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Companion News...

The cost of long term care

The ever-increasing cost of care is putting strain on an already overstretched NHS and pushing many families into debt. As more becomes known about the value of preventative measures, more elderly people are using technology to understand and predict falls or changes in their wellbeing - and potentially even save money on future care bills.

Companion Watch provides a vital lifeline between the watch wearer and their support network, offering reassurance for families across the UK. The Companion Watch is continuously monitoring well-being metrics, and in the event of an emergency such as a fall, your Companion raises an alarm, alerting your support network for early intervention.

Simply put, the Companion Watch empowers elderly people to continue living independently.

We all know the old adage - “Prevention is better than cure” but it seems that this may never have been more true than when it comes to long-term social care. Studies have shown that people who take preventative steps as they age will generally live healthier and more active lives than those who don’t.

Those who don't focus on prevention are more likely to develop multiple long term health conditions which require more costly care interventions.

NHS Pressure:

63% of NHS healthcare spending goes into curative and rehabilitative care - the kind you would expect after a serious fall, for example.

An 85 year old man costs the NHS around 7 times more on average than a man in his late 30s.

85+ people cost the NHS around £7k per year each. Health spending per person sharply increases after age 50.

Care at Home Costs

Even as a dementia patient, you may be expected to pay for home care. Some turn to equity release schemes in order to secure funds for care, which can mean devaluation and even loss of beloved family homes.

Care Costs of Residential Nursing Home

Depending on your location and care needs, the monthly average cost of residential care is £2,816 and receiving nursing care in a care home costs on average £3,552. This puts a great deal of strain on families.

How Companion Can Help

For just 83p per day you can have access to vital wellbeing data that could pre-emptively warn of inactivity, heart or respiration issues. Dealing with these issues early could potentially save you - and the NHS - thousands in restorative care.

Monitoring the wearer’s wellbeing metrics using trend analysis can help you to spot problems early, leading to a healthier, more independent lifestyle that doesn’t come with a huge price tag for care.

Companion Watch is cleverly designed to detect and alert you to falls. In December of 2021, the NHS dealt with a record number of ambulance call-outs for life threatening illnesses - an average of one every 33 seconds.In the emotional panic that follows a fall, many will dial 999 unnecessarily. Companion Watch connects you to your support network, who can talk to you directly through the watch and, if necessary, send someone to check on you.


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