The 2022 Financial Management Conference in Las Vegas, Nevada is over, but it was filled with important and useful private duty education that you can still consume if you attended the conference and missed something of value.
“Listening in on the sessions that focused on private duty was great! Everything was taught by industry experts whose knowledge I’ve relied on for years,” said Private Duty Home Care at NAHC Executive Director Kristen Walker. “As a former home care agency owner, I found all of it beneficial to running a private duty business.”
FMC 2022 featured nine education sessions of interest to private duty executives and financial professionals. Here they are again, in case you missed any one of them.
Recruitment and Retention: Strategies to Overcome Staffing Challenges
The biggest challenge for Home Health and Hospice providers, now and well into the future, is dealing with workforce challenges. The key for maximizing the ROI is to focus on retention. This session will help guide your decision making around compensation, professional development, growth potential for staff and overall company culture, which all influences employee retention. There are winners and losers when it comes to talent – this session will offer the takeaways you need to ensure you are a winner!
The Secrets Hidden in Your Financial Statements
In evaluating mergers and acquisition opportunities, we tend to focus mostly on a prospect’s revenues and earnings, but there is so much more to glean from financial statements and other related reports. These clues can help solve the valuation riddle that relies upon income, growth, and risk. In this session, we discuss the hidden gems to look for, what they mean, and how they might impact a buyer’s and seller’s acquisition or divestiture decisions.
Utilizing New Technologies to Automate and Transform Your Company
Medicine is changing rapidly, and the agencies able to do more with less will be able to grow and improve their margins and outcomes. Learn what technologies are transforming home health and hospice, including artificial intelligence, wearable tech, and process automation, and discover how to use these innovations to move your agency into the future.
Turning Vision into Value: Top 3 Business Opportunities for Private Duty Agencies
Older Americans with chronic illness and other maladies of aging insist on remaining as independent as possible and aging in place. This presents the Private Duty arena with enormous opportunities. How can Private Duty agencies set themselves apart? What innovations have you yet to capitalize on? Industry experts will discuss several opportunities that your organization can take advantage of to serve your communities better while also increasing the value of your organization and having meaningful positive impacts on your bottom line. This session will touch on the top three business opportunities for Private Duty agencies and help your organization become a trailblazer.
Creative Ways to Expand Your Workforce
Home-based care workforce capacity has reached a tipping point with the demands of COVID-19. Organizations have experienced a crisis leading to increases in turnover, retirement, and burnout, while facing critical demand for care. New solutions that are grounded in what motivates the workforce must be developed to meet this demand.
Together, we’ll explore highlights from a recent data analysis surfacing the attributes of today’s caregiver and how to expand hiring and onboarding strategies across the entire employee journey. We’ll also consider new thinking on workforce strategies including the financial and operational components of working with internships, universities, and training institutions.
Developing Talent Within: Mentoring Middle Management to the C-Suite
Talent is one of an organization’s most valuable assets. Filling C-Suite roles from within the organization provides smooth transition of management and extension of company values and culture. Achievement of internal promotion into CEO, CFO and COO roles requires a strong intentional mentoring and leadership plan to give aspiring managers the opportunities to develop necessary executive skills. Over the past year, nearly 30 million Baby Boomers retired, making it more important than ever to develop a strong succession plan for organizational leadership.
Diversifying Service Lines
Home care market transformation is rapidly impacting how services are funded, the scope of services provided in the home, the complexity of patients being cared for in the home, and the expectations to improve health and cost outcomes. Diversifying service line offerings could be a valuable tool to strategically position providers to meet these market demands. This session will benefit organizational leaders with an understanding of the strategic, financial and outcomes benefits of a range of complementary home care products such as private duty, hospice, behavioral health, care management, visiting physicians and personal care.
Choose Home Care Act: Its Impact on Home Care Agencies
The Choose Home Care Act, introduced in 2021 on a bipartisan basis in both the U.S. House and Senate, aims to increase access to care in the home following hospitalization for eligible Medicare beneficiaries by providing a post-acute option for nursing home level services at home. This Act represents significant changes and opportunities in the delivery of home care for agencies and their patients.
Staffing Strategies in a Pandemic World and Beyond
Staffing issues have become more prominent in the home-based services industry. Forward-thinking agencies are constantly seeking ways to recruit, lead, and retain a competent and satisfied workforce. As the industry moves beyond COVID-19, it is time to consider a strategy to not simply fill positions but look at business goals, meaningful work, and future opportunities.
Look for more private duty education coming from NAHC soon, such as:
Hope to see you at all of them!
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5 REASONS TO ATTEND FMC2023
HOSPICE EDUCATION
Hospice benchmarks are like beignets; there are lots of them, everyone thinks they are great, but too many of them may not be good for you. This session will focus on key Hospice benchmarks-both internal metrics you should be tracking and disseminating, as well as publicly available such as the PEPPER report. This session will review the critical KPIs every hospice agency should be monitoring (and the appropriate time period in terms of reviewing the metrics), explain how KPIs can be used to move the needle on performance, and help attendees understand the key clinical and operational metrics that drive financial success.
The Medicare Advantage Value-Based Insurance Design (VBID) Hospice Benefit Component demonstration entered Phase 3 January 2023. Most MAT Organizations have chosen to volunteer participation for at least some of their MA Plan Packages, which makes Hospice care among their benefit offerings. The four-year demonstration program started in January 2021 and has grown in scope, but aspects of the model are changing over time. This session will provide insights into key elements of the model, including various hospice providers’ experience under the model, key considerations related to contracting with MA plans as an in-network hospice provider and what providers that are out of network must consider. The demonstration has released the first annual report and the results will be reviewed in this session.
EXPO
