Get new exclusive access to healthcare business reports & breaking news
At the onset of the COVID-19 pandemic, scientists all over the world have unanimously agreed that seniors are one of the most vulnerable to being infected by this virus because of a weaker immune system to combat it. Because of this, there have been widespread outbreaks in nursing homes and assisted living facilities that endanger the lives of our dear elders.
The invaluable help of caregivers is needed now more than ever. With lockdown orders and a promise of a safer environment when confined at home, caring for seniors in their homes is a better option in keeping seniors stay healthy and strong.
If you are starting a home care business, now is the time to do so. With the expected higher demands in caregivers to protect and nurse seniors, it can be a profitable business venture.
More so, many senior living facilities have experienced a shortage of staffing. Caregivers could help out in addressing this workforce shortage. Non-skilled caregivers can free up skilled ones to cater to the urgent medical needs of the seniors. This would enable the staff to satisfactorily cater to the needs of their charges.
As per Commonwealth Funds predictions, there might be a potential shift in policies that could bolster Medicare home health benefits, which are currently lacking in payment options. Normally, Medicaid or insurance benefits post health care at home after hospitalization is limited and are frequently coming out from the senior’s pocket. Now, there might be more opportunities afforded to home caregiving emphasis on integrating home health, health care, and social care.
Further, an increase in the pay of caregivers is seen due to the high demands of senior health care at home as well as those who are recovering from COVID-19. The fund also forecasts expansion of the Medicare benefits, including payment for more than one home health visit per day could close the gap between skilled nursing facilities and the home care workforce.
Among the many things that the pandemic, such as the novel virus, has made us realize is the fact that your job is not as secure as you thought it would be. With the high turnout of unemployed individuals, the workforce in the home care industry has offered more job security. With this, home care organizations won’t have a difficult time attracting the right talent to serve as health care assistants to seniors, particularly in the age of personalized at home medical care.
It is expected that as the need for home care services is becoming the better option to care and attend to the needs of seniors, more licensing requirements might be needed by states. As of now, states only have a handful of requirements both for home care agencies and caregivers. This will help in advancing the competency of home care providers and the organizations that employ them.
Due to the pandemic, many facets of human life have been changed and probably permanently altered, including the home care industry. There would always be advantages and downsides that result from such change. But what’s important is businesses would be more creative in their ways, and hopefully, entrepreneurs are born because of these circumstances.