- home health and home care are different. The two terms are sometimes used interchangeably but it is important to understand that home health is usually more skilled care. For example, at PRN Home Health and Therapy, we offer physical, occupational, and speech therapy to patients in their homes. For nursing we provide skilled care and treatments a lay person couldn’t do. Home care is geared towards help preforming every day tasks like showering.
- In 2020, over 3 million patients received Home Healthcare (1). This number is only growing!
- The Home Healthcare market is projected to grow at about 7.5% a year from 2022 to 2030. The growth is due to a variety of reasons. According to the last census about 54 million adults in the US are 65 or older, that’s 16.5% (2)
- The market for Home healthcare is made up of many small companies. Since the demand for home healthcare is constantly going up, demand is high and barriers to enter the industry are fairly low. Technology advances like telehealth and wearable technology have also supported the growth of home health. (3)
- According to the Bureau of labor Statistics the home health industry is projected to add 1.2 million jobs between 2018 and 2028
Sources
- cdc.gov/nchs/fastats/home-health-care.html
- https://www.grandviewresearch.com/industry-analysis/us-home-healthcare-market-report
- https://www.ibisworld.com/industry-statistics/number-of-businesses/home-care-providers-united-states/