Taking stock of all the relevant industry statistics is absolutely essential before starting a new franchise. When you look at the numbers, you’ll quickly realize that the Interim HealthCare franchise is cemented in a thriving industry, and well-positioned to grow in the future. Whether you’re familiar with the hospice care industry, or this is your first time exploring a home healthcare franchise, it’s crucial to have an understanding of the industry’s landscape and outlook.
A Positive Outlook for In-Home Care
The in-home care industry has shown promising signs of growth in the past five years. Since hospice care provides clients with the comfort of being treated in their own homes and eliminates the need for paying exorbitant hospital fees, the home healthcare franchise industry looks to be in demand for many years to come. The home care provider industry is thriving, earning around $99 billion in 2019. Since 2014 the industry has grown around 3.7%, which is very exciting news for prospective franchisees looking to jump into the market.
A Much-Needed Service
Demand is one of the key factors that drive any business’ success. In the hospice home care industry, demand doesn’t seem to be waning anytime soon. Baby boomers are rapidly approaching retirement age, and unfortunately, increasingly require medical care. According to population trends and data, the number of seniors 65 or older is about to increase drastically, and by 2030 that demographic will outnumber children for the first time in U.S history. This means you can expect an increased demand for home healthcare franchise services in the coming years.
The Benefits of In-Home Hospice
Interim HealthCares’ home healthcare franchises aim to provide the appropriate care in a comfortable environment. Research shows that 8 out of 10 Americans prefer to be around their family and home when living with a terminal illness, meaning there is no shortage of demand for a healthcare franchise that offers quality care in a comfortable environment. According to a study published in the Journal of Pain and Symptom Management, an in-home hospice environment extended the life expectancy of terminally ill patients by an average of 29 days. Of course, there is no way to guarantee our clients a longer life expectancy, but our franchisees can guarantee service that makes clients feel more at home. This is what truly separates an Interim HealthCare opportunity from many others; we care for our patients in a comfortable environment, where they can be surrounded and supported by their family and friends. Being able to rest in a familiar environment, rather than a dreary hospital setting, can really improve a patient’s mood, and contribute positively to both their mental and even physical state.
To learn more about Interim’s home healthcare franchise opportunity, visit our franchise website.