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Industry Landscape
The home health and hospice industry is experiencing significant growth, driven by an aging population, preference for at-home care, and technological advancements. Digital solutions are crucial for improving efficiency, patient outcomes, and compliance, while addressing staffing shortages and regulatory changes. Integration and data-driven insights are key for success.
Total Assets Under Management (AUM)
Number of Home Health Agencies in United States
~Approximately 11,000
(3-5% CAGR)
- Growth primarily from increasing demand.
- Consolidation among larger agencies.
- New entrants focus on niche services.
Total Addressable Market
Approximately 150 billion
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-Powered Predictive Analytics
Utilizing AI and machine learning to predict patient deterioration, optimize staffing, and forecast resource needs, leading to proactive care and improved operational efficiency.
Remote Patient Monitoring (RPM)
Implementing connected devices to continuously collect vital signs and health data from patients at home, enabling early intervention and reducing hospital readmissions.
Virtual Reality (VR) for Training & Therapy
Employing VR for immersive caregiver training on complex procedures and for patient therapy, enhancing skill development and engagement in a safe environment.
Impactful Policy Frameworks
CY 2024 Home Health Prospective Payment System Rate Update (CMS-1780-P)
The Centers for Medicare & Medicaid Services (CMS) proposed a 2.2% payment rate increase for home health agencies in 2024, alongside new quality reporting requirements and a permanent 5% cap on negative payment adjustments.
This policy directly impacts agency revenue and requires enhanced data collection and reporting capabilities for Maxwell TEC's clients to ensure compliance and maximize reimbursement.
Hospice Quality Reporting Program (HQRP) Updates (CY 2024 Proposed Rule)
CMS proposed new measures for the Hospice Quality Reporting Program, including a Hospice Visits in the Last Days of Life (HVLDL) measure, aiming to improve end-of-life care quality.
Agencies will need robust systems to track and report on these quality metrics, increasing the demand for Maxwell TEC's data analytics and compliance support services.
The 21st Century Cures Act (2016) - Information Blocking Rule Enforcement
This act mandates interoperability and prevents information blocking, requiring healthcare providers to share electronic health information with patients and other providers.
Maxwell TEC's solutions must ensure seamless EMR integration and secure data exchange to comply with these rules, enhancing care coordination and patient access to their health information.
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