Home is becoming the center of the health care continuum. Non-medical senior care businesses assist clients, mostly seniors, with activities of daily living such as meal preparation, light cleaning, and companionship.

The number of senior care businesses is projected to grow at a breathtaking pace by 2026. According to the United States Bureau of Labor Statistics, employment in the sector will grow by 54 percent, adding more than 700,000 jobs, compared to the average employment growth in all industries projected at seven percent.

There is a confluence of factors behind this driving the expansion of in-home care companies. Here are the top four factors driving senior care business growth.

The Aging of America

Some call it the silver tsunami. The number of Americans turning 65 is occurring at a record rate. According to projections from the U.S. Census Bureau, more than 83 million Americans will become senior citizens by 2050, rising from 14 percent of the population to 21 percent.

Surveys suggest nearly 90 percent of the senior population wants to remain at living at home independently and “age in place,” which is bolstering the demand for the services provided by senior care businesses.

Chronic Conditions

Approximately 85 percent of older adults have at least one chronic health condition, according to the Centers for Disease Control and Prevention. Sixty percent of those people have at least two chronic conditions. Most people with chronic conditions are required to take medication to manage the effects.

People with chronic conditions often experience a loss of physical function, independence, or general well-being. This is very conducive to in-home care.

Since older people are less ambulatory, it is easier for them to receive treatment in the home rather than traveling to a care facility. In addition, seniors express a preference for home care; patient ratings of the home healthcare service they have received are extremely high. Some recent studies have shown that patients referred to home healthcare plans have better health outcomes and lower costs compared to inpatient care for post-acute services.

Pandemic PTSD

Demand for in-home care was rising before the COVID-19 crisis. However, the poor pandemic performance exhibited by nursing homes and assisted living facilities due to their inability to stem infections and deaths boosted the awareness of the value of in-home care and the desire to age in place.

Aging Americans have battled with loneliness and isolation long before the pandemic. Nearly one-fourth of adults aged 65 and older are socially isolated, with the problem frequently worsened by transportation barriers, hearing loss, loss of mobility, and lack of family nearby.

Loneliness and social isolation are found to increase the following health conditions by significant percentages:

  • Dementia – 50 percent
  • Stroke – 32 percent
  • Heart disease – 29 percent
  • Mental health disorders – 26 percent
  • Premature death – 26 percent

This is why companionship services are one of the biggest selling points of a senior care business. The pandemic further amplified this issue and increased the desire among seniors and their families to seek out non-medical senior care business options.

The Franchise Factor

There are a variety of senior care business models within the home care industry, however, franchised in-home care concepts, such as CareBuilders at Home, are quickly becoming the go-to option among clients. Because of the collective power, franchised senior care brings brand awareness, which carries a certain level of trust. Clients seeking out care are more likely to go with a name they know. CareBuilders at Home provides franchise owners with the tools that give clients confidence in the brand. This starts with drug screening and background checks on all caregivers, CPR, and vaccine certifications.

CareBuilders at Home has been helping people across the nation age gracefully in the comfort of their own homes for nearly four decades. Our vast experience allows us to understand and execute the senior care business model to help our franchise owners thrive in this ever-expanding industry.

To learn more about the senior care business opportunities available with CareBuilders at Home, fill out this form, and someone from our franchise development team will be in touch.