Home healthcare services are medical care provided by both certified and unskilled healthcare workers in the ease and convenience of the patient's home. In addition to his the services offered are Post-Acute Care, Palliative Care, Hospice Care, Nursing Care/Wellness Checks, Specialized Care (Alzheimer's & Dementia Care, Recuperative Care, Stroke Recovery, and so on), companionship Care, Personal Care, and Other Services (Meals and Nutrition Planning, Pharmaceutical Services, 24-hour Monitoring/Live-in Care, Laboratory and Medical imaging Tests).

Favorable coverage and investment by private equity companies are driving the Home Healthcare Services Market
In large markets such as the United States, Medicare Part A (Hospital Insurance) and/or Medicare Part B (Medical Insurance) cover eligible home health services as long as patients are homebound and require part-time or intermittent skilled assistance. A home health care organization, in general, arranges for the services ordered by the patient's doctor or approved practitioner. Home health care agencies must be Medicare-certified.

In addition, the Centers for Medicare & Medicaid Services (CMS) expects that Medicare payments to home health agencies (HHAs) would increase by 0.7% in CY 2023 compared to CY 2022.

Several private equity firms have begun to engage in the area, citing the lucrative opportunities. For instance,

· In May 2022, Bow River Capital, a private equity firm completed a strategic investment in Amazing Care, a leading provider of pediatric home health services.

· In Jan 2022, Health Care At Home India Pvt Ltd (HCAH), a home healthcare services provider secured $15 million from Singapore-based private equity fund ABC World Asia

The Home Healthcare Services Market is being fueled by the rising use of artificial intelligence (AI) in home healthcare.
In recent years, the application of AI in home healthcare has resulted in a paradigm shift in how patients and healthcare practitioners approach and deliver healthcare to patients. AI-powered sensors continually check a patient's biometrics for health. Any variations in readings can be immediately sent to the relevant caregiver or agency. AI-powered mobile applications also help with preventative care by monitoring and regulating medical conditions such as obesity, diabetes, and cardiac difficulties, as well as keeping food and nutrition records, delivering reports, and informing concerned caregivers/physicians if deviations occur. AI-based AI voice assistants may also aid with medicine reminders, vital sign monitoring, and appointment scheduling.

“……The prominence of AI in the home healthcare services market is expected to grow manifolds in the coming years……AI has the potential to manage complex care plans, streamline operations of home care agencies by optimizing the scheduling and routing of caregivers, and help in data-driven decision-making..”

- Director, Home Healthcare Service Provider, U.S.

Home Healthcare Services Market Competitive Landscape Analysis
Some of the key firms operating in the market include Amedisys, LHC Group (Acquired by UnitedHealth Group), AccentCare, Elara Caring, Interim HealthCare, VITAS Healthcare, James River Home Health, Home Helpers Home Care, Virginia Kares Home Care Services, Companion Extraordinaire Home Care Services, among others.

Organic and inorganic growth strategies used by companies to get a foothold in the home healthcare services market
Players in this market are adopting organic and inorganic expansion techniques such as purchasing comparable firms, making partnerships, and providing new services to enhance market share. For instance,

· In July 2023, PurposeCare, a leading provider of coordinated home care and home health services in the Midwestern United States acquired three Midwest home care agencies in the Indiana and Ohio markets to expand its footprint

· In Feb 2023, UnitedHealth acquired LHC Group, an in-home healthcare service provider. LHC is now part of UnitedHealths’ health services division Optum

Home Healthcare Services Market is expected to gain traction in the coming years as a result of the advantages provided by at-home healthcare services such as convenience, cost-effectiveness, hassle-free appointments, personalized attention by the caregiver, reduced risk of infection or virus transmission, government support for home healthcare services in key markets, and aggressive organic and inorganic growth strategies employed by players.

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