Due to the baby boom population of the 1940s and 1950s, the American public is aging. Over the next four decades, a significant number of the baby boom generation will reach the age of 65 and will become close to a quarter of the United States population.
With advances to medical care, health technology and methods to treat illnesses and diseases, everyone is living longer. It is usually surmised, however, that seniors will have to transition to a retirement residence. No longer is this the trend due to the marketplace of home care providers in the nation.
Although a substantial percentage of families become caregivers to their aging or sick parents, the home care industry, such as new products, therapy, nutritional counseling and other services, has gained a considerable presence and has helped millions of seniors in both their health and the ability to stay at home.
A report from Franchise Direct found that there are roughly 23,000 home health care businesses (2007 figures) in the country that employ more than one million individuals and generate about $46 billion – other reports say 1.5 million employees and $70 billion in revenues. As franchising opportunities increase, the number of senior care services is expected to grow over the next decade.
It was reported by the London Guardian that seniors are embracing technology more and more. One Housing Group, a developer and provider of homes and housing care, has been utilizing alarms, sensors, helplines and pill dispensers to aid those with dementia, for instance.
Because of these innovative products and services, the Partnership for Older People Project (Popp) found that an additional 26 percent of users of One Housing Group were able to stay home, 13 percent avoided hospital admission and 29 percent reduced home care hours.
Even home care nurses are adapting to technology. It was announced that the Philadelphia-based Bayada Home Health Care are giving their home care nurses 4,000 Samsung Galaxy Tablets. The purpose was to make the work more efficient since the average nurse spent an extra hour-and-a-half each day typing out important information and notes.
24Hr HomeCare is also helping seniors stay in their homes. Locally owned and operated in Torrance, California and Culver City, California, the professional and experienced team ensures that customers continue to experience a stress-free, active and healthy lifestyle. The caregivers do this by offering non-medical services to meet their needs, whether it’s personal care, companionship, meal preparation, light housekeeping, transportation and medical reminders.
The founders David Allerby, Tyner Brenneman-Slay and Ryan Iwamoto maintain more than two decades of experience in the industry combined. They have begun to offer this service so the elderly can avoid senior homes and remain independent.
To put its clients’ minds at ease, all caregivers are trained, screened, bonded and insured and American Board of Home Care (ABHC) certified. All of its staff members are available 24 hours a day and seven days a week, participate in a real-time monitoring system and are supervised during various visits to ensure that all of clients’ wants and needs are satisfied.
Not only does it care for seniors, it also helps the community. Since 2008, it has donated nearly $35,000 to the community, such as Partners in Care Foundation, OneGeneration, UCLA Fund, Hospice of the East Bay, Age Well Senior Services and many other organizations.
Due to its extensive work with seniors and in the community, it has been awarded South Bay’s Best in 2010 and 2011, The Best of Culver City in 2011, Alzheimer’s Early Detection Alliance (AEDA) Champion and Best Places to Work 2012 by the Los Angeles Business Journal.
According to the U.S. Department of Health and Human Services (HHS) and the Department of Labor, as the “graying of America” persists, the number of seniors using paid long-term care services will double by 2050. Competition for Americans continues to soar as only 50 firms control less than a quarter of the market.
“This industry is growing so fast and people think it's such an easy industry, but you really have to have the heart,” said Kayla Hester, a caregiver with Nurse Next Door, in an interview with MySanAntonio.com. “Seniors are going to be big business.”
Is this the beginning of the end for retirement homes?