According to the U.S. Census Bureau, the number Americans over age 65, "will more than double between now and the year 2050, to 80 million." As a result, more people will need care than ever before. The recently published Handbook of Geriatric Assessment, Fifth Edition from Editors Terry Fulmer, PhD, RN, FAAN, President, The John A. Hartford Foundation and Bruce Chernof, MD, FACP, President & Chief Executive Officer, The SCAN Foundation takes a contemporary approach in line with patient and family centered care. With contributions from the foremost experts in the field, it contains the latest information on geriatric assessments for older adults.
Here is another thoughtful blog post from Bob O’Toole, contributing author to Cathy Cress’s Handbook of Geriatric Care Management, Third Edition.
Rethinking the Private Geriatric Care Management Business: A 3 Part Series, Part 1 by Bob O’Toole
In recent years, numerous entrepreneurs have ‘discovered” the eldercare market, determined it was a veritable gold mine and developed various business models to mine the mother lode.
In their May 26th, 2011, issue, Wall Street Daily Research published an article that described the eldercare services industry as “The Big Business of America’s Graying Population.”
“The business of caring for the elderly  is growing, as Americans’ busy lives and distant locations make it tougher to take on the hands-on care often needed for loved ones.”
Some have been successful; many have failed, losing –collectively- millions of dollars in the process.
The biggest mistake these spectacular failures have made is to assume that the market for eldercare services, such as professional geriatric care management and private duty home care services is huge.
Check out this interesting blog post from Bob O’Toole, contributing author to Cathy Cress’s Handbook of Geriatric Care Management, Third Edition.
Understanding the Difference between “Need” and “Demand”:Don’t Base Your Eldercare Business Plan on the Growing Number of Those in Need of Caregiver Support
"America is rapidly moving to a two-tiered system of long-term care services. One provides a range of high quality services for those who can afford to pay; while the other offers very limited services and often poor quality care. This is, perhaps, the major domestic issue facing Americans today and will loom larger as the impact of caring for a rapidly aging population becomes more urgent.
It is tempting to look at the research data and conclude that the market for services to an aging population is vast. The National Alliance for Caregiving in collaboration with AARP published a study in November 2009 that estimates there are at least 43.5 million caregivers age 18 and over, equivalent to 19 percent of all adults, who provide unpaid care to an adult family member or friend who is age 50 years or older."