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2020 Study SnapShot Report

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2020 Home Care Benchmarking Study

2020 Study SnapShot Report

The SnapShot will give you a preview of the rich insights found in the 2020 Study.

Order Now

EXECUTIVE SUMMARY

A brief introduction to the 2020 Home Care Benchmarking Study, with articles from Erik Madsen, CEO of Home Care Pulse, and Vicki Hoak, Executive Director of the Home Care Association of America. Also included in this section is an overview of the participants in the survey including years in business, provider type, geographic location, and annual revenue.

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1.1 Total Participation
1.6 Participation by Years in Business
1.7 Participation by US State

What else is in the Executive Summary?

  • Historical Total Participation

  • Historical New Provider of Growth – 5 Year Range

  • Historical Participation by Provider Type

  • Historical Participation by Number of Locations

  • Participation by Populations Served

  • Participation by Years in Business

  • Participation by U.S. State & Canada

  • Participation by Revenue Range

  • Home Care Pulse Satisfaction Management Program Users Participation

  • Participation by Participant Position Title

  • Membership in Associations

  • Masters Participation by Provider Type

  • Masters Participation by Number of Locations

  • Masters Participation by Population Served

  • Masters Participation by Years in Business

  • Masters Participation by Geographic Region

SALES & MARKETING SUMMARY

The Sales and Marketing section contains a wide array of information about client acquisition, including the top channels for consumer marketing and referral marketing. Home care agencies use a variety of strategies and channels to find new clients; this section dissects the use of these strategies and helps provide insight into the marketing methods that are available.

2.1 2019 Top 10 Consumer Marketing Sources
2.3 2019 Top 10 Referral Sources

What else is in Sales & Marketing?

  • Top 10 Consumer Marketing Sources – Overall

  • Top 5 Consumer Marketing Sources – Masters

  • Top 10 Referral Sources/Methods – Overall

  • Top 3 Referral Sources/Methods – Masters

  • Number One Consumer & Referral Marketing Sources for 2019

  • Top 5 Growth Opportunities for 2020

  • Agencies That Anticipate Benefiting from Medicare Advantage Plans in 2020

  • Inquiry Tracking Comparison – Median Revenue

  • Higher Inquiry-to-Admission Ratio vs. Low – Median Revenue

  • Sales Close Numbers for 2019 – Percentile Ranking

  • Sales Close Ratios for 2019 – Percentile Ranking

  • Sales Close Numbers for 2019 – Revenue Ranges

  • Sales Close Ratios for 2019 – Revenue Ranges

  • Annual Number of Inquiries – Home Care Pulse® Satisfaction Management Users vs. Non-Users

  • Historical Median Client Growth Rates

  • Client Growth Rates for 2019 – Revenue Ranges

  • Client Growth Rates for 2019 – Geographic Region

  • Historical Median Client Acquisition Costs

  • Client Acquisition Costs for 2019 – Geographic Region

  • Client Acquisition Costs for 2019 – Percentile Ranking

  • Employed a Referral Sales Representative

  • Agency Median Revenue Based on Sales Representative Employment

RECRUITMENT & RETENTION SUMMARY

As caregiver shortages become an ever-increasing issue in the industry, it’s more important than ever to take a data-driven approach to staffing that helps minimize turnover costs, focus on the optimal recruitment sources, and save time and money wherever possible. The data in this section is designed to help you understand what other agencies are doing to succeed, which practices are most common, and which challenges are most relevant to your geographic region.

3.4 Top Caregiver Recruitment Sources by Caregiver Acquisition Cost
3.7 Median Hiring Conversions
3.26 Historical Median Hourly CG Pay
3.45 Caregiver Benefits Provided

What else is in Recruitment & Retention?

  • Top 10 Caregiver Recruitment Sources/Methods

  • Top 10 Caregiver Recruitment Sources/Methods for 2019 – Masters

  • Top Caregiver Recruitment Sources for 2019 – Median Caregiver Turnover

  • Top Caregiver Recruitment Sources for 2019 – Median Caregiver Acquisition Cost

  • Historical Impact of Caregiver Shortages

  • Impact of Caregiver Shortages for 2019 – Geographic Regions

  • Median Hiring Conversions for 2019

  • Median Caregiver Turnover Rate

  • Caregiver Turnover Rate for 2019 – Percentile Ranking

  • Caregiver Turnover Rate for 2019 – Geographic Region

  • Caregiver Turnover Rate for 2019 – Revenue Range

  • Caregiver Turnover Rate by Caregiver Wages for 2019

  • Median Caregiver Turnover Rate – Geographic Region

  • Revenue Per Caregiver Employee for 2019 – Percentile Ranking

  • Revenue Per Caregiver Employee – Percentile Ranking

  • Median Revenue Per Caregiver Employee for 2019 – Geographic Region

  • Median Revenue Per Caregiver Employee for 2019 – Revenue Ranges

  • Revenue Per Caregiver Employee – Agencies Using a Blended Training Methods vs. Agencies Using Traditional Training Methods

  • Revenue Per Caregiver Employee – Orientation Training Hours

  • Caregiver Turnover for 2019 – Caregiver Wages Comparison

  • Historical Median Hourly Caregiver Pay Ranges

  • Historical Live-In Caregiver Pay Ranges

  • Live-In Caregiver Pay Ranges for 2019 – Geographic Regions

  • Caregiver Wages by Geographical Region

  • Number of Orientation Training Hours

  • Number of Ongoing Training Hours

  • Number of Orientation Training Hours – Revenue Range

  • Number of Orientation Training Hours for 2019 – Geographic Regions

  • Number of Ongoing Training Hours for 2019 – Revenue Range

  • Number of Ongoing Training Hours for 2019 – Geographic Regions

  • What Attracted Caregivers to the Profession

  • What Caregivers View as the Most Difficult Aspects of Their Job

  • Percent of Providers Using a Professional Training Program

  • Top 10 Professional Training Programs

  • Percentage of Agencies Providing Caregiver Benefits

  • Caregiver Benefits Provided for 2019 – Overall & Revenue Ranges

  • Caregiver Acquisition Cost for 2019 – Number of Caregivers Employed

  • Caregiver Benefits Provided for 2019 – Number of Caregivers Employed

FINANCE SUMMARY

The Finance section provides insight into the financial workings of home care providers in the home care industry. It contains many data points dealing with revenue, expenses, billing rates, and payer sources. The insights in this section are useful in comparing the finances of your business relative to the finances of other providers in your region, your revenue range, or the industry as a whole.

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4.3 Revenue Percentile Rankings for 2019
4.14 Profit & Loss Comparison

What else is in Finance?

  • Historical Revenue Percentile Rankings

  • Revenue Percentile Rankings for 2019 – Masters

  • Revenue Percentile Rankings for 2019 – Years in Business

  • Revenue Percentile Rankings for 2019 – Population Served

  • Revenue Percentile Rankings for 2019 – Geographic Region

  • Historical Median Revenue

  • Median Revenue for 2019 – Geographic Region

  • Median Revenue for 2019 – Number of Locations

  • Median Revenue for 2019 – Population Served

  • Historical Median Revenue – HCAOA Members vs. Non-Members

  • Historical Median Revenue – Home Care Pulse Satisfaction Management Program Users vs. Non-Users

  • Profit & Loss Comparison for 2019 – Geographic Region

  • Profit & Loss Comparison for 2019 – Number of Locations

  • Profit & Loss Comparison for 2019 – Revenue Ranges

  • Sales & Marketing Expenses Percentile Ranking for 2019 – Revenue Ranges

  • Recruitment & Retention Expenses Percentile Ranking for 2019 – Revenue Ranges

  • Historical Revenue Generated by Service Offerings

  • Historical Payer Source Percentage of Revenue

  • Historical Median Weekly Billable Hours

  • Service Billing Methods for 2019

  • Historical Length of Visit Median Billing Rates

  • Length of Visit Median Billing Rates for 2019 – Percentile Ranking

  • Length of Visit Median Billing Rates for 2019 – Geographic Region

  • Caregiver Skill Level Billing Rates for 2019 – Percentile Ranking

  • Caregiver Skill Level Billing Rates for 2019 – Geographic Region

  • Percent of Providers Offering Live-In Care

  • Live-In Care Billing Rates

  • Live-In Care Billing Rates for 2019 – Geographic Region

  • Initial Investment to Start Agency for 2019

OPERATIONS SUMMARY

The Operations section of the 2020 Benchmarking Study provides information about topics like client turnover rates, staffing summaries, and annual salaries for staff members. It is useful in making decisions related to the internal management of your home care agency.

5.10 Historical Client Avg Length of Service
5.26 Median Office Staff Annual Salaries
5.27 Office Staff Turnover

What else is in Operations?

  • Service Offerings – Overall for 2019

  • Service Offerings for 2019 – Revenue Ranges

  • Service Offerings for 2019 – Geographic Regions

  • Specialty Services Offered in 2018

  • Actions Taken to Become a Specialist Care Provider in 2018

  • Client Turnover Rate for 2019 – Percentile Ranking

  • Client Turnover Rate for 2019 – Revenue Ranges

  • Client Turnover Rate for 2019 – Geographic Region

  • Client Average Length of Service for 2019 – Industry & Masters

  • Client Average Length of Service – Percentile Ranking

  • Client Average Length of Service for 2019 – Revenue Ranges

  • Client Average Length of Service for 2019 – Years in Business

  • Client Average Lifetime Value – Percentile Ranking

  • Client Average Lifetime Value – Revenue Range

  • Percentage of Providers Tracking Hospital Readmission Rates for 2019

  • Methods of Tracking Hospital Readmission Rates

  • Hospital Readmission Rate for 2019 – Percentile Ranking

  • Sales per Full-Time Employee – Revenue Ranges

  • Sales per Full-Time Employee for 2019 – Geographic Region

  • Weekly Billable Hours per Care Coordinator

  • Weekly Billable Hours per Non-Caregiver Employee

  • Number of Caregivers to Care Coordinator Ratio

  • Number of Office Staff Employed

  • Staffing Summary for 2019 – Overall & Revenue Ranges

  • Staffing Summary for 2019 – Geographic Regions

  • Office Staff Annual Salaries

  • Office Staff Turnover for 2019 – Overall & Revenue Ranges

  • Median Office Staff Turnover – Geographic Regions

  • Provided Office Staff Benefits

  • Office Staff Benefits Provided in 2019 – Overall & Revenue Ranges

  • Top 5 Threats Facing Home Care Providers in Coming Year

  • Top Goals Included in Provider’s 5-Year Plans

  • COVID-19 Impact – Top Threats

  • COVID-19 Impact – Net Change in Demand for Home Care Services

  • COVID-19 Impact – Net Change in Caregiver Supply

  • COVID-19 Impact – Resistance to Caregivers Working During State-wide Stay-at-Home Order

  • COVID-19 Impact – Response to Clients Testing Positive

  • COVID-19 Impact – Top Situations

  • COVID-19 Impact – Business Activities Being Conducted In-Office or Remote

  • COVID-19 Impact – Businesses That Applied for a PPP or EIDL Loan

  • COVID-19 Impact – Change in Number of Applicants for Caregiving Jobs

  • COVID-19 Impact – Agencies Charging Clients for PPE

  • COVID-19 Impact – Agencies Experiencing COVID-19 Cases

  • COVID-19 Impact – Agencies Taking Clients Diagnosed

  • COVID-19 Impact – Innovations Adopted That Agencies Intend to Continue After

  • COVID-19 Impact – Referral Volume Change

  • COVID-19 Impact – Agencies That Experienced a Drop in Billable Hours

  • COVID-19 Impact – Highest Percentage of Lost Weekly Billable Hours

  • COVID-19 Impact – Agencies Whose Billable Hours Have Begun to Return to Pre-COVID Levels

  • COVID-19 Impact – Amount of Time it Took for Billable Hours to Return

TECHNOLOGY SUMMARY

New technology is taking the home care space by storm, changing and shaping every aspect of the business from client care to marketing. This first-ever Technology Section of the Benchmarking Study focuses on how home care agencies are using these new technologies and highlights future opportunities and possibilities.

6.3 Scheduling Softwares
6.5 Applicant Tracking Systems

What else is in Technology?

  • Historical Industry Net Promoter Score® for Scheduling Software Providers

  • Technologies Used by Home Care Providers in 2019

  • Scheduling Softwares Used by Home Care Providers in 2019

  • Review Management Programs Used by Home Care Providers in 2019

  • Applicant Tracking Systems (ATS) Used by Home Care Providers in 2019

  • Providers that Use an Applicant Tracking System – Caregiver Turnover

  • Customer Relationship Management (CRM) Used by Home Care Providers in 2019

  • Providers that Use a Customer Relationship Management (CRM) – Median Revenue

To see all data and insights purchase the 2020 Home Care Benchmarking Study.

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