A century ago, it was commonplace for a person who was ill to be treated in their home. It should come as no surprise to you that in-home health care is back by popular demand! Hospitals and nursing homes are no longer the only options. Skilled homecare is poised to play a key role in the coming years as our seniors start to require more care. Skilled in-home healthcare has shown to be not only what Americans want, but it is also less expensive.
Over the next 15 years, the entire Baby Boomer generation will pass the age of 65. When that happens, there will be nearly 84 million seniors living in America, nearly one-fifth of our national population. And with an aging population inevitably comes an increasing demand for skilled healthcare, which is why the industry is expecting a massive 8% growth over the next four years.
One reason to be optimistic about the future of skilled in-home healthcare is that it’s anticipated to contain the growing cost of care. This is partially due to the increased compliance associated with skilled in-home care, and partially due to a reduction in the number of emergency room visits and hospitalizations needed by those who have caregivers at home.
According to Medicaid, skilled in-home healthcare services are also less costly than inpatient facilities. That’s part of the reason why Medicare is soon to add value-based reimbursements to help facilitate more skilled in-home health care options, which will reward the care providers who are able to successfully improve patient outcomes.
It’s become common in America for younger family members to take care of their elders, but as our population ages, the ratio of family members needing care to possible caregivers is getting worse. In 2006, nearly a quarter of Americans provided care for someone over the age of 50, and that was before the Baby Boomer generation had even begun to retire.
America is about to undergo a drastic increase in demand for Skilled in-home care. For seniors, that’s great news. Most seniors want to live in their home as long as possible, for their comfort, their family, and for their independence. And with the growth of the skilled in-home healthcare industry, millions of seniors will gain access to the assistance they need and deserve.