Are you about starting a healthcare home care business? If YES, here is a detailed analysis on how much money home healthcare agencies make monthly/annually.
According to a study by the National Association for Home Care and Hospice, the annual spending on home healthcare was $72 Billion in 2009. It is very obvious that since the year 2009, the home healthcare industry has grown and it looks like it will continue in an upward trajectory due to the fact that the number of the elderly in the society who want to stay in their own houses are on a continuous increase.
The duties of home health aides include helping injured, chronically ill or disabled individuals with their daily activities, such as cooking, shopping for groceries, cleaning house and monitoring blood pressure.
A lot of these home healthcare aids make their money by working in the homes of clients; however, there are some that are in the employ of a small group of homes or larger care facilities or agencies. As with most occupations, their salaries differ by employer and geographic location.
How Much Money Do Home Health Care Agencies Make?
In 2011, the average salaries for home health aides was about $16,410 per year, $1,368 per month or $7.89 per hour, according to the Bureau of Labor Statistics. The highest salaries were above $29,530 a year, $2,461 per month or $14.20 an hour.
The Bureau of Labor Statistics predicts that employment for this occupation will increase by 69 percent from 2010 to 2022, which is more than double the 34 percent expected for health-care support occupations, and almost five times more than the 14 percent for all occupations in all industries. The fact that the aged population is increasing will help to increase the demand for this service.
According to surveys, New York has the most jobs for home healthcare aids with 14 percent of the positions at an average wage of $22,980 a year, $1,915 a month or $11.05 an hour. Next in line is Texas, with almost 8 percent of jobs and an average salary of $19,920 a year, or $9.58 an hour.
Ohio, with almost the same percentage of jobs, had slightly higher wages at an average $20,360 a year, $1,697 or $9.79 an hour.
In general the states with best salaries were Connecticut, averaging $28,500 a year, $2,375 a month or $13.70 an hour; Alaska, with an average of $27,850 a year, $2,320 per month or $13.39 an hour; and Vermont, at an average of $27,090 a year, $2,257 per month or $13.02 an hour.
In order to become a home health aide, you do not need any formal education. In fact most have high school diplomas, according to the Bureau of Labor Statistics. They receive training on the job by more experienced workers, supervisors or nurses.
They will need to learn how to perform some basic housekeeping tasks such as cooking and cleaning, and how to respond in an emergency, such as during a heart attack.
Agencies that hire home health aides typically receive reimbursement from government sources, such as Medicare or Medicaid. Agency workers are required to obtain state certification, which is granted after receiving minimum training and passing an exam.