The population boom in the 1950s means that our population today is made up of more people in their 60s than ever before. As these baby boomers age, home health care and other medical services for the elderly will be in high demand. This means our government needs to be prepared for having a large elderly population but it also means small businesses in this niche are sure to thrive.
It has been said that by 2025 the United States will have an estimated 72 million people over the age of 65. That’s more people than live in the entirety of France! As these elderly people fall ill or simply experience the symptoms of age, hospitals and health care providers will have to expand to meet this increased need.
The biggest downside and worry for this change in population demographics is that carrying for the elderly is expensive. With more older people than ever before, individuals as well as companies and local governments will be required to put up large sums of money. This is particularly troubling since the federal government as well as most local and regional governments are already running on a deficit.
The upside is that this newly expanded demographic opens up a plethora of job employment opportunities within the medical field. Registered nurses, doctor’s assistances and nurse practitioners are in higher demand than ever before.
A trend to watch in modern health care is choosing in home care rather than sending the patient to a hospital or assisted living facility. Home health care has a plethora of emotional and physical health benefits and is usually the top choice among family members of the elderly.
Because in home care requires more staff, this trend will create even more jobs in the health care field. Having a respectable field of employment with a demand for workers equal to American unemployment rates is essential to revitalizing the economy.
Enough jobs, it is well and widely known, means a healthy, sustainable and resilient economy. With more people unemployed than ever before, medical work is becoming one of the chief fields of study in colleges. As baby boomers age, the medical field is promised an ever-rising demand for all sorts of care.
An estimated two-thirds of senior citizens require at least one caregiver to help them with their day to day activities. With the expected 72 million elderly citizens by 2025, the United States has a situation that is both worrisome and exciting. Home health care and other elderly care options will grow in popularity as demand increases. If handled correctly, this transition in population demographics can be an economic boost rather than a social services nightmare.