Dementia care spending to rise by over 350 per cent
A new report on national health expenditure estimates that the cost of dementia care will exceed $17 billion by 2033.
The national cost of dementia care is expected to blow out to $17.8 billion by 2033, according to a report from the Australian Institute of Health and Welfare (AIHW).
This represents a 364 per cent increase on dementia care spending on 2003 figures and only diabetes has a higher projected expenditure expenditure, with an estimated 436 per cent increase in spending on the disease.
The report said that the main reason for the dramatic increase in dementia care spending will is population ageing.
“Although the rate of disease is constant, a 200 per cent increase in the numbers of people with dementia is projected over the next 30 years. This increase is entirely due to population ageing and population growth,” it said.
Other factors that contributing to the projected increase in dementia spending include health price inflation, a rise in the care needs of people with dementia and population growth.
Overall, the report estimates that residential aged care expenditure will increase by 295 per cent, compared to an overall health expenditure increase of 189 per cent.
The report predicts a 334 per cent increase in health expenditure on Parkinson’s disease and a 317 per cent increase in the cost of ‘Other neurological’ conditions as well.
