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US home health care is developing into a massive market for US healthcare systems and hospitals. The US home market is expected to grow by 7% annually from $ 103 billion in 2018 to $ 173 billion in 2026 – outperforming all other types of healthcare, including hospital care (+ 5.3% annually) and medical services (+ 5.6% annually) – and suppliers have to figure out how to cope with the growing room
The American health systems and hospitals are turning to telehealth as a tool to extend the care to the patient's homosexual es in order to improve the outcome, reduce costs and utilize the home market. Telehealth – including video office visits and remote control for patient monitoring – extends doctor's reach, enables a constant relationship between patients and caregivers, and provides suppliers with a continuous stream of real-time health data.
The US Home Health Report from Business Insider Intelligence sizes the US home health market and identifies industry trends that stimulate the growth of home-based care. We highlight how suppliers use telehealth to deliver qualitative remote care, and details that other investment suppliers do to prepare the future for home health care. We also analyze a case study of a successful home care model and establish best practices that organizations can take to reduce intake and health care costs through home care.
The companies mentioned in this report are: American Well, Best Buy, CarePredict, CVS Health, Emerald, Epic Geisinger, GreatCall, InTouch Health, Johns Hopkins Medicine, Medical Home, New York Presbyterian Hospital, Philips SnapMD , Teladoc, University of Pittsburgh Medical Center
Here are some of the key tags in the report:
- Home-based care is a large and growing market for US health systems and hospitals, while the growth in The services that suppliers have historically relied on for profitability are decreasing.
- The healthcare market's opportunities are driven by the need to manage healthcare costs and readmission prices for a swollen elderly population, as well as the risk of financial sanctions.
- Telehealth is a powerful possible technology that offers traditional health systems the ability to deliver care to patients' homes.
- Early studies of telehealth-activated home-based care programs have reaped lower costs, lower readmission rates and higher patient satisfaction scores.
- Providers need to make telehealth and staffing investments now to remedy a piece of home healthcare and prevent increased competition.
In full, the report describes:
- The size of the home care market in the US and outlines the industry and demographic trends that drive growth in the market.
- Provides an overview of how telehealth makes it possible for suppliers to register positive returns on investments from home planning programs.
- Ou talks about how vendors are likely to face fierce competition in the home-based healthcare market from non-hospital players
- Notices best practices and investment strategies that US healthcare systems can adopt to enter the thriving home market.
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