Learn about how home healthcare growth is outpacing the expansion of regulations.
In recent years, the home healthcare industry has increased in popularity. As America’s population continues to age, this trend is expected to continue. Unfortunately, regulations that govern the operations and safety of home healthcare services have not kept pace with the industry’s growth, leaving many elderly and sick patients at risk. Here’s why you should be aware and concerned that home healthcare growth is outpacing the expansion of regulations.
The main concern about the lack of regulations is what it leaves already vulnerable populations even more at risk. For instance, the lack of regulations means that elderly, sick, or mentally impaired patients are left at the mercy of care providers. While many home healthcare providers are compassionate medical professionals, the lax regulations have made it possible for unqualified, untrustworthy individuals to join the home healthcare industry as well. Naturally, this leaves patients vulnerable to issues such as assault, battery, theft, neglect, fraud, and so on.
Fortunately, state and federal regulators have begun to recognize the seriousness of these issues and have worked together to increase home healthcare regulations. Today, 70% of states now require healthcare providers to be officially licensed. Additionally, the Centers for Medicare & Medicaid Services have also implemented strict training, regulatory oversights, and safety standards to protect patients. While these changes are slow-coming and continue to lag behind industry growth, improvements and protections are starting to take shape.
This is what you need to know about the fact that home healthcare growth is outpacing the expansion of regulations. Do you need help insuring your client’s home healthcare business? If so, then contact the experts at PMC Insurance Group. Our dedicated team is eager to assist you with all your commercial coverage needs today.
