US Home Healthcare Market

 US home healthcare is evolving into a massive market for US health systems and hospitals. The US home healthcare market is projected to grow about 7% annually from $103 billion in 2018 to $173 billion by 2026 — outpacing growth in all other care types, including hospital care (+5.3% annually) and physician services (+5.6% annually) — and providers must figure out how to tap into the burgeoning space. 

https://www.businessinsider.com/us-home-healthcare-marketUS 

Here are some of the key takeaways from the report:

• Home-based care is a large and growing market for US health systems and hospitals, while growth in the services that providers have historically relied on for profitability is tapering off. 
• The home healthcare market opportunity is driven by the need to manage the healthcare costs and readmission rates of a swelling senior population, as well as the risk of facing financial penalties.
• Telehealth is a powerful enabling technology that offers traditional health systems the ability to deliver care in patients' homes.
• Early trials of telehealth-enabled home-based care programs have reaped lower costs, lower readmission rates, and higher patient satisfaction scores.
• Providers need to make telehealth and staffing investments now to corner off a chunk of the home healthcare market and fend off growing competition.

In full, the report: 

• Sizes the US home healthcare market and outlines the industry and demographic trends that are driving the market's growth.
• Gives an overview of how telehealth is enabling providers to register positive returns on investment from home healthcare programs.
• Outlines how providers are likely to face stiff competition in the home-based care market from nonhospital players
• Highlights best practices and investment strategies that US health systems can adopt to tap into the booming home healthcare market.