Solutions Allowing Aging Seniors to Remain in Their
Homes Reported in Hawaii Project
Aging-in-place care reduces costly emergency and
residential care – major contributors to soaring Medicare and Medicaid
Nov. 12, 2013 - A report revealing the economic, social and human
considerations of "aging in place" - eldercare that allows seniors to
remain at home - has been issued by the Nonprofit Finance Fund. Based on
work with a network of eldercare-related service providers in
Hawaii, NFF's report identifies universal barriers to
aging-in-place as well as solutions that promise to deliver cost savings
while improving the lives of seniors.
The company says supported aging-in-place care
reduces costly emergency and residential care – major contributors to
soaring Medicare and Medicaid spending.
"Americans want to age in
their homes, and providing seniors with the health, safety and community
resources to make that happen could ultimately reduce healthcare costs
by the order of billions of dollars," said
vice president of Nonprofit Finance Fund. "The aging Baby Boomer
States is forcing the issue: we must invest in
better approaches to long-term care."
As the state with the
highest life expectancy and second-highest cost of living,
serves as an early example of trends developing across the United
The Hawaii Community Foundation engaged NFF to provide systems-level
analysis and in-depth strategic financial consulting to nine
organizations that offer aging-in-place programs such as home
companionship, transportation, and in-home cleaning services. These
services can preserve quality-of-life for seniors as they age, and cost
far less than emergency services or extended nursing home care. The
cohort identified four core challenges:
1. Current funding
structures leave large portions of the senior population
2. An information gap means that seniors and their
families are often uninformed about available services.
3. Respite for caregivers is difficult to find, leading
many to seek premature residential or institutional options for their
family members when stress becomes unbearable.
4. Isolation of seniors from their communities makes it
difficult to access services.
The report details the
implications of these challenges and explores solutions for improving
aging-in-place programs, and paying for these programs. In some cases,
pilot programs are already making strides on the issues such as
preventative care, more robust transportation and respite compensation.
"Given the substantial size
of our aging population and a limited number of nursing home beds,
seniors will age in place with most of their care being provided by
friends and family," said Pi'ikea Miller, Director of Programs at the
Hawaii Community Foundation. "The amount of care that will be required
has significant implications for our local community – families,
government, businesses and nonprofits. We asked NFF to help us examine
this complex issue as part of our efforts to determine how the
Foundation can best support seniors to successfully age in place."
About Nonprofit Finance
Nonprofit Finance Fund (NFF)
reports it unlocks the potential of mission-driven organizations through
tailored investments, strategic advice and transformative ideas. Founded
in 1980, NFF says it helps organizations connect money to mission effectively,
and supports innovations such as growth capital campaigns, cross-sector
economic recovery initiatives and impact investing. A leading community
development financial institution with over
$80 million in assets, NFF
has provided over $250 million in loans and access to additional financing
via grants, tax credits and capital in support of over
in projects for thousands of organizations nationwide. NFF is
New York City
and serves clients from offices across the country.
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