Private Duty Home Care Market
Delivered September 19, 2019. Contributor: Benjamin H.
Goals
To understand the private duty home care (in-home care services) market by identifying major players, market fragmentation, factors (such as labor availability) influencing operations, and factors (such as typical margins) influencing financial health. This research is aimed at building a SWOT analysis; proprietary reports would also be helpful.
Early Findings
- The Centers for Medicare & Medicaid Services (CMS) announced in 2018 "that some non-skilled in-home care services" can now be offered as supplemental benefits under the Medicare Advantage (MA) program.
- According to Excel Health, about 35% of eligible Medicare beneficiaries are presently signed up for MA.
- Based on several estimates, the in-home care industry’s turnover rate ranges between 40% and 67%.
- Some avoid this high turnover rate by offering better benefits packages and providing career ladders for its caregivers.
- Research from Home Care Pulse suggests that hiring and training cost for a new caregiver is about $2,600.
- Several private-duty companies anticipate technology investments and increased integration with the health care system.
- In the past, people considered in-home care as a luxury. However, these services have now become a necessity.
- In addition to this public search, we scanned our proprietary research database of over 1 million sources and were unable to find any specific research reports that address your goals.
Proposed next steps:
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