Hospices & Palliative Care Centers
This article provides insightful industry analysis and research into the Hospices & Palliative Care Centers industry. This article discusses the definition, key industry products, and activities along with major industry trends. Understand the revenue model, a brief history of trends during the current century, and key challenges currently being faced by the Hospices & Palliative Care Centers industry.
What is Hospice?
Hospice is a type of care and a philosophy of care that focuses on the palliation of a terminally ill or seriously ill patient's symptoms. Traditionally, hospices were places of hospitality for the sick, wounded, or dying, as well as those for travelers and pilgrims and now the modern concept of hospice includes palliative care for the incurably ill given in such institutions as hospitals or nursing homes, but also in their own homes. In hospice care, the main guardians are the family care giver and a hospice nurse who makes periodic stops. Hospice can be administered in a nursing home, hospice building, or sometimes a hospital; however, it is most commonly practiced in the home. In order to be considered for hospice care, one has to be terminally ill or expected to die in six months.
What is Palliative Care?
The term "palliative care" refers to any care that alleviates symptoms, even if there is the hope of a cure by other means. Palliative care (from Latin palliare, to cloak) is an area of healthcare that focuses on relieving and preventing the suffering of patients. Palliative medicine utilizes a multidisciplinary approach to patient care that allows the palliative care team to address physical, emotional, spiritual, and social concerns that arise with advanced illness. Medications and treatments are said to have a palliative effect if they relieve symptoms without having a curative effect on the underlying disease or cause. It is an approach that focuses on the relief of pain, symptoms, and emotional stress brought on by the serious illness.
Why Hospices & Palliative Care Centers?
Hospice care represents a compassionate approach to end-of-life care, enhancing the quality of remaining life, and enabling the patient to live as fully and as comfortable as possible. For many seriously ill patients, hospice and palliative care offer a more dignified and comfortable alternative to spending your final months in the impersonal environment of a hospital. Palliative medicine helps patients manage pain while hospice provides special care to improve the quality of life for both the patient and their family. Seeking hospice and palliative care isn’t about giving up hope or hastening death, but rather a way to get the most appropriate care in the last phase of life. Hospice can reduce anxiety in both the terminally ill patient and his or her family by helping them make the most of the time remaining and achieve some level of acceptance. Since a hospice program offers substantial support and training for family caregivers, it also helps many patients feel less of a burden to their loved ones.
Levels of Hospice Care:
There are four levels of hospice care:
- Routine home care
- Continuous home care
- General inpatient care
- Inpatient respite care
What is the Hospices & Palliative Care Centers Industry?
This industry provides programs that offer symptom relief and pain management for patients with life-terminating illnesses. Hospice care applies to companies that administer care (in terms of comfort rather than cure) to patients with life-limiting illnesses or diseases.
Industry Activities for Hospices & Palliative Care Centers Industry:
- Providing continuous home care
- Providing general inpatient care
- Providing routine home care
- Providing inpatient respite care
- Providing hospice and palliative care
Trends and Challenges in Hospices & Palliative Care Centers Industry:
Given below are the key trends and challenges currently faced by this industry:
- Rising reimbursement from Medicare and Medicaid
- Aging population
- Healthcare reforms
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