Strong Growth Predicted for Post-Acute Care Market—Will You Be Ready?
The post-acute care market is growing rapidly, posing opportunities and challenges for providers. From 2023 to 2024, the industry has grown from $771.4 billion to $824.86 billion. By 2028, it is predicted to surge to $1092.06 billion, according to the Post-Acute Care Market Report 2024. What is causing the industry to grow so quickly, and how can you be prepared to meet the demand and stay competitive?
What is Fueling the Growth?
There are a wide variety of factors driving growth in the post-acute care market, from societal shifts to technological advancements and healthcare policy changes. The most significant factors include:
Aging Population: The number of Americans 65 and older will more than double over the next 40 years, according to the U.S. Census Bureau.
Chronic Disease Prevalence: Increasing rates of chronic illnesses will require ongoing post-acute care services.
Demand for Quality-of-Life Interventions: Services such as physical therapy, counseling, and radiotherapy are in higher demand than ever.
Hospital Readmission Reduction Initiatives: Efforts to reduce hospital readmissions rely heavily on post-acute care services.
How Can You Prepare to Meet the Demand and Stay Competitive?
Adapting to this growing demand will require you to take an honest look at your operations to evaluate opportunities for improvement in key areas such as reimbursement, compliance, technology integration, workforce optimization, and operational efficiency. The good news is that you don’t have to navigate these challenges alone. PACS Consulting has decades of experience in post-acute care, and we can provide the support you need to help your business thrive in this rapidly changing market.
Our services include:
Enhanced PDPM Coding Consultation: Optimize your reimbursement rates with our coding expertise. On average, our clients realize over 150% ROI.
Monthly Impact Reports and CMI Trend Reports: Access real-time data to track progress and evaluate bottom-line impact.
Compliance Support: Stay ahead of federal and state laws and regulations and healthcare program requirements.
Process and Program Improvement Consultation: Raise the level of excellence for customers while enhancing profitability.
Training and Clinical Program Development: Ensure your team has the ability to deliver the highest level of care.
Management Services Agreements: Gain strategic support for planning, recruiting, training and census building.
The growing post-acute care market offers incredible opportunities for providers who are prepared to meet the demands. Staying competitive will require proactive strategies and support from industry experts like PACS Consulting.
Learn more about how we can work together to prepare for the opportunities ahead.
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