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

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...read more.

Industry Statistics & Market Size
Revenue
$11bn
Annual Growth 12-17
4.2%
Forecast Growth 17-22
Profit
Employment
231,397
Businesses
21,105

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
  • Industry Report - Industry Key Buyers Chapter

    The Home Care Providers industry is highly fragmented: IBISWorld expects the four largest industry companies to generate less than 2.0% of industry revenue in 2017. As hospitalization costs have increased and aging consumers have embraced the home healthcare trend, many new operators have entered the industry over the past five years. The total number of industry operators has grown at an annualized rate of 3.1% during this period...purchase to read more.

    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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    What's in this report

    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

    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 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

  • 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
    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

  • Amedisys, Inc., Comfort Keepers, Home Instead Senior Care, Interim 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

  • 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
    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
    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.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s industry research report on Home Care Providers in New York contains five-year forecasts and data analysis that can help you identify and mitigate risks in potential new markets. Position yourself as an expert with internal stakeholders by using our comprehensive industry research to inform your reports, proposals and presentations. Our business information will save you money by helping you make better decisions, faster.

    IBISWorld industry market research reports enable you to:
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    • Identify threats and opportunities
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    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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