By 2056, the number of Americans age 65 and older is estimated to exceed the U.S. population under the age of 18, according to the Centers for Disease Control and Prevention. Due to the aging of the population and the associated rise in demand for skilled nursing facilities (SNFs), researchers expect demand for SNF housing will outpace capacity. Many analysts believe home health services will be vital to address unmet need in the future. In addition to physical shortages, the majority of U.S. senior citizens report a desire to live out their lives in their own homes, according to a recent study.
While demand for home health services is growing, home health agencies face a number of pressures, including staff recruitment and retention, as well as increasing consolidation. A growing number of providers are looking to their suppliers for help in controlling costs and delivering quality care. One example of this is patient home delivery programs, where the distributor delivers the needed medical supplies to the patient’s home. By using this program, one provider was able to lower operational supply costs by 20% and reduce its formulary from 800 stock keeping units (SKUs) to less than 200.
To learn more check out HIDA’s 2018 Home Care Market Report.