A few days ago, we came across this report from MetLife which urges communities, government and the public and private sectors to make sweeping changes to accommodate seniors’ desire to remain in their homes.
According to the report, multiple studies in the past 10 years have shown that most Americans over age 45 prefer to remain in their own homes, even when assistance with activities of daily living is necessary. The MetLife report focuses on the age 65+ population, now 13% of the U.S. population. It says the age 85+ population, at greatest risk of being disabled, is expected to grow to 8.7 million people in 2030 from 4.3 million in 2000.
In the coming years adjustments will need to include homes in which residential design, health care services and new monitoring technologies are combined with comprehensive community care services to form a dynamic and efficient home health management system.
Referred to as AiP2.0, this new Aging in Place blueprint envisions a more efficient use of available resources and an enhanced and better coordinated service delivery mechanism, while also leading to the creation of business opportunities for the private sector.
“Wherever older individuals live, whether in their own homes or in a care facility, the setting may be inefficient for many people, since a person’s need for care fluctuates as medical conditions come and go, often resulting in the need to move back and forth between multiple care settings,” says Sandra Timmermann, Ed.D., director of the MetLife Mature Market Institute.
She adds, “A new integration of care services, home design and technology, as outlined in AiP2.0, will likely lead to less stress for older adults and their caregivers, supporting a better quality of life for all of them.”
The report points to new business opportunities in the Aging in Place market in such areas as health care, meals, supplies and transportation that will be integrated with public sector services. Another category will be assistive technology to connect homes with provider networks featuring monitoring and data transmission. The report lists five steps to developing AiP2.0:
- Homes prepared for Aging in Place through individual investment, subsidies and incentives
- Investment in businesses that will connect market sectors to improved service delivery
- Development of care management, social interaction, wellness and transportation systems
- Care management designed to dispatch services when needed
- Care delivery models to make better use of available, paid caregiver resources to meet the needs of individuals in the community
In addition to improving the quality of life for seniors, an AiP2.0 system has the potential for numerous cost savings and benefits, including:
- Support and stress reduction for family caregivers
- Employment opportunities in the caregiving arena to attract individuals to the field
- Better application and efficient use of resources
- Acute-care cost reduction through better chronic care self-management
- Fewer injuries and illnesses
- Reduction of redundant services
The full report can be downloaded from www.MatureMarketInstitute.com. Let us know your thoughts as well!