Colorado Springs Medical Briefs: May 9, 2008

Colorado Springs Business Journal, May 9, 2008 by Amy Gillentine

The cost of long-term care in Colorado has increased 20 percent since 2004, compared to a nationwide increase of 17 percent.

A Cost of Care Survey released by Genworth Financial Group finds that the cost of elder care in nursing homes, assisted living facilities and at-home care increased for the fifth straight year. One year in a private nursing home in Colorado, for example, costs $75,259. By contrast, the national average for the same type of facility is $76,460 -- more than one and a half times the average annual household income of $48,201.

Most long-term care services in the United States are rising at a rate faster than inflation, as the cost of providing this type of care continues to rise.

Each year, Genworth compiles the cost of care in more than 10,000 nursing homes, assisted living facilities and among home care providers in all 50 states and 90 geographic regions, including the District of Columbia. This year's survey also included adult day health care costs.

This year's survey also included "A Workforce to Care for Our Aging" which shows an imminent shortage of caregivers. The United States will need to recruit 200,000 new direct-care workers each year to meet demand among the 78 million baby boomers as they age. In addition, the care-giver work force is dwindling and faces issues of retention.

Additional findings from the 2008 Cost of Care Survey include:

Assisted living -- A private one-bedroom unit in an assisted living facility in the United States has an average annual cost of $36,090. The comparable cost in Denver is $40,703 and $37,261 in other areas of the state.

Home care -- Nationally, the average hourly rate for a non- Medicare certified, state licensed home health aide is $19.18, which translates to $43,884 annually for 44 hours a week of care. In Denver, the average hourly rate is $21.27, or $48,666. Elsewhere in Colorado, the average hourly rate is $18.54, or $42,420.

Adult day health care -The average annual cost for five days a week in an adult day health care facility is $15,236 nationally. The comparable cost in Denver is $13,005 and elsewhere in the state the cost is $16,289.

New dental practice

Dr. Andrew Hall plans to add another dentist office to the mix in Colorado Springs.

Hall's practice, The Studio for Exceptional Dentistry, is scheduled to open later this month in Northgate Plaza at 13435 Voyager Parkway.

He has signed a seven-year lease and broken ground on the 2,200 square-foot practice. Hall served in Iraq and also has been practicing dentistry in the Springs for four years.

"It's no secret that there is rapid growth in this area, so it was a natural location for me to start this practice here," he said.

Amy Gillentine covers health care for the Colorado Springs Business Journal.