Baby Boomers Health Care: Preparing for the Silver Tsunami
Novelists and columnists may joke about the threat of the "Silver Tsunami," as the first baby boomers will turn 65 years old in 2011, but it's a very real phenomenon that has baby boomer health care providers and senior caregivers preparing for the wave of 90 million baby boomers who may require senior health care services over the next 16 years. Just consider the impact and consequences that doubling today's senior population will have on our society.
According to The Economist, one in every five Americans will be more than 65 years of age, and the 85-plus group will expand to 15 million over the next 40 years. Nearly one in three American workers will be more than 50 by 2012. To handle this huge demographic shift, corporations recognize the need to capture and capitalize on the knowledge, experience and wisdom of older workers before they retire. Read about the new multi-generational workforce and how baby boomers are redefining retirement.
Senior health care providers, like Avamere Family of Companies, are busy considering the impact of the aging baby boomers on health care, and are taking unprecedented action to prepare for the wave of 90 million Americans who may need varying degrees of health care and caregiver support over the next 40 years. Other senior health care providers are growing their senior care infrastructure to accommodate the baby boomers health care needs, and seeking new technology efficiencies and expertise to accommodate the growth.
A study by McQuade, Sjoer, Fabian, Nascimento and Schroeder listed the top three knowledge losses as:
- Loss of an expert employee with knowledge of the products and processes of the company (including explicit knowledge that could be left to misinterpretation)
- Loss of customer and supplier contacts (relationships and established trust)
- And loss of understanding of the informal personnel networks (who to go to and get things done)
This age wave, or geriatric imperative as it's also called, will not only affect senior health care providers and senior caregivers, but also the family and friends of baby boomers, who will undoubtedly also have to shoulder some of the senior caregiver responsibilities for their loved ones. According to Robert Brooks, CEO ElderCarelink, "one in four families across the U.S. is now dealing with family caregiver issues." As people live longer and the reality of the Silver Tsunami really hits home, this will increase and become a growing issue. Read advice for children with aging parents.
Let Avamere Family of Companies help you and your family. We can provide home care services or respite care services to off-load your support as a senior caregiver. We also offer you these helpful senior health care resources.