2022 HCP Benchmarking
Report SnapShot

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Executive
Summary

The Executive Summary is an introduction to the 2022 HCP Benchmarking Report. Included is a high-level overview of the Report and an update on the state of the industry from Todd Austin, President of Home Care Pulse. Vicki Hoak, Executive Director of the Home Care Association of America and Bill Dombi, President of the National Association for Home Care & Hospice also provide their insights in this section. The Executive Summary also includes an overview of the participants whose data is included in this Report, including years in business, provider type, geographic location, and annual revenue.

What else is in the Executive Summary?

  • Historical Total Participation
  • Participation by Provider Type for 2022 Report
  • Historical Participation by Number of Locations
  • Historical Participation by Populations Served
  • Historical Participation by Years in Business
  • Participation by U.S. State & Canada for 2022 Report
  • Participation by Revenue Range for 2022 Report
  • Membership Associations for 2022 Report
  • Masters Participation by Provider Type for 2022 Report
  • Historical Masters Participation by Number of Locations
  • Historical Masters Participation by Population Served
  • Historical Masters Participation by Years in Business
  • Historical Masters Participation by Geographic Region
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Sales & Marketing

Home care agencies use a variety of strategies and channels to find new clients; this section dissects the results of each strategy to help you determine the best approach for your agency. The Sales & Marketing section dives deep into data regarding client acquisition and retention, including the top channels for consumer and referral marketing. It also includes the data on conversion rates and acquisition costs that you need to determine whether your sales and marketing programs measure up.

What else is in Sales & Marketing?

  • 2021 Top 20 Marketing Sources – Overall
  • 2021 Top 10 Marketing Sources – Percent of Participants’ Top Source – Masters
  • Historical Inquiry Tracking Comparison – Median Revenue
  • Historical High vs Low Inquiry-to-Admission Ratio– Median Revenue
  • Median Sales Conversions for 2021 – Percentile Ranking
  • Median Sales Conversions for 2021 – Revenue Ranges
  • Annual Number of Inquiries – Agencies Using Home Care Pulse’s Platform
  • Top 5 Growth Opportunities for 2022
  • Historical Median Client Growth Rates
  • Median Client Growth Rates – Revenue Ranges
  • Median Client Growth Rates – Geographic Region
  • Historical Median Client Acquisition Costs
  • Historical Median Client Acquisition Costs – Geographic Region
  • Client Acquisition Costs for 2021 – Percentile Ranking
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Recruitment & Retention

As agencies continue to combat a historic caregiver shortage, recruitment and retention are top of mind across the industry. The data in this section will provide the resources you need to take a data-driven approach to your own staffing. It is designed to help you understand the most common recruitment and retention practices, how effective those practices are, and which challenges are most relevant to your geographic region. It will also allow you to analyze what constitutes a competitive compensation, benefits, and training package for your region, enabling you to create your own unique strategy for improving the caregiver experience.

What else is in Recruitment & Retention?

  • Top 10 Caregiver Recruitment Sources/Methods for 2021
  • Top 10 Caregiver Recruitment Sources/Methods for 2021 – Masters
  • Top Caregiver Recruitment Sources for 2021 – Median Caregiver Turnover
  • Top Caregiver Recruitment Sources for 2021 – Median Caregiver Acquisition Cost
  • Historical Impact of Caregiver Shortages
  • Impact of Caregiver Shortages for 2021 – Geographic Regions
  • Percentage of Agencies That Turned Down Cases At Any Point in 2021 Due to Caregiver Shortage
  • Percentage of Agencies That Consistently Turned Down Clients Due to Caregiver Shortages in 2021
  • Median Caregiver Hiring Conversions for 2021 – Percentile Ranking
  • Median Hiring Conversions for 2021 – Masters ($5M+)
  • Median Hiring Conversions for 2021 – Revenue Range ($2.8M – $4.99M)
  • Median Hiring Conversions for 2021 – Revenue Range ($1.6M – $2.799M)
  • Median Hiring Conversions for 2021 – Revenue Range ($800K – $1.599M)
  • Median Hiring Conversions for 2021 – Revenue Range ($0 – $799K)
  • Historical Median Caregiver Turnover Rate
  • Historical Caregiver Turnover Rate – Percentile Ranking
  • Caregiver Turnover Rate by Percentile Ranking for 2021 – Geographic Region
  • Caregiver Turnover Rate for 2021 – Revenue Range
  • Historical Median Caregiver Turnover Rate – Geographic Region
  • Revenue Per Caregiver Employee for 2021 – Percentile Ranking
  • Historical Revenue Per Caregiver Employee – Percentile Ranking
  • Median Revenue Per Caregiver Employee for 2021 – Geographic Region
  • Median Revenue Per Caregiver Employee for 2021 – Revenue Ranges
  • Historical Median Caregiver Turnover – Caregiver Wages Comparison
  • Historical Median Hourly Caregiver Pay Ranges – Overall
  • Historical Live-In Caregiver Pay Ranges per 24-Hour Shift – Overall
  • Live-In Caregiver Pay Ranges per 24 Hour Shift for 2021 – Geographic Regions
  • Caregiver Wages by Geographical Region for 2021 – Pacific
  • Caregiver Wages by Geographical Region for 2021 – Central
  • Caregiver Wages by Geographical Region for 2021 – Great Lakes
  • Caregiver Wages by Geographical Region for 2021 – Southern
  • Caregiver Wages by Geographical Region for 2021 – Northeast
  • Historical Percentage of Agencies providing Caregiver Benefits
  • Caregiver Benefits Provided for 2021 – Overall & Revenue Ranges
  • Median Caregiver Acquisition Cost for 2021 – Number of Caregivers Employed
  • Median Caregiver Turnover Rate – Number of Caregivers Employed
  • Caregiver Benefits Provided for 2021 – Number of Caregivers Employed
  • Number of Training Hours for 2021 – Percentile Ranking
  • Number of Orientation Training Hours for 2021 – Revenue Range
  • Number of Orientation Training Hours for 2021 – Geographic Regions
  • Median Number of Ongoing Training Hours for 2021 – Revenue Range
  • Median Number of Ongoing Training Hours for 2021 – Geographic Regions
  • Historical Top 10 Professional Training Programs
  • Median Caregiver Turnover Rate – Training Type Used in 2021
  • Median Revenue Per Caregiver Employee – Training Type Used in 2021
  • Median Caregiver Acquisition Cost – Training Type Used in 2021
  • Median Revenue Per Caregiver Employee by Orientation Training Hours for 2021
  • Median Revenue Per Caregiver Employee by Ongoing Training Hours for 2021
  • Training Type Used in 2021 – Revenue Range
  • Training Type Used in 2021 – Geographic Regions
  • Percent of Agencies That Provide Training By Topic
  • Percentage of Agencies That Provided Specialty Care Training in 2021
  • Percentage of Agencies That Provide Specialty Care Training By Topic
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Finance

The Finance section gives you a look at the average balance sheet of other agencies in your region, revenue range, or the industry as a whole. It contains information on revenue, expenses, payer sources, and profit and loss comparisons. The insights in this section will allow you to compare your expenses to other home care providers and identify where you may be overspending. It also covers median billing rates by region to help you keep your pricing competitive.

What else is in Finance?

  • Historical Median Revenue
  • Median Revenue for 2021 – Geographic Region
  • Median Revenue for 2021 – Number of Locations
  • Median Revenue for 2021 – Population Served
  • Historical Median Revenue – HCAOA Members vs. Non-Members
  • Historical Median Revenue – NAHC Members vs. Non-Members
  • Historical Median Revenue – Home Care Pulse Users vs. Non-Users
  • Historical Revenue Percentile Rankings
  • Historical Revenue Percentile Rankings – Masters
  • Revenue Percentile Rankings for 2021 – Years in Business
  • Revenue Percentile Rankings for 2021 – Population Served
  • Revenue Percentile Rankings for 2021 – Geographic Region
  • Profit & Loss Comparison for 2021 – Geographic Region
  • Profit & Loss Comparison for 2021 – Number of Locations
  • Profit & Loss Comparison for 2021 – Revenue Ranges
  • Sales & Marketing Expenses Percentile Ranking for 2021 – Revenue Ranges
  • Recruitment & Retention Expenses Percentile Ranking for 2021 – Revenue Ranges
  • Historical Revenue Generated by Service Offerings
  • Historical Payer Source Percentage of Revenue
  • Historical Median Weekly Billable Hours
  • Service Billing Methods for 2021
  • Historical Median Billing Rates by Length of Visit
  • Median Billing Rates by Length of Visit for 2021 – Percentile Ranking
  • Median Billing Rates by Length of Visit for 2021 – Geographic Region
  • Median Billing Rates by Caregiver Skill Level for 2021 – Percentile Ranking
  • Caregiver Skill Level Billing Rates for 2021 – Geographic Region
  • Historical Percent of Providers Offering Live-In Care
  • Historical Median Live-In Care Billing Rates
  • Median Live-In Care Billing Rates for 2021 – Geographic Region
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Operations

The Operations section helps you identify and prepare for the largest threats facing your agency in the coming year. It provides the insight you need to evaluate the internal management of your home care agency, with data on client turnover rates, staffing numbers, salaries and benefits, and readmission rates.

What else is in Operations?

  • Historical Service Offerings – Overall
  • Service Offerings for 2021 – Revenue Ranges
  • Service Offerings for 2021 – Geographic Regions
  • Historical Client Turnover Rate
  • Client Turnover Rate for 2021 – Percentile Ranking
  • Client Turnover Rate for 2021 – Revenue Ranges
  • Client Turnover Rate for 2021 – Geographic Region
  • Historical Client Average Length of Service (By Month) – Percentile Ranking
  • Historical Client Average Lifetime Value – Percentile Ranking
  • Percentage of Providers Tracking Hospital Readmission Rates for 2021
  • Hospital Readmission Rate for 2021 – Percentile Ranking
  • Historical Sales per Full-Time Employee – Revenue Ranges
  • Historical Sales per Full-Time Employee – Geographic Region
  • Weekly Billable Hours per Care Coordinator for 2021
  • Weekly Billable Hours per Non-Caregiver Employee for 2021
  • Number of Office Staff Employed for 2021 – Overall & Revenue Ranges
  • Median Office Staff Annual Salaries for 2021 – Overall & Revenue Ranges
  • Median Staffing Summary for 2021 – Overall & Revenue Ranges
  • Median Staffing Summary for 2021 – Geographic Regions
  • Top 5 Threats Facing Home Care Providers in 2022
  • Office Staff Turnover for 2021 – Overall & Revenue Ranges
  • Historical Median Office Staff Turnover – Geographic Regions
  • Provided Office Staff Benefits in 2021
  • Office Staff Benefits Provided in 2021 – Overall & Revenue Ranges
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Technology

The Technology section is an overview of the software platforms agency owners are using to manage their business and improve their operations, including scheduling software, customer relationship management software (CRM), and applicant tracking systems (ATS). It is intended to provide you with perspective on what tools are helping other home care providers achieve success and how you could leverage them in your own agency.

What else is in Technology?

  • Scheduling Softwares Used by Home Care Providers in 2021
  • Providers Who Use A Software Program for Online Review Management
  • Review Management Programs Used by Home Care Providers in 2021

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