The homecare industry is facing complex challenges that are creating opportunities for growth and improvement


Overview Of The Homecare Agency Market

  • 2022 survey of homecare agencies found the following challenges:


    • Retention 36%

    • Recruiting 33%

    • Training 24%

  • 45% of agencies are prioritizing initiatives to address staffing shortages

  • 64% caregiver turnover rate has remained steady during The Great Resignation

  • In 2022, home health agencies offered the following employee benefits:


    • Medical insurance 46%

    • Short-term disability insurance 40%

    • Life insurance 38%

    • Continuing education programs 37%

    • Long-term disability insurance 32%

    • 401(k)/403(b)/defined contribution plan 27%

    • Company provides vehicle 21%

    • Tuition reimbursement 20%

    • Wellness programs 19%

    • Professional association dues 18%

    • Mileage/maintenance 10%

  • 76% client/patient turnover rate at a five-year high

  • 18% readmission rate in 2022 — down from 22% im 2021


Many patients prefer urgent care centers over emergency departments and visits to their primary care physician when experiencing particular medical challenges


The Rise Of Urgent Care Centers

  • Growth drivers in urgent care center market:


    • Rise in chronic disease worldwide


      • 1.71 billion people have musculoskeletal conditions


        • Fractures: 436 million 

        • Injuries: 305 million

      • 550 million people have heart and circulatory disease


        • 290 million women

        • 260 million men

    • Growing burden of emergency conditions, such as accidents and sports injuries


      • In 2020:


        • 426,000 bicycling injuries

        • 378,0000 exercise injuries

        • 112,300 off-highway vehicle injuries

    • Growing geriatric population


      • Quadruple growth in Americans ages 65 and older


        • 1900: 4.1%, or 3.1 million

        • 2019: 16%, or 54.1 million

    • Hospitals entering the urgent care market

  • 16.4% growth in US urgent care centers between 2021 and 2022

  • Benefits of urgent care centers:


    • Affordability

    • Transparency

    • Efficiency in health delivery

    • Accessibility


Busy professionals, younger generations, and tech-savvy patients are choosing telehealth over standard doctors’ visits


The Telemedicine Market

  • American telehealth users planning to use telehealth services in the next 12 months:


    • Gen Z (18-24): 73%

    • Millennials (25-40): 83%

    • Gen X (41-56): 68%

    • Baby Boomers (57-75): 51%

  • 90% of the top healthcare companies are developing or implementing telemedicine technology

  • 64% of telemedicine programs offer remote monitoring

  • 91% of health outcomes are as good or better via telehealth

  • 64% of Americans are willing to have a video visit with a doctor

Factors Driving The Telemedicine Market

  • Growth in healthcare consumerism

  • Consumer expectations of convenience

  • Shift to revenue models that reward value

  • Increased access to mobile Internet access

Barriers To Telemedicine

  • Access/cost for technology/broadband

  • Licensure

  • Limited privacy and security concerns

  • Resistance to change

  • Legal/regulatory questions

  • Digital literacy/training

Benefits Of Telemedicine

  • Increased access to healthcare

  • Improved healthcare outcomes

  • Reduced costs

  • Fewer in-person consultations


Concierge health care, which refers to a private form of practice where the patients are charged an out-of-pocket retainer fee for ongoing doctor’s services, is growing in popularity


The Concierge Medicine Market

  • US Concierge medicine market worth $6.1 billion in 2022


    • Revenue is projected to reach $13.3 billion in 2030

  • Medical services may include:


    • Office visits

    • Round-the-clock access to physicians

    • Lab tests

    • House calls

    • Care while traveling

    • Referrals to specialists

    • Preventative care

    • Regular health assessment

  • Factors driving growth:


    • Demand for convenience care

    • Higher career satisfaction among concierge physicians

    • Advantages of concierge medicine for patients:


      • No time spent in the waiting room

      • Customized care

      • Financial transparency

      • Higher quality care

      • Same day appointments

      • Longer exam times

      • Home delivery of medication


Healthcare is changing and patients have more options than ever to receive the medical care they not only need but want


Are you keeping up with the pace?


Sources:

https://www.homecaremag.com/2022-salary-staffing-survey 

https://smartcaresoftware.com/news/10-emerging-trends-in-home-care-in-2022/ 

https://www.mordorintelligence.com/industry-reports/urgent-care-center-market 

https://acl.gov/aging-and-disability-in-america/data-and-research/projected-future-growth-older-population 

https://www.grandviewresearch.com/industry-analysis/us-urgent-care-market 

https://ahihealth.org/wp-content/uploads/2021/09/Telehealth-in-2022-A-Solomon-1.pdf 

https://www.acuitykp.com/blog/telemedicine-trends-in-2022/ 

https://www.insiderintelligence.com/charts/telehealth-user-statistics-forecast/ 

https://www.grandviewresearch.com/industry-analysis/us-concierge-medicine-market-report 

https://knowabouthealth.com/benefits-of-concierge-medicine/ 

https://www.aarp.org/health/conditions-treatments/info-2019/what-to-know-about-concierge-medicine.html 

The medical and healthcare market has been booming, especially along the east coast. Check out more detail as to what sectors of the healthcare industry are growing in the infographic below: 

Purchase the package of domain and phone numbers for $2 million

Purchase the package of domain and phone numbers