Market Research on United State Home Healthcare Market

Goals

The market size, drivers of growth, growth by age segments, overall projected growth, utilization categories, average revenue per employee & customer, behavioral data, referral sources data & trends, payment model, and data how the risk is shared by the healthcare providers on home healthcare in the US.
Market and Growth trends
Projected growth in next 3-5 years
Drivers of growth
Growth by age segments (60-65, 65-75,75-85,85+)
Utilization of services (what types of health care services are being provided at home and what types of medical diagnoses/conditions/diseases cause people to start home health care)
Top 5 utilization categories (what services being provided at home) and any future projections
What disease categories are driving most utilization
Per 1000 patient usage (any segmentation would be helpful if it exists by different types of patients), or how many total people utilizing home health
How much does a patient utilize home care services after first referral, and at what rate?
Avg. revenue per employee
Avg. revenue per customer
Behavioral data (for senior population - qualitative or quantitative information)
How seniors think about home care
what are the biggest concerns and desires
unmet needs
decision maker and considerations (consumer, family member, discharge planner
Referral sources data and trends (who sends the patients to home healthcare -- hospital system, nursing home, skilled nursing facility, doctors)
From hospital, payers
Self referrals
Any information that accounts for the difference in rate hospital refer their patients to home health care after discharge from the hospital -- e.g.,m Why do some hospitals refer at 7% of discharges whereas there are others 30% of discharges (what are the drivers?)
Any information on leakage/keepage? (i.e., how many customers does typically home care company lose every year?)
Avg. revenue per referral if available
Payment model
Can you find any information on home healthcare being provided in a risk model (where they share partial or full risk for the cost of services with the insurance company or another healthcare entity like a hospital system or doctor group, sometimes this is called an 'ACO')
If so, any information on % or # of patients, agencies, revenue, etc. that's under a risk model
What services help the most when taking care of patients in this model?
Any information on the most and least profitable primary diagnoses of patients in these risk arrangements? Is there any information on how the risk is shared by the healthcare providers or revenue or
Any case studies or citations for
Qualitative or quantitative information on how
Revenue and margins from top 5 primary diagnosis? least profitable

Early Findings

  • The US home healthcare market is projected to grow about "7% annually from $103 billion in 2018 to $173 billion by 2026 outpacing growth in all other care types, including hospital care (+5.3% annually) and physician services (+5.6% annually) and providers must figure out how to tap into the burgeoning space."
  • There are roughly 427,000 businesses employing over 2 million people in the US home healthcare market.
  • The factors that have fostered the growth of the US home healthcare market include the growth of the country's aging population, medical advancement, the increased physician acceptance of home healthcare, and a "movement toward cost-efficient treatment options from public and private payers have all fostered industry growth."
  • The products and service that make up the makeup the home healthcare market include traditional home healthcare and home nursing care, home hospice, homemaker & personal services, home therapy services, and Other.

MAJOR HOME HEALTHCARE MARKET DRIVERS

  • Aging Baby Boomers: According to the US Census Bureau, by 2035, "people over the age of 65 will outnumber those under 18." This aging population "provides healthcare organizations (HCOs) with new opportunities to serve them as an expanding market particularly through home care solutions."
  • Advances in in-home technology: Future advances in home health technology "have the potential not only to facilitate the role of home care within the overall healthcare system, but also to help foster community-based independence for individuals."
  • Payment Reform: The US healthcare system is going through a series of significant changes in how care is paid for. There is a transition from "volume under fee-for-service (FFS) to outcomes under value-based care." This shift has "generated strong motivation for providers to experiment with new methods of controlling costs." Applications of this model have already "achieved savings of 30 percent and more per admission, while delivering equivalent outcomes and fewer complications than traditional hospital care, according to Commonwealth."

PROPRIETARY RESEARCH AVAILABLE

  • We found some proprietary research from one of our data partners which may be helpful:
  • First Report: Home Healthcare: United States (Freedonia Focus Reports, $750)
  • Second Report: US Home Healthcare And Residential Nursing Care Services Market Report (The Business Research Company, $1000).
  • If you'd like us to purchase either report (or both) on your behalf, just let us know!

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