Stress Takes Its Toll
Did you know that extreme stress can take as much as 10 years off the life of a family caregiver? Talk with family and friends who care for older loved ones -- especially those in the global "sandwich generation" caring for both children and senior family members -- and they'll tell you they find it difficult, if not impossible, to find a trusted source of home care for their parents and relatives. It won't take many conversations to confirm the need in your country for Home Instead Senior Care® services and help you understand the tremendous business opportunities for those who become Master Franchisees.
More Facts
Approximately 80% of seniors have at least one chronic health condition and half have at least two. In the U.K., The Department of Health estimates that up to three-quarters of those over the age of 75 could be living with a chronic disease. By 2030, they estimate that chronic disease in those over 65 will more than double. And the Australian Institute of Health and Welfare reported that 77 percent of those in the country with 4 to5 disabilities were aged 65 years or more. Although many countries have some type of subsidized health programs, there is a huge disparity between the number of service hours available and the growing need of our aging population.
A Growing Demand
"We've certainly seen the needs of seniors drive the demand for our services, which in turn creates more caregiving jobs," said Paul Hogan, the founder of the Home Instead Senior Care network. Research in many cultural settings shows that 90% of older people, even those living alone, prefer to be in their own homes and communities. This surge in seniors aging at home will help fuel the demand for these new caregiving positions as well.
Who needs home care?
- At present, just under 11% of the world's 6.9 billion people are over 60.
- The global population age 60 and older is expected to double in size by 2050
- By 2030, the world is likely to have over 1 billion older people, accounting for 13% of the total population.
- On a global level, the 85+ population is projected to increase 151% between 2005 and 2030.
- In some European countries, more than 40% of women age 65 and older live alone.
- In East Asia, life expectancy has increased from less than 45 years in 1950 to more than 72 years today. Life expectancy in several other more developed countries is at least 79 years on average.
Source(s):
1. National Institute on Aging
"Why Population Aging Matters " – A Global Perspective (2007)
Online at http://green.tmcnet.com/news/2010/01/06/4559502.htm.
Online at http://www.aihw.gov.au/publications/dis/dis-55-10788/dis-55-10788.pdf.
Who provides home care?
- An estimated 80% of care is provided by family members or friends.
- Approximately 60% of family caregivers are women.
- The typical family caregiver is a 46-year-old woman caring for her widowed mother who does not live with her. She is married and employed.
- In most developed countries, only 3-6% of seniors over age 65 live in institutions.
Source(s):
1. Harris Interactive Study for Home Instead Senior Care (2003)
2-3. National Alliance for Caregiving and AARP: Caregiving in the U.S. (2004)
4.The Economist- "A Special Report on Ageing Populations" (2009)
Who needs help?
- Approximately 63% of family caregivers have no plan as to how they will pay for their parent's care over the next five years.
- Nearly 7 in 10 family caregivers spend less time with family and friends since becoming caregivers.
- 9 out of 10 family caregivers (91%) surveyed -- all in fair/poor health -- suffer from depression, and 8 in 10 (81%) of those with depression report that caregiving has made their depression worse.
- Approximately 62% of family caregivers who work have had to make some adjustments to their work life, from reporting late to work to giving up work entirely.
- 53% of caregivers say they provide more than 40 hours of care per week to a loved one.
- A wife's hospitalization increased her husband's chances of dying within a month by 35%. A husband's hospitalization boosted his wife's mortality risk by 44%.
- Extreme stress can take as much as 10 years off a family caregiver's life.
- Family caregivers report having a chronic condition at more than twice the rate of non-caregivers.
Source(s):
1,5. Agingcare.com
2-3. Evercare: Evercare Study of Caregivers in Decline: A Close-up Look at the Health Risks of Caring for a Loved One (www.evercarehealthplans.com, 2006)
4- 8. National Alliance for Caregiving and AARP: Caregiving in the U.S. (2004)
6. New England Journal of Medicine (2006)
7. Peter S. Arno: Economic Value of Informal Caregiving (2006)
How Home Instead is meeting the demand for non-family care:
