US Post-Acute Care Market Size By Type (Skilled Nursing Facilities, Home Health), By Application (Elderly, Adult, Child), And Forecast
Published on: 2024-08-03 | No of Pages : 320 | Industry : latest updates trending Report
Publisher : MIR | Format : PDF&Excel
US Post-Acute Care Market Size By Type (Skilled Nursing Facilities, Home Health), By Application (Elderly, Adult, Child), And Forecast
US Post-Acute Care Market Size And Forecast
US Post-Acute Care Market size was valued at USD 394.01 Million in 2023 and is projected to reach USD 531.29 Million by 2031, growing at a CAGR of 4.20% from 2024 to 2031.
- US Post-Acute Care (PAC) refers to a variety of medical services that help patients transition from acute hospital care to home or other care settings. It comprises services like skilled nursing, rehabilitation, and home health care, which are intended to help patients recover from sickness or surgery and manage chronic health disorders.
- The use of PAC is crucial for improving patient outcomes, lowering hospital readmissions, and ensuring a smooth transition of care. With an aging population and a rising prevalence of chronic diseases
- The future scope of PAC is broad, including advances in telehealth, individualized care plans, and integrated care models to improve efficiency, accessibility, and quality of care for patients in a variety of settings.
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US Post-Acute Care Market Dynamics
The key market dynamics that are shaping the US Post-Acute Care Market include
Key Market Drivers
- Aging Population The US population is rapidly aging, with a large increase in the number of older people requiring post-acute care. This demographic shift increases demand for a variety of PAC services, such as skilled nursing facilities, home health care, and rehabilitation services, as older persons frequently require extended care following hospitalization or chronic illness management.
- Prevalence of Chronic DiseasesThe increasing prevalence of chronic illnesses such as diabetes, heart disease, and respiratory disorders demands regular medical treatment and rehabilitation programs. Post-acute care is critical in managing these chronic diseases because it provides patients with the essential assistance following acute episodes and helps to reduce hospital readmission.
- Healthcare Policy and Reimbursement Changes Value-based care and bundled payment programs encourage efficient and effective post-acute care. These regulations encourage healthcare professionals to prioritize patient outcomes and cost-effective care transitions, resulting in increased demand for high-quality PAC services.
- Technological AdvancementsMedical technology, telehealth, and remote monitoring advancements are altering the post-acute care scene. These developments allow for greater care coordination, real-time patient monitoring, and tailored care plans, which improves patient outcomes and operational efficiency in PAC settings. As technology advances, the possibilities and reach of post-acute care services expand.
Key Challenges
- Fragmented Care ContinuityOne of the most critical difficulties in the US post-acute care industry is the lack of continuity of care between acute hospital settings and PAC providers. This can lead to communication breakdowns, inconsistencies in care plans, and significant patient safety risks. Coordinating care across many providers and venues necessitates strong procedures and protocols, which are frequently absent.
- Workforce Shortages The post-acute care sector is experiencing a rising scarcity of trained healthcare professionals, such as nurses, therapists, and home health aides. This shortfall puts a pressure on the existing personnel, reduces care quality, and inhibits PAC facilities’ ability to handle rising demand. The recruitment, training, and retention of qualified employees are continual difficulties.
- Regulatory and Compliance Pressures The post-acute care sector is subject to stringent regulations and compliance requirements at both the federal and state levels. Navigating these complicated laws can be difficult for providers, necessitating extensive administrative resources and experience. Compliance with quality reporting, reimbursement requirements, and patient care standards is necessary yet difficult.
- Financial Constraints Many post-acute care providers face narrow profit margins. Changes in reimbursement rates, late payments from insurers, and the expensive cost of deploying new technology and maintaining buildings can all cause financial difficulties. Ensuring sustainability while providing high-quality care necessitates prudent financial management and adaptability to changing payment patterns.
Key Trends
- Integration of Telehealth and Remote MonitoringTelehealth and remote patient monitoring are becoming increasingly popular in the US post-acute care sector. These technologies allow for continuous patient care and assistance outside of traditional care venues, including real-time health data collecting, virtual consultations, and timely interventions. This trend increases patient participation, lowers hospital readmission rates, and improves overall care coordination.
- Value-Based Care ModelsThe transition to value-based care models is changing the post-acute care landscape. These models prioritize patient outcomes and cost-effectiveness over the volume of services given. As a result, PAC providers are increasingly embracing methods that improve treatment quality, increase patient satisfaction, and lower costs, in line with reimbursement models that encourage positive outcomes and effective care delivery.
- Expansion of Home-Based Care ServicesThere is an increasing trend of delivering post-acute care services to patients at home. Home-based care, which includes home health care and home rehabilitation, provides a patient-centered approach that improves comfort, lowers the risk of infections associated with facility-based care, and is frequently more cost effective. This movement is being driven by patient preferences, technological developments, and regulatory support for home health care.
- Focus on Chronic Disease ManagementAs chronic diseases become more prevalent, post-acute care providers are emphasizing chronic disease management. This entails creating complete care plans that include education, lifestyle changes, medication management, and ongoing monitoring. By emphasizing proactive and preventative therapy, PAC doctors hope to enhance long-term health outcomes while decreasing the number and severity of acute episodes.
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US Post-Acute Care Market Regional Analysis
Here is a more detailed regional analysis of the US Post-Acute Care Market
- The post-acute care market, notably in the United States, is expanding rapidly due to population trends, legislative reforms, and shifting patient preferences. The aging population, with an increasing number of adults over 65, is a main factor contributing to the increased need for post-acute care services such as skilled nursing facilities, home health care, and inpatient rehabilitation.
- The market is also being shaped by regulatory developments, including as changes in Medicare reimbursement policies, which emphasize value-based treatment and quality results. This has resulted in increased investment in innovative technology and care models that improve patient outcomes and operational efficiency.
- Furthermore, the increasing frequency of chronic diseases and the demand for specialist post-operative care are driving market growth. Major metropolitan regions have a higher concentration Healthcare institutions and providers are particularly experiencing strong expansion.
- However, rural areas have issues such as limited access to care and labor shortages, which are being addressed through telemedicine and policy measures targeted at enhancing healthcare delivery in neglected areas.
US Post-Acute Care MarketSegmentation Analysis
The US Post-Acute Care Market is Segmented on the basis of Type, and Application.
US Post-Acute Care Market, By Type
- Skilled Nursing Facilities
- Home Health
Based on Type, the US Post-Acute Care Market is segmented into Skilled Nursing Facilities, and Home Health. Skilled nursing facilities dominate the market because they provide complete care for patients who require rigorous medical supervision and rehabilitation. This dominance is due to the strong need for inpatient care among the elderly and people with serious illnesses. Home health is the fastest-growing area, because to rising demand for in-home care and advances in telehealth technology.
US Post-Acute Care Market, By Application
- Elderly
- Adult
- Child
Based on Application, the US Post-Acute Care Market is segmented into Elderly, Adult, and Child. The geriatric segment is the most popular application due to the significant need for long-term care and rehabilitation services among the elderly. This segment’s domination is due to the growing number of people over the age of 65 who require post-acute care. The adult population is the fastest expanding sector, driven by increased chronic disease rates and the need for post-operative care.
Key Players
The “US Post-Acute Care Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are Kindred Healthcare, Genesis Healthcare, Inc., Brookdale Senior Living Inc., Santé, Amedisys, Inc., and LHC Group Inc.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.
US Post-Acute Care MarketRecent Developments
- In January 2024, Clarest Health, a leading personalized medication management provider, said that it has acquired Remedi Senior Care, a long-term and post-acute care pharmacy services provider, providing the firm the size and scale it needs to dominate the post-acute care industry. The US pharmacy care market for post-acute patients is $5.7 billion, while the US Rx fill market for medically complicated patients is $115 billion.1 The financial specifics of the acquisition were not disclosed.
- In January 2024, PointClickCare Technologies has acquired American HealthTech, Inc. (AHT), a subsidiary of Computer Programs and Systems, Inc. (NASDAQCPSI) and a leading provider of electronic health record (EHR) solutions and related services for the post-acute care market. The acquisition allows for meaningful collaboration and access to real-time insights throughout the patient’s healthcare journey. CPSI, a community healthcare solutions firm, announced the divestiture of AHT and chose PointClickCare to continue serving AHT customers in the future.
Report Scope
REPORT ATTRIBUTES | DETAILS |
---|---|
STUDY PERIOD | 2020-2031 |
BASE YEAR | 2023 |
FORECAST PERIOD | 2024-2031 |
HISTORICAL PERIOD | 2020-2022 |
UNIT | Value (USD Million) |
KEY COMPANIES PROFILED | Kindred Healthcare, Genesis Healthcare, Inc., Brookdale Senior Living Inc., Santé, Amedisys, Inc., and LHC Group Inc |
SEGMENTS COVERED |
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CUSTOMIZATION SCOPE | Free report customization (equivalent to up to 4 analyst working days) with purchase. Addition or alteration to country, regional & segment scope. |
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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
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