But while it challenges the limitations that traditional health care institutions have in providing long-term, high-quality care for the aging population, it’s also introducing opportunities for entrepreneurs to be part of the solution by running businesses that bring care and support to where seniors prefer it — the home.
In the US, the number of citizens over the age of 65 was more than 12% of the total population as of 2014. At the same time, the Home Care Association of America (HCAA) predicts that people aged 65 or older will grow from 84 million today to over 56m in 2020 and to over 84m in 2050. Given this steady growth in aged population, more Americans are requiring care than ever before. The HCAA predicts that 70% of adults aged 65+ will need assistance at some point, with most needing that assistance at home.
In-home care providers have the opportunity to create lasting partnerships with hospitals to improve the standard of care for people suffering from these chronic conditions and provide relief for their families who feel overwhelmed by the demands of caring for a loved one with a challenging condition.
Home care service businesses address a large need: providing skilled and compassionate medical care for the ever-increasing aging population in the U.S. According to data from the U.S. Census Bureau, about 19.2m Americans were 75 or older in 2012. By 2020, the number is expected to jump to about 23.2m.
More than 130m Americans have chronic diseases that require ongoing treatment, and they regularly turn to hospital emergency rooms for care. Data from the Centers for Disease Control and Prevention highlighted the fact that 43% of all hospital admissions begin with a visit to the ER. As a result, both hospitals and patients face major hardships dealing with this trend. With repeat visits and extended stays, aging Americans who consistently turn to the ER for treatment face significant financial and emotional duress.
Meanwhile, return trips (readmissions) impact hospitals, too. The Affordable Care Act pressures these health care institutions to reduce the number of repeat patients who seek treatment for a single ailment. Hospitals that have high rates of readmissions face reduced payments from Medicare. To improve quality of care and reduce the likelihood of readmissions, many hospitals actively seek partnerships with high-quality, accredited home care service providers who offer condition-specific transitional care.
Home health care providers play an increasingly critical role to ensure older adults get the care and companionship they want and need. The Home Care Pulse 2014 Private Duty Benchmarking Study found the home care industry has grown nearly 74% over the past five years. For entrepreneurs seeking to invest in this industry, a medical background is not necessary. In-home care franchise models provide a blueprint of operational, sales, and clinical success.
BrightStar Care is the recognized leader in the home health care franchise industry, providing a proven business model, infrastructure, training, and ongoing support necessary to help franchisees launch and run successful home-care businesses. Most home care companies limit their service offerings to companion care for seniors. BrightStar Care provides the full range of in-home care services from meal prep and light housekeeping to medication management and infusion. The ability to offer a spectrum of care services that competitors can’t, provide evidence-based clinical programs, feature Registered Nurse Director of Nursing oversight on every case, pursue and attain the same accreditation as the country’s best hospitals, and partner with National Accounts help BrightStar Care franchisees achieve the highest annual revenue among all other home care franchises.
It is part of our proven operational system to deliver “A Higher Standard of Care” and to help seniors maintain the active, independent lifestyle they desire and deserve. The Joint Commission, the oldest and largest nationally recognized health care quality standards commission, has recognized BrightStar Care franchisees repeatedly as one of the premier providers of quality home care in America. The Joint Commission also recently awarded BrightStar Care with their Enterprise Champion for Quality award for the fourth consecutive year, the sole recipient of this award for four consecutive years.
BrightStar Care is a full-service home care franchise that provides both medical and non-medical care for seniors, with more than 300 locations in the United States and Canada. To learn more visit franchise.brightstarcare.com/international or email Anthony Padulo at Anthony.padulo@brightstarcare.com.
