Caregiving: Create more sustainable care

Q. What are the long-term financial benefits of keeping caregivers healthy for patients and their families? 

A. Keeping caregivers healthy has substantial long-term financial benefits not only for the caregivers themselves but also for the individuals and families they care for. Healthy caregivers are able to provide consistent, high-quality care, which can reduce complications that often lead to expensive hospital visits. According to the National Alliance for Caregiving, more than 60% of caregiver injuries result in a need for medical care, which can interrupt patient services and lead to costly replacements or institutionalization for the patient. 

For families, avoiding these disruptions means saving on unexpected medical bills and maintaining a stable in-home care environment. It also delays or even prevents the need for more costly residential care facilities. The average cost of a nursing home is around $108,405 per year for a private room, while in-home care costs are significantly lower when caregivers remain healthy. 

From an insurance perspective, healthy caregivers mean fewer emergency room visits and hospital readmissions for the person receiving care, particularly for individuals with chronic conditions. A healthier caregiving environment can lead to an estimated reduction of up to 10% to 15% in hospital readmission rates. This can translate to significant savings for insurers, including Medicare and Medicaid. With the average hospital readmission costing around $15,000, reducing preventable readmissions could save Medicare and Medicaid billions annually. For instance, a modest 5% reduction in preventable readmissions could save the U.S. health care system more than $500 million a year. 

By improving the well-being of caregivers, families avoid the costly cycle of repeated medical issues and insurers benefit from reduced payouts. This creates a more sustainable care ecosystem, where manufacturers play a crucial role by providing ergonomic and injury-reducing medical equipment that supports both the caregivers and those they care for. 

David Carson is the CEO and co-founder of CareGlider. Reach him at david@careglider.net.