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Why Homecare, Not Software, Is The Growth Business Of The Future

We’re on the edge of a demographic cliff right now. There are more people than ever before living to until their twilight years, and it’s putting big pressure on our medical system. This will put the costs of healthcare up to unaffordable levels within a decade unless something changes.

But in amongst the doom and gloom, there will be some people who win. An area that looks set to gain big is healthcare, and especially home care. In fact, home care is expected to grow so dramatically that it may even eclipse the software industry in Silicon Valley. If you’re looking for a growth business, this is where you want to be right now.

Home Care Is The Future, According To Experts

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Last year the Institute of Medicine and the National Research Council investigated the benefits of home care. They found that home care had the potential to dramatically reduce the costs of medical assistance for the elderly. They also concluded that it is particularly cost effective when an elderly person has a disability. People treated at home had better outcomes than people cared for in a traditional setting. Businesses, therefore, entering this sector have a huge marketing advantage. They can advertise the fact that their home care services help the old lead better lives.

The researchers also found that home care made end-of-life care better. It was easier for both parents and families during this emotionally difficult time. There were fewer hospitalizations and lower medical bills as a result. According to experts, 90 percent of Americans prefer to live out their final days at home.

There Is Lots Of Support For New Home Care Businesses

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As a result of this growing market, there’s now much more support than ever before for new businesses entering the fray. Setting up a home care assistance franchise is now easier than ever. And franchises offer entrepreneurs support for everything from SEO to sourcing clients. People who start home care businesses, therefore, can expect to receive a regular stream of income almost from the get-go.

Health Care Usage Increases With Age

Since 2011, more than 77 million baby boomers started becoming eligible for Medicare. Since then the amount of money being spent on health care has rocketed. The Kaiser Family Foundation has asked where home care businesses are likely to make the most money. According to their analysis, it’s in the area of disability management and chronic conditions. Home care companies, therefore, need to train their staff to be able to deal with a whole range of chronic conditions. Going forward, we’re going to see increased demand for home care companies that can deal with specific diseases like diabetes. We’re also going to have a home care industry that will have to deal with more severe conditions more often thanks to lifestyle changes.

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Going forwards, home care is going to comprise a larger and larger part of the Medicare budget. We’ve already seen it grow from 7 percent in 2000 to 12 percent in 2011. Now it’s up by another few percentage points and still climbing. This is an epic opportunity for those who can see it coming.

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