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Extending and Enhancing Home Life for Seniors
Health Care Profiler 2015
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A Growth Industry The $69-billion US home health care industry consists of approximately 30,000 service locations, with approximately 50% of total revenues coming from traditional home care; 21%, home hospice care; and 12%, home nursing care. The home health care industry appears to be rebounding from little or no recent growth, as three of the largest providers – Amedisys, Almost Family and LHC Group – reported better-than- expected Q financial performance. Another key metric signaling new growth in home health care is the 9.3% increase in the number of home care workers during early and an increase in hospice care from 47.5% for to 50.6% for the first part of 2015. MEDIACENTER
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Waiting for the Boomers
Medicare-eligible seniors 80 years of age and older received a disproportionate amount of home health services from 2010 through 2013, which caused flat growth of the industry, and created a demographic gap until Baby Boomers reach this age. Home health care services’ share of the broader industry’s revenues peaked at $ billion during 2010 and declined and remained flat for 2011 at $18.55 billion; 2012, $ billion; and 2013, $18.12 billion. The number of home health care patients increased significantly from 3.46 million during to 3.86 million for 2010, or 11.6%, but have only increased another 1.8% from to 2013’s 3.93 million. MEDIACENTER
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Keep Your Eyes on the Franchise
In Franchise Business Review’s Fall Emerging Franchises Report, in-home senior care had four franchises in the 35 listed and three in the top 10: Qualicare Family Homecare, FirstLight HomeCare and Amada Senior Care. A FranchiseKnowHow and FranchiseGrade.com report revealed that there was a net growth of 1,757 home health care franchise locations from through 2013. The report cited a number of factors leading to such a significant increase in home health care franchises, including operating from a home, software and other support that reduces the required personnel and a low initial investment. MEDIACENTER
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Technology and Home Health Care
In a joint program, Apple and IBM will distribute iPads to 4 to 5 million seniors in Japan by A similar program is planned for the US. Seniors will learn how to use apps to manage their health and home to remain in their homes longer. A new study from Phillips found that 63% of family caregivers think their care recipients would be open to learning how to use technology (computers, smartphones and tablets), to support their care and provide a new activity. “Home health hubs,” which are placed in the home to gather, store and share data from home monitoring equipment and wearable devices, are forecast to increase from 150,000 shipped units during 2014 to 1.6 million by 2020. MEDIACENTER
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Finding New Ways to Care
Mergers and acquisitions have been a part of the home health care industry for many years, but now many of the largest skilled nursing and assisted living facilities are acquiring home health care companies to increase their vertical services. With more seniors expected to age in their homes, non-traditional companies are entering the industry. Amazon Home Services, for example, will help consumers find vetted and insured handymen to perform in-home tasks for seniors. According to the 2015 U.S. Trust “Insights on Wealth and Worth” survey, approximately 40% of affluent Americans said they don’t have the financial assets to pay for in-home care as they age, although 32% expect to receive home health care. MEDIACENTER
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Advertising Strategies
With seniors having the largest percentage of TV viewership, home health care service agencies will find this the best medium to reach Baby Boomer for their current and future needs as well as the needs of their elderly parents. Home health care businesses can use TV in conjunction with social media to promote a free home health care assessment to show seniors and their families how seniors can make their homes safer and more enjoyable to remain in their homes longer. Home health care agencies can air TV spots that target the children (45 to 60 years of age) of seniors and explain the signs of aging that indicate parents and other older relatives may require home health care services. MEDIACENTER
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Social Media Strategies
Home health care service agencies can use social media to provide seniors and their family members with a wealth of information that will help them understand what services are available and when seniors need those services. With video one of the strongest social media engagement tools, home health care agencies should plan regular uploads of videos that feature home health care professionals and testimonials from patients and their family members. Home health care agencies should consider providing social media training for its professionals, so they can teach patients how to use social media, reducing the feelings of isolation and being disconnected from the larger world as they age. MEDIACENTER
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