This week, the Alzheimer’s Association released their 2013 Facts & Figures Report. The numbers are unsettling:
- Someone develops Alzheimer’s every 68 seconds.
- There are more than 15 million Alzheimer’s and dementia caregivers, providing over 17 billion hours of unpaid care, valued at over $216 billion.
- In 2013, Alzheimer’s will cost the US $203 billion, a number that is projected to hit $1.2 trillion by 2050.
View the rest of the Facts & Figures highlights here:
In response to the report, this article from Senior Housing News: Memory Care to Cost Patients $203 Billion in 2013. According to Jason Oliva’s piece, Medicare and Medicaid will carry nearly all of that $203 billion dollar burden; the program’s combined costs hitting somewhere around $142 billion.
Perhaps calling it a business isn’t entirely accurate, but Alzheimer’s care is a tremendous cost burden on caregiving families, in neighborhoods and communities, and on the businesses that employ dementia caregivers. The impact is far-reaching.
With facts and figures like the above, it’s no wonder why senior living communities tailored to serving individuals with Alzheimer’s and dementia are the fastest growing sector in the industry — and will likely continue to be.