Closing Hospitals, Resource Constraints, and Fallout from the Public Health Emergency Driving Increased Demand for Hospital at Home Models
BOSTON, June 1, 2023 /PRNewswire/ -- The latest research report from Chilmark Research, Hospital at Home Programs: Challenges, Solutions & Perspectives, reveals a healthcare market in desperate need of new models of care that can extend services beyond the walls of traditional clinics. Clinical capacity, limited availability of hospital beds in many counties, and an increase in health deserts have all resulted in nationwide accessibility issues and the growing use of emergency rooms for non-emergent treatment. These factors all converge at a critical time when the increasing costs of care need to be contained for national economic stability.
The COVID-19 Public Health Emergency accelerated the demand for models of care that could address patient needs beyond the clinic. As of publication, there are currently 281 hospitals across 125 health systems and 37 states participating in the Centers for Medicare and Medicaid Services Acute Hospital at Home (HaH) waiver program. There has been much discussion of the PHE's impact on the adoption of virtual and tele care offerings, but there has still been only minimal coverage of the opportunity for shifting non-critical, acute hospital care into the home despite this rapid growth of CMS-approved programs.
Research analyst and lead author Elena Iakovleva had the following to share on the growth of this care delivery model over the coming years:
"With healthcare spending skyrocketing and the need for bed capacity growing every year, these new technology-enabled, hospital at home models can take some of the burden off the financial strain to the industry. Expect slow adoption over the next few years as growing pains are worked through and reimbursement models catch up with proven demand. Given the market dynamics uncovered during this research, we anticipate adoption to accelerate after 2026, reaching a market of $72B out of the potential $300B TAM. Payers will remain the largest customer of this segment, but health systems will make up an increasingly large share of the customer base as they see the positive financial benefits of extending their offerings through these technologies and services."
While there are a few full-stack products currently on the market from companies like Medically Home, Biofourmis, Contessa Health, and Dispatch Health, the majority of HaH programs are built in-house by combining the services of several different point solutions that can enable a comprehensive service offering. This report discusses how different innovators are enabling HaH, current accelerants and inhibitors of market growth, and the benefits and challenges of operating these new technology-enabled services models.
This Market Trends Report introduces a new framework for the syndicated content that Chilmark Research produces, looking more deeply into the major trends, initiatives, and social factors that are driving a growing interest in the HaH model. This report will be followed in approximately one month with a corresponding Buyers' Guide, which will provide a deeper analysis of what it takes to deploy a HaH program, key considerations for buyers to understand before embarking on this journey, and in-depth vendor evaluations with selected case studies demonstrating how leading innovators are enabling new ways of bringing care to the home.
About Chilmark Research
Founded in 2007, Chilmark Research brings more than 15 years of in-depth research and analysis to the world of healthcare IT, empowering some of the largest brands in the industry to be confident in their strategic decisions. Our services enable vendors, retailers, and healthcare providers to act on rich insights that deliver deep understanding of an ever-growing and shifting market. Through written research, our Advisory Service, and on-demand consulting, Chilmark's array of services facilitate valuable industry knowledge for any healthcare organization. To learn more, visit chilmarkresearch.com.
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SOURCE Chilmark Research
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