Business Models for Wireless AAL Systems — Financing Strategies

Abstract

This paper presents results that have emerged during the development of an Ambient Assisted Living (AAL) system designed to enable elderly people who are in need of care to stay longer independently in their own homes. For this purpose, various already existing devices, such as devices for recording vital data, recognition of dehydration, memory functions, and the like, will be combined with innovative new developments, such as a language assistant specially designed for the target group. The resulting Ambient Assisted Living system includes a minimally invasive radio transmission system and intelligent home sensors. In a cloud portal, data is collected, stored, transmitted and managed. In addition to the development of innovative technical solutions, a sustainable and profitable collaborative business model needs products to be developed for the sustainable establishment of services in the market. This would require appropriate financing strategies that go beyond direct financing by the user/resident. The German healthcare system in particular offers ideal conditions for a hybrid pricing model. This could benefit both the economy and society.