Global Impact and Growth of Home Care Could Lead to Changes in the U.S. Market
The home care market is not only expanding and growing throughout the United States, but also around the world. While many of the changes that are occurring here are the main focus for most agencies and providers, what happens overseas could potentially impact the industry within these borders.
When a company investing in home health care in another region begins focusing on certain specifics, like medical equipment or even technology, and begins finding success in the field, it could have ramifications for the industry here. Such is the case with various companies expanding their operations elsewhere, and one example hails from Saudi Arabia.
Business Wire, a Berkshire Hathaway Company, announced in a press release entitled, ‘ Air Liquide Enters Saudi Arabia’s Home Healthcare Market:,
“TAC is a leading actor in the pharmaceutical, medical and dental industries within the Kingdom of Saudi Arabia (KSA). Acquired through a majority equity stake (60%), the TAC Home Healthcare division specializes in the distribution of respiratory equipments and sleep disorder diagnosis services for patients suffering from respiratory conditions (sleep apnea, ventilation, chronic respiratory failure). TAC is the main player in this field in Saudi Arabia, serving over 1,400 patients at home throughout the country. The Home Healthcare division of TAC generated a revenue of over €5.5 million in 2016.”
Companies in the U.S. also focus on providing equipment to help elderly and disabled clients live more comfortably, but the focus here is about how companies operating elsewhere could expand or influence the U.S. markets. In the United States, many smaller, independent agencies are struggling to find ways to provide better quality service to their clients even in the face of reduce reimbursement rates at the federal level.
Some companies are turning to technology as a way to bring down costs while others dedicate their focus to refining their type of care, such as focusing more on specific needs, such as could be met with the products TAC offers its clients. While millions of Americans suffer from COPD, sleep apnea and other related physical, health challenges, home care aides can certainly offer some benefits, but delivering, assisting with setup, and maintaining equipment that can help these men and women be more comfortable in their home could be an asset.
The home care sector is constantly changing and as the demand in the U.S. continues to grow, there will be a greater need for quality services delivered at affordable rates and some sectors in the global community might provide answers to questions that aim to solve these new challenges.