The home care industry’s biggest problem — turnover — is only getting worse. Already cited as the No. 1 challenge plaguing home care agencies across the country, the median caregiver turnover rate skyrocketed to 82% in 2018, according to this year’s Home Care Benchmarking Study by market research and education firm Home Care Pulse. That […]
While personal care is the smallest segment in Amedisys Inc.’s (Nasdaq: AMED) portfolio of service offerings, the home-based care powerhouse has lofty goals to expand its personal care services into as many as 47 additional states in the years to come. Medicare Advantage is serving as a catalyst for the growth. That’s according to comments […]
At-home care providers are often lauded for their ability to prevent re-hospitalizations and drive down health care costs by allowing older adults to safely age in their existing homes and communities. As it turns out, their services are having a much broader impact on the U.S. economy, especially when it comes to the real estate […]
Home Care owners and operators often identify the caregiver shortage as the No. 1 challenge facing the industry. Ana Preciado — who owns a Woodland, California-based Comfort Keepers — is no exception. Last year, Preciado’s franchise location had a caregiver turnover rate of 110%. “That means we turned over everyone we hired in the year,” […]
Federal watchdogs continue to ramp up oversight of home care companies for minimum wage and overtime pay violations, a Wednesday report from Bloomberg Law suggests. Meanwhile, caregiver registries are creating uncertainty as to whether they should be considered employers. Over the past few months, several home care companies across the U.S. have been met with […]
By 2029, nearly 8 million middle-income older Americans won’t be able to afford senior housing at today’s average market rates, new research shows. While the statistics have negative implications for the senior housing industry, they create opportunities for home-based care providers, whose services are often the least expensive option for seniors. The findings come from […]
As the aging population continues to grow, so does the need for home-based care services. But supply isn’t keeping up with demand when it comes to the caregivers required to provide those services, creating fierce competition for workers. To win over prospective employees, at-home care providers must differentiate themselves. For BrightSpring Health Services, that means […]
An initiative by Humana (NYSE: HUM) that addresses social determinants of health posted positive results in five of seven target communities in 2018. On average, Humana Medicare Advantage (MA) members in participating communities saw a 2.7% reduction in “unhealthy days” experienced in 2018, according to the insurer’s 2019 Bold Goal progress report. Unhealthy days are […]
Since co-founding Executive Care with his wife Mila 15 years ago, CEO Lenny Verkholglaz has led the Hackensack, New Jersey-based home health care franchise toward consistent growth in an industry that is grappling with how to recruit and retain home care workers. Today, the private-pay in-home care company has over 20 locations across more than […]
As the health care industry continues to move toward value-based payment, at-home care providers have more opportunity to shine than ever before — with players across the continuum taking notice. Leveraging unique data and capitalizing on differentiators are key to catching the attention of potential partners, experts say. In 2018, mergers and acquisitions within the […]