The rule of supply and demand is simple. When there is a high demand, the cost of the supply goes up. When supplies flood the market, the demand and associated costs go down due to the ease of getting the product or service. That model does not hold up when it comes to the senior care industry.
According to a 2011 Aging in Place study by the National Conference of State Legislatures and the AARP Public Policy Institute, demand is higher for home care services than for more traditional, facility-based models of senior care. The study found that 90 percent of those older than 65 want to stay in their home as long as possible; and 80 percent believe they will always live where they are now. “What’s interesting about this increase in demand,” said Robert Bua, President of CareScout, a Genworth company, “is that the cost of home care is not increasing year-to-year.”
The Cost of Care Each year, Genworth completes the Cost of Care study. The study collects and compares the costs of home care agencies, assisted living communities, and nursing home facilities.
In the past year, the cost of private duty home care remained flat with zero percent growth, and in the past five years More >
Guest Blog by Jeffrey Wolf, Content Writer for Homewatch International, Inc.
I was the youngest person there by at least 20 years, possibly by 40 – that’s what the nurses told me my third day in. At 25, I was among the youngest adult patients admitted to the cardiac wing of the hospital in a long time. A man in his 20s shouldn’t need cardiac care and shouldn’t have a heart attack. For several days, the doctors even danced around the term “heart attack,” saying they needed more tests to be sure.
But yes, I’d had a heart attack while lying on my bed reading the latest “Harry Potter” novel. I wasn’t your typical cardiac patient. I wasn’t an 80-year-old man in need of elder care, I wasn’t morbidly obese (although I was overweight), I didn’t have high blood pressure, and I didn’t smoke or take recreational drugs. My heart attack happened because I had a very rare illness as a baby called Kawasaki disease. I believe I was the 47thcase in the country. In 50 percent of patients, Kawasaki causes cardiac problems later in life. So by the flip of a coin, my heart suddenly sped up on a July afternoon and More >
In late December, Homewatch CareGivers reached a major milestone.
Since January 2000, the offices in the Homewatch CareGivers network have provided more than 30 million hours of senior home care and home help services. After reaching this accomplishment we just have two words to say: Thank you.
We know this achievement is due to our clients, caregivers and partners, so we want to make sure and thank all of those who made this possible.
To the people we help:
Thank you to the families that trust us every day. You rely on us to take care of your mothers, your fathers, your husbands, your wives, and your sick children. We feel privileged and honored that you reach out to us for help.
“What greater honor for someone to give you than to trust you with their parents? We really have nothing greater in the world than our family,” said Barry Weber, co-owner of the Homewatch CareGivers office in Myrtle Beach, S.C.
At Homewatch CareGivers, our motto is “Let our family care for yours.” This is not just something we say, it is something we do. We constantly try to find new and better ways to make sure the care your loved ones get is the same care we would want More >