Baby Boomers' Healthcare Demands: A looming Workforce ShortageRising Costs to Shape Future Projections

As Baby Boomers age, demand for healthcare services is on the rise and reaching its peak by 2030. It's predicted that in just eight years, one out of every five Americans will be at least 65 years old, marking a historic moment when seniors outnumber children.

This demographic shift has significant implications on healthcare resources, particularly concerning the workforce. As it stands, there is an acute shortage of qualified health professionals and staff shortages are expected to worsen by then. CNN forecasts that the US needs to hire approximately 2.3 million new healthcare workers by 2025 just to meet this rising demand. Meanwhile, according to a recent study from the Association of American Medical Colleges AAMC, there could be as many as 124,000 physician shortages by 2034.

This shortage exts beyond physicians; it affects numerous other critical healthcare roles including nursing, radiology imaging, and more. A Mercer report estimates that over the next few years, we'll see a shortage of around 400,000 nursing assistants and nearly 51,500 nurse practitioners. These gaps will impact health costs as well as patient access to care and lab results.

The demand for healthcare services among seniors has also escalated. Currently, 34 of the demand for physicians comes from those aged 65 and older; this figure is expected to increase to 42 by 2034. In tandem with the workforce challenges, national health sping projections suggest that it will rise substantially - reaching almost $6.8 trillion by 2030.

Specifically, demand for geriatric care services is forecasted to grow at a compound annual growth rate CAGR of 5.3, totaling approximately $700 million by the of 2028. A notable tr emerges as about 90 of seniors indicate their intention to remn in their current homes as they age, which boosts demand for home care services and digital health solutions such as wearables and remote monitoring devices.

In response to these rising healthcare needs, many hospitals are increasing construction activities. Bisnow notes that hospital construction is on the rise, with 45.1 million square feet of new projects in progress compared to only 28.7 million sq ft recorded in the second quarter of 2020.

The tr towards aging in place has fueled growth for medical office buildings MOBs. The total investment in MOB real estate surpassed records, rising from $11.9 billion in 2020 to an all-time high of $17.4 billion in 2021. Many hospitals are expanding their presence off-campus as assets like these are often conveniently located near bustling commercial hubs including retl and dining areas.

Shawn Janus

As Colliers' National Director for Healthcare, Shawn uses his extensive experience and deep knowledge of the healthcare real estate sector to provide innovative solutions tlored to the needs of clients. With over three decades in commercial real estate, and more than two decades specialized in healthcare, Shawn has advised health systems, hospitals, physician groups, and third-party ownersdevelopers on strategic asset management and growth strategies.

that this information is based on a translation of an existing article and may include some adjustments for clarity and structure while mntning the 's essence.
This article is reproduced from: https://knowledge-leader.colliers.com/shawn-janus/demand-for-healthcare-grows-as-baby-boomers-age/

Please indicate when reprinting from: https://www.89uz.com/Moon_nanny__child_rearing_nanny/Elder_Care_Healthcare_Future_Needs.html