Exacerbations, or sudden symptom worsening, that are related to conditions including chronic obstructive pulmonary disease, diabetes mellitus, congestive heart failure, urinary tract infections, Parkinson’s disease, and cognitive decline place a considerable burden on the health care system. They are major causes of decreased quality of life, accelerated decline, and mortality. Early detection of exacerbations is essential, as this can improve treatment outcomes and reduce hospital admissions. More importantly, forecasting health exacerbations can prevent life-threatening events or limit their impact, greatly reducing the estimated $37 trillion global cost of treating exacerbations [4,5]. Chronic diseases account for 75% of healthcare expenditures in the US. Because individuals are living longer with chronic diseases and a shortage will emerge in the care workforce, LifeAdapt technology can improve healthcare quality and accessibility.

LifeAdapt’s technology allows sensor-based monitoring systems to recognize and predict patient conditions by emulating clinician interpretation of the data. This contribution is significant because the technologies provide automated tools to support self-management of chronic conditions, helping clinicians and patients monitor multiple chronic conditions that accompany aging. Because smartwatch technologies can be employed in any setting, our technology will be particularly valuable for medically underserved populations who have limited access to a clinic or lab.

For more information, visit lifeadapt.com.

References

  1. https://www.alz.org/alzheimers-dementia/facts-figures
  2. Cost of care for Alzheimer’s disease and related dementias in the United States: 2016 to 2060. https://doi.org/10.1038/s41514-024-00136-6
  3. https://www.cdc.gov/aging/data/subjective-cognitive-decline-brief.html
  4. https://www.ncoa.org/article/get-the-facts-on-healthy-aging
  5. https://lifesciencesintelligence.com/features/chronic-disease-rates-and-management-strain-the-us-healthcare-system