The Future of the Home care Industry

The Baby Boomer generation is aging quickly. It is expected that this generation will contribute to a 75 percent increase in the number of Americans needing geriatric care. A report on Aging in the United States, published by the Population Reference Bureau, states that “the current growth of the population ages 65 and older is one of the most significant demographic trends in the history of the United States.”

The report also underscores a crucial point. It states that since Baby Boomers have had a high divorce rate and fewer children, it’s more likely that many of them will live alone without any family support.  It’s, therefore, no surprise that the Bureau of Labor Statistics projects that there will be a 69 percent growth of home health positions through to 2020.

Now is the time to step into the home care industry. The demand is great, and the revenue is high. The National Association of Home Care and Hospices reported that home health care providers were projected to bring in $72.2 billion in revenue in 2009. IBIS World further reported that industry revenue was $93 billion in 2017. It’ll only continue to grow!

Statistia reports that there were 12,149 Medicare home health agencies in 2015. About 86.7 percent of these agencies weren’t facility based. Based on the industry’s growth, the number of home heath agencies should increase to about 15,000 or more this year.  More people are realizing the revenue potential of the industry and are trying to get their piece of the pie.

The home care industry needs a consistent stream of reliable and efficient medical and non-medical home care providers. It needs people who are passionate about geriatric care and want to make a difference in people’s lives. It needs you!

Creating your own home care agency doesn’t need to be a daunting task. The team at Own a Home Care Agency will guide you through everything needed to make your home care agency succeed. We will help you:

• Create a strong marketing framework to get new customers and keep existing customers
• Manage billing, payroll and taxes
• Create a system to hire and train employees
• Incorporate the right technological tools to make your business thrive

The home care industry is exciting! We at Own A Home Care Agency expect nothing but tremendous growth and success for those who create strong home care businesses. Our aim is to help you achieve the best success possible. Contact us today so that we can help you get started.