Approximately 3.5 million Medicare beneficiaries received home care in 2015, and the program spent about $18.1 billion on home healthcare 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 Boomer 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?
Homecare Executives Share Their Top Opportunities and Challenges
In March 2017, Change Healthcare asked home care executives to complete an Organization Opportunities and Challenges Executive Survey. The results of the survey found 61% of home care executives named retention and recruitment as their top issue, followed by declining reimbursement (51%), and cost containment (44%). Additional survey results of note include the topics of: Medicare Advantage, palliative care, staff education, information technology, and EHRs.
Interoperability and information sharing continue to be key concerns of home care executives. The 2017 Change Healthcare survey found 77% of home care executives use email and direct messaging versus 33% in 2014. The number of executives who expect to communicate by interfacing with a provider’s EHR rose significantly from 2014 to 2017.
Staying on top of today’s home care challenges and the insight of your peers can help your organization succeed.
Change Healthcare is inspiring a better healthcare system. Working alongside our customers and partners, we leverage our software and analytics, network solutions and technology-enabled services to help them improve efficiency, reduce costs, increase cash flow, and more effectively manage complex workflows. Together, we are accelerating the journey toward improved lives and healthier communities.
Sources:
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
Lisa Remington is widely recognized as one of the foremost futurists in the home care industry, focusing on healthcare trends and disruptive innovation. She serves as the president and publisher of the Remington Report magazine and is also the President of Remington’s Think Tank Strategy Institute. Lisa provides strategic advice and education to over 10,000 organizations, assisting them in developing transformative strategies for growth and their future implications. She closely monitors complex trends and forces of change to develop effective strategic approaches.
