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BrightStar Care is a leader in the home healthcare sector, dedicated to empowering entrepreneurs to build impactful businesses that enhance their communities. To keep up with our legacy of delivering a higher standard of quality care, we continuously monitor what is happening in the home healthcare industry and beyond. As a prospective franchisee, it is important for you to know the trends and opportunities that lie ahead on your journey to deciding if BrightStar Care is your next career venture. So, we are here to give you an honest perspective of what it means to own a franchise in the home healthcare sector:
Increased Demand for Services
The demographic shift in the United States points towards a burgeoning elderly population, projected to surpass the number of children by 2050. With the U.S. Department of Health and Human Services estimating that over two-thirds of individuals aged 65 and above will require long-term care and support, the demand for senior-focused home healthcare is set to rise significantly.
Our emphasis on senior care positions us to cater to the largest segment of the home healthcare market. Our business model's versatility allows franchisees to tap into multiple revenue streams, tailoring services to meet unique growth and diversification needs.
Medical Staffing Shortages
As the population ages, there is a growing need for healthcare professionals, and staffing challenges are prevalent across the home healthcare industry. However, we maintain a higher standard of quality through our nurse-led model, ensuring that only the most skilled nurses are hired to care for our clients. We partner with healthcare colleges like Chamberlain University to utilize co-branded education as a platform for training nurses. We are also committed to hospital-at-home programs, as more and more care traditionally handled in hospitals is now being brought right to patients in their homes.
Enhanced by our Joint Commission Accreditation, our franchise network has a broad national presence, positioning us as an ideal partner for more major healthcare companies needing home healthcare services. BrightStar Care has established relationships with over 100 national accounts, offering a robust referral base for our franchisees from the moment they launch their BrightStar Care franchise.
New Technologies & Data-Driven Solutions
The home healthcare industry will rely more heavily on technology than ever before in 2024. Many home monitoring networks, business operations systems, and user interfaces have begun implementing artificial intelligence to improve efficiency– and BrightStar Care is embracing these changes. Our teams test emerging technologies to assess what could best serve franchisees and support them with day-to-day tasks. We often test new platforms in one of our corporate-owned agencies before rolling out new systems for franchisees.
BrightStar Care uses a proprietary technology platform to collect data and support franchisees by automating scheduling, payroll, and billing tasks. Over our 20 years in business, we have built a data hub that allows us to assess clinical outcomes and share our findings with healthcare referral partners. Recently, we entered into a strategic partnership with Biofourmis, a leading global technology-enabled care delivery provider. BrightStar Care stays ahead of customer demands for faster services by working with this forward-thinking technology company. We are connecting patients with clinicians faster than ever before and offering more customizable care options too.
Overall Sector Growth
Recent research valued the global home healthcare market at $390.24 billion in 2023. It projects the industry will grow by a compound annual growth rate of 7.96% in the next six years. With that impending growth, the number of suppliers in the home healthcare industry is also bound to increase. As more and more home healthcare providers enter the marketplace, having a connection to a credible, established brand will be a key differentiator for home healthcare providers in assuring clients of their quality of service.
BrightStar Care’s award-winning business model supports first-time business owners and franchisees expanding into new territories with expert support every step of the way. As the home healthcare industry becomes saturated with emerging brands, the brand recognition of BrightStar Care and our premier quality care can help franchisees find their footing and make a difference as the go-to care provider within their areas.
Are you interested in joining a brand ahead of the trends and owning a business that impacts your community? Contact us today to learn more about our franchise opportunities in your area.
