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The aged care sector in Australia faces significant challenges. While many ofthese issues have been clearly identified, their urgency has been furtherhighlighted during the COVID-19 pandemic. Technology such as in-home monitoringis one way to address some of these challenges. However, the efficacy oftechnology must be considered together with its implementation and runningcosts to ensure that there is a return on investment, and it is economicallyviable as a solution. A pilot program was run in-home monitoring system to testthe efficacy of this system. This paper focuses on an economic analysis tobetter understand the financial viability of such systems. Using a secondaryanalysis approach, the findings identified that revenue could be generated byproviding carers with additional services such as real-time monitoring of theclient, which can foster deeper relationships with the customer, along withsavings of healthcare costs to carers, service providers and Government.Savings are related to the earlier intervention of critical events that areidentified by the system, as delays in treatment of some critical events cancreate much more severe and costly health outcomes. Further health costssavings can be made via trend analysis which can show more nuanced healthdeterioration that is often missed. The implementation of preventative measuresvia this identification can reduce the chances of critical events occurringwhich have much higher costs. Overall, monitoring systems lead to a transitionfrom a reactive to a preventative services offering, delivering more targetedand personalised care.

The Economic Viability of an In-Home Monitoring System in the context of an Aged Care Setting