The home health industry in 2024 is expected to witness several trends and challenges, as highlighted by industry leaders:
Focus on Medicare and Medicare Advantage (MA): The industry will see the continued importance of traditional Medicare, with a growing emphasis on Medicare Advantage. Data and analytics will play a crucial role in demonstrating the value proposition of home health services.
Labor Challenges and Payer Mix Impact: Labor shortages will persist, affecting market capacity. The payer mix and specific payer strategies to maximize care will be critical factors. Providers will need to address these challenges to maintain margins.
Technology and Efficiency: The exploration of innovative ways to use technology for efficiency and care delivery will be a ongoing trend. Home health agencies will leverage technology to enhance operations and improve patient outcomes.
Cost Savings and Quality of Life: Home health is seen as a significant driver of cost savings, offering better quality of life and outcomes for patients. Communicating these benefits to the payer community and government will be important for the industry.
Care Coordination and Social Determinants of Health: Care coordination, both clinically and with social determinants of health, will be a key focus. Coordinating care with personal care, transportation, meals delivery, and physical activity, along with clinical care coordination, will be crucial for quality and timeliness of care.
Market Growth and Capacity Expansion: The industry sees great opportunities for market growth as the demand for home care services increases. Capacity expansion will be pursued through workforce solutions, efficiency measures, and unique partnerships in care delivery and coordination.
These trends reflect the evolving landscape of home health care, with a strong emphasis on data-driven decision-making, technology adoption, and collaborative approaches to address challenges and seize growth opportunities.
