The “silver economy” refers to the economic opportunities associated with the provision of services and products to meet the needs of the elderly. As the population ages, there is an increasing demand for products and services that cater to the unique needs and preferences of the elderly, such as healthcare, social services, technology, and travel and tourism. There is a worldwide trend toward a more personalized and holistic approach to medical services for the elderly, including preventive care and managing quality of life. Technology is increasingly applied to provide telemedicine and remote monitoring for elderly patients, allowing them to receive care from the comfort of their homes.
The Hong Kong Special Administrative Region government has announced its intention to formulate cross-sectoral policies for catering to the needs of the elderly in its latest Policy Address, including providing more choices for cross-boundary elderly care, such as relaxing the eligibility of the Residential Care Services Scheme in Guangdong province to allow Hong Kong private organizations with experience and a good track record in providing subsidized residential care services for the elderly to join the program. In addition, the government encourages elderly Hong Kong residents to retire in the mainland cities of the Guangdong-Hong Kong-Macao Greater Bay Area. This article explores the opportunity of the policy: The development of the silver economy in the GBA as a medical-services and care hub for the elderly.
Hong Kong is limited in space, and its high living cost makes it difficult for low-income families to provide a decent living environment for their elderly parents. Accommodation for the elderly is a social problem. In contrast, the living cost in most mainland cities in the GBA is comparatively low, and spacious homes are more affordable there. However, some elderly people and their families prefer having the clinical services in Hong Kong. Therefore, the feasibility of elderly people having clinical services in Hong Kong and long-term care in the mainland cities in the GBA is worth investigation.
Clinical services are typically short-term and focused on treating a specific illness or condition, while long-term care is ongoing and focused on providing support and assistance to seniors who require help with daily activities. In Hong Kong, clinical services include diagnostic testing, medication management and rehabilitation services. Hong Kong has a well-developed healthcare system that is known for its efficiency and quality. It has a high number of medical professionals per capita, resulting in shorter wait times and more personalized care for patients. Moreover, Hong Kong has a modern and well-equipped healthcare infrastructure that includes advanced medical technologies and facilities, allowing for more accurate diagnoses and better treatments for elderly patients. Hong Kong is relatively small with a well-developed transportation system, making it easier for elderly patients to access clinical services. Many clinics and hospitals in the city offer bilingual services, which can be beneficial for elderly patients who have difficulty communicating in Mandarin or Cantonese.
In conclusion, as the aging population continues to grow in Hong Kong, it is increasingly urgent to provide an effective solution to the elderly care problem. One potential solution is to develop a medical-services and care hub for Hong Kong’s elderly in the mainland side of the GBA, which could provide a range of services and resources to meet the unique needs of the elderly
Most elderly homes in Hong Kong provide long-term care providing ongoing support and assistance with daily living activities, including rehabilitation services. The primary goal is to provide a safe and comfortable environment for seniors who require assistance with daily living activities. However, there have been numerous complaints about insufficient services provided by local elderly homes.
Long-term elderly care on the Chinese mainland is generally less expensive and more affordable because of the lower cost of living in most parts of the mainland, including the cities in the GBA. Thus, those GBA cities have advantages in providing long-term elderly care compared with Hong Kong in terms of costs, availability, family support and cultural factors.
The development of the silver economy in Australia may offer some lessons to the GBA. The aged-care system in Australia offers flexible care that extends across the spectrum from home support to residential aged care, allowing elderly people with different needs to receive the services they require. Transition care and short-term restorative care provide short-term assistance to reduce difficulty with everyday tasks and restore independence, e.g., after a hospital stay. Specialized aged-care programs are designed for particular groups in society, such as the one that provides culturally appropriate care for older Aboriginal and Torres Strait Islander Australians.
The Australian aged-care system is closely connected to the healthcare system via the use of general practitioners (GPs) and specialist doctors, making high accessibility to doctors possible. Among people living in permanent residential aged care, some 92 percent have at least one Medicare Benefits Scheme claim for a GP visit. All elderly individuals taking advantage of aged care have easy access to the health system.
Funding for home-care packages in Australia is directly given to service recipients instead of providers, allowing for more flexibility as well as autonomy in the decision of choosing the most suitable aged-care service for one’s needs. An online platform named “My Aged Care” is designed to serve as a starting point for easy access to government-subsidized aged-care services. Access can be gained by self-referral or requests from carers or health and aged-care professionals, reducing the hassle of contacting government services and service providers individually. Increasing physical design that is friendly to the presence of family, friends, and the community in aged-care facilities is another important aspect of the aged-care system. Facilities have begun to incorporate accommodation for family members staying overnight with a resident who is distressed, acutely ill, or dying, aiming to maximize the comfort of patients. The aged-care system in some states in Australia offers flexible care and high accessibility to doctors, and funding for home-care packages is directly given to service recipients, allowing for more autonomy in choosing suitable services.
In conclusion, as the aging population continues to grow in Hong Kong, it is increasingly urgent to provide an effective solution to the elderly care problem. One potential solution is to develop a medical-services and care hub for Hong Kong’s elderly in the mainland side of the GBA, which could provide a range of services and resources to meet the unique needs of the elderly. Both Hong Kong and the mainland can benefit from the development of the silver economy in the GBA by learning from other countries such as Australia. Other important considerations include transport for elderly individuals, innovative funding models, and incentives for the elderly’s relocation. By working together and developing innovative solutions, policymakers and service providers can help ensure that the elderly receive the care and support they need to maintain their health, independence and quality of life. China has a culture that values respect for elders and emphasizes the importance of family. This cultural emphasis can lead to a more-supportive and compassionate environment for long-term elderly care.
Tiffany Wong is a senior student at St Michael’s Collegiate School.
Philip Wong is deputy director of the Pan Sutong Shanghai-Hong Kong Economic Policy Research Institute, Lingnan University.
The views do not necessarily reflect those of China Daily.
