The pandemic has seen a growing dependence for the senior care industry.
An elderly couple living independently were active and social in the pre-covid era. Their children live abroad and the lockdown brought an unforeseen emergency that left one of them bedridden. Managing without house help and worrying about medical emergencies made them rethink independent living, prioritising safety, wellbeing and companionship.
Unfortunately this situation is common among the elderly. The breakdown of the joint family has left this generation of seniors exposed and vulnerable.
Senior care services in India are still at a nascent stage and the demand for such services is increasing rapidly. While senior facilities exist in India, there are no quality benchmarks.
Financial Constraints
In India, a major challenge for the wider acceptance of home-based care is not just social, but also financial. Senior care is not covered by health insurance or public spending, unlike many western countries. There are a number of reasons for this.
- Lack of professional care companies who provide consistent services
- Skepticism among doctors about the efficacy of healthcare at home
- Difficulty in monitoring nursing care quality at multiple home locations
- The perception that only limited health conditions can be managed at home
Yet, COVID-19 has shown that many chronic health conditions can be managed effectively away from hospitals. That this can be done without exposing vulnerable elders to pandemic risks at clinics is an added benefit. In addition, with online consultations, tele-medicine and home care companies ramping up efforts, home based care may be the more lucrative option to explore for chronic long-term ailments.
Equally important, insurance companies also need to recognise the benefits of home care options. They need to access and discover the huge cost savings versus hospitalisation. If insurance built in a home care element, many more seniors can access the care and attention they need. This would reduce the need for hospitalisation or minimise hospital stays.
Lack of Geriatric Specialists
The other limitation on senior care is the lack of focus on geriatric medicine. Geriatric care is massively undervalued by the wider healthcare industry. There is limited focus on the holistic wellbeing of the elderly. While specialists focus on specific areas, there is a greater need for geriatric specialists who evaluate the wider medical and non-medical health needs of seniors. Similarly the nursing and other paramedical staff members are not formally trained in providing care for elderly patients. Therefore, ensuring availability of skilled caregivers will be important to provide quality services to seniors.
Government Regulation
Finally, on a regulatory level, more quality and certification standards need to be established and implemented for elder care facilities. This will ensure minimum standards of safety and security. To drive growth of the senior care market , adequate measures to ensure senior safety and wellbeing need to be put in place. The government needs to increase regulatory and policy support, as well as, attract private sector investment. Only then will the senior care segment benefit as an emerging market.
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