Home Care Industry Turnover Rate Reaches All-Time High of 82%
Posted on Monday, May 13, 2019 2:15 AM
According to a newly released Home Care Benchmarking Study by market research and education firm Home Care Pulse, the median caregiver turnover rate reached an all time high of 82%. Approximately 700 home care providers operating across 1,148 locations participated in the 2019 Benchmarking Study. Combined, the participants represent more than $1.6 billion in annual revenue.
“I knew [turnover] was going to go up based on some of the factors we’ve seen over the last year or two,” Home Care Pulse founder Aaron Marcum told Home Health Care News. “I think a lot of people look at that [82%] number and they think, ‘The participants this year must be a lot of inexperienced providers or agencies,’” he said. “It’s actually the opposite of that. How many years you’ve been in business can impact [turnover], but overall it’s how you operate the business.”
This shortage of providers leads many agencies to turn away new clients because they simply do not adequate staffing to take on any new cases.
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