The COVID-19 pandemic has contributed to substantial cost increases for home care services, according to the results of Genworth’s 2020 Cost of Care Survey, announced Wednesday.
“Providers have been competing with higher-paying, less-demanding jobs for years, but with COVID-19, they told us it has become much more difficult to recruit and retain care professionals because of factors such as concerns about exposure to COVID-19 and parents needing to stay home with school-aged children,” said Gordon Saunder, Genworth senior brand marketing manager.
In a supplemental study on why costs are rising, owners and senior administrators of 79 providers cited a workforce shortage, personal protective equipment costs, wage pressures, higher recruiting and retention costs, and regulatory, licensing and employee certification costs are forcing them to increase the cost of care they are providing under “extraordinary circumstances.”
The 2020 results came from about 15,000 surveys completed by key decision makers in home care providers, adult day health facilities, nursing homes and assisted living communities contacted by CareScout, a Genworth Financial company.
