The data is irrefutable: The number of Americans 65 years of age and older is projected to climb roughly 50%, reaching 82 million by 2050. The number of people 85 years of age or older will nearly triple to 19 million. Even before accounting for this growth, there is sizeable supply problem. A previous Oliver Wyman analysis found that there are currently 3 million nursing home and assisted facility beds nationwide. The long-term care industry is also experiencing a significant workforce crisis, losing almost 229,000 caregivers since February 2020 and more than 95% of facilities have of staffing shortage, according to data from the American Health Care Association and National Center for Assisted Living.
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Source: https://www.oliverwyman.com/our-expertise/perspectives/health/2024/oct/500-billion-dollar-long-term-care-challenge-is-about-to-get-worse.html