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Research Outline
Prepared for Jay M. | Delivered January 8, 2020
A Place for Mom Profile
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Goals
The goal is to find out more information about how A Place for Mom works, what their initiatives and financial health looks like, and what US senior care trends are arising in the near future.
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Early Findings
A Place for Mom
A Place for Mom, founded in
2000
, offers senior care advisors across the
United States and Canada
. They work with over
18,500
senior care providers. These advisors help people find the best place and care for their loved ones, depending on their individual circumstances.
The advisors can
recommend
the best care options for each situation, as well as schedule tours and work with different care facilities and programs to transition people into their new care situation.
The company prides itself in providing advisors that have
personal experience
in the senior care industry, with most of their advisors coming from senior nursing backgrounds,
r
e
a
l
t
o
r
s
specializing in working with seniors, elder law specialists, and healthcare organization backgrounds.
A Place for Mom
does not charge
clients for their advising services. According to the company, their
partners
(such as senior living homes) pay them only if a resident they have advised moves in or uses their services.
A Place for Mom was
acquired
by companies Silver Lake and General Atlantic in 2017.
The company is privately owned and has approximately
$55 million
in revenue.
US Senior Care Industry
The US home care market is expected to grow to
$225 billion
by 2024.
The US elder care services market as a whole was worth approximately
$400 billion
in 2018.
The US population of people over the age of 65 will grow from
46 million
in 2016 to over
98 million
by 2060.
This growth is expected to create even more care shortages such as a shortage of
500,000
home health aides and
100,000
nursing assistants by 2025.
The rise of
telehealth
is reaching elder care and allowing providers to reach seniors in rural areas to provide care.
Voice recognition devices
, such as the Amazon Echo or Google Home are being used more in senior care facilities and by home health providers.
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