CareTrek Support Group

  • 440 Monticello Avenue, Suite 100
  • Norfolk, VA
  • 23510
  • (757) 985-3624

Long Term Care Crisis: A Big Innovation Opportunity?

Posted by Chip Block on November 6, 2019 5:00 PM EST
Chip Block photo

Recent blog postings by our team and much research suggest that the issues that have emerged due to the aging population and the impact of poor financial preparation for retirement.....

...are RIPE for innovative solutions. 

Being ripe for innovative solutions does not necessarily mean that those solutions are obvious, easy or evidence-based from the outset.  And this is one of the innovator's dilemmas or the inventor's paradox or change agent's conundrum.  The classic attributes of an "overshot market" and one that is growing in leaps and bounds combined with the inability of people to access reliable resources and the majority having to seek help and assistance from friends and family exist in abundance in the long term care world.

Interestingly, blog posts by both Joe and Thomas show alarming statistics.  More than 90% of people who will need long term care do not have long term care insurance.  Many long term care insurance carriers are leaving the market or are reducing their benefits load per premium dollar.  Medicare doesn't cover the full array of support services, nor does Medicaid.  AARP has sponsored and helped enact legislation in many states for training, certifying, supporting and in some cases, remunerating individuals for providing the services that long term care conditions require.

One thought that emerges is what if the healthy, but unemployed segment of the elderly and caring population is trained and provides support to a small group of their peers much like care managers in the health care world do?  What if these folks could earn a supplementary income of say $20 per hour to work with three to four "cases" at a time?  Could these people be able to provide the kind of care most elderly need....and would the income generated by the collective revenue of $80 for serving four clients actually more than covers the expenses of basic care that can be provided for many elderly in their homes?  And could these workers be taught to capture great life lessons from the elderly they serve and transfer what they have learned to others trained in translating such captured knowledge into action?

What if "good enough" is better than nothing at all? 

What if...?

There are no comments

Sign in to add your comment.


  • Try CareTrek for $99
    Sign up and Enroll First Employee
    The first step in recovery journey
    CareTrek Support Group - (Norfolk VA 23510)

Recent Posts

Veteran's Day 2019: Time For Meaningful Thanks-and Action- For Our Veterans
We are blessed to live in the United States, the home of the brave and the land of the free. And...
read more
Long Term Care Crisis: A Big Innovation Opportunity?
Recent blog postings by our team and much research suggest that the issues that have emerged due to...
read more
Lessons from Experience: Ageless Wisdom
The recent series of blog postings by our team made me think about the value of capturing...
read more
AARP is Helping Caregivers in Virginia and Across the Country
According to printed material and a press release by the AARP, there are over 1.7 million caregivers...
read more
Looming Retirement Crisis-Can Social Security Become More Secure?
Thomas' recent blog on the impact of the aging population and its negative impact on the long term...
read more
Long Term Care: Next Healthcare Crisis?
The growing baby boomer demographic group, its poor preparation for retirement and the continuing...
read more
Engaging Employers: Solving the Opioid Crisis in Virginia
Recently, I had the opportunity to attend two terrific programs on the same day at the same...
read more
Enhancing Competition Can Offer a Better Solution Than Only "Medicare for All"
Building on the previous blogs from colleagues, the political polarization around the healthcare and...
read more
Are VA Problems A View into the Chaos that Would be "Medicare for All"
In our blog posts, we (Joe, Chip and I) try to stay away from the heavy politicized angles that are...
read more
The Imbalance Between U.S. Healthcare Costs and Outcomes
Two recent opinion pieces featured in The Virginian-Pilot put a spotlight on the Medicare for All...
read more

Go to blog