We'll treat you like family!
Archive for October, 2011
Long-Term Care Costs Rise Again
Oct 27th
Metlife Mature Market Institute does an annual survey of Nursing Homes, Assisted living facilities, Adult Day Services, and Home Care Costs. The 2011 survey found that costs have increased
4.4% or more. Here are some key findings:
The national average daily rate for a private room in a nursing home rose 4.4% from $229 in 2010 to $239 in 2011.
The national average monthly base rate in an assisted living community rose 5.6% from $3,293 in 2010 to $3,477 in 2011.
The national average daily rate for adult day services rose 4.5% from $67 in 2010 to $70 in 2011.
And here are the figures for San Diego.
Nursing Homes
Semi-private room: Low – $187; High – $295; Average – $224.
Private room: Low – $200; High – $395; Average: – $271.
Assisted Living Facilities
Base rate per month: Low – $2,075; High – $6,900; Average – $4,031
Home Care Costs
Home Health Aid (hourly): Low – $19; High – $22; Average – $21.
Homemaker (hourly): Low – $19; High – $22; Average – $21.
Adult Day Services
Daily cost : Low – $47; High – $88; Average – $75
On a personal note, for many of us operators of assisted living facilities in greater San Diego area, the last two years were not the best, More >
Baby Boomers Predictions
Oct 24th
I saw a posting by Skip Franzel on LinkedIn regarding an article in Forbes, written by Susan Adams. The article entitled The Prophet of the Coming Aging Boom talks about Ken Dychtwald who predicts a tidal wave he calls “the Age Wave.” “Dychtwald’s message: Baby boomers, the 78 million Americans born between 1946 and 1964, present a vast market for a potential explosion of products and services, from new dating websites to longevity insurance to new kinds of food.” You can see the posting at http://www.linkedin.com/news?viewArticle=&articleID=854095514&gid=163619&type=member&item=76298892&articleURL=http%3A%2F%2Ft%2Eco%2FBJNYdZeC&urlhash=ILEH&goback=%2Egde_163619_member_76298892%2Egmp_163619%2Egde_163619_member_76298892
Here is my response to the posting. Tell me what you think about the posting and my response to it.
I find Ken Dychtwald’s passion and knowledge of the senior’s buying power commendable. However, I am concerned with the possibility of over-commercializing the baby boomer issue. Even though my livelihood and the livelihood of hundreds of thousands of people depends on selling to the elderly, I am worried that we might get tunnel vision and concentrate our efforts only on selling (even if our products and services are newer, better, etc.). So I was encouraged to hear that Ken Dychtwald is also concerned with the “aging’s dark side,” like the dearth of geriatricians, insufficient funding to prevent diseases, and More >
