Hospices across America provide end-of-life care for patients with terminal conditions; aiming to help ease the symptoms with physical, spiritual, emotional, and social support.
A large proportion of hospice care in the United States makes significant use of volunteers, with an emphasis on supporting a patient's psychological needs while coming to terms with the finality of their condition.
While the Medicare system supports many hospice institutions, the majority is provided by private companies. 63% of hospice care agencies are for-profit healthcare providers.
Hospices receive funding from private insurance or government programs, with donations made by the public, corporations, and grants from charitable foundations. Hospices are generally reimbursed from Medicaid, Medicare, and private insurers.
Hospice care is provided in a facility (such as a hospital or nursing home) or at a patient’s home.
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The US Franchise Market
There are, currently, almost750K US franchise businesses, providing in excess of $713 billion each year to the national economy. With over 7.88 million US workers make their living through franchises, the sector has proven itself robust during uncertain times.
The franchise sector remains one of America's most stable financial spheres, supporting families across the United States.
Other stats:
- More than 25% of all hospice patients in the US receive support and service for a week or less.
- There were more than 4.5K hospice providers in the US in 2017.
- There are generally around 1.5 million patients in the US receiving hospice care at any time.
- Most patients are over the age of 84.
What type of care do hospices provide?
Hospice care doesn’t usually include medical treatment in the traditional sense. The focus is on making the end of somebody’s life as comfortable as it can be.
Hospices employ nurses, social workers, home health aides, and physicians; staffed by both professionals and volunteers.
While support is given to alleviate the symptoms of terminal illnesses during end-of-life care in hospices, the majority of patients choose to die at home.
Franchise vs. Independent
The financial risks associated with starting a business are considerable, but franchises are commonly recognized as a stable route into self-employment. Around 50% of all independent start-ups fail to continue trading beyond the tricky first two years.
Franchises are built on solid financial foundations with proven business models and a record of secure, controlled expansion.
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Explore our hospice franchise opportunities to find a business that could help you become your own boss.
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