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Economic Factors for Long-Term Care Facilities Name Date

Introduction In order to determine if services related to long-term care for the older population vary from home care and hospital care, this study will analyze the elements that affect these services. Additionally, it would be examined to see whether the government had any responsibility for financing long-term care for the elderly. Factors that distinguish LTC from a hospital stay. The term long-term care (LTC) is used to describe the treatment provided to patients who need assistance with their personal and medical requirements. This aids the patients in leading as securely and autonomously as feasible. A long-term caretaker may be a relative or specifically trained staff; they may also be present at the place of residence of the patient or in a facility that provides nursing care (Nguyen, et al., 2019) . A long-term care patient's caregiver is often present to assist that person with everyday tasks like getting dressed, taking a bath, and other such tasks. Most persons who want and/or use this service are growing older people who require assistance with everyday tasks due to a chronic illness and their family members are unable to do so. The primary distinction between long-term cares provided in the patient's home and at a hospital is that the majority of LTC services provided at home are not covered by Medicare. However, LTC in the hospital is covered by Medicare Part A, mostly since the individual being treated has a significant medical condition that makes staying at home unsafe (Nguyen, et al., 2019) . Some qualified at-home therapies, such as speech pathology and physical therapy, are covered by Medicare Part B since the patient requires a health care professional at home (Rahman, 2019). Medicare does not cover home care services provided round-the-clock, food delivery services, or

assistance with everyday tasks like washing, dressing, and using the restroom. All of these services are covered in a hospital since the patient is simultaneously receiving treatment for a severe illness (Medicare.gov). CON laws' effects Programs called Certificate of Need (CON) has an objective of reducing the price of healthcare facilities. Having the "Health Planning Resources Development Act" of 1974, these rules came into effect with the intention of limiting the total number of beds accessible in hospitals and nursing homes and preventing the unnecessary purchase of additional ones. According to the plan, any renovations to existing structures would have to be authorized in accordance with the needs of the local people in the area where the organization was expanding. The corporation in need of affirmations would be granted authorization to begin the plan after the needs were resolved. Certificates of Need were used to identify the approvals (NCSL, 2018). In 2016, 12 states had stopped running their CON programs, while 37 have continuing them. According to research (Rahman, 2019), home health care expenditure grew slowly in states with CON laws in place compared to those without them, whereas Medicaid and Medicare expenditures on nursing facilities increased rapidly in states with CON laws. LTC supply and demand The provision of long-term care will be in demand due to the growing older population; this should be taken into consideration when deciding whether or not to build new facilities and hire more in-home cares. Elderly people prefer to reside in their own residences whenever feasible, which increases the demand for home cares (Nguyen, et al., 2019) . However, there are situations

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when family members are unable to meet all of the patient's physical requirements because they are required to work or because they live far away. According to the CBO (Congressional Budget Office), in 2050, one-fifth of all Americans will be 65 years of age or older, increasing the number of people who will require help at some time in their lives (CBO, 2018). The role of the government in financing long-term care The government of the United States should cover the costs of long-term care for the elderly, in part because individuals may utilize their own long-term health savings and in certain cases, Medicare and/or Medicaid can cover the costs, depending on the individual's circumstances and medical insufficiencies. Since a home caregiver is less costly than an inpatient institution, the majority of individuals who can remain at home do so since they are not suffering from a medical condition that significantly interferes with their everyday activities. Additionally, not everyone needs a hired caregiver; sometimes, family members may take responsibility for the patient. Nursing residences are the most costly option when comparing prices for at-home care, assisted living facilities, and nursing homes, costing between $6,000 and $8,000 per month (Nguyen, et al., 2019) . According to older people, their long-term care expenses need to be covered by Medicaid and Medicare alone. Conclusion In this brief essay, the role of the federal government in providing long-term healthcare for the older population was examined, along with the characteristics that distinguish LTC provided at home from that provided in a hospital. It was obvious that the older people needed protection in

order to have access to all they needed and be able to stop worrying about who would take good care of them when their lives were at an end. A layer of protection for their future should be provided by family and the government. References Rahman, M., Galarraga, O., Zinn, J. S., Grabowski, D. C., & Mor, V. (2019). The Impact of Certificate-of-Need Laws on Nursing Home and Home Health Care Expenditures. NCSL (2018). CON-CERTIFICATE OF NEED STATE LAWS Retrieve from: http://www.ncsl.org/research/health/con-certificate-of-need-statelaws.aspx Congressional Budget Office (2018). Rising Demand for Long-Term Services and Supports for Elderly People. Retrieve from: https://www.cbo.gov/publication/44363 Nguyen, C. T., Hoang, D. T., Nguyen, D. N., Niyato, D., Nguyen, H. T., & Dutkiewicz, E. (2019). Proof-of- stake consensus mechanisms for future blockchain networks: fundamentals, applications and opportunities. IEEE access , 7 , 85727-85745.

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