A Place for Mom Profile
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.
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, realtors 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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