A significant change in population demographics will have an impact on healthcare services in fewer than 10 years. As both the general population of elderly and individuals with I/DD rise, the preference for home- and community-based care settings will likely increase as well. This means providers may need to consider boosting person-centered approaches to care and determine how to make their dollars go further to meet demand. This article explores how you can make sure you’re ready for these predicted changes—and how CapGrow can help support your efforts.
Boosting person-centered approaches to care.
By the mid-2020s, it’s anticipated that tens of thousands of Baby Boomers (those born between 1946 to 1964) will be ready to move into some form of long-term care—and many will be individuals with I/DD. Spending trends for this generation have tended to correlate to greater longevity, high expectations and a commitment to personalized experiences—all of which translates to a preference for a person-centered approach to their healthcare.
This generation is likely to need a service provider who offers wonderful, appropriate homes in great neighborhoods with all the conveniences they might require. They are likely to want to love where they’re living, and they may expect or need modifications and upgrades tailored to their health situation. CapGrow can help you offer uniquely tailored homes that are set up to meet individual residents’ preferences and healthcare needs by assisting with real estate search and acquisition, as well as modifications and upgrades.
Making your dollar go further to meet demand.
Because this anticipated shift is less than a decade away, government spending on home- and community-based living has already increased. However, with or without additional funding, providers who use their own money to buy real estate are essentially trapping their funds, making operational expenses more critical.
One way to prepare for rising demand is to work with CapGrow to purchase the property for you. This enables you to use your operational cash for staffing and ensure you can minimize the risk of turnover. Because we use our money for the real estate, you can use your money to offer transportation, training, or other benefits that will keep people with you longer. Stretching your money out over time ultimately enables you to help more people by getting them into community-based living—and expand your program more quickly.
To talk more about how CapGrow can help you prepare for shifting demographics or to learn more about our customizable lease solutions, contact Alexis Budge or visit our website.