As more and more American’s reach their golden years, the number of seniors isn’t the only thing on the rise. The cost of elder care has also shown to be on the rise per a recent survey conducted by Genworth. While adult living facilities and other residential services show noticeable increases, the good news is that in-home care across the country displays a lesser increase in the cost of services for clients.
The Genworth survey also helps show that the cost of elder care varies by region based on local economic conditions, which is an expected outcome as the data has shown time and time again.
One of the most interesting parts of looking at elder care costs is evaluating the cost savings between care types. While skilled nursing homes can cost upwards of $70,000 per year, and Adult Living Facilities range in the $40,000 neighborhood, in-home care based around an individual’s specific needs can cost far less in the $15,000 range for partial day care.
While seniors should always select care that meets their personal needs, reduced cost is just one benefit of in-home care for seniors capable of remaining in their own homes. The best home care agencies, managed by a home care software or home care system like ClearCare, can create care plans and schedules tailored to a client’s individual needs.
For example, with ClearCare Online home care software and home care system, agency administrators can work with families to outline care tasks, which are then tracked and recorded by caregivers in the home care software. Aside from tracking care needs and completed tasks, a home care system like ClearCare Online can be used to accurately track billing hours – as well as bill to third party payers such as Veterans Affairs or a long term care insurance company, which can help make care costs manageable for families. And, with a home care system like ClearCare Online being used by a top notch home care agency, billing can be consistently sent to the correct parties to eliminate financial worry.
Home care managed by a private duty agency utilizing a home care software or home care system, like ClearCare, is a great way to help keep the cost of elder care down.