Discover how ONE Software supports service diversification by integrating tools to manage multiple services and improve operational efficiency in home care.
Overview
The home healthcare industry is set to experience rapid growth in the next decade that will be difficult to keep pace with. Much of this growth is driven by demand – a larger senior population that prefers to age independently in the comfort of their own homes. Home care agencies with a growth mindset will have to keep up with increasing demand, despite regulatory and reimbursement challenges.
Some agencies might instinctively focus on increasing their volume of clients. While this is not necessarily a bad tactic, it might be beneficial for home health care agencies to think laterally instead of vertically.
Vertical growth entails heavily relying on demand, hiring within a narrow pool, and outperforming in a niche, competitive market. Verticality creates a rigid business model, less resilient to industry fluctuations. Lateral growth – or service diversification – helps home health care agencies increase flexibility and resilience.
Though there are growing pains associated with expanding into new services, the right Home Care Software can support agencies through the process. ONE software for ALL services establishes a durable foundation for home care agencies, facilitating operational efficiency and improved revenue cycle management.
Service and Payer Diversification
As demand, regulations, and reimbursements fluctuate, home care agencies that keep their assets in multiple buckets hold more water. Agencies that have invested in only one bucket suffer more from unsteady ground.
Though service and payer diversification might be prudent, it is not without its challenges. Non-Medical Personal Care has different requirements than Home and Community Based Services (HCBS). Both services are vastly different from Private Duty Nursing (PDN) or Pediatric Care. Expanding into a new service means hiring new skills and certifications, logging different pay rates, and creating new billing and payer procedures. Your agency must be prepared to bill Medicaid, Medicare, Private Insurance, and Private Pay.
Integrated Home Care Software can support agencies in their quest for diversification. Home care software should manage all services under ONE Software, ONE Patient, and ONE Employee Record, creating a consolidated platform for home care agencies.
ONE Software, ONE Patient, ONE Employee
By centralizing patient and employee records for multiple services, Home Care Software can streamline the scheduling, payroll, and billing process. This simplifies complicated, recurring tasks, and creates a steady foundation for home care agencies that provide multiple services.
1.ONE Patient
Home care agency management platform should keep one patient record for all services provided. This combines clinical and financial information under the patient. Caregivers, clinicians, and billers can then view all necessary information under one screen, improving both care quality and patient satisfaction.
2. ONE Employee
Maintaining one employee record for all services offered lets administrators schedule easily across all services. This reduces scheduling conflicts, helps manage overtime, and improves efficiency and employee satisfaction.
3. ONE Clinical View
Storing clinical records under one patient for multiple services helps caregivers and clinicians support cohesive care. Real-time updates to patient records improve care quality and patient satisfaction.
4. Multiple Payers
Home care billing software for multiple services should be able to manage and bill disparate payers without a ton of manual effort. Agencies should be able to manage billing for Medicare, Medicaid, Private Insurance, and Private Pay while meeting submission requirements and reducing claim denials.
Conclusion
Home health care agencies that hope to take advantage of industry changes should look laterally for lasting growth. Service diversification, rather than increasing client volume, makes agencies more resilient to regulatory and reimbursement fluctuations.
The right Home Care Agency Software for service diversification will operate under ONE Software, ONE Patient, and ONE Employee record. It should simplify complicated, recurring tasks, reduce manual efforts, and streamline scheduling and billing for multiple services.
FAQs
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Service diversification involves expanding the range of services offered by home healthcare agencies to include options like Non-Medical Personal Care, Home and Community-Based Services (HCBS), Private Duty Nursing (PDN), and Pediatric Care.
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Service diversification helps agencies stay resilient against industry changes, such as fluctuating regulations, demand, and reimbursement policies.
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Home care Agencies may face challenges such as hiring skilled employees, managing varying pay rates, and handling multiple billing and payer procedures.
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ONE software can centralize operations by managing all services under one platform, streamlining scheduling, billing, payroll, and clinical processes.
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"ONE Patient" refers to maintaining a unified patient record that consolidates clinical and financial information for all services provided, improving care quality and patient satisfaction.
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A single employee record allows seamless scheduling across multiple services, reduces conflicts, and enhances administrative efficiency and employee satisfaction.
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Yes, ONE software can manage billing for Medicare, Medicaid, Private Insurance, and Private Pay, reducing claim denials and manual efforts.
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By storing real-time updates in a centralized clinical view, caregivers and clinicians can provide cohesive and high-quality care.
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Lateral growth through service diversification creates flexibility, reduces reliance on niche markets, and builds resilience to industry fluctuations.
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Home care software key features include a unified platform for patient and employee records, streamlined billing processes, support for multiple payers, and tools to simplify recurring administrative tasks.
About CareVoyant
CareVoyant is a leading provider of cloud-based integrated enterprise-scale home health care software that can support all home-based services under ONE Software, ONE Patient, and ONE Employee, making it a Single System of Record. We support all home based services, including Home Care, Private Duty Nursing, Private Duty Non-Medical, Home and Community Based Services (HCBS), Home Health, Pediatric Home Care, and Outpatient Therapy at Home.
CareVoyant functions – Intake, Authorization Management, Scheduling, Clinical with Mobile options, eMAR/eTAR, Electronic Visit Verification (EVV), Billing/AR, Secure Messaging, Notification, Reporting, and Dashboards – streamline workflow, meet regulatory requirements, improve quality of care, optimize reimbursement, improve operational efficiency and agency bottom line.
For more information, please visit CareVoyant.com or call us at 1-888-463-6797.
Request for Information
To learn more about CareVoyant Software and how we improve the operational efficiency of Home Healthcare Agencies, contact us:
