National home care provider LHC Group announced a partnership Thursday with the University of Louisiana that could give it an edge in recruiting and retaining healthcare workers over the next decade.
Lafayette, LA-based LHC Group is investing $20 million dollars in the University of Louisiana at Lafayette’s College of Nursing and Allied Health Professions that will provide both in-person and virtual degrees in 55 offerings to LHC Group employees at a reduced cost. The program will be available to both full-time and part-time employees.
“This is a unique opportunity for LHC Group to provide accredited educational and professional development opportunities to our employees throughout the country as we continue to grow,” LHC Group chairman and CEO Keith Myers said in a statement.
Myers hinted at the partnership earlier this month during a webinar with investment bank Barclays. He said the company was looking to form partnerships with nursing schools because offering bonuses was no longer effective in recruiting and retaining healthcare workers.
Demand for home care and home healthcare workers is expected to increase roughly 34% over the next decade according to the Bureau of Labor Statistics. The industry is also trying to contain turnover, which has been increasing since the pandemic.
LHC Group Chief Medical Officer Benjamin Doga, M.D., called the partnership a “win-win” for the community and an industry in dire need of healthcare workers as the population ages.
The $20 million investment includes funds for capital improvements, additional faculty, student scholarships and support for the college’s simulation lab program.
LHC Group is one of the nation’s largest providers of in-home healthcare services. The company operates in 35 states and the District of Columbia, employing 30,000 people.