By 2030, all baby boomers will be 65 or older. With an estimated population of 76.4 million boomers in the United States, the senior care industry is expected to grow exponentially. It is difficult to comprehend just how quickly and rampant the senior care space is predicted to evolve.
“A recent report from Zion Market Research states that the global elderly care services industry was valued at $1.1 trillion in 2022. Estimated to experience a 6.5% compound annual growth rate (CAGR) from now until 2030, the industry will be worth an incredible $1.8 trillion by the end of the forecast period.” — Always Best Care
If 7% of the of the adults aged 65 and older require help with personal care, then we can expect 5 million senior adults in need of some outside assistance. We are already facing a caregiver shortage that is massively affecting older adults. Many senior care facilities are concerned how they will handle the upcoming influx of residents. The answer to their worries is AI.
Why is it Essential to Include AI in Senior Care Facilities?
- Improved Patient Safety: According to Forbes, AI is a “beacon of hope in elder care”. AI’s capability of health monitoring and predictive care through AI-powered monitoring systems is one of the many reasons more facilities should consider implementing AI. Fall prevention is another reason many facilities may turn to AI. About 20% of falls cause a serious injury to seniors, and 1 in 4 seniors report falling each year.
- Enhanced Quality Care: Many AI algorithms have the capability to created personalized care plans based off the collected data. Medication mismanagement is a common issue among seniors. AI-driven systems can be used to manage medication adherence.
- Increased Efficiency and Cost-Effectiveness: With the ongoing caregiver shortage crisis, AI can reduce some of the pressure by automating some of the tasks. This will free up staff for the more complex tasks. AI-based analytics can also be used to optimize resource allocation.
- Addressing Staffing Challenges: By supplementing human caregivers with with AI-powered tools, staff are able to utilize their time better and avoid burnout. In turn, this increases job satisfaction, which will help retain more staff members.
When implementing AI in senior care facilities, it’s important to remember to maintain a balance between technology and human compassion. AI cannot completely replace humans, but it can be used as a tool. If you are interested in how Zemplee’s AI-powered solution can benefit your facility, please schedule a demo a today!
