Rising Demand for Specialized Care Services Boosts Homecare Business
Today’s post breaks down how America’s growing over-80 population is changing the demand for senior care services – and how Executive Care’s homecare business model is set up to meet this unprecedented demand.
America’s over-80 population is skyrocketing
The journal of Social Work in Health Care reported on the unprecedented growth of America’s over-80 population way back in 2004 (Spitzer et al., 2004, p. 21-23). Pointing to advances in medical technology and nutritional science, Spitzer et al. (2004) estimated that the over-80 demographic would grow from 3.8% of the total population to an incredible 5.3% by 2030 (p. 23).
5.3% might not sound like much, until you see US Census Bureau reports citing the current US population at around 325.7-million. If we applied that 5.3% figure today, we’d have about 10-million older seniors relying on homecare businesses like ours.
But that doesn’t tell the whole story. Though the Census Bureau does predict slowing birth rates as we approach 2030, the U.S. population is still expected to swell to 359.4-million by then, which makes that 5.3% figure all the more impressive.
More older seniors means greater demand for specialized care services
Older seniors’ heightened risk of chronic disease, disabilities, dementia, and other health issues is well-established.
For example, the journal of Clinical Interventions in Aging determined that older women are at significantly higher risk of osteoporosis than their younger senior counterparts. According to their research, the prevalence of osteoporosis based on reduced hip bone density was estimated at 4% in women to 50 to 59 years of age, compared to 44% in women 80 years of age and older (Vondracek&Linnebur, 2009, p. 121).
Similarly, the prevalence of Alzheimer’s disease increases as the population ages. This information isn’t new; back in 1989, the Journal of the American Medical Association uncovered the age-prevalence connection, noting that 18.7% of seniors aged 75 to 84 and 47.2% of those over 85 years suffered from Alzheimer’s disease (Evans et al., 1989).
By 2030, the demand for live-in and dementia care services will be off the charts.
Additionally, senior care providers can expect a sharp rise in the demand for specialized and intensive care services to address conditions such as:
- Multiple sclerosis;
- Spine and brain injury;
- Developmental disabilities.
Homecare businesses will also need to expand their live-in caregiver services for those free of chronic conditions who simply need help with Activities of Daily Living that may be difficult due to mobility restrictions or low energy. Live-in caregivers stay in the home 24-hours a day and are available to assist as needed, providing a mix of personal, social, and domestic in-home care and supervision according to your individual care needs.
Make money and make a difference with Executive Care’s homecare business model
If you’re considering starting a homecare business, Executive Care is a smart investment. That’s because we’ve built our model around America’s changing population and senior care needs. Our homecare business offers a whole suite of intensive care services that allow our franchisees to maximize their profitability and also make the greatest impact in their communities.
To learn more about our over-80 care services, or to get further details on our homecare business model, visit https://executivehomecarefranchise.com
Evans, D. A., Funkenstein, H. H., Albert, M. S., Scherr, P. A., Cook, N. R., Chown, M. J., & Taylor, J. O. (1989). Prevalence of Alzheimer’s disease in a community population of older persons: higher than previously reported. Journal of the American Medical Association, 262(18), 2551-2556.
Spitzer, W. J., Neuman, K., & Holden, G. (2004). The coming of age for assisted living care: New options for senior housing and social work practice. Social Work in Health Care, 38(3), 21-45.
Vondracek, S. F., &Linnebur, S. A. (2009). Diagnosis and management of osteoporosis in the older senior. Clinical Interventions in Aging, 4, 121.