# Technology-Enabled Financial Planning for Caregivers and Clients with Reduced Capacity

> **NIH NIH R44** · BRIDGESOURCE MEDICAL CORPORATION · 2022 · $979,528

## Abstract

Abstract
Caregivers of older adults with ADRD are the largest unpaid, and untrained healthcare workforce in the
US, with family caregiving valued at $470 billion in 2013 (higher than total Medicaid spending for the
same year). The temptation to take advantage of an impaired loved one may be exacerbated by the
stress of taking over disorganized finances and absence of guidance. Lack of clinically guided financial
support can also remove financial control from the person suffering from ADRD prematurely. The
decision to transfer control is typically made by the untrained caregiver acting on instincts, not by a
trained clinician (who does not typically advise on finances) or financial advisor (who does not have
clinical training). Each year, around 15% of U.S. seniors are targeted by financial exploitation resulting in
nearly $17 billion in losses annually. In over a third of these cases, $6.6 billion is lost to theft enabled by
a trusting relationship with a caregiver (called elder financial abuse) annually, and even this may be an
under-estimation. AARP describes an average loss of $120k per victim, almost what an average 50+
household has in savings. The stress and isolation of unpaid caregiver workload may lead to resentment
and increased risk of financial abuse. There is a need for increased communication, education, and a
clinically validated methodology for determining when it is necessary to begin transfer of control over
finances. BSM proposes to develop a one-stop-shop technology enabled solution to address these three
problems usable by a financial planner, older adult client, and caregiver.

## Key facts

- **NIH application ID:** 10671993
- **Project number:** 4R44AG074121-02
- **Recipient organization:** BRIDGESOURCE MEDICAL CORPORATION
- **Principal Investigator:** John E Porterfield
- **Activity code:** R44 (R01, R21, SBIR, etc.)
- **Funding institute:** NIH
- **Fiscal year:** 2022
- **Award amount:** $979,528
- **Award type:** 4N
- **Project period:** 2021-09-30 → 2024-07-31

## Primary source

NIH RePORTER: https://reporter.nih.gov/project-details/10671993

## Citation

> US National Institutes of Health, RePORTER application 10671993, Technology-Enabled Financial Planning for Caregivers and Clients with Reduced Capacity (4R44AG074121-02). Retrieved via AI Analytics 2026-05-25 from https://api.ai-analytics.org/grant/nih/10671993. Licensed CC0.

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