Best Buy Invests Heavily in Smart Home Care for Aging Populations

Best Buy is one of the newest comers into the smart home arena geared towards aging adults. The company is currently piloting a variety of smart devices in two of its stores that through monitoring and awareness hope to give aging people greater independence and healthier lives. Best Buy is offering an entry-level bundle of devices to assist with challenges of aging, with an additional option for a monthly monitoring service. 

 

As reported in Bloomberg, by 2020 there will be approximately 117 million seniors in the U.S., being cared for by 45 million people. With costs of care continuing to increase, devices and services aimed at improving quality of life and maintaining independence are expected to be a burgeoning market.  

 

Best Buy has teamed up with UnitedHealth Group Inc, an insurance company with expertise in providing trained dietitians, therapists, and other personnel for the unique needs that aging populations require. Speaking of the challenge of proving appropriate accommodations for this rapidly growing population, Dr. Rhonda Randall, Chief Medical Officer of UnitedHealthcare Retiree Solutions wrote, "We don’t have enough long-term-care facilities to take care of people, and 90 percent of seniors want to stay at home. They may be nervous about that.” 

 

Best Buy is betting big that smart home devices and home monitoring will help people as they get older maintain more active, healthier lives at home. [Source: Matthew Boyle, Bloomberg]