What is the state of the home care industry in America?
After ten years of explosive growth, two years of the COVID pandemic, and twelve years of industry benchmarking, where are we now as an industry?
Some answers to that are found in a new report that was just published by the Home Care Association of America. State of Home Care: Industry at a Crossroads brings together a huge compilation of facts, data, and opinion about our industry, where it has been, where it is, and where it is going.
Published in February 2022, this report showcases data, industry challenges, and new policy priorities concerning the state of home care in the United States. Through this important report, HCAOA calls on home care industry leaders and policymakers to unite around initiatives that address the rapidly growing demand for care and to help Americans age in their own homes with comfort, safety and independence.
The COVID-19 pandemic put home care at the epicenter of a national discussion about the importance, safety and value of care for older Americans. From how and where people want to age, to who will care for us, to how we will pay for it, the future of America’s long-term care system hangs in the balance for millions of people and the workforce who provides the care they rely on at home.
Highlights from the Report
The report is organized into three sections:
- Home Care: A Sector Meeting the Needs of America’s Aging Society
- Sustainability of the Home Care Industry: Challenges for the Future of Care
- Home Care at a Crossroads: Policy Positions.
As I read through the report, there are a few things that I think are particularly important for Home Care Leaders to understand.
- Differentiating between Home Care, Home Health and Hospice
- Defining Home Care
- The Ever-increasing Need for Care at Home
- Who Uses Home Care
- The Absence of National Care Standards
- Industry Fragmentation
- Lack of Licensing across Half of the US
- Caregiver Shortage Prevents Industry Growth
- Current Payment Systems are not Suited for an Aging America
- Collecting, Evaluating, and Utilizing Data to Validate the Value of Home Care
- Embedding Home Care in the Healthcare Ecosystem
- Supporting Caregivers: Recruitment, Training, Career Pathing
- Financing Care in an Era of Rising Longevity
Looking Toward The Future
The information and data presented in this report paints a picture of an industry that has huge potential, yet is faced with some major issues that will affect us going forward. As leaders of home care companies, we need to come together to share ideas, solve problems, and support one another in growing companies that are better able to serve the needs for in-home care of older adults. The Home Care CEO Forum is delighted to be able to work closely with HCAOA and other industry organizations to continue research that will help us identify best practices, benchmarks, and innovations that will help us help our clients and our caregivers.
Download a Copy of the Report
If you would like to engage on ongoing dialogue about the issues facing the home care industry, we invite you to explore becoming a member of the Home Care CEO Forum.