CareScout is trying to make the process of finding quality long-term care – including home care – easier for U.S. seniors and their families. There’s undoubtedly a desperate need for that. But that’s partly because of how hard the problem is to solve. A part of Genworth Financial Inc. (NYSE: GNW), CareScout is currently building […]
Genworth Financial
The cost of home health care and home care increased more than it did in any other provider setting in 2021. That’s according to Genworth Financial Inc.’s (NYSE: GNW) annual cost of care survey, which showed that while the cost of all long-term care services increased in the last year, home-based care was especially impacted […]
Most in-home care operators and other aging services providers have tried to absorb costs related to the COVID-19 pandemic. But that hasn’t always been feasible, causing the cost of care to rise substantially for consumers. That’s according to the latest annual Cost of Care Survey from Richmond, Virginia-based Genworth Financial Inc. (NYSE: GNW), a Fortune […]
The cost of in-home care is rising faster than any other long-term care setting, according to recent data from insurance firm Genworth Financial. With that in mind, it shouldn’t be all too surprising that a sizeable portion of Medicare beneficiaries have a serious problem paying home care bills. In a national survey of more than […]
Home-based care is often lauded as an affordable — and preferable — alternative to skilled nursing care. But that characterization could be changing, as in-home care costs are skyrocketing to become more expensive than ever. That’s according to the latest annual Genworth Cost of Care Survey released Wednesday. The survey tracks the cost of various […]
Seniors are living longer than ever before — and that often comes with a higher price tag for which many people are unprepared. Home care remains among the least expensive and most preferred option for the older population. Still, a growing number of seniors are struggling to pay for it. While states such as Washington […]
Seniors who need nonmedical home care the most — the oldest, sickest and often most vulnerable — are the least likely to be able to afford it. Unfortunately, labor shortages are expected make home care services even less affordable in the years to come. That’s according to a new study published in the June issue […]
By 2029, nearly 8 million middle-income older Americans won’t be able to afford senior housing at today’s average market rates, new research shows. While the statistics have negative implications for the senior housing industry, they create opportunities for home-based care providers, whose services are often the least expensive option for seniors. The findings come from […]
Home-based care is often lauded for allowing seniors to age in place while saving the health care system thousands of dollars by decreasing hospital admissions. But with costs that don’t always come cheap to clients and nationwide caregiver shortages, home-based care isn’t without challenges. An increasingly popular way to address them is with adult day […]
Home-based services are increasingly getting more expensive thanks in part to ongoing labor woes, according to the latest Cost of Care Survey from insurer Genworth Financial (NYSE: GNW). The national median cost of home health aide services shot up 6.17% to $21.50 per hour, or $4,099 per month, from 2016 to 2017—the most pronounced increase among other care […]
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