Read Advisory Board's take: Why this list should be a reminder about the need for a geriatric strategy
Hawaii, Minnesota, and Massachusetts topped WalletHub's list of the best places to retire in 2019 based on health care, but they did not make WalletHub's list of the top-five best states for retirement overall.
For the list, WalletHub ranked all 50 states based on 46 weighted metrics across three key categories:
Each metric was graded on a 100-point scale, with a score of 100 representing the most favorable conditions for retirement and a score of zero representing the least-favorable conditions for retirement. Based on those scores, WalletHub calculated each states weighted average in each category and determined a final score for the overall ranking.
According to WalletHub, the best states for retirement, or those that had the highest scores on the 100-point scale, include:
The worst states for retirement, or those that scored the lowest on WalletHub's scale, include:
WalletHub noted that some states were ranked higher when only considering their health care scores.
The best states for retirement based on their health care scores include:
The worst states for retirement based on their health care scores include:
According to the researchers, Hawaii, Minnesota, and Massachusetts also ranked in the top five states with the longest life expectancies, coming in at No. 1, No. 2, and No. 5, respectively. Similarly, West Virginia, Alabama, and Mississippi ranked on the list of states with the lowest life expectancies, coming in at No. 47, No. 49, and No. 50, respectively (McCann, WalletHub list, 1/14; McCann, WalletHub methodology, 1/14).
Tomi Ogundimu, Practice Manager, Population Health Advisor
This list can serve as a well-needed reminder to providers that elderly patients often have distinct health care preferences and needs from the rest of the population.
“By 2030, 1 in 5 Americans will be over 65”
While providers often overlook geriatric services as low-revenue, impending demographic changes are forcing a growing focus on this population. By 2030, 78 million Americans—or 1 in 5—will be over the age of 65. And this population often requires different care due to their high prevalence of chronic conditions—82% of Medicare beneficiaries have one or more chronic condition—and declining function—27% of community-dwelling adults age 65+ need assistance with one or more activity of daily living (ADL).
Factor in the worsening shortage of geriatricians—which is expected to grow to over a 22,000 shortfall nationwide by 2030—and you can see why it's so critical for providers to have a well-coordinated, multidisciplinary approach to this population. We've found through our research that creating this intentional geriatric care strategy is crucial to both attracting this population, providing the best care to them, and ultimately, lowering costs.
Here are several approaches that hospitals and health systems can take:
For organizations looking to better support the senior patient population, but not sure what services to offer, start with the Cross-Continuum Senior Services Scorecard. This scorecard ranks services offered across inpatient, ED and trauma, outpatient, and post-acute care from baseline to pioneer.
We also have a number of resources to help you dive deeper in crafting a geriatric strategy. Make sure to read about:
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