General marketing Flashcards
For media inquiries, podcasts, etc
How many ALFs in Maryland
as of Feb 2024
1682
as of Feb 2024
How many ALF beds in Maryland
as of Feb 2024
26,473
How many Americans are now age 65 or older
1 out of every 6
2020 Census
Baby boomers were born in what age range?
1946 to 1964
From 2010 to 2020, the 65-plus population experienced it’s…
- Largest ever 10 year numeric gain (15.5 million people)
- Largest ever percentage point increase (13% of total population to 17% of total population)
- Fastest growth rate; 65 plus grew at five times the total population
Medicare and Medicaid destinction as it relates to long term care needs
Medicare only covers shorter-term services and Medicaid covers help for qualifying individuals. Those not eligible for government services often choose to rely on spouses or children who pay for services out of pocket, according to experts.
https://www.cnn.com/2023/09/16/business/aging-population-insurance-costs
What are some solutions states are implementing to handle the rapidly increasing need for long term care access?
- Washington state imposes a tax on all workers that goes into a fund to provide up to $36k in lifetime long term care benefits to qualifying residents (CA, PA, and NY are considering similar programs)
- In Vermont, the UV Medical Center purchased a hotel with 12 beds to house homeless patients who need additional short-term medical care post-discharge.
Why are baby boomers sliding into homelessness?
WSJ article (Why more baby boomers are sliding into homelessness - 9/2023
Not enough income or savings:
Back to back economic downturns (2008 financial crisis followed by the pandemic); those in their 60s have had a permanent set back in their wealth.
Worked the entire lives in physically demanding jobs, and never made enough to put money away.
And then
Housing costs and rising rents
A) Living month to month on SSI and facing rent increases
B) The loss of a spouse (and their income)
The onset of a medical condition
A) Can’t work anymore
B) Forget to pay their bills and get evicted
What are the factors driving the need for a robust assisted living market?
- Shifting population demographics; the baby boomers
- Increase in Americans with medical complexity
- Financially unprepared
What percentage of people in shelters are 55 plus?
WSJ article (Why more baby boomers are sliding into homelessness - 9/2023
20%
as of 2021
What’s the mission of your company
To be the nations most respected provider of transition support services for medically complex people.
What does SilverStay do?
SilverStay is a Transitions Support company that helps medically complex people transition to a robust environment where they can thrive in the long run.
What does it mean to be a transitions support company?
We help people who are failing at home, or maybe don’t even have a home find assisted living, long term care, or other settings that can help manage their needs for the long run.
There are three distinct aspects of our work that allow us to support medically complex people safely and effeciently:
We do this with a highly experienced team of licensed social workers, a data-rich assisted living and nursing home network, and a super simple workflow.
What is a medically complex person
This could be an older adult suffering from dementia. It could be a middle aged person who suffered a severe stroke or a TBI. It could be a person suffering from a mential illness who can’t care for themself.
What is a major barrier to making assisted living a robust part of the healthcare market?
There’s no data on assisted living. How does one assess quality for a complex patient with no data? Nursing homes have 5 star data, ALFs have none. You can google around and find reviews, but they’re limited and likely to speak to quality of care for your situation.
