Home Care 100 2023 Recap
Author: Harper Dion
Posted: February 14, 2023
Every year Lincoln Healthcare Leadership coordinates the pinnacle event of post-acute thought leadership, the Home Care 100 Leadership Conference. This invaluable opportunity for education and networking is phenomenally coordinated year after year, and once again our leadership team had the opportunity to attend. Our team had an enlightening time studying current trends, upcoming issues, and of course, reconnecting with our wonderful partners and friends within the industry. Throughout the week there were a few recurring themes to look for in the future. These themes include the need for centralization and optimization, and intuitive, analytical solutions for unprecedented industry issues. Although many circumstances were mentioned, the central theme this year kept circling back to technology. This year, many entities within the industry are expected to consider how they streamline non-patient-facing operations. With these issues mentioned, below are the main insights and takeaways from our executive leadership team here at MHA.
Non-Medicare Payor Types
Profitability is the cornerstone that allows any operation to continue and flourish. Within profitability, we have seen countless questions regarding payor source setup, payor types, and payor management. Many agencies are struggling with profitability by payor type, most importantly being able to account for back-office time. After reports are filed it's difficult to document the time spent on a patient's file while not physically attending to them. This time is essential to document because it allows the practitioner to execute informed decisions on re-negotiation of payor rate. Furthermore, it is common for payor contracts to lose focus after the initial agreement. In-depth analytical solutions streamline this process, ensuring these contracts are remembered and updated while rates are regularly negotiated.
Centralization, Automation, and Optimization
The unfortunate precedent of understaffing and employee burnout requires inventive solutions to increase the overall quality within post-acute territory. The push towards holistic agency centralization is the first step. Once centralization has been established, moving towards automation of non-patient facing tasks is the usually advised solution. Although this sentiment can overhaul agency operations, our experts have noticed smaller agencies tend to be forgotten in this conversation of progress. Many times, the backend tasks of smaller agencies are spearheaded by a team of only a few people. Centralization and automation of these tasks would cost more money than any issues arising from burnout.
The team at MHA is ready to start a conversation around analytics-backed optimization for smaller agencies. Data-backed, localized optimization of tasks is an inventive solution for situations where centralization isn’t viable. Our team can come in and provide your backend experts with the tools they need to streamline operations, ultimately increasing profitability and fighting burnout.
Solutions
Encountering operational issues, eventually affecting employee satisfaction and financial progress is never easy. However, finding the root of these problems is an essential first step to transforming the future of your agency. MHA is here to help diagnose and remedy these new-age industry issues. Issues with payor types, backend operations, employee satisfaction, and agency streamlining all tie back to data. Administrative software such as EMR systems, scheduling, and payroll must appeal holistically, so it’s unlikely any platform will be 100% perfect for your operations. This is where third-party insight is essential to reach the next level.
MHA’s team of experts begin with a comprehensive assessment of operations, identifying all opportunities both internal and consultant driven. From there, we employ our intuitive analytical systems. The result is a report outlining every opportunity for growth. This data is used to make recommendations for optimization, going as far as sourcing technology from our partners to actualize your agency’s ultimate goals. MHA acts as a full-service solution, optimizing every level of an agency regardless of size and EMR.
If you’d like to learn more about our transformative analytical and technological solutions, visit www.maxwellhca.com, or contact us at [email protected].