Over the past year, we’ve heard several times that a new age in medicine is dawning. Specifically,the focus of medicine is evolving from treatment of the sick to prevention of illness; health care instead of sick care. A greatly enhanced ability to individualize treatment based on unique personal characteristics combined with the power of digital communication facilitated by smartphones is imminent. These advances will change all our lives.
The implications of extended client lifetimes for our business cannot be overemphasized. The probability that average lifespans will increase significantly within the next 5-10 years calls for reexamination of the meaning of retirement income. We’ll be hearing and talking more about this subject in the coming months. The article linked below appeared in today’s Wall Street Journal.