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