MATURE MARKET HEADLINES POSTED 01/26-30/98
Plastic Surgery Popular, Routine, Affordable
As millions of baby boomers pass the half-century mark, they're starting to give Mother Nature a little help. Sure, diet and exercise are central to health and wellness. But more and more, plastic surgery is moving into the mainstream of this anti-aging movement. As a nation, we talk about it more often on television, over the radio, and in the newspaper.
Maybe the reason you're reading this right now is you're considering the idea and want to know more. That's because plastic surgery has become more popular, routine, and affordable. It's increasingly popular because the stigma of vanity seems to be gone. We openly discuss what we used to only whisper. People aren't afraid to admit that they're considered the idea. We've gone from the whispered "Do you think she's had it done?" to "How MANY facelifts do you think she's had?".
Plastic surgery has also become more routine. For example, liposuction, the most popular kind of plastic surgery, is routinely performed on an outpatient basis in nine out of ten cases. Outpatient, in case you're wondering, includes such non-hospital locations as the surgeon's office and surgi-centers. Women are the most frequent consumers liposuction surgery (87%).
Thighs, hips, and abdomens get the most attention. How much? Twice as much liposuction is performed in these areas then on more visible body parts such as the face and neck. Hmmm. We still want to look good in our birthday suits. Men are into aesthetic surgery too. The most popular plastic surgery for men is "nose reshaping". Hey, we don't even call it a "nose job" any more. How's that for stigma reduction.
Finally, in addition to being popular and routine, plastic surgery is more affordable these days. No not because of bargain basement prices. In fact, the price doesn't always matter because about half of all plastic surgery patients used OPM, Other People's Money. In other words, some type of managed health care insurance covered the reconstructive plastic surgery procedure.
Okay, we're at the end of the story. So maybe you're about to step over that line in the sand and consider having a procedure. Your first stop should be the American Society of Plastic and Reconstructive Surgeons (ASPRS) which represents 97 percent of all physicians certified by the American Board of Plastic Surgery. If you have questions, call their Plastic Surgery Information Hotline at: 1-800-635-0635. You'll get reading material and a referral to resources in, or near, your home town.
AgeVenture News Service, www.demko.com
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Feds Fix Fraud Fretting Home Health Future
The need for home health care seems to be surpassed only by the greater need to eradicate the epic proportions of fraud now occurring in that industry. The government estimates an annual loss of $23 billion in Medicare fraud, including home health care.
It's a tough industry to regulate because the 10,000 home health agencies serving today's Medicare beneficiaries provide their services behind closed doors, so to speak, in private homes across America. Those 10,000 agencies serve 4 million of Medicare's 37 million beneficiaries. One of the results, according the government estimates, is that two out of every five home health claims billed to Medicare are unjustified or downright fraudulent.
What makes matters worse is that home care is the fastest growing component of Medicare. For example, since 1990, Medicare spending for home health care increased more than 400 percent from under $4 billion to nearly $18 billion today. What exactly does the government plan to do about an industry where consumer need, agency expansion, and unabated fraud have become mainstays?
The Feds plan to whip the industry into shape by working on a number of fronts. For example, stepping-up audits. First, the annual number of comprehensive home health agency audits will be doubled. Second, the number of home health agency claims subject to review will be increased from its current level of 200,000 to 250,000. Third, all home health agencies will be required to submit independent audits at the time of re-enrollment with Medicare.
On another front, the Feds will better screen provider agencies by requiring new home health agencies to demonstrate capability by serving a minimum number of patients BEFORE applying for Medicare certification. On a final, and perhaps more important front, the Feds will work to reduce the potential for conflict-of-interest by requiring home health agencies to disclose any interests in related businesses.
Some industry observers might think these regulatory measures paint a lackluster future for the home health care industry. However, in the opinion of AgeVenture, the home care industry may very well emerge as a much healthier player in the growing eldercare enterprise because incompetent, inexperienced, and poorly managed agencies will be weeded out of the industry.
So, short-term, the regulation will slow industry growth. But in the long term, a healthier industry may emerge when competent, efficient, and cost-effective performance create a climate for deregulation in the future. There is absolutely no doubt that home care is more cost-effective than the institutional care of a nursing home costing $30,000 per person. If you doubt that cost-effectiveness, just multiple $30,000 times the 25% of the 76 million baby boomer generation who will be candidates for nursing care in the future.
Sure, detractors will say that some nursing home residents CANNOT be cared for in a residential home environment. But it's also true that the majority of residents in a nursing home are there because they have no place else to go. Home care will give them that option. If there's a downside to the long-term growth of the home care industry, I haven't found it.
AgeVenture News Service, www.demko.com
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Boomer Diabetes Risk Sweetens Profits
As I like to say, one person's need is another's opportunity to fulfill that need. And, there seems to be no better case in point then the growth of diabetes among the nation's explosive baby boomer population. But I'm getting a little ahead of myself. So let's start at the beginning. Diabetes is the sixth leading cause of death by disease. 800,000 new cases are diagnosed each year.
Of the current 15 million cases, 8 million are undiagnosed, and therefore untreated. Untreated Type-2 diabetes can lead to serious diseases of the heart, blood vessels, kidneys, and eyes. In men, it can also lead to impotence. In case you're wondering, Type-2 diabetes occurs when the body is unable to make enough insulin or the body can't use the insulin that's already there.
Fortunately, Type-2 diabetes can be managed through diet, exercise, and medication. That's why today's high-calorie diets and sedentary lfiestyle are the major risk factors driving this health trend. America's 76 million baby boomers are a high risk group, especially those who over-eat and lead a couch-potato lifestyle. As a case in point, 80% of people with Type-2 diabetes are overweight.
To make matters worse, baby boomers are faced with the prospect of managing this lifelong disease for a greater number of years than the senior citizens a generation before them. For example, the average age of baby boomers initially diagnosed with Type-2 diabetes is 37 years versus 54 years of age for their parents' generation. The healthcare industry is responding to this astounding trend by creating products and services that address what I call the BIG THREE treatment formula: diet, exercise, and medication.
On the medication front, the Sankyo Company of Japan and the U.S. Parke-Davis Company have co-developed a new medication called Rezulin for Type-2 diabetes. It is an oral medication that reduces insulin resistance, helping some Type-2 diabetes patients on insulin to reduce or eliminate their daily insulin injections.
However, some adverse reactions have been identified during clinical trials of the new medication. It's also worth noting that because Rezulin requires the presence of insulin activity in the body, the medication isn't an appropriate treatment for Type-1 diabetes where the patient does not produce insulin, or for the treatment of a condition called "diabetic ketoacidosis". That's when acid and keytones build-up in the body's tissues and fluids.
AgeVenture predicts vigorous BIG THREE market activity in this area in the coming two decades because diabetes costs so darn much to the U.S. economy which takes an annual hit of $100 billion. That kind of broadside is a hard hit for any ship of state. Anyway, the $100 billion cost (for those of you who count these things) is split roughly 50-50 between direct costs (medical, hospital) and indirect costs (lost work productivity). BIG THREE ventures that offer products and services designed to help keep boomers exercising, maintaining ideal weight, and taking preventive medication should fare very well as the baby boomers enter the first-half of the next century.
AgeVenture News Service, www.demko.com
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Prudential Healthcare Travel Tips
If the new year includes travel either overseas or domestic destinations, you'll want to look and feel your best. However, if you don't plan accordingly, you could jeopardize your health and well-being while on your trip. Medical researchers at Prudential Healthcare offer the following checklist for those who want to prevent health hazards that might disrupt or cut-short travel plans.
Things to take with you
- medications and prescriptions
- emergency contact numbers
- exercise clothing
- eyeglass prescription
- sunscreen for all climates
- glare-reduction sunglasses
Before Leaving Home
- make sure your healthcare coverage is portable
- use luggage with wheels
- don't over-pack luggage
Warm Weather Tips
- use sunscreen on exposed areas
- bring lightweight, long-sleeved attire and a hat
- drink plenty of water (thirst-quenching colas will not hydrate your body)
- bring after-swim ear drops, if you plan on taking a dip
Cold Weather Tips
- layer clothing and wear a hat
- drink plenty of water
- use sunscreen on exposed areas
On the Airplane
- try to walk around the cabin every half hour (but, observe the seat-belt signs)
- drink plenty of water to prevent dehydration
- the longer the flight, the more need for water and walking.
Finally, here's a few AgeVenture News travel tips.
- take half as much luggage as you think you need
- take twice as much spending money as you think you need
- mail back your purchases rather than dragging them along with you
- for all the "wish you were here" postcards, take an address book or
print out lists of mailing labels that easily fold into pursue or wallet.
- get a check-up before you take any extended leaves
- get in shape, exercise two weeks before extended vacations
- tell your family where you're going and when you plan to be back
AgeVenture News Service, www.demko.com
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SAVER Act Promotes Retirement Planning
Republicans and Democrats appear to agree on the importance of saving for retirement. Under the sponsorship of Republican Congressman, Harris Fawell and Democratic Congressman Donald Payne, the recently introduced "Savings Are Vital to Everyone's Retirement" (SAVER) Act of 1997 intends to address a critical national problem, the lack of individual retirement savings.
The SAVER Act directs the Department of Labor to maintain an ongoing program of education that includes helping workers calculate their estimated retirement savings needs, describing types of retirement savings available to individuals and employers, and explaining how to establish various kinds of retirement savings accounts. Information will be distributed to workers through public service announcements, educational materials, and an Internet website.
One group destined to play a key role in this national retirement planning effort is the American Institute of Certified Public Accountants, which credentials qualified financial planners. Expect retirement planning to be one of this nation's high-growth industries. Contact your Congressional representative for the current status of the SAVER Act.
AgeVenture News Service, www.demko.com
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Mutual of Omaha Launches Medicare Website
Mutual of Omaha has launched an Internet website specifically for Medicare providers and beneficiaries. The website features innovations designed to assist health care providers who treat Medicare patients and provides valuable information to those eligible for Medicare benefits.
Millions of Medicare beneficiaries will benefit from quicker and easier access to essential information, according to Jim Tucker, Vice President for Medicare Financial Systems and Reporting for Mutual of Omaha. Information distributed at the website includes announcements on Medicare coverage issues, fee schedules, newsletters, health care manuals, fraud and abuse guidelines, and links to other website maintained by the likes of HCFA and the U.S. Department of Health and Human Services.
Medicare providers will have access to the latest medical procedure guidelines and government updates concerning coverage issues. Medicare beneficiaries can retrieve comprehensive information on their benefits. The website address is: www.mutualofomaha.com
AgeVenture News Service, www.demko.com
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These Symptoms Indicate Vision Problems
What signs should point you to an optometrist for treatment of an eye or vision problem? The American Optometric Association says two of the more obvious symptoms of eye and vision problems include blurred vision at any seeing distance or momentary blurred vision when changing focus from near to far or vice versa.
Seeing double or seeing spots or floaters should also serve as warning signs. Any change in your ability to see or distinguish colors should be brought to your optometrist's attention immediately. Other symptoms include accident proneness, a change in your sports performance, headaches, difficulty seeing at night or in dim light, or itching or tired eyes.
Find more information at the American Optometrist Association website at: www.aoanet.org
AgeVenture News Service, www.demko.com
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AgeVenture News Service, 21946 Pine Trace, Boca Raton, FL 33428 USA
Dr. David Demko, Editor
E-mail:newsdesk@demko.com
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