An estimated 5.1 million Americans aged 65 years or older currently has Alzheimer’s disease, the most well-known form of cognitive impairment. And this number is expected to rise to 15 million by 2060. Cognitive Decline is associated $11 billion in Medicare Spending, representing an increase of 44% in medical costs compared with adults who do not suffer from mild cognitive decline.
Extensive data demonstrates a correlation between engaging in social activities and staving off the debilitating effects of dementia. In fact, a study out of Chicago found that social interaction can decrease the rate of cognitive decline in people diagnosed with Alzheimer’s by as much as 47 percent per year.
In this respect, the social and physical interactions enabled by Element3 Health’s GroupWorks platform serve as powerful counter to the debilitating effects of dementia and could lead to a reduction in healthcare spending by $3,500 per person per year or more in the treatment of dementia alone.