Wednesday, May 26, 2010

Geriatric Management Consulting

A recent family consult made it very clear that Geriatric Care Management Consulting is as much about management consulting as geriatrics---perhaps more. In my first career I worked as a management consultant---planning, time and expense, evaluation, etc. Given the high cost of aging and the economic downturn---I am using that vocabulary more and more.

There is a wealth of information about diseases, the aging process and caregiving on the Internet. One service the GCM provides is vetting this information for the user.

I suggest that there is a whole other kind of essential service---managing the care enterprise. One family recently moved their father into an assisted living facility at a cost of $4K/month. His health needs and early dementia require this level of care. Given a life expectancy of 7-10 years---his care will cost between $336K and $500K. Does he have that kind of money? If not, what is the estimated shortfall? What is the plan to cover that shortfall?

It’s a given that a geriatric management consultant would bring knowledge about aging. He/she could also bring detachment, awareness of the big picture and current info about costs, asset management, resource allocation, etc. Skill in meeting facilitation will also contribute to the success of the enterprise.

Because this is an enterprise---a not-for-profit financial organization that has a specific mission---the long-term care of the parent.

The geriatric management consultant might be even more essential if that enterprise is underfunded---more and more common these days.

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