Not everyone sets New Year’s Resolutions anymore, but this time of year is still a natural time to take stock of our lives and make plans for the future. For many Americans, 2023 could be the year that they strike out on their own and start their own business, finally taking control of putting the odds of success in their favor. And for those who are out there searching for the best opportunities, home healthcare is high on many lists of top franchise categories for 2023.
Part of what has earned the home healthcare industry such attention in recent years is the unprecedented—and growing—number of Americans that are 65 and older in this country. As the market swells up to a projected $225 billion by 2025, home healthcare trends will continue to shift and grow. Let’s take a look at what newcomers to the industry can expect to see in 2023.
More Robust Home Healthcare Services
Since the pandemic, more and more doctors have become comfortable prescribing and recommending skilled care services to be performed in the comfort of their patients’ homes. In addition to the traditional skilled nursing services of medication administration, injections, IV maintenance, and similar services, many doctors are now supporting more robust home-based services, such as:
- Speech-language therapy
- Wound care
- Physical therapy
- Occupational therapy
- Medical social services
Boost is on the leading edge of this industry trend. Clients and their families often need more than the brief visits they typically receive from skilled nurses, instead requiring several hours or more a week of personalized attention and support.
With Boost, they can get the best of both worlds—skilled care and flexible, intermittent care, which is something an ever-growing number of people will need in the years to come.
Higher Demand for Home-Based Healthcare
The number of Medicare Advantage plans offering home-based care services has grown exponentially over the past several years. In 2023, the number of plans supporting these services will increase by almost 50%, from 729 in 2022 to 1,091. As more people gain access to these crucial services, more opportunities for home healthcare franchisees are bound to arise.
Of course, expanded access isn’t the only thing fueling the current demand. As the Baby Boomer population retires, we’ll see a sharp increase in the number of seniors who need care. By 2030, we expect to have 70 million seniors in the United States, and by 2050, up to 80 million—a 43% increase from today. Because of this trend, industry forecasters expect the home healthcare services market to hit $153 billion by the end of this decade.
Continued Focus on Stellar Patient Experience
If a home healthcare agency is to truly thrive, it must place a high value on patient outcomes. As competition grows among home healthcare providers, one major benchmark of success will be who can provide the best patient experience. To achieve all of the major benefits of in-home medical care, home healthcare operators must hire the most qualified nurses and uphold a culture of excellence, both things that Boost Home Healthcare can help its franchisees accomplish.
Running a home healthcare agency that makes a true difference in people’s lives means ensuring that clients, their families, and their entire care team are on the same page. Boost Home Healthcare offers a robust training program and proven business model to ensure that all aspects of a client’s care are well-coordinated. That means a lighter burden on families and a higher chance of a positive outcome for clients themselves.
Creative Solutions to Staffing Challenges
Let’s acknowledge the elephant in the room: all industry forecasters right now have to face the fact that finding and retaining skilled nursing staff will remain a challenge in 2023. Once again, though, the key will be to make sure employees feel valued, both in terms of tangible benefits and in company culture and work/life balance. Anyone seeking to start a home healthcare agency independently will face enormous difficulty offering that kind of value to prospective employees.
But those who choose to franchise with Boost Home Healthcare give themselves a major advantage in this stressful climate. Backed by the success and stability of Best Life Brands, we can give you the tools and the foundation you need to attract and retain top talent in the industry
Maximizing Home Care Marketing Strategies
Competition is growing in the home healthcare industry, and that means that your marketing dollars may not go quite as far in 2023 as they have in the past. But savvy entrepreneurs will see this as more of an opportunity than a challenge. More and more people are searching for these services, and maximizing your marketing budget can pay real dividends.
We’ve talked before about Boost Home Healthcare’s robust marketing support for franchisees. With our in-house tools and experts on your side, you won’t have to worry about wasting your budget on low-performing strategies or mismanaging your digital brand reputation. Instead, you can focus on reaping the rewards of an established name in a growing sector.
Enter 2023 Confidently with Help from Boost Home Healthcare
As a leading-edge company, Boost Home Healthcare is already forging new paths to take advantage of these trends in the years to come. By combining a proven business model with a fresh, nurse-based approach to home-based medical care, we’re ensuring our franchisees have everything they need to succeed in 2023 and beyond. Learn more about becoming a franchisee to get started forging your new path today!
Boost: One of the Top Franchises to Watch for 2023
As a member of the Best Life Brands family, Boost Home Healthcare is proud to help passionate people succeed while helping others. We’re poised to disrupt the senior care industry for the better, elevating home healthcare to a comprehensive, compassionate, and competitive degree. If you’re ready to join our growing community of successful franchisees, request your franchise kit today.
