Estimating the Cost of Caregiving

The impacts to both familiar and professional caregivers providing care to PwPD and others suffering from neurological diseases and disorders are significant. Stress, depression, missed social opportunities along with personal expenses and lost wages cumulatively take a toll. To effectively support professional caregivers, we need to measure these impacts carefully. Forgone wages of professional caregivers are a particularly important metric to track since giving up paid employment can have a huge financial impact on caregivers and their families. National estimates of forgone wages for dementia caregivers assume that all caregivers are impacted in the same way. While this method leads to eye-popping values for caregivers forgone wages, it covers up important differences among different subgroups of caregivers. Better methods are needed for calculating foregone wages in order to increase retention rates and improve public policies supporting caregivers (Source:  IHME, 2/27/24).