The Future of Home Care Sales: Trends to Watch
Challenges and opportunities business development teams should keep in mind as they seek new home care clients in 2023
Healthcare has been permanently changed by the pandemic. Even as the federal state of emergency ends, new consumer preferences and modes of delivery remain. Home care agencies now have a new slate of global changes to contend with, including the cost-of-living crisis and the labor shortage.
None of these challenges are insurmountable for an agency resolved to succeed, and many changes present fresh opportunities. Check out these nine trends your home care sales team should understand in order to grow your business.
The 4 overriding trends
There are four major trends that home care agencies should be aware of:
- An aging population will require care: As all home care providers are aware, the aging U.S. population means more people will require care in the coming years. And according to an AARP survey, 77% of adults 50 and older want to stay in their homes long-term.
- Rapid adoption of tech in healthcare presents obstacles and opportunities for home care agencies.
- Money matters: Healthcare consumers, especially older ones, are increasingly concerned about cost.
- The ongoing labor shortage will make it difficult for agencies to attract and retain the talent they need to grow—and in some cases sustain—their business.
5 of the most important home care sales trends of 2023
1. Inflation and the rising cost of home care will press on consumers’ ability to afford services
Almost half of Americans say they have trouble affording healthcare costs, and “substantial” numbers of people over 65 say it’s difficult to pay for care, especially services not covered by Medicare, according to the Kaiser Family Foundation.
Agency business leaders will have to work hard to craft affordable service offerings, design payment plans, make financial counseling available, and write marketing messages that reflect cost consciousness. Home care sales teams will have to approach potential clients with this in mind, preparing to be the first line of financial counseling.
2. Preference for in-home care
More adults are choosing to age in place, due in part to the cost of residential care facilities. Plus, the proliferation of telehealth options showed many people that home health and aging in place was possible: research and consulting firm McKinsey called the pandemic “a catalyst” for healthcare patients “to truly reimagine their future.” Representatives won’t have to do as much persuading that home care is a viable option, but they will have to make the case that it is financially sustainable.
Care for chronic conditions will also be in demand. Forty-one percent of adults in the U.S. delayed getting the healthcare they needed during the Covid crisis. Deferring care can exacerbate existing conditions and create an environment for preventable ones.
3. Preference for telehealth
Not only do consumers like telehealth options—telehealth use was 38x higher in 2021 than it was in the year before—in some cases they prefer it. This can create challenges for home care agencies that aren’t equipped to provide remote patient monitoring, or RPM, and they risk losing business to home care providers that are.
Business leaders need to add new RPM capabilities, and home care sales staff need to develop new strategies to sell. Older clients who aren’t as confident operating tech tools on their own will need reassurance and training, and reps should be equipped to provide demos.
The challenge will be winning new older telehealth clients through referral sources, like hospital discharge coordinators, who aren’t as familiar with your services. Business development teams should prepare to train coordinators, and marketing will have to develop easy-to-follow print collateral.
4. Data privacy concerns, especially in healthcare
With the increased use of tech in healthcare comes increased concern for data privacy. Some consumers are willing to sever their relationships with healthcare providers over privacy concerns. Data security measures must be central messages to potential home care clients.
Home care agencies are wise to invest in cyber security for the sake of their balance sheet as well. Healthcare remains the costliest industry for data breaches, and per the Center for Internet Security, “the average cost of a data breach incurred by a non-healthcare related agency, per stolen record, is $158. For healthcare agencies the cost is an average of $355.
5. The continuing labor shortage
Some agencies will want to grow their home care business faster than their staff can support. The labor shortage is acutely felt in healthcare, and especially in home healthcare, where jobs tend to pay less and provide less flexibility. Home care sales in 2023 will depend on your agency’s ability to provide care to incoming patients.
To keep pace and attract qualified caregivers, provide exceptional employee experience, robust benefits packages, upskilling opportunities, and competitive pay. Salary increases may need to precede business growth. While you wait on staff to grow, invest in telehealth options to keep pace with the competition.
Adapting to home care trends doesn't have to be difficult
Whether it's getting you the caregivers you need or helping clients find your home care services, Home Care Marketing Pros' Marketing in a Box services can get you there. Find out more about what we can do by booking a call!
