Certainly, it is not a secret that the population of the United States is aging. According to the United States Census Bureau, adults over the age of 65 currently account for 16.5 percent of the country’s population, with projections indicating that by 2050, that figure will climb to over 86 million and 20 percent.
A number of companies are focusing their efforts on meeting the national demand for their products and services as the country’s population continues to age. Taking care of this rapidly increasing demographic is becoming the primary mission for a number of companies looking to meet this need on a national scale – right here in the United States.
AP-National Opinion Research Center found that 90 percent of seniors want to remain in their homes for as long as possible rather than in a hospital, nursing home, or assisted living facility, according to recent research.
Dr. Sarita A. Mohanty, president and CEO of The SCAN Foundation, an independent public charity devoted to transforming care for older adults, which funded the study, said, “Americans continue to have a strong desire to age in their own community – whether in their own home or in the home of a loved one – and this is not just a byproduct of COVID-19 fears.”
As Americans live longer lives, the health of aging adults is jeopardized by a significantly increased risk of chronic disease. As listed on HealthPeople.gov, which is the principal informational branch of the Office of Disease Prevention and Health Promotion of the Department of Health and Human Services, the most common chronic diseases include the following:
- Heart disease
- Cancer
- Chronic bronchitis or emphysema
- Stroke
- Diabetes
- Alzheimer’s Disease
A recent survey, conducted by the agency in 2012, found that 60% of older persons were compelled to manage two or more chronic health disorders, necessitating the use of medically advanced health care to address difficulties that were previously solely addressed by hospitals, the agency claims.
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In the United States, an increasing number of seniors are living at home, and their increasing health-care demands and desire to be treated and cared for at home have created a bonanza for the home health care business and fast-growing players such as Cincinnati-based Quipt Home Medical Corp. (NASDAQ: QIPT; TSX: QIPT).
In the last few years, the clinical respiratory company has experienced exponential growth, reaching 170,000 active patients at 76 locations throughout 15 states.
Quipt accomplished six acquisitions in 2021 alone, including one in central Illinois in Q4 2021, which resulted in an additional 3,700 active patients. This helped to propel the company’s expansion.
As a provider of comprehensive in-home monitoring and disease management services, including complete respiratory solutions, the company plans to expand its offerings to include the management of several chronic disease states, with a particular emphasis on patients with heart or pulmonary disease, sleep disorders, and reduced mobility among other chronic illnesses.
According to Quipt, the company’s quick expansion is delaying its objective of becoming a national home health care provider specializing in respiratory treatment. The company claims to utilize a patient-centric methodology to satisfy the unique needs of each patient in its senior ecosystem.