Expanding senior care industry faces affordability challenges

Bengaluru: Did you know that when stroke patients are treated within the ‘golden hour' and undergo rehabilitation during the critical ‘golden recovery period' — the first 90 days after stroke — their recovery chances soar, hospital stays shorten, and long-term care costs drop?

Why does this matter? The senior care industry, valued at $7-10 billion, is rapidly evolving and expected to triple by 2030. But with this growth comes a key challenge: Affordability. As the sector expands into a holistic ecosystem of housing, healthcare, and assisted living, issues like workforce shortage, fragmented regulations, and a lack of standardized care are driving up costs, making quality care out of reach for many seniors.

On an average, seniors are charged a minimum of Rs 30,000 a month for basic services, with costs reaching as high as Rs 1.5 lakh for more comprehensive care. During the ASLI Ageing Fest at Rajajinagar on Friday, experts pointed at substantial gaps in the industry, especially in human resources and regulatory frameworks.

Rajit Mehta, chairperson, Association of Senior Living India (ASLI), said: "While there are many options available for senior citizens today, the nuclear family structure and modern lifestyles make it difficult for families to provide care at home. The industry's lack of regulations and workforce shortage make senior care expensive. The number of senior citizens far outweighs the number of trained nurses, especially in geriatric care."

Kushal Ramesh, co-founder of Manasum Senior Living, broke down the costs across different segments of senior care. "The most popular segment is independent senior living, where people buy apartments from developers or senior care providers. Monthly costs in these facilities range from Rs 30,000 to Rs 60,000, covering maintenance, food, and basic healthcare. Rentals in similar facilities can go up to Rs 80,000, depending on the services offered. Assisted living facilities, where caregivers are shared, start at Rs 30,000-35,000. Specialized care for conditions like dementia or memory loss costs between Rs 85,000 and Rs 1 lakh, given the higher level of medical intervention required. The sector is labour intensive, with limited technological integration, relying largely on human care for now."

The financial strain becomes more pronounced when considering the importance of timely medical intervention. Dr Gaurav Thukral, co-founder of HCAH Recovery and Rehabilitation Centre, highlighted the crucial ‘golden hour' in stroke recovery. "If a patient is brought to hospital within the first hour, they can often be discharged in just three days, with medical expenses of around Rs 2 lakh. However, delays in treatment significantly increase costs and the risk of long-term complications," he explained. "The first 90 days post surgery are vital for recovery, especially for younger patients. The chances of regaining lost functions are highest within this window, but after 180 days, the likelihood of becoming bedridden is nearly 100%."