Hospice News March 20, 2023
Hospices are blazing trails toward growth, each provider with its own range of strategies. In 2023, the focus for many is to not only expand their core business but to spread further into the care continuum.
Others are traveling a more traditional route, through de novos and acquisitions, though some are modifying their approaches in a volatile economic environment.
Regardless of providers’ disparate methods, hospice remains a high-growth industry, expanding at an annual rate of 7% to 8% annually, Bank of America (BofA) Global Research reported in TKTK.
By 2030, the hospice market’s total dollar value is expected to nearly double, reaching $64.7 billion, up from $34.5 billion in 2022, according to the data firm ResearchandMarkets.
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