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Our first class graduated in August 2009.
Understanding the In-home health care industry in America
The aging of the population, baby boomer retirement trends, poor health, illness, and substandard nutrition are all key factors in increasing need that Americans will have for in-home care services. Healthcare providers, insurance companies, and social welfare agencies all attest to the cost effectiveness and health benefits of in-home wellness care, as compared to sick visits or nursing home placement. According to the Government Accounting Office the need for long-term in-home care will have a major impact on the way that baby boomers approach retirement.
There were more than 9 million long term care policies purchased in the USA by 2002 with multiple millions more needed in order to accommodate the needs of the aging population (GAO-06-718, June 2006).
Key demographic facts:
- The elderly, 65+ population increased 11-fold from 1900-1994, outpacing the under 65 population, which grew only 3-fold.
- Elderly people prefer to receive care in their own homes rather than moving nursing homes, assisted living or other facilities.
- In the State of South Carolina, it costs more than five (5) times more to keep care for a person in a nursing home than it does in the home.
- Currently, according to 2007 SC statistics, the number of persons receiving care in their homes through Medicaid waiver care is slightly more, 11,000 and some, than those in institutions. FY 2009 projections call for more than 13,000 community based Medicaid slots and 11,500 nursing facility beds.
- The number of centenarians, persons 100 years or older, has increased to more than 50,000, Ÿ of which are women.
- The elderly population is expected to reach more than 80 million by 2050.
- According to some reports, the nation will need well in excess of 10,000 adult day care centers to accommodate the growing number of elderly citizens.
- 75% of persons born after WWII are now facing retirement.
- Large numbers of children live more than one hundred miles away from their aging parents, requiring them to have some type of at-home or institutional care for their parents.
- Entrepreneur Magazine has deemed the home health care business to be hottest franchising idea in the country (2004).
- The South Carolina Low Country is a haven for many retirees from other parts of the country.
- Personal/home care attendants comprise the fastest-growing segment of the American workforce (2005). (Bureau of Labor Statistics)
- The cost of caring for a loved one in a nursing facility averages more than $6000.00 per month nationally.