Business Wire announced the release of its 2017 Home Health Care Market Outlook Report recently, and it promises to offer a number of predictions regarding the industry as a whole and what can be expected for the next several years. There have been numerous predictions throughout the past decade or so, and some of the most significant have already come to pass, namely that the sector is the biggest job creator in the United States right now.
The report is available for purchase, but what does the industry offer? What is the likelihood of healthcare legislation reform in Congress? What kind of changes might occur if the Affordable Care Act is repealed and replaced with new legislation. In 2010, as a way to help pay for what was called ‘Obamacare,’ a 14 percent cut in reimbursement rates to Medicaid funded home care support services was required. The impact of these changes is still being felt today, with potentially greater cuts coming.
The majority of care providers in this industry are independent caregivers or small agencies that might only have one or two offices and a handful of employees. They are not on a level with some of the larger conglomerates that continue to acquire smaller agencies and organizations across the country.
The weight of these changes to spending and reimbursements has forced some home care providers to sell or close their doors, altering access for many of their clients. Some argue that fewer agencies, fewer independent agencies, and more large companies maintaining hundreds or even thousands of agencies under one umbrella may impact access to or quality of care. Others argue that only these larger companies can survive the changes coming at the federal level.
As reported by Business Wire, a Berkshire Hathaway Company, in their release, Global 2017 Home Health Care Market Outlook Report – Research and Markets, all of the companies mentioned in the report are considered significant players in the industry, including:
– AccentCare, Inc.
– Addus HealthCare, Inc.
– Almost Family, Inc.
– Amedisys, Inc.
– American HomePatient
– BAYADA Home Health Care
– HCR ManorCare
– Intrepid USA
– Kindred Healthcare Inc.
– Lincare Holdings
– Maxim Healthcare
– National HealthCare Corp.
– PSA Healthcare
– Rotech Healthcare, Inc.
– VITAS Healthcare
This report may offer clarity and solid insight into the future of home care support, but it’s unclear whether it will offer much to those considered independent, smaller agencies.
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