Healthcare is an everchanging industry, and home care is no different.
In fact, the home healthcare industry is undergoing a seismic shift as the senior population in the United States continues its unprecedented boom.
What does this mean?
The demand for in-home care services is skyrocketing. But, are most home health agencies prepared for it? And if not, what can they do to set their organizations up for success in 2024 and beyond?
From leveraging cutting-edge AI technology to expanding specialty service offerings and confronting caregiver shortages head-on with better opportunities and benefits, we discuss eight of the top home health trends going into 2024.
1. Continued Growth for Home-Based Services
IN THIS ARTICLE
We have good news for home health agencies and for patients who benefit from their services.
Home-based healthcare is expected to grow as baby boomers continue retiring and desire to receive care in their preferred place of comfort – home.
Folks 80 years or older are expected to triple between 2020 and 2050, reaching 426 million. In fact, adults over the age of 65 will outnumber children under 18.
Therefore, according to Fortune Business Insights, home health care is projected to grow from just under $100 billion to over 150 billion by 2029.
This may come as a relief to overwhelmed hospitals and the healthcare industry in general and could allow home care providers to offer a broader range of services while increasing hiring.
However, to keep up with this expected growth, home health agencies need to continually bring in experienced and high-end staff.
2. Labor Shortages Are Not Going Away
As the number of retired individuals who prefer home health grows, home health agencies need to supplement those needs with additional caregivers and nurses.
Unfortunately, this has been a struggle since COVID-19. In a survey conducted by the KFF, all states acknowledged a shortage of care workers. Additionally, 43 out of 50 states “experienced permanent closures of providers” during 2023.
Home-based care will need to find ways to entice and retain caregivers and nurses to meet the demand that baby boomers are expected to place on home health agencies.
3. Caregiver Wages and Benefits Will Likely Increase
A significant home healthcare trend in 2024 will be to prioritize caregiver recruitment and onboarding. When it comes to nurses, the wages are often pretty decent. However, the same can not be said for general home caregivers.
The salary for these caregivers is on the lower end of the spectrum – the average being around $13.67 per hour.
For an industry expecting its clientele to grow, it is prudent for home health agencies to increase wages and benefits for their employees and partners in 2024.
Benefits such as transferable college credits, regular bonuses, and childcare assistance may also gain popularity as home health agencies compete for top talent and qualified caregivers. Flexible PTO, family health coverage, and team events are additional benefits that may help to alleviate caregiver shortages.
However, it is important to note that increasing wages for caregivers could lead to increased costs for clients in 2024. Home health agencies will try to balance this by maintaining affordable, quality care experiences while also staying competitive in the marketplace.
Note: If you’re unsure, learn more about the differences between a nurse and a caregiver here.
4. Diversity Will Play a Larger Role in Hiring
The population in the United States is growing in diversity, which is a beautiful thing.
According to recent Census statistics, around 68 million people speak a language other than English. Some of the top languages include Spanish, Chinese, Vietnamese, and Arabic.
Good communication is integral to achieving patient care standards. Clients need to be able to tell their caregivers and nurses what they are feeling and how they can be assisted.
Therefore, bilingual or multilingual healthcare professionals are a major focal point heading into 2024 and beyond.
Essentially, the home care industry is facing a massive shift, with a greater emphasis on hiring the right people for the job rather than simply filling a vacancy with anyone willing to take on the duties.
That may sound a little harsh regarding previous decades of home care, but the difference between a high-end and diligent caregiver vs. a low-end home care worker is vast.
Home health companies that are deliberate in their hiring practices and prioritize ongoing training will benefit from increased employee retention and satisfaction, not to mention an increased quality of care.
5. Agencies May Offer Companionship Services
According to BMC Public Health, approximately 50% of folks over the age of 60 experience strong feelings of isolation and loneliness. That is essentially half our senior citizens.
Therefore, there has been a significant trend in the home health industry to start leveraging companionship services for seniors.
Not only are home health agencies adding this service as a focal point, but elderly clients and their families are advocating for it. A little companionship, and senior care, can go a long way!
6. Remote Patient Monitoring (RPM) Will Increase
If COVID-19 taught us anything, it is that there will always be an opportunity to confront a challenge by being innovative and resourceful – especially in healthcare.
Telehealth allows healthcare providers to check in on patients, but it does not allow them to collect vital signs. RPM is a potential solution to that issue.
RPM provides real-time data, allowing care workers to make treatment adjustments as needed to control symptoms and disease progression.
Remote patient monitoring became a popular alternative to in-person medical visits during the peak of the COVID-19 pandemic. This doesn’t solve the companion concerns that we previously mentioned, but expect RPM to continue growing in 2024, particularly for people with limited mobility who may find it difficult to travel for checkups.
7. Technology Will Ease Caregiver Demands with AI
Okay, this one may sound a little ‘out there,’ but think about it: have you noticed that AI is completely revolutionizing a wide variety of industries?
With the arrival of ChatGPT, Bard, Claude, and more, there is no telling how technology and AI could help advance home health going into 2024.
One thing is for certain, we don’t anticipate AI to replace caregivers. However, AI could absolutely take some pressure off of home health workers.
AI Technology, like Robotics Process Automation (RPA) could assist with operational efficiency tasks such as:
- Capturing vitals
- Medication Reminders
- Scheduling assistance
- Abnormality alerts
- Remote monitoring
This could massively benefit home health agencies, too. With less of a burden on home caregivers, this allows agencies to take on more clients.
8. Home Care Agencies Will Offer New Specialties
We are in an age of getting exactly what you want. From restaurant apps, like Starbucks and Chipotle, that make customized orders a breeze to choosing any iPhone color under the sun, personalization is here to stay.
The same can be said for healthcare.
In 2024 and beyond, home health is challenging what someone needs to visit a medical facility for. Sure, if you need an MRI or an invasive surgical procedure, a home care worker won’t be able to help.
However, when you start considering having a private duty nurse in your home, there is a whole range of specialty services you can receive – such as IV therapy, wound care, dementia care, and end-of-life hospice care.
New specialties may require additional training, but diversifying services could help care providers remain competitive.
Get the Best Home Care with NurseRegistry
As you can see, the demand and need for excellent home care services is ramping up. Baby boomers are rapidly transitioning to retirement and home health is projected to continue growing into 2024.
If your home health agency is looking for high-end and reliable nurses, NurseRegistry can help.
With NurseRegistry, your home care organization will benefit from:
- A large pool of LVNs/LPNs and RNs with necessary specialty skills
- Flexible scheduling to ensure your patients receive home nursing care whenever they need it
- A reliable in-home nurse staffing resource that you can trust
- A dedicated client services team
Get skilled nursing care for your home health patients exactly when and how you need it. Click below to learn more about NurseRegistry’s nurse staffing solutions today.
