Yes, the standard indicates that it is applicable if the equipment can be used in the home, even if the device is for example owned by a hospital, set up by the hospital, and only given to the patient for temporary use.
The standard is new and there are some parts which I think are controversial, such as the IP and Class II ratings. There are also some expensive tests for performance under various stress tests like vibration and temperature.
These expensive tests are controversial for two points: 1) why just home use? They should apply to all equipment. 2) in the real world, a degree of engineering judgment is necessary i.e. look at the individual design what tests are important. Some equipment is sensitive to temperature and humidity so careful tests over the full normal environment is reasonable, other types are sensitive to vibration. To keep the costs down, the manufacturer should be able to select the tests as appropriate for the device (I hesitate to say risk management, since it is really an engineering judgement).