Seniors Helping Seniors

Monday, March 28, 2011

MetLife Report on Home Care Costs

Market Survey of LTC Costs
From MetLife

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The 2010 MetLife Market Survey of Nursing Home, Assisted Living Adult Day Services and Home Care Costs
When we are speaking with potential franchise partners (and new clients), one very common question is "How much do you charge those receiving your services?" Every year, insurance giant MetLife publishes findings about the costs associated with Long Term Care (LTC) for seniors. This is a survey done at the national level, but it also includes numbers at the state level. The services provided by Seniors Helping Seniors In-Home Services fall into the Home Care Category. Below are excerpts from the section about Home Care. You will also see in the report that for many of the services provided by Seniors Helping Seniors in Michigan have rates of $15/24/19 (high/low/average cost.

The desire for families and friends to remain at home, or “age in place,” has created a diverse and dynamic home care service industry and a variety of service providers.  Aging adults may choose to live on their own for many years. For people who develop chronic illnesses and other conditions, aging in place often demands outside services, which can allow them to live as independently as possible in their own homes. Most home care is non-medical care provided by paraprofessionals. 

Ongoing home care services, considered to be custodial or supportive care, are usually provided by individuals such as home health aides, homemakers, and companions. Home health aides are trained to provide hands-on care and assistance to people in their homes who need help with ADLs (bathing, dressing, transferring, eating, toileting, or continence). They are also able to help with needed tasks such as cooking, shopping, and laundry.

Homemakers or companions provide services that include light housekeeping, meal preparation, transportation, and companionship. This type of care is often appropriate for those with Alzheimer’s disease or other forms of dementia who may be physically healthy but require supervision. Homemakers and companions are not trained to provide hands-on assistance with ADLs such as bathing and dressing.

Back to the question of what we charge our receivers....each franchise partner will set their rate based on their local market. We do, however, provide guidelines and suggestions. One benefit of our business model is that we are using senior caregivers who are not only motivated by money - so in some cases we have a lower hourly rate than other home care agencies. Not that we ever want to compete on price - we compete on loving, caring, compassionate service along with all the benefits of having one senior help another senior. But our business model allows us to offer our services at a competitive rate.

You can read the full report by clicking here. E-mail us for any questions relating to in home care for yourself or a loved one.

1 comment:

  1. While choosing home care agencies you need to be practical. Your motive of selecting any care facility is good care of your elder’s health. You are searching services because you are not able to attend them well.