New Outlook Report Shows Home-Based Care Providers Bullish on Near-Term Revenue Opportunities in the Year Ahead

Results highlight the keys to growth in 2024 as home-based care providers navigate continued staffing challenges and the expansion of personal care, and home-and-community-based services (HCBS).

Home Health Care News, a WTWH Media publication, has released the results of its 2024 Home-Based Care Outlook Survey, identifying the top challenges and opportunities for home-based care providers in the year ahead.

In summary, respondents indicated:

• Staffing is the No. 1 pain point for providers in the year ahead.

Survey participants cited staffing as the top challenge in home-based care for 2024, with recruiting and retention a key area of focus. In turn, staffing utilization is reported to be the top opportunity for driving business efficiencies moving forward.

• Diverse growth opportunities abound in 2024.

The vast majority of respondents are optimistic that their organizations’ overall revenue will increase in 2024 relative to 2023 due to a broad spectrum of factors. Investment in key growth areas like home health care, personal care / HCBS, and higher-acuity care in the home will be paramount as providers lean into same-store organic growth. Hospitals are also expected to play a pivotal role in referral growth.

• Value-based care is making an impact across the industry.

Seventy percent of respondents reported their organizations have made changes to their operational processes as a result of VBC.

“The staffing challenges in home-based care are significant, but equally notable are the opportunities to address and surmount them,” says Home Health Care News Editor Andrew Donlan. “Industry leaders are demonstrating optimism for the upcoming year by adopting new service lines, embracing value-based models, and leveraging technology to bolster staffing support.”

Brandy Sparkman-Beierle, Chief Clinical Officer of Homecare Homebase, also shared her thoughts on the 2024 Outlook Survey:

“The annual Home-Based Care Outlook Survey provides insights into the evolving home-based care industry, addressing challenges and spotlighting solutions. The rise in patient acuity and staffing shortages calls for a sophisticated approach to care, with an emphasis on analytics. HCHB is collaborating with our clients to improve areas like staff utilization and re-hospitalization management, using technology to cover gaps in care amid resource constraints.”

The survey was conducted online from November 2 to November 27, 2023. Access the full survey results here.

Home Health Care News conducted the survey in partnership with home-based care EHR and data analytics leader Homecare Homebase, with the objective of learning about how providers are navigating the growing demand for home-based care services, along with the challenges that come with it.

The results show the views of 152 home-based care professionals in a variety of leadership roles and organizations, painting a bold picture of the industry-wide sentiment in 2024 and beyond.

About WTWH Media and Home Health Care News

WTWH Media is an award-winning, digital-first B2B media and marketing company that connects brand marketers with targeted, hard-to-reach audiences of executives and practitioners. The company serves three core industry verticals including Engineering, Healthcare and Life Sciences, and Foodservice, Retail, and Hospitality. Hospice News is the leading source for news and information covering the hospice and palliative care industries. For more information on WTWH Media, please visit wtwhmedia.com.

About Homecare Homebase

Homecare Homebase is a Dallas-based software leader offering hosted, cloud-based solutions to streamline operations, simplify compliance and boost clinical and financial outcomes for home-based care agencies. Its customized mobile solutions enable real-time, wireless data exchange and communication between field clinicians, physicians and office staff for better care, more accurate reporting and improved revenue cycle management. Founded by industry veterans in 1999, HCHB empowers over 200,000 users to service more than 800,000 patients daily, resulting in over one hundred million visits per year. The company is part of the Hearst Health network. For more information, visit http://www.hchb.com or call us toll-free at 1- 866-535-HCHB (4242).

Media Contact
Robert Holly, WTWH Media LLC, 312-796-9949, rholly@wtwhmedia.com