As the trend to use technological innovations to help seniors live longer and more fulfilling lives continues to grow around the world (generally referred to as the Aging 2.0 movement), the focus at GTX Corp is to develop innovative, cost friendly, wearable technology, such as the patented GPS SmartSoles, that can keep help lower healthcare costs while keeping people connected and protected for about a dollar a day. #connectedandprotected
A comprehensive study was recently published in the Journal of the American Geriatrics Society, on the cost of caring for seniors with dementia.
They created a mathematical model—utilizing Federal Medicare records to simulate disease progression for newly diagnosed individuals with dementia.
The model estimates health care costs, including the value of informal care, for a person with dementia over a lifetime to be $184,500 greater than for someone without dementia, with 86 percent of costs incurred by family members.
Basically the cost to care for someone with dementia on average is $322,000 – compared to $137,000 for the same person without dementia.
Read the full article here.