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‘Nothing Is Recession-Proof’: What an Economic Downturn Means for Home-Based Care Providers

While the U.S. economy has sunk into its first official recession since 2008, home-based care experts are largely confident in the industry’s ability to withstand emerging economic hardships. In fact, recession-proof” is the term many often use. Soaring demand, an evolving payment landscape, and shifting consumer demographics may protect home-based care providers from too much disruption. But there is a slew of additional factors related to this specific recession — caused by the COVID-19 virus — that could hurt home-based care providers moving forward. I think it’s just a widely thrown-around moniker that these businesses are recession-proof,” 

Eugene Goldenberg, a managing director at Edgemont Partners, told Home Health Care News. Nothing is recession-proof. Even though health care is much more of a defensive industry — and kind of continues to grow through the ups and the downs — what we’ve seen with COVID-19 is that there are certain pockets of sub-sectors within health care that obviously fared much better than others.”