Five Keys to Prepare for the Business of Aging
Elvira Rojo, Marta; Rodríguez Lluesma, Carlos; Mas Canal, Núria
Publisher: Estudios y Ediciones IESE
Original document: Five Keys to Prepare for the Business of Aging
Economic and demographic forecasts reveal the unsustainability of health-care systems in industrialized countries. The rising proportion of elderly and chronically ill people is putting serious pressure on existing systems, which were not designed to support long-term dependents. This situation makes current systems more inefficient and costly. Yet it also presents more opportunities for employment, entrepreneurship and improvements in the quality of care. This article identifies best practices in the organization and management of care services for chronic patients and elderly people, based on an ongoing transatlantic research project spearheaded by IESE. Changing the health-care model is multidimensional and cannot be reduced to the mere introduction of isolated formulas, such as copayment, say the authors. Instead, it requires comprehensive solutions. They recommend five key areas where efforts need to be focused: using valid and open indicators, creating legitimate jobs, developing better professional profiles, taking an integrated approach and involving everyone to make the overall system better and more efficient.
Tools and Frameworks:
> "Sweden: Most Jobs for Care Workers" shows that the proportion of stable jobs focused on caring for elderly people varies widely among OECD countries.
> "There's No Place Like Home" predicts that jobs related to the dependence of elderly people will increase significantly over the next decade.
> "Where Are the Opportunities?" highlights some opportunities in elder care across many sectors.
European Innovation Partnership on Active and Healthy Ageing, Home Instead Senior Care, Program of All-Inclusive Care for the Elderly, PACE, Vitalia, Edad & Vida, Dependent Care Law, Extended Care Career Ladder Initiative, Virtual College, Whole System Demonstrator, Walter Reed Army Medical Center, Chronic Medication Service, Cleveland Clinic
Based on a transatlantic research project involving the London School of Economics, the Biomedical Campus University of Rome and ESSEC in Europe, together with Harvard Business School and the Mailman School of Public Health in the United States.
About the Authors:
Marta Elvira is a professor in the Department of Managing People in Organizations and assistant director of the doctoral program at IESE.
Carlos Rodríguez Lluesma is an assistant professor of Managing People in Organizations at IESE.
Núria Mas is an associate professor in the Economics Department at IESE.