A recent study conducted by the Bureau of Labor Statistics has analyzed and foreshadowed the job market for 2016, including that of the home health care and hospice care sectors. Not surprisingly, its findings demonstrate that home health occupations are projected to grow by an astounding rate, due to the growing elderly population who prefer to “age in place.” Home health aides and hospice workers are increasing in demand and their growth over the next decade is expected to reach 1.2 million workers nationwide by 2024.
Home Health Aides Projections
As home health aides are traditionally less expensive than their nursing home or hospital counterparts, this care method has become increasingly popular over the last decade.
This field’s popularity is also fueled by the preferences of the patients. According to the Bureau of Labor Statistics, another factor that will likely lead to an increase in the demand for home care is that most clients prefer to be cared for in their homes where they are most comfortable.
As we’ve discussed in previous blog posts, there are currently no national uniform educational requirements for home health aides. However many states require that these para-professionals attend preparation classes that are regularly offered by community colleges and/or vocational schools. Education & training are essential to insuring the success of home health aides, in addition to the well-being of the patients they serve, as this sector continues to grow.
Hospice Care Outlook
Patients who need constant assistance for the last few months of their lives depend on hospice workers, and both volunteers and paid workers provide the necessary care for these terminal patients. The most common types of hospice employees include dieticians, hospice aides, medical directors, nurses, assistants, and therapists. For those patients who are still in hospice care after 6 months, these healthcare professionals can help to ensure the comfort of the patients during the remainder of their lives. Hospice workers require education, even for entry level positions. In turn, these positions pay more and are usually more desired than home health aide positions.
As previously mentioned, the aging generation of baby boomers requires plenty of in-home assistance. While this industry is challenging, the number of job openings as a result of replacement is a major factor for growth in the industry. For example, the projected number of openings for home health aides is expected to increase by 666,000 by 2022, according to the Bureau of Labor and Statistics. Similarly, home health care aides are expected to increase by 590,700, or 49%within the next 10 years, according to the Bureau of Labor Statistics. These two professions alone are expected to create over 3 million jobs, providing an increased and drastic need for these healthcare professionals.
At Manchester Specialty Programs, you will find all the insurance coverage you need to operate your home health or hospice agency, and all in one program. We deliver specialty insurance programs that are specifically designed for home care and hospice firms in both medical and support roles. Special rate consideration is given to those firms that make aide training and certification a top priority. Our comprehensive home health care and hospice provider insurance program is designed to help these agencies continue to provide the important services they offer throughout our communities. To find out more about our operation and all our specialty insurance programs, you or your local insurance broker can give us a call today at 855-972-9399.