Caregivers are an invisible workforce. They play a critical role in the health and success of our communities and the U.S. healthcare system, and much of this demand is satisfied through uncompensated care.
The number of American adults who serve as a caregiver continues to grow at a rapid rate, as over 51 million elderly adults require a caregiver to manage serious medical conditions. Caregiving can take a toll on many aspects of a caregiver’s health and well-being including their mental, physical and financial health. Each year alone, over 650,000 paid jobs are lost by caregivers.
The lack of interventions to address the demands of caregiving is costing the U.S. economy $264 billion annually. This economic impact was determined by both indirect impact, which accounts for poor health outcomes associated with the demands of providing care, and direct impact, which accounts for time spent caregiving and its influence on caregiver decisions around work, absenteeism and productivity.