Emerging Trends in Home Health and Home Care for 2024
Continued market growth, labor shortages, and diversification at the forefront of what we expect to see in 2024
THE VBP Blog
January 11, 2024 – As we enter 2024, it’s important to look at what the new year holds for the home health and home care industry. With growth expected to continue and the importance that these services have on the overall well-being of consumers, we need to understand how to find success on the cusp of transformative changes and better understand how value-based payments can help drive this change. With demographic shifts, technological advancements, and evolving regulatory and reimbursement policies, the sector is expected to navigate through a dynamic landscape in 2024.
In this blog series over the next few weeks, we are going to explore, in-depth, the top trends that we expect will shape the home health and home care industry in 2024. From the integration of technology to shifts in care models, we will look at the factors that are expected to influence service delivery. Most importantly, as we examine the 2024 trends for home health and home care, we will focus on how agencies and organizations can adapt to make home health care and home care more accessible, efficient, and patient-centered, in addition to how value-based payments can make an impact.
Why Home Health Care and Home Care Matter
Home health care and home care are pivotal components of the healthcare system. They provide a variety of medical and non-medical services to individuals in the comfort and privacy of their own homes. This is important because the majority of individuals want to receive in-home care and support services that allow them to remain independently at home.
As we move through this blog series that looks at the 2024 trends for home health and home care, it is important to know the difference between home health care and home care. Home health care involves professional medical services provided by licensed nurses, therapists, and home health aides. These services are medical services that follow a hospital stay or diagnosed chronic condition. The services received through home health care can include wound care, medication administration, physical therapy, and monitoring of health status.
Home care differs from this. It is also called personal care and it focuses on assisting individuals with non-medical daily activities they might struggle with due to aging, disability, or long-term health issues. Services received through home care can include help with bathing, dressing, meal preparation, transportation, household chores, and light housekeeping. The goal of home care is to support individuals in maintaining their independence and quality of life at home.
The importance of these services cannot be overstated. For many, home health and home care are not just conveniences. We are talking about essential services that allow individuals to live with dignity and as much independence as possible. That’s not all. Home health and home care services can help prevent or delay hospitalizations or long-term care facility admissions. This is not only a win for the consumer, but it provides a cost-effective solution that benefits the broader healthcare system as well. Plus, with the incorporation of value-based payments, we can ensure that providers are focused on improving the quality of care and outcomes, in addition to reducing costs.
Anticipated Trends in Home Health and Home Care for 2024
So, as we look forward to 2024, what key trends are expected to influence the home health and home care industry? Some of the top trends we expect to see are continued growth, a new focus on person-centered care, and evolving workforce strategies to address the rising demand for services, among others. Understanding these trends is crucial for anticipating the future of home health and home care, and over the next few weeks we are going to break these trends down in more detail in a series of blogs.
Here are the trends that you can expect to see detailed analysis on from us over the next few weeks:
- Continued Growth for Home-Based Services: The demand for home-based services like home health care and home care is going to continue to grow. It will be driven by an aging population, preference for aging and receiving care in home, and advancements in home care technologies.
- Labor Shortages Persisting: Ongoing labor shortages are going to continue challenging agencies. This will require innovative strategies to recruit caregivers and nurses, as well as prompting a greater integration of technology solutions like telehealth and automated systems.
- Inflation Impacting Costs: As inflation persists, agencies will face increased operational expenses, while consumers may see higher private pay costs. This economic pressure might trigger more innovation or mergers and acquisitions.
- Continued Regulatory and Reimbursement Challenges: Navigating the complex landscape of regulations and reimbursement will remain a significant challenge, requiring agencies to stay agile and informed to manage potential impacts on service delivery and financial health. This includes the recently finalized 2024 cuts to Medicare home care reimbursement rates.
- Diversification and Whole-Person Care: Agencies will increasingly recognize the need to diversify services and focus on whole-person care. This can lead to integrating enhanced care coordination to address the comprehensive needs of patients more effectively.
- Patient Empowerment: Trends toward patient empowerment will gain momentum. In 2024, more individuals will take an active role in their care, aided by accessible information, technology, and supportive healthcare policies.
- Increased Cultural Competency: As the population becomes more diverse, there will be a heightened emphasis on cultural competency within home health and home care services. Agencies will need to adapt training to ensure care is respectful, sensitive, and tailored to the cultural needs of each patient.
As we progress through these 2024 trends in home health and home care over the next few weeks, we will not just be examining what these trends mean for the industry and home health and home care industries. As always, we will also keep an eye on how these changes can impact consumers and patient outcomes and how value-based payments can hold agencies accountable for this, so they continue offering quality care.
Advocates Perspective
In 2024, the expected continued growth in the home health and home care industries reaffirms the essential role of these services in the healthcare system. While labor shortages and economic pressures signify a need of innovative solutions and the incorporation of technologies and value-based payments that shift the focus to patient outcomes, we will also see a move towards more holistic, patient-centered care. This is extremely beneficial for consumers and will enhance the benefits of home health and home care services even further. However, for this to happen, agencies need to embrace these changes and proactively address challenges with solutions that will not only help them thrive from a business standpoint, but also significantly contribute to shaping a more effective and compassionate healthcare system. As we look ahead, the industry’s efforts to adapt, innovate, and improve will be instrumental in ensuring that every individual can receive the care they need in the comfort and security of their homes.
Onward!
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About the Author
Fady Sahhar brings over 30 years of senior management experience working with major multinational companies including Sara Lee, Mobil Oil, Tenneco Packaging, Pactiv, Progressive Insurance, Transitions Optical, PPG Industries and Essilor (France).
His corporate responsibilities included new product development, strategic planning, marketing management, and global sales. He has developed a number of global communications networks, launched products in over 45 countries, and managed a number of branded patented products.
About the Co-Author
Mandy Sahhar provides experience in digital marketing, event management, and business development. Her background has allowed her to get in on the ground floor of marketing efforts including website design, content marketing, and trade show planning. Through her modern approach, she focuses on bringing businesses into the new digital age of marketing through unique approaches and focused content creation. With a passion for communications, she can bring a fresh perspective to an ever-changing industry. Mandy has an MBA with a marketing concentration from Canisius College.