Welcome to the June 2022 Home Care Data Point from NAHC and Home Care Pulse. For this data point, survey participants in NAHC and the home care industry were asked “What do you see as the top three threats to the future growth of your business in 2022?”
To read the top five answers from survey respondents, please read on.
Stay tuned to Private Duty Source for the monthly Data Point.
Billing Rates – whether you’re a new agency owner or you’ve been in business for twenty years, you’re at risk of either leaving money on the table or charging too much unless you’re continually evaluating your billing rates and following an intentional, informed strategy. There’s no single way to decide on the right rates, but there are guiding principles and steps to help you. Here’s the process we recommend using to decide how much you should charge your clients for home care services:
- Use rate benchmarking and market research to get a baseline
- Consider your long-term strategy and positioning in the market
- Work backwards to set prices based on your goals and forecasted expenses
To learn more, check out: How Much Should Your Home Care Agency Be Charging Clients?
As the COVID-19 pandemic continues, there continues to be a focus on keeping our aging population in the home. As an industry, we’re maturing and need to continue to use solid data when pursing and working with professional referral and payer sources.
In home care in 2021, every agency should be tracking (1) hospital readmissions (2) ER visits (3) client falls (4) Client NPS Scores (5) Caregiver eNPS Scores to not only track outcomes at your agency, but show the value we add to the entire continuum of care.
Additional Resource: Why Your Home Care Agency Needs to Track Hospital Readmission Rates in 2021