KEY TAKEAWAY: The current economic cost of unpaid family care is about $67 billion and includes reduced work hours and foregone earnings for Americans 20 to 64 years old who take time off from their jobs to help a loved one manage serious medical issues. This is based on population demographics and wage data from 2013.Continue reading
Family members provide more than 95% of non-professional care for older adults who do not live in nursing homes.
‣ In total, family caregivers provide 37 billion hours of care annually.
‣ Caregivers looking after elderly family and friends log 3 times as many hours per year as professional caregivers.
‣ The estimated economic value of family and friend caregiving is roughly $500 billion per year—3 times greater than Medicaid’s expenditures on professional long-term care.
KEY TAKEAWAY:The massive generation of Boomers, 75 million strong today, is creating both an age wave and a caregiving crunch as it moves into its seventh decade. The estimated economic value of family and friend caregiving is roughly $500 billion per year—3 times greater than Medicaid’s expenditures on professional long-term care. Why do pharma ignore them? Continue reading
KEY TAKEAWAY: The U.S. is not prepared for the coming crisis in healthcare that could have a damaging effect of caregivers as well as patients. The crisis consists of two parts: first, there is the rising cost of new prescription drugs, especially those to treat cancer. Second, is the costs of extended care at a time when Congress is trying to gut Medicaid. Continue reading
According to a report from Pew Internet four in ten adults in the U.S. are caring for an adult or child with significant health issues, up from 30% in 2010. Caring for a loved one is an activity that cuts across most demographic groups, but is especially prevalent among adults ages 30 to 64, a group traditionally still in the workforce. When asked about the specific impact of the internet 59% of caregivers with internet access say that online resources have been helpful to their ability to provide care and support for the person in their care and 52% of caregivers with internet access say that online resources have been helpful to their ability to cope with the stress of being a caregiver. So why isn’t there more content on drug websites targeted at caregivers ? Continue reading
KEY TAKEAWAY: With an aging Baby Boomer population, the biggest threat to those that continue to try and build careers is being a caregiver. More than three quarters (78%) of caregivers are incurring out-of-pocket costs as a result of caregiving. AARP estimates that family caregivers, on average, are spending roughly $7,000 per year ($6,954) on out-of-pocket costs related to caregiving in 2016. Continue reading
POST SUMMARY: According to Pew Internet people living with chronic conditions are more likely than other adults to tap into every health information resource available to them, online and offline. When asked to think about the last time they had a serious health issue and to whom they turned for help: 81% of all adults living with one or more chronic conditions got information, care, or support from a doctor or other health care professional, 65% of all adults living with one or more chronic conditions got information or support from friends and family and27% of all adults living with one or more chronic conditions got information or support from others who have the same health condition. DTC marketers have to think about the entire brand experience and beyond the patient. Continue reading