Article

How Will the Silver Tsunami Affect Non-Acute Care?

October 10, 2024
elderly woman talking to female doctor

The healthcare system is struggling to keep pace with America’s aging population. For example, the number of Americans 100 years of age or older is projected to more than quadruple over the next three decades, increasing from an estimated 101,000 people in 2024 to approximately 422,000 in 2054.

The U.S. is clearly experiencing an aging population trend. According to the Pew Research Center, over the next few decades, life expectancies are projected to increase while birth rates decline. Currently, about 62 million adults 65 years of age or older live in the U.S., making up 18% of the population. By 2054, this number is expected to jump to 84 million adults aged 65 and older, making up an estimated 23% of the population.

Body 1 content The U.S. population aged 65 and over grew nearly five times faster than the total population over the 100 years from 1920 to 2020, according to the U.S. Census Bureau. By 2030, all baby boomers will be aged 65 and over.

The aging population is increasing the demand for medical services, including non-acute healthcare. In fact, compared to other demographic groups, seniors experience more chronic conditions such as diabetes, hypertension and arthritis than other age groups.

CREATING A STRAIN ON THE HEALTHCARE WORKFORCE

An aging healthcare workforce coupled with healthcare worker retirements are straining the ability of non-acute facilities to serve seniors and meet their changing needs. For instance, potential consequences of a healthcare workforce shortage include longer wait times for patients to receive services, increased workloads on staff and burnout for current employees.

As noted in the paper “Healthcare on the brink: navigating the challenges of an aging society in the United States,” the current healthcare system is not prepared to meet the demands of an aging population. Change is needed.

“There is a growing shortage of healthcare providers, which means that the supply and availability of qualified and skilled healthcare professionals, such as physicians, nurses, pharmacists, clinical social workers and technicians, is insufficient and inadequate to meet the demand and need of the population,” according to the paper.

This shortage is complicating existing challenges at non-acute facilities, potentially making it more difficult to provide timely and effective care to the aging population. Organizations serving this demographic must modernize their strategic plan to ensure they have the resources, including staffing and skill sets, to meet the specific needs of seniors. The plan should identify gaps between what the facilities currently offer and what will be needed in the future.

A GROWING NEED FOR LONG-TERM CARE FACILITIES

The aging population creates an increasing need for long-term care, nursing homes, assisted living, home healthcare and related services. “The evolving landscape will be led by an aging population, increased incidence of chronic disease and a higher demand for mental health services—all of which will cause inpatient and outpatient volumes to rise,” according to the American Hospital Association (AHA). The AHA insights are based on the Sg2 2024 Impact of Change report.

This aging population will also require proper resident care. That’s why over the next 10 years, the number of residents in long-term care facilities is expected to grow significantly. “If trends hold up, the number of nursing home residents could increase by over 75% to 2.3 million residents by 2030,” according to Consumer Affairs. “This has the potential to not only put a strain on the existing network of long-term care facilities but also contribute to the ballooning cost of health care for individuals ages 65 and over.”

These facilities will also need to provide support services to residents who may have disabilities or limitations and therefore require help with their daily routines. As a result, facilities must ensure they are properly staffed and have the resources necessary to meet the rising demand, provide quality care and meet the unique needs of the senior population, which can sometimes be complex.

“As the population ages, the need for long-term care becomes increasingly prevalent,” according to Helga Rivera Insurance. “The older individuals become, the more likely they are to require assistance with daily activities or specialized medical care.” .

“The combination of buying power and industry insights ensures members are prepared to meet the needs of patients, including seniors, now and into the future.”

A GPO’S ROLE IN HELPING NON-ACUTE FACILITIES SERVE SENIORS

A group purchasing organization (GPO) can provide significant benefits to non-acute healthcare organizations, helping them gear up to serve an aging population. These benefits include cost savings through bulk purchasing, access to a wide range of products and services, and streamlined, data-driven procurement processes.

For example, a GPO like Provista has a diverse product portfolio, allowing members to leverage pre-screened suppliers and industry-leading contracts. Members can take advantage of the power of group purchasing to get favorable pricing and use products that meet their compliance requirements.

In addition, as a modern GPO, Provista has the expertise and data capabilities to predict healthcare trends to help members prepare for whatever is next. That’s why partnering with a GPO like Provista enables non-acute healthcare facilities to achieve substantial cost savings and solve future challenges. The combination of buying power and industry insights ensures members are prepared to meet the needs of patients, including seniors, now and into the future.

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