If you’re interested in investing in the home care sector, it’s important that you fully understand the industry, including all the latest trends and developments, before pulling the trigger and committing your money and time. Caregiving is an undeniably competitive market, so gaining this information will help your franchise to stay on top of its game and ahead of the curve compared to other home care businesses in the space.
The home care sector makes for a fantastic investment opportunity in a largely recession-proof market. If you’re looking to work in a valuable, rewarding and profitable industry, starting your own home care franchise is a really great option. Read on, and you’ll discover the top five home care sector trends that’ll define 2022 in the growing industry.
What does a home care franchise do?
If you’re interested in running your own business, entering the homecare sector and making a career change with a homecare franchise, you first need to know what, exactly, a home care franchise does. Home carers, also known as domiciliary carers, provide patients and clients with in-home services that allow them to retain their independence and live more freely while still getting the support that they need. Though your specific role and the responsibilities associated with it will differ from franchise to franchise, you can generally expect to be:
- Managing a team of carers
- Communicating with clients about their needs and the needs of their loved ones
- Maintaining high standards of care and customer service
- Supporting the physical and mental wellbeing of your patients
- Administering and/or distributing medications
- Managing your franchise’s day-to-day operations and processes
- Marketing your franchise
- Staying up-to-date on the latest industry trends and developments
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The shape of the home care sector in 2022
You like the sound of the job and you’re considering becoming a caregiver... What do you need to know next? As much as you possibly can about the industry itself, of course - starting with how it’s performing in 2022, in a post-COVID context. The domiciliary care market is currently worth £5 billion and employs just shy of 325,000 people [IBISWorld]. An investment in home care makes sense not just because the industry is so vast, but because it only looks set to continue to grow as more and more people - especially older people, who are living longer - require care.
The 5 top home care sector trends right now
1. Technology-enabled care
Technology is making its mark in pretty much every industry, including home care. While it may seem like the two don’t go hand in hand, you couldn’t be more wrong - and you’ll need to be aware of this shift if you want to stay ahead of the competition in 2022. Over the coming months, there will be an increase seen in the number of home care businesses that actively utilise tech, particularly to ensure the safety and security of patients.
From camera systems to alarm systems to regular social interactions conducted through communication tools for checking in throughout the day, if you’re looking to ensure you’re running a home care business at the top of its game, make sure you include technology in your home care franchise’s business plan for the next year.
2. Regenerating levels of client/patient confidence
The pandemic didn’t decimate the home care industry, but it would be incorrect to say that it didn’t have an impact. Some patients and clients lost their confidence in receiving home care at a time when COVID was rampant, as they were concerned about getting it and falling seriously ill, ultimately feeling that the threat level outweighed the value of the care. Luckily, thanks to vaccinations, boosters and a slow return to normality, confidence in the safety of receiving these services is bouncing back. Don’t be surprised if demand begins to rise as COVID’s impact continues to decrease.
3. More people to recruit than ever
Sadly, the pandemic caused a lot of people to either be furloughed or made redundant. But this is likely to benefit the home care sector - and maybe your individual home care franchise. When lots of people are looking for a job, a chance to work with one of the top home care franchises in the UK appeals, especially if your territory is perfectly suited. Therefore, recruitment is made easier and quicker on your end by higher application rates.
[It’s the perfect time] to showcase care as a rewarding and stable sector for employment and attract new people into care as a career choice. We need to re-think how we market ourselves and home care as an employer of choice.
- Neil Murray, Home Care Insight
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4. Increased government funding and support
Fortunately, the government has been willing to recognise the importance of home care services during the last few years, and has decided to invest more heavily in the sector. From October 2023, there will be a new £86,000 cap on the amount anyone in England will need to spend on their personal care, and in addition, the upper capital limit will rise to £100,000 (way up from the current £23,250), meaning that people with less than £100,000 will never contribute more than 20% per year [UK Government]. When more people can afford to access care, home care franchises enjoy a wider client base.
5. Remote health monitoring
Remote health monitoring will become even more prevalent in the home care industry in 2022, having risen to increasing prominence across 2021. It’s a fantastic way to keep an eye on important levels and measures like nutrition, hydration, mobility and hobbies. Plus, health monitoring done right can save time for nurses and caregivers, minimise hospital visits and allow for the easier delivery of non-medical support.
The telehealth industry is expanding, introducing new ways [to deliver remote care]. Right now, the market can offer numerous IoMT solutions to deliver high-quality health monitoring. Innovative software and devices can offer a big variety of monitoring services: glucose metres, diet monitoring, dementia surveillance [and more].
- Ivan Dunskiy, Health Care Guys
With these home care sector trends at the front of your mind, you’ll be able to successfully launch a franchise
If you’re more interested in running a franchise in the home care sector than ever, stick around on Point Franchise to continue your research, moving ever closer to that exciting moment in which you’ll finally invest. Discover the biggest advantages of running a home care franchise and some super-helpful home care franchise marketing tips. Plus, if you’re still unsure of where in the sector you’d find your niche, find out how to choose the perfect home care franchise for you.
Cara Squires, Point Franchise ©