Are you about to start a home health care business? If yes, here is a detailed analysis of how much money home health agencies make on a monthly/yearly basis.
According to a study by the National Association for Home Care and Palliative Care, annual spending on home health care was $ 72 billion in 2009. It is very obvious that since 2009, the home health care industry has grown and it seems that it will. continue on an upward trajectory due to the fact that the number of older people in society who want to stay in their own homes is continuously increasing.
Duties of home health aides include helping injured, chronically ill, or disabled people with their daily activities such as cooking, shopping for food, cleaning the house, and checking blood pressure.
Many of these home health aides earn money working in clients’ homes; however, there are some who are employed by a small group of homes or larger care centers or agencies. As with most occupations, your wages differ based on employer and geographic location.
How much money home health agencies make each month
In 2011, the median salary for home health aides was about $ 16,410 per year, $ 1,368 per month, or $ 7.89 per hour, according to the Bureau of Labor Statistics. the highest wages were above $ 29,530 per year, $ 2,461 per month, or $ 14.20 per hour.
The Bureau of Labor Statistics predicts that employment for this occupation will increase by 69 percent from 2010 to 2020, which is more than double the 34 percent expected for health care support occupations, and nearly five times the 14 percent. percent for all occupations in all industries. The fact that the elderly population is increasing will help increase the demand for this service.
According to surveys, New York has the most home health care jobs, with 14 percent of the jobs earning a median salary of $ 22,980 a year, $ 1,915 a month, or $ 11.05 an hour. Next in line is Texas, with nearly 8 percent of jobs and a median salary of $ 19,920 a year, or $ 9.58 per hour.
Ohio, with about the same percentage of jobs, had slightly higher wages averaging $ 20,360 a year, $ 1,697, or $ 9.79 per hour. Overall, the top-paying states were Connecticut, averaging $ 28,500 a year, $ 2,375 a month, or $ 13.70 an hour; Alaska, averaging $ 27,850 per year, $ 2,320 per month, or $ 13.39 per hour; and Vermont, at an average of $ 27,090 per year, $ 2,257 per month, or $ 13.02 per hour.
To become a home health aide, you don’t need any formal education. in fact, most have high school diplomas, according to the Bureau of Labor Statistics. receive on-the-job training from more experienced workers, supervisors, or nurses.
They will need to learn how to perform some basic housekeeping tasks, such as cooking and cleaning, and how to respond in an emergency, such as during a heart attack. Agencies that hire home health aides generally receive reimbursement from government sources, such as Medicare or Medicaid. Agency workers are required to obtain state certification, which is awarded after receiving minimal training and passing an exam.
Read more: How Much Does A Home Health Nurse Make