Walk-In Tubs save you thousands!Barry Smith
Cost is the single biggest issue many people seem to have when choosing to buy a walk-in tub or not. Many will say they would like one or even need one but the cost is what they have an issue with. For families struggling with the purchase decision, we want to examine the economic question of what the cost could look like if you didn’t have a walk-in tub and extra care was needed to stay in your home.
There are two ways to look at this question. The most obvious way is to look at the reduced need for personal care assistance. If one is able to safely bath themselves, then a family need not hire a home care professional to provide assistance. The second, somewhat roundabout way of calculating cost savings, is to look at the medical costs associated with bath related falls. These are the two biggest areas where a Walk-In tub can help to save money, reduce stress, and add safety and independence to someone’s life.
If a loved one is going to need to be cared for over a period of two years or more, then the purchase of a walk-in tub is a sound economic decision.
For families in the situation where they must hire outside assistance to help an elderly love one bathe, the calculation is fairly straightforward. Let’s assume an individual needs to bath 5 times per week. Family members can provide assistance on both days of the weekend which means on 3 weekdays outside assistance is required for approximately 1 hour/day, (although realistically, one cannot hire home care assistance for just one hour) 3 hours/week, times the national average hourly rate for personal care ($20/hour) equals $60/week or $3,120/year. A walk-in tub made in the USA will cost you $6,500 on average. Using this math, we can see that should you be caring for a loved one at home for a period of two years or longer, the installation of a walk-in tub makes economic sense. If you look to the future and say this is a five year investment, then you would have paid $15,600 in home aide help, but if you had purchased a walk-in tub, you would have saved $9,100!
The other way we often seek aide for a loved one is looking into retirement or assisted living facilities. According to USA Today the average annual cost of assisted living is $91,250 which works out to be $456,250 over five years. If a walk-in tub can help to keep you at home, living your life, then you would be able to save around $84,00 the first year and $423,750 over five years. Having a walk-in tub could save you a huge amount of money.
The hospitalization costs from one fall could pay for 10 walk-in tubs.
By combining the statistics from a variety of different studies, we estimate the following. Each month there are approximately 12,000 falls experienced by American seniors in their bathrooms, one third of which are serious enough to warrant a hospital visit. The CDC finds the average hospitalization cost for a fall injury to be almost $35,000. Doing the math, we find that over $1.5B is spent annually on medical costs from bath related falls.
It is worth mentioning that this post strictly examines the walk-in tub decision from an economic perspective and that there are other factors that can and should be considered. Most important, of which, is the increased sense of self-reliance and dignity that is retained by being able to manage one’s own personal hygiene.
If you would like to be able to care for yourself again and not need an aide, or just to rest easy at night knowing your bathroom or the bathroom of a loved one is safer, Dr. Recommended Tubs would love to work with you to make sure you get the best service and the right tub for your home. Call today and ask us how you could save $1,200 off your walk-in tub purchase!