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Understanding the Domestic Model of Medical Care
By Dr. David Edward Marcinko; MBA, CMP™
By Thomas A. Muldowney; MSFS, CLU, ChFC, CFP®, AIF®, CMP™
By Hope Rachel Hetico; RN, MHA, CPHQ™, CMP™
Doctors, nurses, economists, insurance consultants and financial advisors [FAs] increasingly make a distinction between “healthcare” and “custodial care.” Too often for patients however, health and custodial services are combined and confusingly referred to as health services. The problem with this is that people often focus only on health problems and not on the serious long-term physical and financial consequences associated with these different conditions.
US Model of Care
The US medical model tries to have patients “get well” soon. Typical medical services are often “medically necessary”; short term; acute; and may include hospital stays, major operations, some skilled care to recuperate and other ongoing skilled treatment, and medications.
Dementia and Impaired Cognition
In contrast, many elder health problems are incurable and chronic. These conditions require custodial care. Seniors who have chronic or disabling conditions need full-time live-in assistance, instead of the standard short visits by care providers.
For example, today in the United States, there are about 4 million people with Alzheimer’s or other dementia who are suffering from what is referred to as cognitive impairment. Cognitive impairment is one of the major risks of aging and a source of concern for many seniors. Other conditions that limit a senior’s ability to perform activities of daily living (ADLs) include accidents, blindness, cancer, diabetes, dialysis, emphysema, heart disease, osteoporosis, Parkinson’s disease, rheumatism, strokes, or a combination of these conditions.
Assessment
The gerontologists and hospitalists were perhaps the first medical professionals to appreciate this distinction; years ago. Nevertheless,people with these conditions may need many years of LTC services.
Conclusion
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Filed under: Health Economics, Health Insurance, Healthcare Finance, Insurance Matters, Risk Management | Tagged: long term care insurance, LTCI |
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In California, $1 Million in Unpaid Fines for Assisted Living Centers
A ProPublica review of records from the California Department of Social Services shows the state collected less than half of the more than $2 million in fines it issued against assisted living facilities from 2007 to 2012.
http://www.propublica.org/article/in-california-1-million-in-unpaid-fines-for-assisted-living-centers?utm_source=et&utm_medium=email&utm_campaign=dailynewsletter
Jenny
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