The US home healthcare market size was valued at USD 142.9 billion in 2022. It is anticipated to expand at a compound annual growth rate (CAGR) of 7.48%. As such it's one of the fastest growing industries in America. Many franchises and individual businesses are springing up coast to coast.
Home health care agencies provide the highest quality care and the best patient satisfaction. From remote monitoring systems to personalized care plans tailored to each individual’s needs, these agencies strive to ensure that their clients receive the highest quality of care.
However, it's one of the hardest business opportunities to grasp. The home healthcare industry, including house calls home care, is volatile in part because of its rapid growth. It's also undergoing so many fundamental changes at once. As a consequence, many challenges are expected to rock the industry. Some of these challenges may be carried over from previous years.
Understanding these challenges will help you overcome them. Thus, ensure that people who depend on home healthcare services continue to receive quality care.
Below we share the 5 most common roadblocks home healthcare agencies have to deal with.
The biggest challenge for the home health industry is the disproportion between the demand for services and the lack of qualified and skilled caregivers. According to statistics from the US Department of Health and Human Services, the U.S. population ages rapidly and approximately 10,000 Americans turn 65 every day. The idea of home healthcare becomes more appealing as people age. This, in turn, increases demand.
With an increasing number of patients, caregivers are forced to work long hours with minimal breaks, leading to caregiver burnout and exhaustion. This can have serious implications on the quality of care that they provide, as well as their own mental and physical health. Home healthcare agencies need to find ways to reduce caregiver burnout by providing adequate staffing levels and ensuring that caregivers have access to the support they need.
Moreover, qualified caregivers may choose not to pursue a career in home health care, choosing instead to work in less stressful and higher-paying areas of the healthcare sector. These factors combined have left the home health industry in a position where it is unable to meet demand.
The home healthcare industry is also facing a challenge in the form of the ongoing and increasing fight over certification and classification. It may be comforting to believe that these home health aides have been trained by certified nurses or nurse aides. However, they are often just "regular people" who went through non-standard training programs created by their employers. Thus, there’s a lot of confusion about what these people can do.
Many home health agencies use misleading advertising. They create the impression of a medical expert in the home by marketing themselves as a home health care solution. In reality, the aide may only help the senior with their daily activities. For example, dressing, meal preparation, housekeeping, and medication reminders. As a result, it is crucial for families considering getting into senior living to research and understand the offered services for the well-being of their loved ones.
Some agencies hire nurses, or at least employ a floating nurse who visits clients a set number of times per week. The government and private sector have been pushed to create a standardization process and regulations to classify agencies.
In recent years, technology has revolutionized the home healthcare sector. Telemedicine systems enable patients to communicate with healthcare providers and caregivers without even having to leave their homes. These systems also reduce employee risk associated with traveling to the patient's homes. Remote health monitoring can improve patient outcomes, by alerting caregivers to changes in vital signs and condition.
These technological advancements and solutions can improve healthcare but they do not come without challenges. It can be expensive to implement such systems, especially for small home health agencies. The time and effort required to learn how to use the systems is also a burden on caregivers who are already overworked. As a result, many agencies are behind the curve in implementing tech-oriented systems.
Home Health Compare Star Rating is a major concern for many home health care agencies and it can change every quarter. It is an important metric that can have a huge impact on their ability to attract and retain patients. The star rating system evaluates the quality of care offered by home healthcare agencies. However, it can be difficult to keep up with the ever-changing criteria.
As such, home healthcare agencies need to understand the importance of the Home Health Compare Star Rating. They should look for a home healthcare solution to facilitate collaboration between providers. Such solutions can help improve patient care, outcomes, and star ratings, leading to a preferred provider status and higher star ratings.
Although insurance is available for home health care agencies to reduce risks in their work, workers need to understand the obstacles and challenges they may encounter. Being aware of these challenges, home healthcare agencies can manage risks proactively. Thus, provide accurate, compassionate, and safe home care to their patients.
