In 2005 Washington state had several hundred thousand individuals being cared for in nursing homes at a total cost of about $94 million per day, not including assisted care or veterans’ facilities. If “smart home” technology allows just ten percent of those individuals to live at home, it could save Washingtonians approximately $9.4 million a day or $3.4 billion a year.
The Life Sciences Discovery Fund, a Washington state agency established in May 2005, makes grant investments in innovative life sciences research to benefit Washington and its citizens. Funding for the grant program comes from Washington’s share of bonus payments under the Master Tobacco Settlement, with revenues derived from multi-state litigation with tobacco product manufacturers.
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