Company Performance Metrics
Between 2015 and 2030, the number of people in the world aged 60 years or over is expected to grow by 56%, from just over 900 million to nearly 1.5 billion. This trend in turn leads to an increase in the number of people requiring long-term skilled care (LTSC), which includes home care, hospices, nursing homes, and assisted living centers.
One of
the most common issues in LTSC settings is falls. One in every 3 people older than 65 years is estimated to fall 1 or more times each year. Fall death rates among adults age 65 and older increased more than 30% from 2007 to 2016. Every 19 minutes, an older adult dies from a fall.
Falls in older adults are not only risky, but also costly. In 2019, falls of US residents aged 65 or older led to $51B in medical costs, with $39B paid for by Medicare/Medicaid and $12B paid by private entities. Falls are also the 2nd largest reason for lawsuits against LTSCs.
Heron Point Tech’s Fall Prevention System allows assisted living facilities to preemptively and continuously detect residents who are likely to fall. As opposed to most fall-related systems, our system doesn’t detect falls - it stops them from happening in the first place. By using our camera-based system to track resident walking patterns/gaits, residents are assigned weekly fall risk scores. No wearable devices required.
