Friday, May 23, 2014

The Home Healthcare Trend

America has an aging population.  This should come as no surprise, but the rate at which we are aging is quite telling. There are 40.4 million seniors in the U.S. which is 12% of the population. In 20 years, that number will total 70 million making up 20% of the population. If that isn’t telling enough did you know that every 13 seconds another person in the US turns 65? That is more than 10,000 people turning 65 everyday.  These stats paint the picture of an aging population that will need increased medical care.  Additionally people are living longer, lengthening the need of care.

This aging yet active demographic coupled with healthcare reform and cost saving measures are driving more care back into the home.  There is less overhead by treating in the home and many studies show patients respond better when in their own surroundings.  There are two types of homecare based on the level of skilled care needed. One is companion or non-medical.  This generally revolves around helping with daily activities like transportation. Complex care includes things like diabetes management, oxygen or infusion treatments, or physical therapy given in the home. The amount of home healthcare and personal care aids has grown to 1.3 million which is a 70% increase send 2010. The demand for home care will keep increasing as the population continues to age.

The question is what is your business doing to tackle this growth and be a resource for this growing demand.  Can you service these patients directly by expanding your offering or changing your delivery? Or can your business supply products to assist in home healthcare providers provide quality care?  If you are already in the home care market, what can you do differently to gain more share of the market. Challenge your teams to think outside the box and brainstorm new ideas.

How is your business using the home healthcare trend to grow? Comment below and share your thoughts.  The opportunity is there for the taking.    

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