We know that home care and hospice is a huge industry sector, and has a major economic impact on our country. There are over 11,500 certified home health agencies, over 4,500 hospices, and over 19,000 private duty home care companies in our country. What economic impact do they have?
The Pennsylvania Homecare Association commissioned a study to examine the economic impact of homecare and hospice on the commonwealth of PA. Here are some interesting data that was reported in the study:
- The industry contributed $11.2 billion in direct economic impact, and $10.5 billion in indirect impact
- The economic impact of homecare and hospice was just slightly lower than the nursing home industry – $21.7 billion versus $23.5 billion
- Homecare and hospice provided 25% more jobs that nursing homes
- Homecare aide and personal care aide jobs are expected to grow by 70% in the next seven years – the fsatest growing job sector in the country
- Homecare and hospice generated more than $925 million in state and local taxes in PA in 2012.
Each of us can be proud of what homecare and hospice contributes to our local and state economies, and the positive impact we have on the individuals, the families, and the communities in which we live.
For a complete look at the results of this study, see Impact of Homecare and Hospice Industry on Pennsylvania’s Economy.