Home Care

The aging population has significant implications.  Consider a few assumptions:   Average life expectancy at 65 is mid-80’s, though many will live into their 90s. Older adults want to remain in their home as long as possible.  A quarter of men aged 75+ and 43% of women live alone.   Reports indicate that 46% of those aged 75+ have a disability.  It’s not much of a stretch to imagine that as many as half will need some kind of care assistance in their home at some point.  It is also likely that most people will not be able to afford 24x7 home care. But even if they could afford it, there is a severe home care worker shortage that is likely to worsen over the coming years as baby boomers enter their 80s.

The AI infrastructure juggernaut is on – consumers hesitate and deployment is cautious.   Parallel tracks are emerging. Investment by the big players in infrastructure (see Nvidia) is overwrought.  Even Oracle is jumping in with billions – as well as redirecting the company to be all-in on AI.  Today, 78% of companies say they are using AI in at least one business function. Meanwhile, back over in the real people corner, surveyed consumers continue to be surveyed and are cautious and concerned. Why the disconnect?  Mostly gloomy news coverage about AI.

The more things change…Argentum published a new survey of senior living executives last month, querying execs about tech adoption, including thoughts about AI in senior living. The report (also sponsored by A Place for Mom) compared two sets of responses about tech from 2023 and 2024 – enabling a possible comparison. On the upbeat side, as of 2024, 76% of responders are optimistic about the role AI can play in their organizations. That question was probably not asked in 2023, so there was nothing to compare, but a number of them today are apparently experimenting with AI. They say that the uses are for staffing efficiency, care planning and improved resident interaction. Perhaps a number of them read a most 2024 report from this website, The Future of AI in Senior Living and Care and saw possibilities for improved documentation, staff education, and even the potential for predictive analytics.

Future staffing demand will force industry to rethink care strategies. According to BLS, the industry will need 4.5 million care workers by 2029 to meet the demands of older adults. According to an Argentum staffing report, in 2025 alone another 347,000 caregivers are needed for memory care. The home care and senior living industries draw from the same population of prospective workers. Home care and home health care demand will drive 21% job growth by 2033, but 59% of agencies will experience shortages. What else will help address care needs?

Future staffing demand will force industry to rethink care strategies. According to BLS, the industry will need 4.5 million care workers by 2029 to meet the demands of older adults. According to an Argentum staffing report, in 2025 alone another 347,000 caregivers are needed for memory care. The home care and senior living industries draw from the same population of prospective workers. Home care and home health care demand will drive 21% job growth by 2033, but 59% of agencies will experience shortages. What else will help address care needs?