Martin Simenc Presents Industry Outlook for Home Modifications at SIPP Conference
Martin Simenc, President of Home Safety Services, was invited to present a Home Modifications Industry Outlook at this year’s Senior Injury Prevention Project Conference held in Emeryville, California. The 300+ attendees heard an optimistic outlook for the rapidly evolving and growing field of home modifications.
Simenc explained how a confluence of developments is combining to form a “perfect storm” situation that will result in exponential growth in home modifications in the next few years. Some of the issues Simenc highlighted that will drive the market growth included:
- Growth of the aging population (“Senior Tsunami”);
- Recognition of the desire of seniors to remain at home;
- Growing efficacy of Home Modifications in preventing falls;
- Recognition that home is the lowest cost of care location;
- Dramatic increase in the number of providers;
- Growth of Accountable Care Organizations (ACO?s);
- Increased focus upon reducing hospital re-admissions;
- Home health reimbursements to be tied to fall prevention and ADLimprovements; and
- Cal-Duals & integrated healthcare systems piloting home modifications as a covered benefit.
Simenc concluded that “the above factors will combine to dramatically increase the adoption of home modifications resulting in a growth rate far in excess of the rate of population growth.”