Posts
This post is the first in a series of articles that I call Game Changers. The series is derived from a presentation by the same name that I gave across the US in the fall of 2009. There are four significant trends that have collided. In the collision everything is changing.
For health, rehabilitation and fitness providers the change is like going from bowling to hockey. Hardwood is being replaced by ice. Shoes are being replaced by skates. Frames are being replaced by periods and pins have been replaced by goals. Jerseys replace shirts and a puck replaces the ball. Hey, where did those sticks, helmets, and pads come from? Is the crowd always this roudy?
For health, rehabilitation and fitness providers the change is like going from bowling to hockey. Hardwood is being replaced by ice. Shoes are being replaced by skates. Frames are being replaced by periods and pins have been replaced by goals. Jerseys replace shirts and a puck replaces the ball. Hey, where did those sticks, helmets, and pads come from? Is the crowd always this roudy?
The game has changed, and unless your business model changes with it your practice is rapidly becoming irrelevant, your competitive advantage is becoming compromised, and your income and investments are at risk.
The business paradigm in health, rehabilitation and fitness is not being shifted - It is being replaced!
Let's consider the first of the four game changing trends - the Graying of America...
For the last 50 years US demographers have been tracking and predicting the impact of the post WWII population explosion commonly referred to as the baby-boomers. It is a demographic group that has been calling the shots and setting the trends ever since the 1960's and will continue to do so for the next 20+ years.
The inflection point for baby-bomer retirement was 2008 - It was the year when the leading edge of the baby-boomers first moved into retirement and the numbers are increasing exponentially! If we take 2005 as a base line, there were about 35 million people over age 65. By 2015, just four years from now, there will have been a 25% increase in people over age 65. By 2025, the number of seniors will have increased by 70%!
Today's seniors are fundamentally different from previous generations. They are a generation that marched for civil rights, protested war, opposed nuclear weapons, introduced a sexual revolution, demanded women's rights, opposed big business, introduced environmentalism, embraced the digital revolution, transformed medicine and communications, leveraged globalization and world banking, created new economic models, caused the colapse of communism, inspired an economic boom unequaled in the history of man, and much more...
They are a generation that expects change, - no, DEMANDS change. And so it will be in their retirement as well. Health, personal independence, quality of life, and staying active will be priorities. They will not go quietly into long term care facilities and they will not tolerate outdated services or poor accommodations. They will not passively follow tradition. They are a generation that expects a "Disney experience" in everything they engage.
In such change lie both challenge and opportunity for those who would provide baby-boomers with health services.
Here are some facts...
> The number of seniors is growing exponentially.
> Seniors will drive opportunity and expectations in most business sectors - especially health.
> Their use of medical services will increase dramatically- the use of rehab doubles over age 65.
> Over 75% of US wealth is controlled by people over age 65 and that percentage is increasing .
Seniors have the numbers and resources to get what they want. Every health provider needs to understand what it is that they want and what is will take to provide them with it. This tremendous increase of seniors who will require rehabilitation and conditioning holds great opportunity for qualified and competitive providers.
The business paradigm in health, rehabilitation and fitness is not being shifted - It is being replaced!
Let's consider the first of the four game changing trends - the Graying of America...
For the last 50 years US demographers have been tracking and predicting the impact of the post WWII population explosion commonly referred to as the baby-boomers. It is a demographic group that has been calling the shots and setting the trends ever since the 1960's and will continue to do so for the next 20+ years.
The inflection point for baby-bomer retirement was 2008 - It was the year when the leading edge of the baby-boomers first moved into retirement and the numbers are increasing exponentially! If we take 2005 as a base line, there were about 35 million people over age 65. By 2015, just four years from now, there will have been a 25% increase in people over age 65. By 2025, the number of seniors will have increased by 70%!
Today's seniors are fundamentally different from previous generations. They are a generation that marched for civil rights, protested war, opposed nuclear weapons, introduced a sexual revolution, demanded women's rights, opposed big business, introduced environmentalism, embraced the digital revolution, transformed medicine and communications, leveraged globalization and world banking, created new economic models, caused the colapse of communism, inspired an economic boom unequaled in the history of man, and much more...
They are a generation that expects change, - no, DEMANDS change. And so it will be in their retirement as well. Health, personal independence, quality of life, and staying active will be priorities. They will not go quietly into long term care facilities and they will not tolerate outdated services or poor accommodations. They will not passively follow tradition. They are a generation that expects a "Disney experience" in everything they engage.
In such change lie both challenge and opportunity for those who would provide baby-boomers with health services.
Here are some facts...
> The number of seniors is growing exponentially.
> Seniors will drive opportunity and expectations in most business sectors - especially health.
> Their use of medical services will increase dramatically- the use of rehab doubles over age 65.
> Over 75% of US wealth is controlled by people over age 65 and that percentage is increasing .
Seniors have the numbers and resources to get what they want. Every health provider needs to understand what it is that they want and what is will take to provide them with it. This tremendous increase of seniors who will require rehabilitation and conditioning holds great opportunity for qualified and competitive providers.
The Graying of America is causing old agendas and priorities to be replaced. It is changing spending and services It is changing economic realities for their children and grandchildren It's big, really BIG! If this reality isn't changing your business strategy, services and operations, your finanical and job security are both at risk.
The Graying of America is a Game Changer that demands your attention. But its not the only Game Changer at work - there is more, much more and it is coming at us like a freight train!
"We've put more effort into helping folks reach old age than into helping them enjoy it."
The Graying of America is a Game Changer that demands your attention. But its not the only Game Changer at work - there is more, much more and it is coming at us like a freight train!
"We've put more effort into helping folks reach old age than into helping them enjoy it."
- Frank A. Clark
More next post... National Health!
All the Best!
Bob
(c) Copyright 2009
0 comments:
Post a Comment