How Big is the Home Healthcare Industry?
As the population continues to age, in home care and in home healthcare industry services will continue to grow
The U.S. home healthcare services market is expected to grow from USD 90.12 billion in 2021 to USD 146.61 billion in 2028. The industry’s growth is being driven by two factors: the rapid increase in the number of older Americans and the pressures on the overall health care industry to meet the needs of this growing population in a cost-effective way.
Our Revolutionary Role in the Home Health Care Industry
Shifting patients to the private-pay home health care model doesn’t hurt the quality of care. BrightStar Care® franchisees consistently earn accreditation from The Joint Commission – the same group that accredits world-renowned institutions like the Mayo Clinic and Cleveland Clinic.
The Joint Commission has recognized BrightStar Care as an Enterprise Champion for Quality for ten consecutive years (2013-2022) in recognition of our ongoing efforts to help franchisees deliver the highest level of care. This recognition is unprecedented in the home health care franchise industry.
By providing high-quality care at a lower cost in a more comfortable setting for patients, BrightStar Care is positioned as an ideal partner for large health care organizations looking for a home health care provider they can trust. We already have more than 100 National Account partners who drive referrals to our franchisees, and that number continues to grow.
Regulatory changes are having a positive impact on the home health care industry, as health care providers work to deliver quality care at lower costs. This means keeping patients out of the hospital and in their homes whenever possible, providing the level of care patients need in a more comfortable place, and minimizing the costs that rack up when a patient spends 24 hours a day in a hospital room even if they only need two hours of care per day.
The home health care industry has been reducing costs for years due to the shift from long-term hospital stays to home health care. Skilled home health care is an efficient way to provide the services patients need to improve their health without the need for extended or return hospital visits. Regulations passed in the years since have brought increased pressure to reduce health care costs.
Meeting the Growing Demand for In-Home Care
According to the AARP, 9 out of 10 seniors want to stay in their homes for as long as they can. The census bureau projects that there will be 56 million Americans over the age of 65 by 2020, including 7 million over 85. By 2050, those numbers are expected to reach 84 million for people over 65 and 19 million for people over 85.
BrightStar Care and the home health care industry have been expanding to help fill the gaps left by institutional care and keep seniors in their own homes for as long as possible.