Home health care is proving to be a sector that's growing - not slowing - in an economy that has many other industries drying up.
Vicki Karlovich, CEO of Springfield-based home health care provider Sacred Rose Healthcare, said the demand for new companies - in all aspects of home health - will not stop.
"Every time the economy shifts, it seems like home care has been a good industry to be in and people flood to the industry," she said. "Besides, people aren't going to stop getting sick, and Medicare still has to fund and take care of those people."
Neil and Yvonne Marshall first saw the writing on the wall two years ago. Neil Marshall, a 15-year veteran of the cabinet-building industry, realized that building was starting to slow.
The Marshalls discovered the potential in senior care services and purchased the Springfield franchise of Omaha, Neb.-based Home Instead Senior Care in May for an undisclosed amount from former owners Dallas and Trudy Johnson. The Springfield franchise covers Greene, Christian, Stone, Taney, Barry, Dade, Lawrence and Webster counties.
Their predictions have proven accurate thus far; the company, which offers nonmedical assistance such as meal preparation and housekeeping, has increased its caregiver ranks to 60 from 25 in May, and the local franchise boasts 54 clients, more than triple the number from eight months ago.
"I don't know if the pace will be quite that fast going forward, but senior populations are expected to double by 2050, so I definitely think we're near the bottom of the hill and going up," said Neil Marshall.
Marshall said another factor in the growth is the reprieve home health care offers to institutional hospitals or nursing homes.
"I just don't think the infrastructure is built to house those people in nursing homes or assisted living, so there will be a struggle to find places for them," Marshall said.
"I think that's where our industry can shine, in helping to keep people at home."
Posted: Monday, February 16, 2009
Article comment by:
Michael Fox
The state of the home health care industry is, indeed, mostly recession-proof. We develop and distribute technology for the home health care industry and have seen a rise in inquiries and business transactions over the past few months. Every week, new agencies are opening and the demand for home health care over hospital-based care is also on the rise.
