2020 Home Care Benchmarking Study

This annual study is the most comprehensive report on the home care industry.

Order Now

2020 Home Care Benchmarking Study

This annual study is the most comprehensive report on the home care industry.

Order Now

What is in the Benchmarking Study?

The data in this report is specifically for non-medical home care/Private duty/PCA providers.

Powerful Segmented Data

Industry-specific metrics are segmented to be most insightful. Compare the findings to your agency size, revenue range, geographic region and more.

Insights from Industry Experts

In addition to eye-opening data, the study includes article contributions from leaders in the home care industry who share their wisdom on the state of home care in 2020.

Benchmark Calculations

Since many of the benchmarks might be new or require specific calculation, those instructions are also included to add clarification.

Data Points by Section

  • 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

  • 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

  • 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

  • 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

  • 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

  • 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

  • Net Promoter Score® (NPS) Calculations

  • Client Net Promoter Score® (NPS) Breakdown – Geographic Region & Industry

  • Overall Client Satisfaction – Historical

  • Historical Industry Average Client Satisfaction Scores – Category

  • Caregiver Engagement Score (CES) Calculations

  • Caregiver Engagement Score (CES) Breakdown – Geographic Region & Overall

  • Overall Caregiver Satisfaction – Historical

  • Historical Industry Average Caregiver Satisfaction Scores – Category

Article Contributors

Erik Madsen
Erik Madsen
Chief Executive Officer, Home Care Pulse
Vicki Hoak
Vicki Hoak
Executive Director, HCAOA
Peter Droubay
Peter Droubay
Director of Business Development & Training, Caring.com
Shelle Womble
Shelle Womble
Sales & Operations Consultant, corecubed
Linda Leekley
Linda Leekley
Chief Content Officer, Home Care Pulse
Founder, In the Know
Brandi Kurtyka
Brandi Kurtyka
Chief Executive Officer, myCNAjobs
Jill Scott
Jill Scott
Manager of Member Services, The Home Care CEO Forum
Angelo Spinola
Angelo Spinola
Shareholder, Littler
Kurt Rose
Kurt Rose
Associate, Little
Stephen Tweed
Stephen Tweed
Founder, The Home Care CEO Forum
Steve Weiss
Steve Weiss
President & CEO, Hurricane Marketing Enterprises
Adrian Schauer
Adrian Schauer
Founder & CEO, AlayaCare
Vicki Demirozu
Vicki Demirozu
National Director of Personal Care and Support Services, Interim Healthcare

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home care referral sources
Years ago, I was at a conference where I heard a phrase I’ll never forget: “Ignorance on fire, is better than knowledge on ice.” It was a phrase meant to spark action and get individuals to go out and grow their businesses. Even if you don’t know what you’re doing, at least if you’re trying, things will happen as you’re on fire. Whereas if you are spending all your time perfecting yourself so you know everything, your business is suffering and you’re on ice. But what if we could be on fire, making things happen with the full knowledge of what we are doing? The results could be transformational.

Home Care Pulse puts together the best collection of information for growing your home care business, PERIOD. They tell you exactly where to go for business, so you can grow your organization as quickly as possible. However, many of the top 10 referral sources for home care business growth needs to be qualified. Here are four ways to make sure you know exactly where to go in your territory for maximum return on investment.

Home Care Referral Source Options List

FREE RESOURCE

Strengthen your referral strategy with our Referral Source Options List

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1. Assisted Living Facility(ALF), Independent Living Facility(ILF), and Continuing Care Retirement Communities (CCRC)

These are great referral sources. They do the hard part of finding qualified private paying clients, so you know everyone who lives there can afford your services beforehand. But which ones should we target? The ones that are around 90 percent occupied! Why? By partnering with a private home care company, you slow down the number of residents that are asked to leave when they are “no longer assisted living appropriate,” meaning they need care beyond what’s offered in the community. This will allow them to bring in one to two new residents (or more) per month while keeping their residents safe and out of the hospital. They want to get to 100 percent occupancy, and you are the best way to help them do so. Leverage this!

2. Home Health and Hospice

I call these two referral source types “Power Partners” as they represent two legs of the 3-legged stool necessary to keep patients home safe. (We, as private providers, are the third). With so many out there, which ones should we target? The ones that maintain a census of around 100 clients. With patient turnover, due to either hospices reaching their goal or patients passing away, the home health or hospices that do so typically admit around 500 total patients per year. It’s very realistic with that volume of patients, that 5 percent can easily be identified as being able to both afford and benefit from having additional support in the home, resulting in around 25 new client admissions each year. One of each, and you have 50 new patients. This is over half a million dollars in private pay revenue, given the average financial lifetime value of a client.

3. Skilled Nursing Facility (SNF) and Long-Term Acute Care (LTAC)

These are my personal two favorite referral source types. They have patients with both great need and urgency to coordinate care, yet enough time so that you can properly staff the referral. The challenge? If you were to go on to www.skillednursingfacilities.org and look up all the SNFs in your area, I can assure you that you have at least 25 in your service area. However, they are all not created equal! The key is to find the ones that have Medicare discharges. Out of 25, you may find that only four or five have the volume of discharges necessary to refer you on a regular consistent basis. The sweet spot? 40 or more discharges a month. This will be close to 500 patients a year and result in 25 plus new clients per year. So qualify the SNFs in your area, and focus on the ones with the discharges. (Here’s another hint, the most difficult ones to get into are the ones that have the discharges.)

4. Hospitals

The Everest of referral sources. Everyone wants to be in a hospital, and with the sheer volume of patients, I can see why. However, here’s a very strong WARNING: Unless you’re able to staff same day discharges 2-3x a week, don’t even bother! 90 percent of home care agencies out there couldn’t handle it or would mess it up, and thus ruin the reputation for the entire industry. So if you’re brave enough to attempt getting into a hospital, make sure your operation is sound. If you’re ready for this, here’s what you need to do.

  1. Determine your company’s readmission rate. If you can do so by condition, that’s a huge plus.
  2. Go on to Medicare.gov and determine the readmission rates of the hospital you’re trying to get into (again by condition is even better).
  3. Create a specialty program around your best outcome (the condition that you provide care for with the lowest rate.)
  4. Do whatever you can to get a meeting with either a Medical Director, Physician who makes rounds at the hospital, an Executive, or Director of Case Management/Social Services. (There are hundreds of ways to do so, but that’s for another time.)
  5. Present data. Present National data, present hospital data compared to national findings (bring them to their pain point), and present your data (which should/must be significantly better). Finally, offer your specialty program as the solution working together as an “interdisciplinary” approach to improve outcomes.
  6. Get referrals.
  7. Convert referrals and deliver on your promises.

This will take you at least six months to accomplish, so be ready to do whatever it takes.

There you have it. Now you know where to go, and what must be done to get in. Take ACTION! You’ve got the knowledge, but without executing it, you’re sitting on Ice. Take it, devise a plan, and go set your territory on FIRE. I want to see transformational growth, and if you need help along the way, you know how to find me. Happy Hunting everyone.

Steve

Author

Steve “The Hurricane” Weiss | President & CEO – Hurricane Marketing
Steve Weiss is the President and Founder of Hurricane Marketing Enterprises. Since 2012, he and his team have been taking the nation by storm, helping Home Care and Private Duty companies catapult their businesses to the next level and beyond. He is a Motivational Speaker, Business Seminar Leader, and Consultant/Coach to clients across the country. His programs and presentations have helped thousands of individuals land record-breaking results in acquiring referrals, new patient admissions, revenues and profits. Steve’s clients continue to “blow away the competition,” a marketing phrase he coined to accomplish just that.

Article originally published in the 2017 Home Care Benchmarking Study

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