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Rising Labor Costs
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As labor costs rise
Senior living companies are coping with minimum wage increases and overtime requirements in 4 ways: SHN
- Reduce other expenses (says Juniper Communities)
- Reduce staff turnover with perks: English as a second language and dinner meal service (Juniper)
- Replace higher earners with younger workers (Evangelical Homes of Michigan)
- Keep overtime to a minimum (Era Living communities)
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10 years of stagnant pay
The median home care wage was $10.11 an hour in 2015, unchanged from $10.21 an hour in 2005. Annual turnover was 40% to 60%. Now, many health care aids have healthcare and will be getting overtime. NYT[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Family and paid caregivers want a raise
Family and paid caregivers who are paid to care for their own family members or for others in the community want a raise from California taxpayers. Some are members of the Service Employees International Union, and want more than the minimum wage. “We are state employees and want to be treated as such.” (DR)
Can pension and medical benefits be the next ask?
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Communications
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Cómo comunicarse en español
Deliver information in simple, 3rd grade Spanish in the style of graphic novels or comic books. That’s how to reach California Latino’s to talk about Dementia. Spread the word through teachers, doctors and Spanish-language media.
There are ~ 379,000 Latinos with Alzheimer’s in 2012. This will increase +800% by 2030, absent a breakthrough drug. Cal. Health Report.[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
How to explain complex topics
When you forget your words: a video about Explaining Aphasia. link[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Are you messaging clients?
Messaging provides a continuous thread between customer and company, unlike the disjointed experience of email. 6 of 10 top lobal apps are messaging apps, used by 1.4 billion people worldwide and growing by 12% annually. HBR
Forward-thinking businesses are turning to chat messages, which are threaded conversations. Chat bots allow companies to answer contextual questions and requests, as illustrated below. Intercom.
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Healthcare
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Bipartisan changes recommended for PACE, LTSS
Bipartisan Policy Center offers these recommendations for dual-eligibles:
- Extend PACE to everyone who meets criteria but do not require a nursing home level of care
- Allow people to enroll in PACE but opt out of adult day care
- Offer an option that includes both Medicare-covered services and a “buy-in” of services
- Provide a benefit that is lesl than “full Medicaid” for people who aren’t eligible today because they earn too much MSL, BPP
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The levers to reduce spending on high-cost patients
The least heathy employees quickly blow through their deductible, and their health issues are so acute and their bills so large, they don’t shop around for care. So what is a large employer or any purchaser concerned about these high cost claimants to do? The front-line interventions that work are proper diagnosis (!), second opinions and patient-centered care (ie. asking patients about their preferences). HC Blog[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
All-you-can-eat healthcare
Insurers are raising prices and limiting choices for the same reasons a restaurant owner might replace lobster with potato salad on an all-you-can-eat menu. You can be in deep trouble if your buffet suddenly becomes the favorite hangout of the high school football team. NYT
“Who you serve influences how much it costs to serve them,” said David Cutler, Harvard economist who studied adverse selection in health insurance.
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Advocating for “exercise prescriptions”
“By prescribing the proper exercise, frailty may actually be slowed or reversed, which can keep people out of hospitals and in their homes longer.” link
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Men, the frail sex
As men age, they get more frail than women. Males do not recover as well as females because testosterone suppresses immune function. Meanwhile, women’s lifespans are shortened by 18 months for every child they have. A new book approaches men’s aging through the eyes of evolutionary biology and natural selection. Take a deep dive into How Men Age. NPR
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9/27 conference on readmissions
Focus on Bundled Payments & Readmissions (link) will be held at South San Francisco Conference Center on Tuesday, September 27, 2016. Read the associated whitepaper, “Why Hospitals and Payers are Recommending Home Care Upon Discharge Instead of SNF or Traditional Home Health Services.” PDF
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Holocaust Elders
20% of Holocaust survivors live in the United States. 2 weeks ago, Congress passed a resolution calling on Germany commit more money to “address the unique health and welfare needs of vulnerable Holocaust victims.” link[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Changes coming to medical research
Federal health officials will soon be requiring scientists and companies to make public more details of a broader range of medical research studies, even if the results are disappointing to the researchers or to companies sponsoring the research. WSJ[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
The 50+ Market
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Economic impact of 50+
- The 111 million 50+ people generate $7.6 trillion in economic activity. This is 1/2 Trillion higher since 2013 because of longer life spans. $7.6 includes $5.0 TR in consumer spending and $1.8 trillion taxes. AARP
- The median household wealth among older adults is more than 1,000% greater for those who avoid staying in nursing homes than for those who stay in nursing homes for more than 180 days.
- “Internet of Things” technologies ultimately are expected to bring more than $300 billion in annual healthcare system savings and elders greater independence and mobility.
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50+ athletes spend time, money
200,000 older athletes compete in these organized games at the local, state and national levels. To compete at this level, one woman trains 5-6 days a week for 1-3+ hours. Compare this to the typical adult over age 65 averaged 25 minutes of exercise a day. Those 75 and older reported only 12 minutes. NYT[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Trending: “Wellness communities”
The newest attraction in Orland is a planned wellness community, Lake Nona (nonna is Italian for grandma) NYT
- 27% of the residents work from home
- 650 acre Medical City with 6 hospitals and medical centers
- 11,000 residents who participate in health studies
When I was in Darien, Connecticut, a friend gave us the luxurious information package for The Cliffs at Koewee Springs, a planned wellness community. Family wellness is a generational gift, and doctors from Johns Hopkins, Duke and Mayo serve on the advisory board. Cliffs[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Seniors without housing
For some seniors without housing, a parking lot is home. Many of those living in their cars have fallen upon hard times for the first time in their lives. NPR[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Economic supercycle ending
Some investors and traders are gearing up for the end of a long bull market and economic “rising tide.” The average U.S. household has saved $2,500 for retirement. Baby boomers all over the globe are on the verge of transitioning out of their highest wage earning years and into retirement. That transition brings 2 negative consequences:
- Detrimental impact on average incomes and GDP
- Exposing the liabilities of pension plans, social security, medicare and medicaid. ZeroHedge
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Means-testing for baby boomers
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Libertarian in favor of means-testing
Gary Johnson would like to see Social Security begin “means testing that’s very fair.” Translation: The amount people receive in Social Security retirement benefits would be based on their financial well-being at the time they apply. Today, the benefit is based on previous earnings. Johnson has endorsed privatizing Social Security. This arrangement would let Americans self-direct their Social Security through personal accounts, allowing them to buy stocks, for instance. Next Ave. in Forbes.[/vc_column_text][us_separator size=”small” thick=”2″][vc_column_text]
Means testing IRAs
Claiming that the tax code needs “a dose of fairness” when it comes to its treatment of retirement savings, Sen. Ron Wyden, D-Oregon, issued a discussion draft of legislation that would cap contributions to so-called “mega” IRAs. link
“Tax incentives for retirement savings are designed to help people build a nest egg, not a golden egg.”
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