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HomeBest Practices → Re-imagining Elder Care: Creating a More Financially Sustainable, Community-Focused Model

Re-imagining Elder Care: Creating a More Financially Sustainable, Community-Focused Model Print E-mail
Written by David Friend, MD, MBA & Chris Cooper, RN, MHA, MIM | BDO   
Friday, 25 October 2019 17:12

Elder care is in a race against time. In 2016, there were approximately 45 million Americans over 65. This cohort represents 16 percent of the population, but an astounding 36 percent of overall healthcare spending. At nearly $18,000 per person, we spend five times more on older Americans than we do on children. Further, the senior population continues to grow rapidly, forecast to reach more than 80 million individuals, or nearly double, by 2050. The math is simple: today's way of caring for the elderly is unsustainable. Healthcare organizations, especially those in parts of the Midwest with larger proportions of seniors, must re-imagine the way they care for them...now. The industry needs to place greater emphasis on investment in empathy- and community-based care focused on preserving and improving quality of life. Seniors are already demanding such care, fueled by five industry forces that will shape the future of elder care.

Last Updated on Thursday, 28 November 2019 10:22
 


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