Long Term Care Growth

I recently attended a seminar about the economic future. I quickly realized I was the youngest person in the room by almost 15 years, I did not mind because I tagged along with my parents, and it was a free invitation from a friend of my family. In this seminar the speaker was covering the topics of why our economy was shrinking so quickly and his theory was the baby boomer generation have passed their greatest spending years and therefore a largest spenders the economy are starting to save instead of spend and/or invest. He made a point that LTC is going to grow and expand at insane rates as the baby boomers age.
This got me thinking about what will happen when the demand for LTC grows faster than the supply can meet it. The speaker stated that it will be easy to make money in the LTC industry and having gone through this course, I realized the only way to make the kind of money he is talking about is only if MCO growth in LTC expands rapidly or if the government reforms the payment systems for LTC. I am still wondering the vast possibilities that may occur from the huge growth in LTC that this country is destined to experience. I am hoping that the rapid expansion will force the government and/or insurance companies to change the way they see and fund LTC.

Cost of Long Term Care

The cost of long term care is a burden family and friends are having to bear more and more of. As costs of all health care increases, long term care is right at the forefront of the increases. Because insurance companies usually have a cap amount of money, set amount of time the policy is willing to pay or other limitations that are usually buried in the fine print and legal jargon that the average person can not understand. With the new administration in Washington, America has been promised a change in the way our health care is delivered. This change will hopefully filter to the long term health care division and bring relief to the people responsible for the outrageous medical bills that can easily pile up.
The costs associated with care 24 hours a day can be devastating to families and patients. I believe that something has to change otherwise the problem will become worse. I am unsure if socialized medicine is the answer, but some form of universal medical insurance that will bring relief to those suffering from huge medical bills will definitely help America and its economy.

What does LTC mean to me?

Long term care means taking care of a patient for an extended period of time, usually for periods longer than 1 month. It allows the health care worker to form a very personal and close relationship with the patient. It is always a personal and important part of the health care field. Long term health care usually takes place in a assisted living community, nursing homes, or in the patients home itself. It usually also means an expensive hardship on the patient and the family of the patient. Most times long term care is the last stage of life for many patients which proposes a unique challenge for those health care providers that choose to take on the challenge of dealing with patients that are dying day in and day out.