A recent article from The New York Times, discusses a study published in The New England Journal of Medicine that estimates the costs of dementia care are at least on par or more costly that heart disease or cancer. The cost nationally was estimated to be $109 billion in 2010 (compared to $102 billion for heart disease and $77 billion for cancer). That number is expected to double by 2040.
The researchers also found that nearly 15 percent of people aged 71 or older (about 3.8 million) have dementia. This portends a large strain on the long-term care system in the future. Dr. Richard J. Hodes of the National Institute on Aging was quoted in the article, saying “I don’t know of any other disease predicting such a huge increase,” he said. “And as we have the baby boomer group maturing, there are going to be more older people with fewer children to be informal caregivers for them, which is going to intensify the problem even more.”
Nursing homes play a large role in the care of those with dementia, the study found that SNF care equaled 75 to 84 of the total costs. the study also found that each case of dementia costs $41,000 to $56,000 per year.
The study utilized data spanning more than a decade and includes approximately 11,000 individuals. Read the entire article by clicking here. A link to the study can be found here.
