Since March of this year we've been slowly entering a new world. The markets are shifting and the future seems more unknown than it did all but four months ago.
So what are the best investments for 2020 now? Even though we aren't financial advisors, we are experts in senior care. The data we're seeing (so far) seems to be pointing to a sense of security in senior care and a surge of interest in home care.
Here are some key findings that might help you on you learn more about starting a home care franchise during the COVID-19 outbreak.
Per Capita Home Health Expenditure in the United States is Still Expected to Be Higher than Other Developed Countries
According to IBISWorld health care costs largely depend on the number of employers providing health insurance.
Assisted Living Homes, the Retirement Community and Nursing Homes Will Still Be Vital to Elderly Care
COVID-19 raised valid concerns about the safety of senior care homes but for companion care is still surging. Federal funding of $200 Million to the Centers for Medicare & Medicaid Services to assist senior care companies to prevent the spread of the virus brings solidity to the industry and creates opportunity for positive disruption.
Health Care Companies May Be One of the Best Investment Opportunities During the Pandemic and Well After
Pandemic-caused high unemployment rates and a surge in demand for medical supplies will contribute to revenue losses for hospitals, medical centers and other health care establishments in 2020. However, according to PwC, $100 billion in federal grants should offset the total loss over a one to three-year period. This provides unparalleled security to the health care sector.
The American Health Care Industry Will Be Pushed to Rapidly Evolve
IBISWorld estimates that there are three hospital beds for every 1,000 people in the United States, which ranks it below other countries part of the Organization for Economic Co-operation and Development. COVID-19 will add more pressure to the industry to improve the quality and accessibility of medical care.