With the increasing life expectancy in Russia, the number of elderly patients with previously manifested mental disorders is also increasing, adding to the burden from first-onset mental disorders occurring at a late age (e.g., cerebrovascular disease associated and stress-related affective states), and neuropsychiatric disorders of the elderly (e.g., dementia). A 2002 study demonstrated failings of the Russian mental health care system for the elderly with respect to (i) the absence of a unified psychogeriatric service and (ii) the poor availability of mental health outpatient care, which is needed by 42.5%, but delivered to <10% of the elderly. In most regions of Russia, psychiatric care for the elderly remains integrated into the general psychiatric care for the adult population. Since that report, reforms for psychogeriatric services have been implemented in some densely populated regions, with the creation of (i) specialized psychogeriatric inpatient units within general psychiatric hospitals, (ii) neuropsychiatric nursing homes, and (iii) outpatient psychogeriatric care offices. These new specialized mental health care units for the elderly and their caregivers represent the new standard for organizational models of liaison psychogeriatric care based on (i) social service centers; (ii) offices for psychogeriatric care and psychological support in the district outpatient clinics; (iii) psychogeriatric day-clinics within psychoneurological dispensaries or psychiatric hospitals, as well as inpatient forms of care within (iv) somatogeriatric inpatient units of psychiatric inpatient hospitals, together comprising 10% of the total psychiatric bed capacity; and also (v) psychiatric units within geriatric inpatient hospitals. The new forms of psychogeriatric services that are accommodating those with limited mobility and cognitive impairments have been intensively developed within private, public, and private-public nursing homes, with the provision of in-house medical care as prescribed by a family doctor, psychiatrist, or gerontologist. Highly qualified psychiatric care including diagnostics, treatment, and rehabilitation for patients with mild cognitive impairment, dementia, late-onset depression, and psychoses is offered by various research institutions, university clinics and Alzheimer’s disease centers across the country. In Moscow, the innovative “clinic of memory” introduced in 2015 is a fundamentally new approach to the management of prevention, treatment, and complex rehabilitation programs, including neurocognitive training, cognitive stimulation therapy, cognitive behavioral therapy, and others, for the elderly at high risk of developing dementia. In 2020, seven “memory clinics” based on this model are now functioning successfully in different districts of the Russian capital.