Hospices & Palliative Care Centers
Government funding for industry services has come under intense scrutiny in recent years. Funding changes have pressured the industry and driven revenue down from 2013. Over the five years to 2018, industry revenue is expected to decline at an annualized rate of 0.5% to $28.1 billion. However, as hospice providers adjust to these regulations, demand has begun to return to growth, resulting in an expected 2.1% revenue increase in 2018. Sources of industry demand will likely continue to escalate as the population ages and the popularity of home healthcare grows. However, the payment reductions are expected to cause significant profit losses across the industry over the next five years.
This industry provides programs that offer symptom relief and pain management for patients with life-terminating illnesses. Hospice care applies to companies that administer care (in terms of comfort rather than cure) to patients with life-limiting illnesses or diseases. Nonhospice palliative care is provided to individuals with serious, complex illnesses who may or may not be expected to recover fully; this segment is excluded from this industry.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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