Home Care Industry Future Trends Survey 2023

Section I: The Future of Home Care

In-home personal care for the elderly and disabled is the fastest growing segment of health care in America. There are over 26,000 companies providing this care.

To better understand the future of this industry sector, and the trends that are shaping the future, we would like to get your input.

Please take a few minutes to answer these 15 questions. In exchange for your time and insights, we will provide a full copy of our published White Paper, and will invite you to participate in a live Web Conference where we will share the results of this research, and share our perspective on this information to help you grow your business and get ready for the future.

Thanks in advance.

Question Title

* 1. As a result of working with hundreds of home care companies, Leading Home Care has identified twelve specific systems that are key to operating a successful home care business. Which of the following 12 systems do you feel are most important for you to leverage in the future to scale your home care company? Pick the three most important systems to develop. (Pick 3)

Home Care Sales System

Home Care Marketing System

Client Inquiry Conversion System

Caregiver Recruiting System

Human Resources Compliance & Information System

Caregiver Retention System

Client and Caregiver Scheduling System (Home Care Operating System)

Care Coordination System

Payroll System

Billing & Collection System

Metrics Tracking

Financial Reporting

Other (please specify)

Question Title

* 2. What are the biggest pain points that will get in the way of growing your home care business over the next five years? Rate each pain point listed on a scale of 1 to 5.

	1. Not at all painful	2. Not very painful	3. Somewhat painful	4. Very painful	5. Extremely painful
Caregiver Shortages	Caregiver Shortages 1. Not at all painful	Caregiver Shortages 2. Not very painful	Caregiver Shortages 3. Somewhat painful	Caregiver Shortages 4. Very painful	Caregiver Shortages 5. Extremely painful
Caregiver Recruiting	Caregiver Recruiting 1. Not at all painful	Caregiver Recruiting 2. Not very painful	Caregiver Recruiting 3. Somewhat painful	Caregiver Recruiting 4. Very painful	Caregiver Recruiting 5. Extremely painful
Caregiver Retention	Caregiver Retention 1. Not at all painful	Caregiver Retention 2. Not very painful	Caregiver Retention 3. Somewhat painful	Caregiver Retention 4. Very painful	Caregiver Retention 5. Extremely painful
New Client Attraction	New Client Attraction 1. Not at all painful	New Client Attraction 2. Not very painful	New Client Attraction 3. Somewhat painful	New Client Attraction 4. Very painful	New Client Attraction 5. Extremely painful
Office Team Effectiveness	Office Team Effectiveness 1. Not at all painful	Office Team Effectiveness 2. Not very painful	Office Team Effectiveness 3. Somewhat painful	Office Team Effectiveness 4. Very painful	Office Team Effectiveness 5. Extremely painful
Regulatory Compliance	Regulatory Compliance 1. Not at all painful	Regulatory Compliance 2. Not very painful	Regulatory Compliance 3. Somewhat painful	Regulatory Compliance 4. Very painful	Regulatory Compliance 5. Extremely painful
Data Privacy and Security	Data Privacy and Security 1. Not at all painful	Data Privacy and Security 2. Not very painful	Data Privacy and Security 3. Somewhat painful	Data Privacy and Security 4. Very painful	Data Privacy and Security 5. Extremely painful
Operational Systems Efficiency	Operational Systems Efficiency 1. Not at all painful	Operational Systems Efficiency 2. Not very painful	Operational Systems Efficiency 3. Somewhat painful	Operational Systems Efficiency 4. Very painful	Operational Systems Efficiency 5. Extremely painful
Revenue Growth	Revenue Growth 1. Not at all painful	Revenue Growth 2. Not very painful	Revenue Growth 3. Somewhat painful	Revenue Growth 4. Very painful	Revenue Growth 5. Extremely painful
Profitability	Profitability 1. Not at all painful	Profitability 2. Not very painful	Profitability 3. Somewhat painful	Profitability 4. Very painful	Profitability 5. Extremely painful

Other (please specify)

Question Title

* 3. There are a number of external forces and trends that are shaping the future of home care. Often these forces are outside of your control, but hinder your ability to grow your business. Please rate each of these forces on a sale of 1 to 5 on how much you think it will hinder your ability to grow your business over the next five years.

	1. No hindrance	2. Very little hindrance	3. Some hindrance	4. Very big hindrance	5. Extreme hindrance
Consolidation of the industry	Consolidation of the industry 1. No hindrance	Consolidation of the industry 2. Very little hindrance	Consolidation of the industry 3. Some hindrance	Consolidation of the industry 4. Very big hindrance	Consolidation of the industry 5. Extreme hindrance
The entry of Private Equity companies into Home Care	The entry of Private Equity companies into Home Care 1. No hindrance	The entry of Private Equity companies into Home Care 2. Very little hindrance	The entry of Private Equity companies into Home Care 3. Some hindrance	The entry of Private Equity companies into Home Care 4. Very big hindrance	The entry of Private Equity companies into Home Care 5. Extreme hindrance
Increasing competition	Increasing competition 1. No hindrance	Increasing competition 2. Very little hindrance	Increasing competition 3. Some hindrance	Increasing competition 4. Very big hindrance	Increasing competition 5. Extreme hindrance
Rising costs of staff, supplies, and services	Rising costs of staff, supplies, and services 1. No hindrance	Rising costs of staff, supplies, and services 2. Very little hindrance	Rising costs of staff, supplies, and services 3. Some hindrance	Rising costs of staff, supplies, and services 4. Very big hindrance	Rising costs of staff, supplies, and services 5. Extreme hindrance
The increasing use of technology in home care	The increasing use of technology in home care 1. No hindrance	The increasing use of technology in home care 2. Very little hindrance	The increasing use of technology in home care 3. Some hindrance	The increasing use of technology in home care 4. Very big hindrance	The increasing use of technology in home care 5. Extreme hindrance
Government Regulation at the Local Level	Government Regulation at the Local Level 1. No hindrance	Government Regulation at the Local Level 2. Very little hindrance	Government Regulation at the Local Level 3. Some hindrance	Government Regulation at the Local Level 4. Very big hindrance	Government Regulation at the Local Level 5. Extreme hindrance
Government Regulation at the State Level	Government Regulation at the State Level 1. No hindrance	Government Regulation at the State Level 2. Very little hindrance	Government Regulation at the State Level 3. Some hindrance	Government Regulation at the State Level 4. Very big hindrance	Government Regulation at the State Level 5. Extreme hindrance
Government Regulation at the Federal Level	Government Regulation at the Federal Level 1. No hindrance	Government Regulation at the Federal Level 2. Very little hindrance	Government Regulation at the Federal Level 3. Some hindrance	Government Regulation at the Federal Level 4. Very big hindrance	Government Regulation at the Federal Level 5. Extreme hindrance
The State of the Economy	The State of the Economy 1. No hindrance	The State of the Economy 2. Very little hindrance	The State of the Economy 3. Some hindrance	The State of the Economy 4. Very big hindrance	The State of the Economy 5. Extreme hindrance
Labor Market Conditions	Labor Market Conditions 1. No hindrance	Labor Market Conditions 2. Very little hindrance	Labor Market Conditions 3. Some hindrance	Labor Market Conditions 4. Very big hindrance	Labor Market Conditions 5. Extreme hindrance
The increasing cost of home care	The increasing cost of home care 1. No hindrance	The increasing cost of home care 2. Very little hindrance	The increasing cost of home care 3. Some hindrance	The increasing cost of home care 4. Very big hindrance	The increasing cost of home care 5. Extreme hindrance
Professional Liability	Professional Liability 1. No hindrance	Professional Liability 2. Very little hindrance	Professional Liability 3. Some hindrance	Professional Liability 4. Very big hindrance	Professional Liability 5. Extreme hindrance
The increasing awareness of home care by consumers	The increasing awareness of home care by consumers 1. No hindrance	The increasing awareness of home care by consumers 2. Very little hindrance	The increasing awareness of home care by consumers 3. Some hindrance	The increasing awareness of home care by consumers 4. Very big hindrance	The increasing awareness of home care by consumers 5. Extreme hindrance

Other (please specify)

Question Title

* 4. What do you see as the greatest growth opportunities for home care companies in the next five years? Which of these will provide the greatest opportunity to you and your company based on where you are today? Rate each opportunity on a scale of 1 to 5.

	1. No growth opportunity	2. Very low growth opportunity	3. Some growth opportunity	4. Very high growth opportunity	5. Extremely high growth opportunity
Doing a much better job with our current business in our current market and attracting more clients	Doing a much better job with our current business in our current market and attracting more clients 1. No growth opportunity	Doing a much better job with our current business in our current market and attracting more clients 2. Very low growth opportunity	Doing a much better job with our current business in our current market and attracting more clients 3. Some growth opportunity	Doing a much better job with our current business in our current market and attracting more clients 4. Very high growth opportunity	Doing a much better job with our current business in our current market and attracting more clients 5. Extremely high growth opportunity
Expanding into new geographic markets	Expanding into new geographic markets 1. No growth opportunity	Expanding into new geographic markets 2. Very low growth opportunity	Expanding into new geographic markets 3. Some growth opportunity	Expanding into new geographic markets 4. Very high growth opportunity	Expanding into new geographic markets 5. Extremely high growth opportunity
Adding additional payer sources	Adding additional payer sources 1. No growth opportunity	Adding additional payer sources 2. Very low growth opportunity	Adding additional payer sources 3. Some growth opportunity	Adding additional payer sources 4. Very high growth opportunity	Adding additional payer sources 5. Extremely high growth opportunity
Adding new revenue streams	Adding new revenue streams 1. No growth opportunity	Adding new revenue streams 2. Very low growth opportunity	Adding new revenue streams 3. Some growth opportunity	Adding new revenue streams 4. Very high growth opportunity	Adding new revenue streams 5. Extremely high growth opportunity
Acquiring other Home Care companies in expanded markets	Acquiring other Home Care companies in expanded markets 1. No growth opportunity	Acquiring other Home Care companies in expanded markets 2. Very low growth opportunity	Acquiring other Home Care companies in expanded markets 3. Some growth opportunity	Acquiring other Home Care companies in expanded markets 4. Very high growth opportunity	Acquiring other Home Care companies in expanded markets 5. Extremely high growth opportunity
Leveraging innovation in technology to increase efficiency and reduce costs	Leveraging innovation in technology to increase efficiency and reduce costs 1. No growth opportunity	Leveraging innovation in technology to increase efficiency and reduce costs 2. Very low growth opportunity	Leveraging innovation in technology to increase efficiency and reduce costs 3. Some growth opportunity	Leveraging innovation in technology to increase efficiency and reduce costs 4. Very high growth opportunity	Leveraging innovation in technology to increase efficiency and reduce costs 5. Extremely high growth opportunity

Question Title

* 5. Based on your current model of business, which of the following payer sources will provide the greatest opportunity for growth in the next five years? Rate each payer sources on a scale of 1 to 5.

	1. No opportunity for growth	2. Very little opportunity for growth	3. Some opportunity for growth	4. Very high opportunity for growth	5. Extremely high opportunity for growth
Private Pay Home Care	Private Pay Home Care 1. No opportunity for growth	Private Pay Home Care 2. Very little opportunity for growth	Private Pay Home Care 3. Some opportunity for growth	Private Pay Home Care 4. Very high opportunity for growth	Private Pay Home Care 5. Extremely high opportunity for growth
Medicaid and Medicaid Waivers	Medicaid and Medicaid Waivers 1. No opportunity for growth	Medicaid and Medicaid Waivers 2. Very little opportunity for growth	Medicaid and Medicaid Waivers 3. Some opportunity for growth	Medicaid and Medicaid Waivers 4. Very high opportunity for growth	Medicaid and Medicaid Waivers 5. Extremely high opportunity for growth
Veterans Administration	Veterans Administration 1. No opportunity for growth	Veterans Administration 2. Very little opportunity for growth	Veterans Administration 3. Some opportunity for growth	Veterans Administration 4. Very high opportunity for growth	Veterans Administration 5. Extremely high opportunity for growth
Long Term Care Insurance	Long Term Care Insurance 1. No opportunity for growth	Long Term Care Insurance 2. Very little opportunity for growth	Long Term Care Insurance 3. Some opportunity for growth	Long Term Care Insurance 4. Very high opportunity for growth	Long Term Care Insurance 5. Extremely high opportunity for growth
Medicare Advantage Plans	Medicare Advantage Plans 1. No opportunity for growth	Medicare Advantage Plans 2. Very little opportunity for growth	Medicare Advantage Plans 3. Some opportunity for growth	Medicare Advantage Plans 4. Very high opportunity for growth	Medicare Advantage Plans 5. Extremely high opportunity for growth
Managed Care Organizations (MCO)	Managed Care Organizations (MCO) 1. No opportunity for growth	Managed Care Organizations (MCO) 2. Very little opportunity for growth	Managed Care Organizations (MCO) 3. Some opportunity for growth	Managed Care Organizations (MCO) 4. Very high opportunity for growth	Managed Care Organizations (MCO) 5. Extremely high opportunity for growth
Accountable Care Organizations (ACO)	Accountable Care Organizations (ACO) 1. No opportunity for growth	Accountable Care Organizations (ACO) 2. Very little opportunity for growth	Accountable Care Organizations (ACO) 3. Some opportunity for growth	Accountable Care Organizations (ACO) 4. Very high opportunity for growth	Accountable Care Organizations (ACO) 5. Extremely high opportunity for growth
Area Agency on Aging	Area Agency on Aging 1. No opportunity for growth	Area Agency on Aging 2. Very little opportunity for growth	Area Agency on Aging 3. Some opportunity for growth	Area Agency on Aging 4. Very high opportunity for growth	Area Agency on Aging 5. Extremely high opportunity for growth
Workers Compensation	Workers Compensation 1. No opportunity for growth	Workers Compensation 2. Very little opportunity for growth	Workers Compensation 3. Some opportunity for growth	Workers Compensation 4. Very high opportunity for growth	Workers Compensation 5. Extremely high opportunity for growth
Bank Trusts and Family Trusts	Bank Trusts and Family Trusts 1. No opportunity for growth	Bank Trusts and Family Trusts 2. Very little opportunity for growth	Bank Trusts and Family Trusts 3. Some opportunity for growth	Bank Trusts and Family Trusts 4. Very high opportunity for growth	Bank Trusts and Family Trusts 5. Extremely high opportunity for growth
Care paid directly by Hospitals to Home Care Companies	Care paid directly by Hospitals to Home Care Companies 1. No opportunity for growth	Care paid directly by Hospitals to Home Care Companies 2. Very little opportunity for growth	Care paid directly by Hospitals to Home Care Companies 3. Some opportunity for growth	Care paid directly by Hospitals to Home Care Companies 4. Very high opportunity for growth	Care paid directly by Hospitals to Home Care Companies 5. Extremely high opportunity for growth

Other (please specify)