Staying in: A quickly rising elderly population and high disposable income levels supported state revenue

The Home Care Providers industry in Minnesota provides individuals that are unable to live completely independently with a home-based and cost-effective alternative to institutional care, such as extensive nursing home or hospital stays. In Minnesota, the typical cost for one year of home health aide services was $61,776 in 2017, according to Genworth Financial's Cost of Care Survey. At the same time, residents that chose instead to seek care at a nursing home facility (while also opting for a private room) spent an average of $107,854 for one year of care. Since Minnesota's per capita disposable income is higher than the national average, residents are better able to afford home-based care in place of intrafamily care...purchase to read more.

Industry Statistics & Market Size
Revenue
$2bn
Annual Growth 13-18
5.5%
Forecast Growth 18-23
Profit
Employment
44,332
Businesses
3,502

Industry Threats & Opportunities

  • More elderly individuals are anticipated to require care from personal care and healthcare providers alike
  • Industry Report - Industry Key Buyers Chapter

    •The Home Care Providers industry in Minnesota has a very low level of market share concentration, primarily due to the high number of nonemployers.•In 2018, the four largest operators in the industry are expected to make up less than 1.0% of industry revenue.•At the same time, IBISWorld estimates over 75.0% of the industry’s 3,502 establishments are owned by nonemployers...purchase to read more.

    Additional Insights for the Home Care Providers in Minnesota Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Home Care Providers in Minnesota Industry are

  • Recommendation/accreditation from authoritative sources
  • Effective quality control
  • Ability to take advantage of government subsidies and other grants
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of adults aged 65 and older in Minnesota in the Home Care Providers in Minnesota industry impact industry performance..

    shopping_cartPURCHASE OPTIONS

    What's in this report

    What is the Home Care Providers in Minnesota Industry?

    Companies in this industry primarily provide services in the home. These services may be medical or nonmedical and include skilled-nursing care, personal care, homemaker and companion services, physical therapy and medical social services. This industry also includes in-home hospice care providers.

    Industry Products
  • Traditional home healthcare and home nursing care
  • Home hospice
  • Home therapy services
  • Homemaker and personal services
  • Industry Activities
  • Providing homemaker and companion services
  • Administering in-home physical therapy
  • Providing in-home hospice care
  • Providing 24-hour home care
  • Administering in-home occupational and vocational therapy
  • Providing in-home dietary and nutritional services
  • Administering speech therapy
  • Providing in-home medical care
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of adults aged 65 and older in Minnesota
  • Number of people with private health insurance in Minnesota
  • Per capita disposable income in Minnesota

  • Current Performance
    Industry Outlook
    Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Home Care Providers in Minnesota Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Health & Medical Insurance
  • Primary Care Doctors
  • Specialist Doctors
  • Hospitals
  • Retirement Communities
  • Consumers

  • Key Selling Industries
  • Administration of Government Programs
  • Brand Name Pharmaceutical Manufacturing
  • Employment & Recruiting Agencies
  • Generic Pharmaceutical Manufacturing
  • Glasses & Contact Lens Manufacturing
  • Medical Instrument & Supply Manufacturing
  • Medical Supplies Wholesaling

  • Products & Services
  • Traditional home healthcare and home nursing care
  • Home hospice
  • Homemaker and personal services
  • Home therapy services
  • Other
  • Chart: Home Care Providers in Minnesota Industry Products and Services Segmentation

  • Major Markets
  • Medicare
  • Medicaid
  • Private insurance
  • Out-of-pocket payments
  • Third-party payers
  • Other
  • Chart: Major Market Segmentation for the Home Care Providers in Minnesota Industry

  • Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Home Care Providers in Minnesota

  • Basis of Competition
    Barriers to Entry
    Always Best Care Senior Services, Comfort Keepers, HealthStar Home Health, Home Instead Senior Care, Kindred Healthcare LLC,
  • Table: Always Best Care Senior Services - financial performance
  • Table: Comfort Keepers - financial performance
  • Table: HealthStar Home Health - financial performance
  • Table: Home Instead Senior Care - financial performance
  • Table: Kindred Healthcare LLC - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Home Care Providers in Minnesota Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Home Care Providers in Minnesota Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • Adults 65 years and over (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Chronic Disease Management
  • A system of coordinated healthcare interventions and communications for populations with long-term conditions in which patient self-care is significant.
  • Durable Medical Equipment (Dme)
  • Medical equipment used in the course of treatment or home care.
  • Electronic Data Interchange (Edi)
  • The transmission of electronic documents between businesses from one computer system to another.
  • Home Infusion Therapy
  • The administration of medication through a needle or catheter.
  • Homemaker And Companion Services
  • Helping patients with shopping, preparing and serving meals, housekeeping, taking clients to appointments and other daily chores.
  • Hospice
  • A program or facility that provides special care for people who are near the end of life and for their families
  • Personal Care Services
  • Nonskilled assistance provided to individuals in their homes, such as bathing, dressing and light housework.
  • Telehealth
  • The delivery of health-related services and information between patients and providers via telecommunications technologies.
  • What Our Customers Say

    Why buy this report?

    The Home Care Providers in Minnesota industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Home Care Providers in Minnesota:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Home Care Providers in Minnesota market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Home Care Providers in Minnesota, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

    Contact Us

    Want to speak to a representative? Call us.

    clear