The Global elder care market has been on a steady and constant rise since the early 2000s. Traditional ways of senior care were limited only to nursing or residential care homes where our elder generation would have to move into. This meant that almost always, it was the elderly who would have to compromise on the comfort of their homes, their neighbourhood, their families, and ultimately, their identities.
In recent times, however, industry leaders started asking themselves the right questions. Why should the elderly have to be the ones to adjust and compromise? Why should they be the ones who have to move out of their homes and move into a new location? Why should the seniors of our society have to leave behind everything that they have worked for and accumulated during their entire lifetimes, be it material possessions or relationships?
Taking “senior” out of “senior-care”
Addressing this issue where the elders were the ones having to make the tougher moves are Elgin, Illinois based, In Home Personal Services (IHPS). Founded in 2004, IHPS has a clear and revolutionary goal that resonates within each of their team members – “Just do good”, to the clients, their families, the companies own team members, and their families as well.
Raised and driven by President and CEO Michael A Collura, the company quickly embarked on developing its brand into an innovation-led, world-class senior care franchise system. After years of dedication and hard work by Michael and his team, today IHPS stands poised as one of the most illustrious brands for senior care available in all of North America.
At IHPS, employees and stakeholders are led by their motto and mission “Making Home Care Affordable and Worry Free”TM. Here seniors are not seen as business opportunities or treated as clients, rather they are seen as valued members of their family, society, and community, one of which they have been a part of for generations.
Michael himself has been instrumental in creating a nationwide network of healthcare professionals who are ready to drop by for a face-to-face whenever and wherever required. He has successfully redefined senior-care in a manner that takes “senior” out of “senior-care”, an approach that lets them see amazing people regardless of their age and serve them to the highest degree. Subsequently, every senior that invites an IHPS caregiver into their home, is not only looked after by a trained professional but is also loved and cared for like their own family member.
A unique approach to caregiving
When Michael had started the company back in 2004, his purpose was clear. He set out to re-imagine senior care as a whole and make it more dynamic and user-friendly. He saw how a lot of seniors had to get displaced from their homes and move into facilities where many would not be able to cope because of not being in the comfort of their own familiar surroundings. With this, Michael established his company a cut above the rest and came up with his own differentiated approach.
At IHPS, it is not just about providing for the seniors but understanding the entire family dynamic is the key, explains Michael. The IHPS caregivers integrate themselves into the ways and functioning of the family rather than the other way around. Furthermore, each elder is provided with personalized support based on their individual needs and requirements. Not only can the seniors now stay in their own homes and environments but can also keep the same daily routines whether it is meal times, friends coming over or any other hobby they may have.
The structure set by Michael matches the perfect caregiver for each elder’s around-the-clock in-home care or individualized support care needs. The company offers a range of award-winning in-home care solutions from personal care, respite care, companion care, post-discharge care, emergency home care, live-in care, hygiene care, incontinence care, Alzheimer’s care, Parkinson’s care, arthritis care, overnight care, and more! What’s more, is that all these services are available at surprisingly low costs as compared to moving into an elder facility.
With their innovative and customer-centric outlook, at IHPS, they are all about being a rock-solid support system to the elders so that they may maintain the active, independent, safe and enriching lifestyle of their own choosing.
A selfless, ingenious, and lucrative future
“We love to see competition out there,” says Michael because it allows him to really validate the work that he is doing. Competition analysis has also benchmarked his company as one of the market leaders because the new-age and cost-effective solutions they have, place IHPS a few notches higher than the rest. He says that there is a tremendous need, now more than ever for quality healthcare so even in competition; everyone ultimately works together towards a greater cause, which remains to be Michael’s greatest motivator.
“Senior care was already among the most booming and investor-friendly sectors before the pandemic. Now, in the aftermath of its wake, we have seen first-hand the devastation and hardship felt by our economy and our health care system,” says Michael.
The pandemic has shed a lot of light on this industry and created new business opportunities. Data Bridge Market Research states that the overall elder-care market is growing with a CAGR of 7.0% in the forecast period of 2020 to 2027 and is expected to reach USD 1,944,028.05 million by 2027. Even before the pandemic, IHPS was all set for rapid expansion but with Covid-19 adding fuel to the fire, and IHPS being categorized as an essential service provider, they have further fast-tracked their expansion process to meet the need of the hour.
They are currently running a franchisee program to onboard other like-minded entrepreneurs who want to contribute to elder care. Franchisees that become a part of the IHPS chain are provided support from training to lifelong support of their daily business operations. The only condition that Michael has is that all franchisee partners must be deeply invested in the services the company provides and most importantly, they must have genuine affection and care for the elders they serve.
“Our changes as an impact to the pandemic were necessary, but also in our line of work, we were already as prepared as anyone could have expected. We were in place at a time when we were needed and yes, it is with pride and humility that we were able to care for so many during this pandemic.”
Michael has now been in the industry for over 15 years where he and his company have continued to receive positive reviews and appraise for their ground-breaking approach and selfless contributions to the eldercare industry. They have overcome many hurdles and challenges and never gotten bogged down if an obstacle stood in the way of their service. Through constant transformation in their processes and with the sole aim to make healthcare easily accessible and cheaper, IHPS strides on to create and deliver their revolutionary solutions.
“The future looks very bright and we are excited to be on this journey,” says Michael inviting investor and franchisee building opportunities. He adds, “We are rapidly expanding already in 2021 and 2022 and the decades beyond are looking very good for our industry and our brand.”