Strategies for growing senior care to accommodate the elder care revolution
Healthcare organizations must adapt as their populations age and as value-based care requires new approaches.
The world is aging rapidly. In the last four decades, the population of those age 65 years and older has nearly doubled, from a 5.5 percent share of the world’s population to 10.3 percent. This offers both challenges and opportunities. By 2030, one in six people in the world will be age 60 years or older. At that point, the world population that’s age 60 years and older will increase to 1.4 billion.
While longer life expectancies indicate improved healthcare and living standards, it also creates growing healthcare challenges to meet the evolving needs of the elderly. This transition highlights a crucial necessity – guaranteeing accessible and effective elder care. By prioritizing elder care, organizations can ensure that they get the support and dignity they deserve.
Challenges in an aging society
Elder care is a multifaceted domain that encompasses a wide range of services and support systems.
Noncommunicable diseases such as heart disease, diabetes, cancer and respiratory conditions are prevalent among the elderly. These diseases kill 41 million people each year, equivalent to 74 percent of all deaths globally. Estimates suggest that, each year, 17 million people die from a noncommunicable disease before the age of 70.
Statistics paint a stark picture of the healthcare burden posed by an aging population. For instance, Japan, with one of the highest life expectancies in the world, has nearly 30 percent of its population age 65 or older. Today, 20 percent of the population of France is older than 65, and in the United States by 2030, 20 percent of the population will be 65 and older.
Considering this, several countries are already pioneering innovative approaches to elder care. In Japan a “Health and Welfare” plan for the elderly was introduced, which includes support for the aging population.
Hospice care and home-based palliative services are becoming more widespread because of investments, ensuring that the elderly can spend their days with dignity and comfort. Singapore has implemented the “Successful Aging” policy, which includes free health screenings for seniors, fitness classes and educational workshops on nutrition as well as chronic disease management. These initiatives reflect a growing recognition of the importance of tailored policies to address the needs of aging populations.
While these systems help elderly individuals receive care within their communities, reducing the burden on hospitals and improving access to services, the region still has a complex mix of challenges that remain prevalent. The pandemic has intensified the role of healthcare for both governments and patients, resulting in a 9 percent increase in investment. Patient numbers have risen by 15 percent to 30 percent across various diseases, indicating a substantial uptick in demand for healthcare products and services.
Healthcare facilities are struggling with overcrowding, declining physician-to-population ratios, limited medicine availability and insufficient funding. The shortage of healthcare workers worldwide is also a rising concern, with an estimated shortfall of 10 million by 2030. This underscores the urgent need for improved healthcare infrastructure and workforce development.
The current model, which often emphasizes acute hospital-based care, is ill-suited for the chronic and long-term nature of elder care. Instead, a shift towards integrated community-based care models is essential. As aging populations often live with chronic diseases, managing them requires a coordinated approach involving various healthcare professionals, caregivers and the patients themselves.
Innovative approaches
One of the most promising solutions is the adoption of value-based care (VBC). Unlike traditional fee-for-service models that incentivize quantity over quality, VBC focuses on providing better health outcomes at lower costs. This approach aligns well with the needs of the elderly, who often require comprehensive and continuous care rather than episodic treatment. However, for VBC to truly realize its potential, it cannot operate in isolation; it must be blended with other innovative healthcare solutions.
Telemedicine and digital health solutions are playing an increasingly important role in disease management and can work in tandem with VBC to help elder care. Telemedicine enables elderly patients to access healthcare services without leaving their homes, reducing the need for travel and exposure to hospital environments. This is particularly beneficial for those with mobility issues or chronic conditions.
Wearable devices and remote monitoring tools also enable continuous tracking of vital signs and health metrics, providing real-time data to healthcare providers. This continuous monitoring can lead to early detection of health issues and timely interventions. Coupled with electronic health records (EHRs) that consolidate a patient’s medical history, treatments and medication; this enables healthcare providers to view the patient’s health holistically.
Comprehensive data enables more accurate tracking and management of health conditions. Additionally, advanced data analytics can pinpoint elderly patients at higher risk for specific conditions, enabling proactive interventions and personalized care plans. This approach ensures that interventions are effective and aligned with the patient’s health goals.
Digital health platforms also can offer educational materials and resources to the elderly, empowering them to take an active role in managing their health. This engagement is crucial for improving health outcomes and patient satisfaction.
Patient solutions hybrid platforms can provide continuous monitoring and follow-up care for patients. This makes it easier for patients whose chronic conditions to monitor and access their health data. Such telemedicine software solutions empower clients and partners in the biopharmaceuticals and medical device sector, ensuring affordability and high standards of care when managing senior healthcare challenges.
Collaboration with multi-disciplinary teams
VBC also must be supported by the collaboration of multi-disciplinary healthcare teams. The elderly often require a variety of healthcare services, including medical, psychological and social support.
Integrating VBC with coordinated care involving physicians, nurses, social workers and caregivers ensures that all aspects of an elder's health are addressed. This comprehensive approach not only enhances the quality of care but also supports the holistic well being of the elderly.
For example, the Homecare Project in Thailand is serving as an incubator for elderly care solutions. Through this service, healthcare professionals can conduct blood tests directly in patients’ homes, with samples processed in labs, and results and medications are delivered to them. This approach reduces the need for the elderly to visit hospitals or care facilities, enhancing convenience and accessibility.
The disparity in elder care accessibility is stark. While some countries are leveraging technology and policy reforms to address the needs of their aging populations, others struggle with basic healthcare provision.
VBC represents a significant advancement in improving elder care, but it cannot succeed in isolation. By integrating VBC with technological innovations, multi-disciplinary collaboration, preventive care, patient education and supportive policies, we can drive healthcare innovations that address the complex needs of the aging population.
Sharing best practices, such as cross-border collaborations and community-driven solutions, can pave the way for a more inclusive and supportive environment for its aging citizens.
Bijay Singh heads the healthcare business unit of DKSH, also known as DiethelmKellerSiberHegner, a Swiss holding company specializing in market expansion services.