Labor: The #1 Challenge For Homecare Executives
Approximately 3.5 million Medicare beneficiaries received homecare in 2015, and the program spent about $18.1 billion on home health care services. Over 12,300 agencies participated in Medicare that same year.1
According to the Occupational Outlook Handbook,2 overall employment of home health aides and personal care aides is projected to grow 41 percent from 2016 to 2026, much faster than the average for all occupations. The US Bureau of Labor Statistics projects 19% growth in RN jobs from 2012-2022.3
As the baby-boom generation ages and the elderly population grows, the demand for the services of home health aides and personal care aides will continue to increase. Why is it home care executives reported labor concerns as their #1 challenge in 2017 despite the industry employment growth?
1 MedPAC Report March 2017: http://www.medpac.gov/docs/default-source/reports/mar17_medpac_ch9.pdf?sfvrsn=0
2 Occupational Outlook Handbook: http://www.bls.gov/ooh/healthcare/home-health-aides-and-personal-care-aides.htm - tab-6
3 US Bureau of Labor Statistics: http://www.bls.gov/opub/ted/2014/ted_20140127.htm