The Business of Aging

Big Pharma to Boost Online Marketing

According to new research, pharmaceutical marketers say they plan to increase their online marketing spending this year and decrease spending on traditional media.

This same conclusion was found in an upcoming market research report from Senior Care Marketing firm, SeniorCareMarketer.com.    The report is due out next month.

Big pharma, like many other industries, has realized that you must have a strong online presence so you can be more easily found by your buyers (and purchase influencer's) when they go online.

This is important because in many markets, including health care, the Internet is second only to peers when it comes to where buyers go to find information on products/services they may purchase.

In other words, Internet marketing allows you to take your message directly to your buyer and bypass traditional media.  And the best ways to build online visibility is through (in no particular order) search-optimized press releases, blogs and blogger relations, direct email marketing, SEO,and other Web 2.0 tactics.

SeniorCareMarketer helps companies in the senior care market do this much like it's sister product, HRmarketer does in the human resource marketplace.  Senior Care Marketer is scheduled to debut this Fall.

Designing for the Senior Surge

The Wall Street Journal had an article in the Friday April 25th issue called Designing for the senior surge  that discusses how makers of appliances (think General Electric) and bath fixtures (think Delta Faucet) are preparing for the senior surge by inventing "senior-friendly" products.

This is especially important because unlike their parents, who often moved into retirement communities or assisted-living centers, most boomers plan to remain in their own homes (aging in place).

And it's a huge opportunity. There are 78 million U.S. baby boomers, and roughly one-third will be 62 years old or older by 2013, says AARP. Read more senior care statistics here.

But marketing these senior-friendly features before they're needed requires a delicate touch according to NPD Group, a market research firm:  "The older consumers don't want to be treated like they're ready for retirement,'' says Mark Delaney, director of the home-industry sector at NPD Group.

Professional Caregivers: Unique Opportunity to Provide Input for TV Documentary

A friend of mine David J Levy, JD CCE is working on a TV Documentary and needs to speak with professional caregivers. Here are details:

Looking for: 2-4 Los Angeles area, privately hired, live-in family caregivers, for input and participation in a University hosted professional caregiver/elder experts “collaborative” on June 3, 2008 to provide guidance and information for a to-be-produced TV program. For further information contact: djl (at) caregiverexperts.com. Will respond to all inquiries.

David J Levy, JD CCE
American Association for Caregiver Education

New Way to Fight Alzheimer's and Actually Reverse Damage?

Interesting article I read today about a new kind of Alzheimer's drug designed to "hitch-hike" into cells that reverses the signs of Alzheimer's disease when injected into the brains of mice - it may become a potent new treatment for humans according to researchers.

Read the entire article.

Here is a synopsis:

"The compound effectively blocks an enzyme responsible for the build-up of sticky deposits, or plaques, in the brain by attaching to exactly the right spot on the cell wall where the toxic activity takes place. If all goes well, a version could be available for use by patients in five to 10 years, said Kai Simons of the Max Planck Institute of Molecular Cell Biology and Genetics in Dresden.

"It's clear that when it is injected into the brain of mice it works," Simons told Reuters. "The next stage is to see if can cross the blood-brain barrier ... if we get it through, it has huge potential."

Alzheimer's is a hot area for pharmaceutical research, since the incidence of the degenerative brain disease is rising rapidly as people live longer. But developing effective treatments has proved notoriously difficult. Existing drugs such as Aricept from Pfizer and Eisai, Exelon by Novartis and Razadyne or Reminyl from Johnson & Johnson and Shire can ease symptoms but do not stop the disease. One new drug that could make a real difference is an experimental antibody-based treatment called bapineuzumab from Wyeth and Elan, which is now in final Phase III clinical tests.

The World Health Organization estimates there are about 18 million people worldwide with Alzheimer's disease and this figure is projected to reach 34 million by 2025."

Downsizing Specialist?

A New York Times article this week titled Shrinking the World, or at Least Your Corner discusses an emerging group of workers called “downsizing specialists.”

What does a downsizing specialists do (according to the NYT article)?

"Downsizing specialist isn’t a formal designation with its own professional association; it’s a term for a job that combines organizing, psychology and plain old hand-holding.

People with backgrounds in gerontology, social work, health care and psychology are entering the field. They are helping their clients survive the daunting task of sorting out their furniture, collections, art, knickknacks, clothing, books and other items, and arranging for them to be sold, donated or discarded."

As silly as it seems, I think a lot of seniors will find this type of service useful. One reason is that as people age, they can have difficulty making decisions. I see it all the time. Even people who were very successful business executives can find it hard and stressful to make the simplest of decisions as they age. And cleaning out a home or moving is challenging under the best of circumstances.

And apparently, downsizing can be lucrative: many specialists say they charge $45 to $75 an hour to sort and dispose of possessions through estate or online sales, auction houses or charities.      

Publicly Traded Senior Care Stocks

I occasionally get asked for a list of  "pure-play" publicly traded senior care stocks - IOW, those companies whereby at least 75%+ of revenues come from selling products and/or services directly related to "seniors".

The following list is a start but I know there are a lot more. If you know of some, send my way and I will update.

    * APRIA HEALTHCARE -    AHG    
    * ASSISTED LIVING CONC - ALC         
    * AMEDISYS INC - AMED         
    * ADVOCAT INC - AVCA         
    * BROOKDALE SENIOR LVG - BKD         
    * CAPITAL SR LIVING CP - CSU         
    * EMERITUS CP   - ESC
    * FIVE STAR QUAL CARE - FVE         
    * GENTIVA HLTH SVCS - GTIV   
    * HILLENBRAND, INC. - HI   
    * HILL-ROM HOLDINGS, INC. - HRC         
    * KINDRED HEALTHCARE - KND   
    * LHC GROUP, INC. - LHCG   
    * MATRIA HEALTHCARE - MATR         
    * NATL HEALTHCARE CP - NHC         
    * SENIOR HSG SBI - SNH         
    * SUNRISE SENIOR LVNG - SRZ        
    * SUN HEALTCARE NEW - SUNH   

Deathcare Industry - and an AD Vaccine Update

A couple of news stories caught my attention this week:

First, Hill-Rom Holdings and Hillenbrand began trading as separate companies this week. Hill-Rom deals in medical technology and equipment.  Hillenbrand is the parent company of Batesville Casket, which positions itself as “a leader in the North American deathcare industry.” 

Second, Barron's April 7th issue discusses how Wyeth's Alzheimer's Vaccine Could Become World's #1 Drug, and possibly propel the stock up over 50% over next year if the drug continues to show promise (results of the Phase II trial of 240 patients are due in June).   Currently, all Alzheimer's treatments only ease symptoms whereas  Wyeth's drug "could be the breakthrough the world needs for Alzheimer's. It's not going to be an incremental symptomatic improvement. If it works, it's going to be a huge leap," VP Joe Camardo says.

Middle-Aged Users' Declining Web Performance

Interesting article/research by Nielsen Norman Group Report titled Middle-Aged Users' Declining Web Performance  discusses Web Usability for Senior Citizens.

The research found that "current websites are twice as hard to use for seniors as they are for younger users. Probably not that surprising, since Web designers are usually fairly young. However, the Web does not have to be this hard for seniors. The research found many specific guidelines that can make websites easier to use for seniors if they are followed during the design."

The entire report can be ordered here.