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Home Care – Why It’s A Recession Proof Business

By Pam Witt

Americans have seen some difficult times during the recent economic downturn. Many business owners have seen a decrease in their bottom line, but even through the challenging economic times, home care business owners haven’t seen a wane in profits. In fact, the home care business has remained stable while many other businesses have failed. Why? Well, the baby boomer population has continued to experience rapid and vast increase and for that reason, the baby boomers are approaching senior status, but so are their parents, many of whom are living longer because of advanced medicine and technology.

The Fastest Growth

The home care business has had the fastest growth and is one of the most profitable industries. This industry has weathered many economic storms and the one fundamental factor is the demographics that it serves. The population make-up in America is shifting in favor of this type of business as people get older and their needs expand. Companies that provide home care services, medical supplies and medical care can profit from this dynamics. Moreover, this growing demand for home care will not change for many years to come, no matter how irresponsible Wall Street becomes or whether property values fluctuate or not.

Growing Senior Demographics

Over the next several years, the demographic pointers are predicted to exponentially increase. So there is no better time to be a part of this home care industry than now. You don’t want to be left out. Healthcare is becoming quite expensive and the health care industry has so many people needing service. As baby boomers get older, the market looks promising and has proven to have been able to get through any recession thus far, especially since it is a service business with no inventories and good financial outlook for the present and future.

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About Pam Witt

Pam Witt is a licensed RN and has more than 32 years of experience in the caregiving, home care, home health and healthcare industries. She has more than 10 years of successful marketing experience with one of the largest healthcare software companies in the world. Pam’s philosophy is that “life is a gift” and it should not be wasted. Pam’s main objective through the NAPHC and ProfessionalHomeCare.org is to make a positive impact in the home care, home health and home hospice industry by providing the best information and training available.