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Uptick Shows Signs of A Shift
During the years of 2016 & 2017, the overall usage nationwide of home health care and hospice services both experienced a significant uptick, with several millions of additional Medicare beneficiaries receiving care. Examining the most recent data pulled from Medicare Part A and Medicare Part B claims, there were nearly 58 million Medicare beneficiaries living in the United States by December 2017. This number was representative of a roughly 2 percentage points increase in the population compared to the year 2016. It is now estimated that within the next 30 years, the overall number of enrolled beneficiaries approach 93 million. These numbers offer economic opportunity for home health agencies, hospice care facilities, EVV and home health software providers, aides and other players within the market.