Have you ever stopped and spent a few minutes thinking back to the world you grew up in? Even if you don’t consider yourself a senior yet, the world was probably quite a different place to what it is today. Technology has not only changed the way we live but also changed how old we get. And with that increasing age comes a whole new world of senior care products.
From mobility aids to incontinence supplies, the range of products designed to enhance the lives of older adults is vast. Estimates vary, but according to a report by Future Market Insights Inc., the global market is currently valued at almost $30 billion. This is expected to grow to more than $56 billion over the next decade.
The problem is, however, that the sheer number of options can be confusing and lead to poor purchasing decisions. Whether it's overspending, choosing the wrong product, or not fully considering long-term needs, these errors can lead to financial strain, unnecessary waste, and frustration for both seniors and their caregivers.
Choosing Quantity Over Quality
Probably the most common mistake people make when buying a consumer product is focusing too heavily on the price. We all love a bargain, and getting something for a really low price sometimes brings a kind of smug satisfaction. However, as the saying goes, you get what you pay for. Cheap can often get you lower-quality products that don’t last, perform poorly, or fail to meet the user's specific needs.
Cheaper products may need to be replaced sooner or more frequently, resulting in a higher long-term cost. In addition, poor-quality items like flimsy walkers or poorly designed absorbent products can compromise the safety and comfort of the person using them.
Data published by Statista puts the annual cost of senior care in the US at between $24,700 and $116,800 annually. At least some of these expenses will likely be due to premature replacement of poor-quality products. Avoid adding to an already heavy financial burden by looking for products with proven reliability and durability, even if they come at a slightly higher price
Not Considering Individual Needs
Another frequent mistake is purchasing generic products that don’t cater to the specific needs of the user. Every person has unique requirements based on their health conditions, mobility level, and personal preferences. For example, not all wheelchairs or mobility aids work for everyone. Seniors with arthritis might need devices with easy-to-grip handles, while someone with a history of falls may require more stable walking aids or fall-prevention measures like grab bars. Buying inappropriate products that end up at the bottom of a closet not only wastes money but also increases the risk of accidents and injuries.
According to a research report by Betsy Phillips and Hongxin Zhao, almost a third of mobility devices end up underutilized or discarded. They list poor device performance and changing user needs as two of the most significant factors.
Overbuying or Stockpiling Products
Another human trait is the tendency to overbuy or stockpile items that we use regularly. While it may seem like a good idea to buy in bulk to save money, stockpiling can result in products expiring or becoming unsuitable due to changing requirements. In addition, stocking up on more than you need takes up space in the home, making it harder to keep organized and tidy.
The cost of medical waste in the US is staggering with estimates running to just under a trillion dollars. While it would be a stretch to attribute this number entirely to poor purchasing, much of this waste does come down to products that remain unused due to overstocking. As far as possible, try to limit purchases to what can be used up in two to three months at most.
Not Using Insurance or Financial Aid Options
Many people make the mistake of not researching insurance coverage or financial aid options before purchasing senior care products. Medicare, Medicaid, and other private insurance providers often cover certain products, but many individuals are unaware of what is included under their plan. As a result, they may pay out-of-pocket for items that could have been fully or partially reimbursed.
Similarly, various non-profit organizations and government programs offer financial assistance for seniors in need of specific care products, such as durable medical equipment or mobility aids. Before committing to the purchase of senior care products, speak to an insurance representative to fully understand what your policy covers. Also explore potential financial aid options that could save you money. The Consumer Financial Protection Bureau and the usa.gov website offer useful advice in this regard.
Ignoring Long-Term Needs
Far too often, people focus on a quick fix rather than considering the likelihood that a person’s needs will evolve over time. Replacing products too frequently becomes expensive and inconvenient. For example, a walker that provides adequate support for today’s mild mobility problems won’t be appropriate later on when the user requires a more supportive device, such as a wheelchair.
It can be a difficult balancing act to solve the immediate problem while also allowing for long-term needs. It can, however, avoid constant repurchasing and readjusting, which will ultimately cost more time and money than investing in an adaptable, future-proof solution from the beginning.
The Financial Consequences of Mistakes
Healthcare costs in the US are among the highest in the world and more than double that in other wealthy countries. According to a Gallup survey, almost half of American adults have difficulty affording healthcare. In fact, 8% are classified as “cost desperate.” Making mistakes when purchasing senior care products can be disastrous for these families.
Empower yourself to make informed decisions when purchasing senior care products. This helps reduce unnecessary costs and waste. Speak to experts to help you understand your specific needs and to identify the products that best meet those needs and your individual preferences.
At LL Medico, we have almost 30 years of experience in the senior care market, and we stock a comprehensive range of top-quality products at competitive prices. Shipping is free within the continental US, with no minimum order value and, what’s more, with our Autoship feature, we can deliver smaller orders at regular intervals, ensuring you don’t overstock or run out.
Whether it’s adult diapers, mobility aids or nutritional supplements, LL Medico has what you need. To help you save wherever possible, all our product listings indicate whether they’re FSA/HAS eligible. Call us today at (855) 422-4556 or email support@llmedico.com.