Growing Wave of Senior Citizens Challenges Caregivers and Business Community
Growing Wave of Senior Citizens Challenges Caregivers and Business Community
'Silver Tsunami' Will Change the Corporate Landscape
Corporations and caregivers are taking unprecedented action to prepare for the wave of 90 million Americans who will be 65 and older over the next 40 years, essentially doubling today's senior population.
According to the U.S. Census figures, 72 million (1 out of 5) Americans
will be 65 or older by 2030. The health care issues that come with an aging
population are increasingly being shouldered by family and friends, who
provide an estimated 80% of all eldercare.
"One in four families across the U.S. is now dealing with caregiving
issues. As people live longer, this will continue to be a growing issue,"
according to Robert Brooks, CEO ElderCarelink, a leading internet service
which connects consumers to providers of eldercare products and services.
Interestingly, only 8% of elderly Americans reside in nursing homes.
The vast majority are cared for at home by their family or close friends
who take on the role of informal caregivers without any formal medical
training or compensation.
These trends are having a profound impact on corporate America, as more
and more employees are forced to miss work, cut back on hours, or leave
their jobs altogether in order to care for an elderly family member.
According to one estimate, caregivers lose an average of $650,000 in lost
wages, social security benefits, and pensions when they provide care for
their elderly family members.
The cumulative impact on U.S. businesses is no less compelling.
According to a MetLife study, American businesses lose between 11 billion
and 29 billion per year in lost productivity due to workers' absences,
reduction of hours, and early retirement related to their caregiving roles.
Add to that, the skyrocketing healthcare costs related to the stress of
caregiving and the impact on the bottom line is even greater.
The increasing demand from employees and employers has fueled explosive
growth in eldercare products and services. According to ElderCarelink,
there has been a 90% increase in the number of senior care and assisted
living residences applying to participate in the ElderCarelink network.
"The internet has become a prime resource for caregivers, both family and
professional, who are already coping with an elder care situation. The
increase in support networks and information resources continues to grow on
a parallel course to the aging population," Brooks explained.
About ElderCarelink
ElderCarelink, a leading provider of qualified lead generation services
within the eldercare industry, assists families in finding a multitude of
senior services, including assisted living, nursing homes, adult day care,
private duty nursing, care management and homecare in all 50 states.
'Silver Tsunami' Will Change the Corporate Landscape
Corporations and caregivers are taking unprecedented action to prepare for the wave of 90 million Americans who will be 65 and older over the next 40 years, essentially doubling today's senior population.
According to the U.S. Census figures, 72 million (1 out of 5) Americans
will be 65 or older by 2030. The health care issues that come with an aging
population are increasingly being shouldered by family and friends, who
provide an estimated 80% of all eldercare.
"One in four families across the U.S. is now dealing with caregiving
issues. As people live longer, this will continue to be a growing issue,"
according to Robert Brooks, CEO ElderCarelink, a leading internet service
which connects consumers to providers of eldercare products and services.
Interestingly, only 8% of elderly Americans reside in nursing homes.
The vast majority are cared for at home by their family or close friends
who take on the role of informal caregivers without any formal medical
training or compensation.
These trends are having a profound impact on corporate America, as more
and more employees are forced to miss work, cut back on hours, or leave
their jobs altogether in order to care for an elderly family member.
According to one estimate, caregivers lose an average of $650,000 in lost
wages, social security benefits, and pensions when they provide care for
their elderly family members.
The cumulative impact on U.S. businesses is no less compelling.
According to a MetLife study, American businesses lose between 11 billion
and 29 billion per year in lost productivity due to workers' absences,
reduction of hours, and early retirement related to their caregiving roles.
Add to that, the skyrocketing healthcare costs related to the stress of
caregiving and the impact on the bottom line is even greater.
The increasing demand from employees and employers has fueled explosive
growth in eldercare products and services. According to ElderCarelink,
there has been a 90% increase in the number of senior care and assisted
living residences applying to participate in the ElderCarelink network.
"The internet has become a prime resource for caregivers, both family and
professional, who are already coping with an elder care situation. The
increase in support networks and information resources continues to grow on
a parallel course to the aging population," Brooks explained.
About ElderCarelink
ElderCarelink, a leading provider of qualified lead generation services
within the eldercare industry, assists families in finding a multitude of
senior services, including assisted living, nursing homes, adult day care,
private duty nursing, care management and homecare in all 50 states.
posted by Famous Blogger @ Senior Assisted Living
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