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13% of Medicare Beneficiaries Have Trouble Paying At-Home Care Bills

Posted on Monday, November 18, 2019 12:44 PM

According to Genworth Financial, the cost of in-home care is rising faster than any other long-term care services.  Many Americans are having a hard time paying these bills.

In 2018, the average cost of full-time home health care was $4,385 a month, an increase of over 4.5% compared to the previous year.  When it comes to home care, 44 hours of care per week annually adds up to  more than 91% of the median U.S. household’s bring-home pay.

“One-to-one care is getting expensive and — given the number of elderly living longer and longer — that math isn’t adding up,” one home care executive previously told Home Health Care News. “We need to start using technology to increase the number of touches we can have without actually going into the home. Additionally, I think we’re going to see much more group care or community shared-aide services.”

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Corridor is the nation’s preferred partner and trusted business advisor to home health and hospice providers, providing quality services and impactful results for 30 years. Focusing on key operational, regulatory and financial challenges, Corridor delivering industry-unique solutions and deep expertise in coding, clinical documentation review, compliance, billing and collections , consulting and provider staff education . At Corridor, we make the business of caring for people Better! For the most important industry updates and news that impacts home health and hospice, please make sure to sign up for our weekly newsletter to receive the latest up-to-date industry information direct to your inbox!

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