CaringWays® Recognizes Alzheimer’s Awareness Awareness Month

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CaringWays® Spotlight: Stephen Murray, Engagement Specialist

Medical Fundraising

Financial Challenges and Medical Expenses Patients Have During the Holidays

November 17, 2022

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November is Alzheimer’s Awareness Month, a time to heighten awareness of Alzheimer’s disease and show support for the more than 6.2 million Americans living with it. Alzheimer’s can place an enormous psychological and emotional burden on patients and caregivers. It can also place a tremendous financial strain on families. 

Recent studies show that the cost of caring for Americans with Alzheimer’s disease and other dementias has surpassed the cost of treatment for cancer patients or victims of heart disease.

To honor and support the millions of patients and families who are navigating life with Alzheimer’s, we want to recognize the impact of the disease and highlight how you can play a critical role by setting up a CareFunding campaign.

Financial Challenges in the Fight Against Alzheimer’s

Here are just a few statistics that speak to the financial impact that Alzheimer’s has on patients and their families:

  • The average annual out-of-pocket costs to care for older adults with Alzheimer’s and other dementias are nearly five times higher than costs for people without those conditions. (Source)
  • People with Alzheimer’s disease or dementia have twice as many hospital stays per year as people of the same age. (Source).
  • The lifetime cost of dementia is estimated to be more than $375,000. (Source)

The stress from these direct costs is only compounded when you consider the other financial implications beyond medical expenses. According to a report from the Alzheimer’s Impact Movement:

  • More than 1 in 6 Alzheimer’s caregivers had to give up their jobs when they began caring for a family member.
  • 40% of caregivers experience at least a 20% loss of income from working fewer hours to support a patient.
  • The average Alzheimer’s caregiver spends more than 27 hours per week providing care.

When you consider the weight of responsibility and sudden increase in financial demands, it’s no wonder that 47% of caregivers report a significant financial strain due to caregiving.

The Power of CareFunding to Support Alzheimer’s Patients 

It’s clear from the data that fundraising can make a difference in the lives of a family coping with dementia. Here are a few specific ways that CareFunding can provide hope for Alzheimer’s patients and their families: 

1. Cover prescription costs.

While ​​there is no cure for Alzheimer’s, there are treatments that can slow disease progression and treat symptoms. With CaringWays®, you can help your loved one pay for prescriptions during treatment along with any other healthcare expenses they might need. This can be incredibly helpful when you realize the fact that Alzheimer’s patients spend twice as much time in the hospital and often take medications for years.

2. Support caregivers by paying for everyday expenses such as food, travel, and home care services.

Caring for someone with Alzheimer’s or dementia can be extremely stressful. While every person’s experience is unique, most caregivers have to make significant changes to their own routines in order to care for an ailing family member. CaringWays® provides a way to support patients and caregivers by helping them cover the everyday burdens and expenses during their medical journey.

3. Provide hope and encouragement for patients and caregivers during one of the most difficult seasons of their lives.

Caring for a person with Alzheimer’s or dementia takes time and effort. It can feel lonely and frustrating watching someone you love change because of the disease. Providing financial support that helps individuals cover everyday expenses could be one of the best ways to show a family coping with Alzheimer’s disease that you care.

CaringWays® Support Alzheimer’s Patients and Caregivers

At CaringWays®, we want to do everything we can to provide help and hope to patients and families experiencing health-related challenges. As the first CareFunding platform designed specifically for medical fundraising, we are honored to support Alzheimer’s patients and caregivers during such a challenging season of life. 

If you’re a caregiver or you know someone whose life has been impacted by Alzheimer’s, our team at CaringWays® is here to help. We can help you set up a CareFunding campaign and equip you with best practices to maximize the success of your campaign

Reach out to our team today to learn more about our platform and discuss the best way to support your loved one. 

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