Data and statistics that will influence the medical transportation and home care industries

For those who know me, I love numbers and statistics because they never lie and they always tell a story.  They’re the best illustration to tell if you’re profitable, if you’re losing money, where potential opportunities are, and much more.  Similarly, based upon the history of your data, you can make many calculated projections for your future activities.  That’s why I’m always willing to invest in and even pay for targeted data and analysis.

The following data and statistics are taken from the US Census Bureau and US Bureau of Labor and Statistics. Rather than me say anything about these incredible statistics, I’m going to let you draw your own conclusions.

1. Over the last 5 years, real median income has declined nearly 9% from $54,489 at the end of 2007 to $50,020 at the beginning of 2012.

2. Over the last 5 years, the cost of living has continued to rise as the commodity price index (food, fuel, and other essential commodities) rose 20% from December 2007 until September 2012.

3. Over the last 5 years, the number in poverty has increased by nearly 31% to 49.7 million with the poverty rate climing by over 30% to 16.1%.

4. Over the last 5 years, the economy has grown at an average annual rate of 0.6%, less than 1/5th the long term American growth rate.

5. During the first four years of the recession, between May 2007 and May 2011, the US health system added 1.149 million workers.

6. Hospital employment rose by 4.4% from mid-2007 to mid-2011.

7. Home care employment, “THE FASTEST GROWING SECTOR,” grew by an astonishing 24% between 2007 and 2011.

8. Between 2007 and 2011, outpatient care centers such as imaging, surgical, physical therapy, dialysis, etc. experienced a 21% increase.

9. Between 2007 and 2011, community care facilities for the elderly, such as assisted living facilities, experienced a 17% increase.

The following excerpts are from the Dayton Daily News:

Fifteen years ago 90% of Medicaid reimbursements for long-term care went toward nursing homes; today that figure has been reduced to 58%, with more and more
seniors staying in their homes with the help of home health care and other direct services.

That’s very significant when you compare the cost – $60,000 a year for nursing homes as compared with less than $20,000 for home care.

As the population ages, more jobs are created in the health care field.  But more importantly, it enriches families when we are able to care for our elders, and the family unit is strongest when generations are able to interact with each other.  We want our society to think about aging as an exciting, normal part of life where decline is not inevitable.   

Excerpt from The Washington Post article titled Home Health Aides Serve a Growing Population; Here’s What You Need to Know

The demand for home care aides, also known as personal care aides and home health aides, is skyrocketing as the number of seniors continues to grow.  The Department of Labor projects that in-home assistance will be the nation’s fastest-growing occupation by 2020.  Those workers help seniors, the infirm and people with intellectual or developmental disabilities with personal hygiene, taking medication, preparing meals, doing household chores and other tasks.

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