Overview

Home again: Demand for services will remain high, but cuts in federal funding threaten profitability

IBISWorld’s Home Care Providers in New York Industry Research Report offers insight into the market at the national level. Our analysis highlights macro trends in the overall sector and the micro trends faced by companies that do business in the Home Care Providers in New York industry. Our five-year outlook forecasts explain how the market is set to change and the product segments that will drive growth.

REPORT SNAPSHOT

Industry Threats & Opportunities

  • New York City accounts for about half of all industry revenue and establishments in the state
  • The preference by seniors across the state to remain in their homes has driven industry growth
  • The PPACA is expected to drive growth and induce significant changes in the industry landscape

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    Industry Analysis & Industry Trends

    An aging population, the prevalence of chronic disease, growing physician acceptance of home care, medical advancements and a movement toward cost-efficient treatment options from public and private payers have all fostered growth for the Home Care Providers industry in New York over the past five years. A continuation of similar trends over the five years to 2022 is expected to drive demand. The number of people aged 65 years and older in the state is expected to rise, along with the role of personal home care services in keeping vulnerable aging and disabled populations at home...

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    Industry Report - Starting a New Business Chapter

    Industry competition

    Barriers to entry for the Home Care Providers industry are low, as evidenced by the large number of industry players. The industry is highly fragmented, with an estimated 20,787 separate operators. Most segments of this industry are characterized by low capital costs (with the possible exception of the home respiratory therapy market segment) and the personalized nature of the services provided. These low capital costs make it relatively easy for a new company to enter the industry because, instead of large upfront investments in equipment or property, most industry costs are limited to those associated with labor, including wage and transportation costs.

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    Additional Insights for the Home Care Providers in New York Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Home Care Providers in New York 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 New York in the Home Care Providers in New York industry impact industry performance..

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    Industry Products

    What is the Home Care Providers in New York 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

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of adults aged 65 and older in New York
  • F405 Number of people with private health insurance in New York
  • Per Capita Disposable Income in New York

  • Current Performance
  • Elderly population and changing preferences spur growth
  • Funding sources and the PPACA
  • Chart: Revenue Growth

  • Industry Outlook
  • Tending to an aging population
  • Trends in healthcare reform
  • Table: Home Care Providers in New York Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Home Care Providers in New York Industry Lifecycle vs The Economy

  • Products & Markets
    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
  • Homemaker and personal services
  • Home therapy services
  • Other
  • Home hospice
  • Chart: Home Care Providers in New York Industry Products and Services Segmentation

  • Major Markets
  • Medicare
  • Medicaid
  • Private Insurance
  • Out-of-pocket payments
  • Other
  • Chart: Major Market Segmentation for the Home Care Providers in New York Industry

  • Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitPurchasesRent and utilitiesOther
  • Chart: Cost Structure Benchmarking – Sector vs Home Care Providers in New York

  • Basis of Competition
    Internal competitionExternal competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Home Care Providers in New York Industry

  • Major Companies
    Amedisys, Inc. Comfort KeepersHome Instead Senior CareInterim HealthCare Inc.The Linde Group
  • Table: Amedisys, Inc. - financial performance
  • Table: Comfort Keepers - financial performance
  • Table: Home Instead Senior Care - financial performance
  • Table: Interim HealthCare Inc. - financial performance
  • Table: The Linde Group - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Home Care Providers in New York Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

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

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Home Care Providers in New York Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • No. of adults aged 65 and older in New York (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    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 the computer systems of two businesses.
  • 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.
  • Why buy this report?

    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 New York:
    • 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 New York 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 New York, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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