The baby boom generation is driving the growth behind another “booming” industry – healthcare, specifically home health care for seniors.
- By 2030, one in five Americans will be a “senior citizen.” From 2010 through 2030, those aged 65-84 will increase by 80 percent, and those 85+ older will increase by 48 percent to seven million.
- Health care support occupations, such as home health care aides and nursing aides, accounted for 36 percent of the healthcare industry.
- Home health care companies in the US generate about $40 billion in revenue annually.
- Home services are delivered to 7.5+ million people, and of those receiving care, more than 68 percent are over age 65, and 62 percent are women.
- The number of clients paying privately for in-home care services surpassed Medicare spending in 2010.
- A survey by the American Association of Retired Persons (AARP) indicates that 84 percent of Americans want to stay in their present homes as they age.
- The US Department of Labor estimates that health care will generate 3 million new wage and salary jobs over the next ten years — more than any other industry — and that employment in the home health industry will increase by 55+ percent by 2016. For entrepreneurs looking for a growth business that only promises to follow an upward trend over the next several decades, senior home health care is a sure bet.