For instance, Cochrane just updated last week their 2008 interventions to prevent falls in community dwelling elderly. In order to perform their update, they reviewed 159 trials involving 79,193 participants. Their conclusions? Group & home exercises both reduced the rate of falls & risk of falling in a statistically significant fashion. Tai Chi also made a dramatic difference when practiced regularly. Getting rid of psychotropic medications made some improvement in a small sampling of patients.
Bottom line: get active & stay active to minimize your risk for falling.