Podcast: Global Conversations on Elder Care

Nearly 9 percent of the world’s population is aged 65 and older, and that number is expected to reach almost 17 percent—or 1.6 billion people—by 2050. No matter the cultural, political and societal system, every country is grappling with how to care for an ever-growing, longer-living aging population.

The common answer in many parts of the world? It all boils down to preserving senior independence to preserve quality of life while containing spending.

In the U.S. and across Europe, healthcare organizations—whether public or private—are doing this by leaning more heavily on the home health model, and in the former, they’re looking to technologies that support that model. According to our Candid Conversations on Elder Care study, 63 percent of U.S. healthcare organizations see home health as the greater opportunity for tech disruptors to improve elder care. Home health was also the area they plan to invest most in by 2020 to prepare for the growth of the aging population.

In Europe, meanwhile, our New Perspectives on Elderly Care, an analysis of nine countries including Belgium, Denmark, Germany and the U.K., found that healthcare organizations are also placing greater importance on preserving senior independence—but with less emphasis on technology.

And in China, through its five-year economic plan known as “Healthy China,” the government has encouraged both inbound and outbound private investment to improve its healthcare sector, with priority placed on the senior care market. This has included a push to improve end-of-life care for the elderly, as the younger generation—many without siblings—are unable to provide enough support.

Despite their common goals—and even opportunities—for improving senior quality of life, each elder care market has its own unique regulatory and business intricacies.

In the latest episode of BDO’s Health & Life Sciences Rx Podcast, our global leaders from The BDO Center for Healthcare Excellence & Innovation sit down to discuss these trends and more.

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