Medline ® Abstract for Reference 94
of 'Overview of comprehensive patient assessment in palliative care'
The opportunity costs of informal elder-care in the United States: new estimates from the American Time Use Survey.
Chari AV, Engberg J, Ray KN, Mehrotra A
Health Serv Res. 2015;50(3):871. Epub 2014 Oct 7.
OBJECTIVES: To provide nationally representative estimates of the opportunity costs of informal elder-care in the United States.
DATA SOURCES: Data from the 2011 and 2012 American Time Use Survey.
STUDY DESIGN: Wage is used as the measure of an individual's value of time (opportunity cost), with wages being imputed for nonworking individuals using a selection-corrected regression methodology.
PRINCIPAL FINDINGS: The total opportunity costs of informal elder-care amount to $522 billion annually, while the costs of replacing this care by unskilled and skilled paid care are $221 billion and $642 billion, respectively.
CONCLUSIONS: Informal caregiving remains a significant phenomenon in the United States with a high opportunity cost, although it remains more economical (in the aggregate) than skilled paid care.
Department of Economics, University of Sussex, Jubilee 221, Brighton BN1 9RH, UK.