A recent study undertaken by Italy’s UBI Bank with Duff & Phelps REAG and Legance has produced an analysis of the assisted living sector; this study confronts us with important considerations and a completely new reality. Firstly, with the fact that the elderly are incredibly numerous. They need a welfare policy that balances their care and their independence.
“The social and financial system that we inherited from the past was not designed to address the challenges arising from the data presented in this study”.
Italy is gradually getting older.
Those over the age of 65 are on the rise; life expectancy is growing, while young people have considerably fewer children than in the past.
The numbers of transformation: the elderly on the rise
In Italy there are 13.6 million citizens over 65 years of age.
In 2035, the number will reach 17.8 millions.
The increase in percentage terms reaches 31%.
There are 2.1 million Italian citizens over 85 years of age.
By 2035, it’s going to be 3 millions.
The increase in percentage terms reaches 43%.
There are currently 16,000 people over 100 years old in Italy.
By 2035, there will be 42,000 of them.
The increase in percentage terms reaches 170%.
This steady increase will continue. According to the Italian Institute of Statistics, the average life expectancy will grow by more than five years for both genders by 2065. It will reach 86.1 years for men and 90.2 years in the case of women.
Greater self-sufficiency and independence in elderly care
The available data suggest that non self-sufficient elderly people may increase by three times within assisted care facilities.
Ageing, combined with the new possibilities that science offers to care for one’s body; it confronts us with important questions. The meaning of life; one’s dignity; and finally, how we will deal with new challenges in this respect.
Looking at the data, there is no doubt that we are facing a crisis in our social welfare system. It will have to face a rise in the demand for social services with scarce economic resources to do so.
“Faced with all of the above, it is clear that we need to be ready in an alternative way.”
An alternative way
Teseo is a pioneering start-up that has placed personal care at the core of its research and development, so as to help the elderly in maintaining good levels of autonomy and freedom.
Getting involved in supporting good habits through technology is a first step towards finding the answers to the challenges of the present time.
Monitoring behavior and allowing us to be involved in caring for our loved ones, while also maintaining high levels in their freedom, is a challenge that the Kibi system, designed by Teseo, has decided to tackle.
Assisted Living Facilities and home assistance
“Assisted living facilities are the first area where the Kibi integrated system will be able to demonstrate its strength.”
Higher levels of security and monitoring can lead said facilities to better target their own resources, providing services that aim to improve the living conditions of the elderly while slowing down the process of being dependent on the facility itself and its staff.
Moreover, the long-term goal will be to allow seniors to stay in their homes for as long as possible, achieving higher levels of safety and comfort.
In conclusion, having a Kibi system in the homes of our loved ones could represent a valid help and, in many cases, would allow to maintain high living standards as well as a high degree of independence, without them having to worry and feel anxious.