Suffice it to say that home-based care has come a long way in 10 years. Whereas most home-based care has been evenly divided between homemaking and the Visiting Nurses’ Association, much more specialized care is being delivered in the patient’s home now. The reasons are mostly financial, but home-based care has many benefits for the patient as well.
As the concept of aging in place continues to grow, new healthcare technology companies are sprouting up to help home-based care companies meet the growing demand.
With technology-assisted care, telemedicine and IoT to help monitor patient healthcare status, it makes perfect sense for investor heads to turn in this direction.
The Silver Tsunami Creates Demand For Investments In Home-Based Care
Our baby boomers are aging. With that, their offspring are working outside the home now more than ever. The sandwich generation is stretched thin. The only solution for a lot of families with aging and infirmed parents is home-based care.
When you can’t be home to take care of mom or dad, what can you do to ensure the living situation they have is what they want? Baby boomers want to be home, ideally until they pass. How do we make this happen? Home-based care.
With the demand for home-based care comes better services. Home-based care companies have had to up their game to accommodate the market and stay competitive. When there is lots of competition, the need to excel above the pack becomes great. Investors like to see expansion and improvement in markets.
With the demand for improvements and development comes the need for capital to make it happen. That is where investors come in.
Home-based care is getting sophisticated; the attraction to invest in the next thing that enables further market expansion is also attractive to investors. Home-based care agencies shouldn’t shy away from the newer things in the market that make them more competitive. There are lots of investors behind it all, helping everyone be successful as healthcare faces the next horizon with baby boomers in mind.
The Increased Demand For Better Home Based Care Creates Acquisitions
There was a time when the only exit strategy small home-based care company’s founders had was to either close-up shop or leave their business to a family member. Not any more! If you have read any of the recent healthcare news, you will quickly see that home-based care companies are rapidly being acquired by larger competitors and even established healthcare systems.
Fancy that! If you own a home-based care company, what’s your exit strategy looking like today? This kind of growth looks ripe for the picking to an investor. Funding expansions via acquisition and otherwise are significant indicators for room to grow for an investor.
For an investor, growing a business to sell off to a larger competitor is also advantageous to them. No investor has a plan to invest in a company that has no exit strategy. They want to make their money back and realize a profit on their investment.
Any investor in your home-based care company has plans to sell to someone else, plain and simple. With the climate in the market for home-based care right now, that looks easy to do.
Investors Like Disruption And Innovation In Markets
Startups are focusing a lot on finding solutions to issues in healthcare now more than ever. With that comes more opportunity for all. Early adopters of technologies in home-based care are the ones investors have their eyes on.
Healthcare has never been the industry investors looked to for leaders in technology innovation until now. Smaller healthcare and home-based care companies are agile enough to try new things, and with a lot of success recently.
Investors love to see a risk pay off well. Innovations that work increase a company’s value. How well are you adopting new technologies to increase the value of your services to your clients, patients, and investors?
eCare Vault is one recent technology in the market of home-based care poised to shake up the market when it comes to workflow management. One thing home-based care companies struggle with is continuity in communication between doctors, patients, caregivers, medical professionals, and family members.
One reason this happens is closed EHR systems that shut out members of a patient’s care team that would benefit from collaboration on care, especially now that more specialized services are involved in-home care.
eCare Vault is an EHR agnostic system that provides the kind of workflow management solution that everyone in home-based care is looking for. If you want to know how eCare Vault can increase efficiencies in workflow at your home-based care company and potentially increase your attraction to investors for your organization, the next thing to do is contact us.