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Memory care ALSO is essentially a "nursing home" as you would traditionally think of it. It is staffed up to care for those who need a lot of guidance and hands-on care. Often MC, unlike nursing homes, are self-pay. You stay while you can afford it and move on to nursing homes which more traditionally accept Medicaid patients. They aren't as "swank" often, but the care levels are similar. MCs are always "locked" facility in that many of their patients no longer understand they aren't safe to leave premises. They are less likely to have the "room of one's own", and can keep fewer of their own possessions in their rooms.
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Memory Care is a secure facility/residence for people whose dementia prevents them from safely living in a regular environment. So for example exit door are locked to keep them from wandering unsafely into the street and getting lost, their medications are distributed by staff to prevent them from taking too much or too little, all meals are provided on a schedule to prevent mindlessly eating all day or forgetting to eat, and to prevent cooking accidents such as leaving a stove on.
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