Home health utilization rose by 5.1% in February compared to the same month last year — outpacing the 3.9% increase for overall healthcare utilization. That was just one of the findings in the latest economic indicator report by healthcare consulting firm Altarum.
While spending on home health slowed somewhat compared to January, it still remained fairly robust. In February, home health spending expanded by 8.2% year over year. In January, it climbed 9.2%. Still, home health spending eclipsed the 4.9% increase for healthcare spending overall during February.
Altarum researchers attributed the growth in home health spending and utilization to the continued movement of care into the home.
The report also highlighted pain points the healthcare industry continues to experience as it emerges from the COVID-19 pandemic. In March, the industry added just under 34,000 jobs, a decline in the roughly 54,000 jobs the industry averaged in each of the first two months of the year.
Still, there was encouraging news for providers when it came to wages. In February, healthcare wages expanded by 4.3% — slightly less than total private sector wage growth of 4.6% for the month. Although wage growth for the entire healthcare industry has been declining since the middle of last year, wages still remain a high priority for clinicians seeking jobs.
A recent study by healthcare job site Vivian Health found that registered nurses who had left full-time jobs for contract work during the pandemic were interested in obtaining permanent positions, as long as wages are competitive.
