The Home Health Care Wire
Your source for CareVoyant and industry news. January 17, 2024
Agency Guide: Service Diversification for Lasting Stability and Growth
Home Health Care Agencies should adopt diversification strategies to mitigate the impact of reimbursement cuts. Expanding into new services, such as Certified Home Health, Non-Medical Personal Care, Private Duty Nursing, Therapy at Home, Pediatric Care, Mental Health, etc., will help home care agencies hedge against revenue and reimbursement risks in home care services. Diversification of services will also help agencies maintain continuity of patient care and improve patient satisfaction.
In addition to expansion of services, home care agencies can also explore diversification of payers to mitigate the regulatory and reimbursement risks.
Medicaid beneficiaries are increasingly receiving LTSS through HCBS. In fiscal year (F.Y.) 2016, Medicaid programs spent approximately $94 billion on HCBS. The federal government and the states spent $116 billion on Medicaid home and community-based services (HCBS) in F.Y. 2020, serving millions of elderly adults and people with disabilities. That is a significant increase in HCBS spending.
Home Health Care Agencies looking for growth and expansion should consider HCBS services as one of the options.
This blog will discuss 7 must-have software features required to manage HCBS Home Care Agencies efficiently.
Home Care Agencies providing Home and Community-Based Services (HCBS) face many challenges in implementing EVV solutions to meet CURES Act requirements. Home Care Agencies should take a holistic approach in finding the right home care software partner to implement EVV rather the settling for the solutions provided by the state or managed care providers. Taking an integrated approach will improve operational efficiency and the agency's bottom line.
This blog will review the key factors Home Care Agencies should consider in selecting the right home care software to implement EVV in their agencies.
Home Healthcare Industry News
CMS Details State Spending Plans for Home & Community-Based Services Under American Rescue Plan
The spending plan summaries illustrate how states expect to spend $36.8 billion on activities to enhance, expand, or strengthen home and community-based services (HCBS) under Medicaid. States’ activities focus on workforce recruitment and retention, workforce training, quality improvement, efforts to reduce or eliminate waiting lists, expansions of the use of technology, opportunities to support caregivers, and ways to address social determinants of health and promote equity.
How Home Health Providers, Payers are Adapting to New Referral Patterns
Prior to the COVID-19 pandemic, it wasn’t uncommon for home health agencies and other post-acute care providers to beg hospitals to be a part of their post-acute networks.
Three years later, that’s generally not the case. The referral patterns in home-based care have seen a radical shift, and agency leaders are still adjusting to those changes and making adjustments on the fly.
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.