The Home Health Care Wire
Your source for CareVoyant and industry news. July 26, 2023
Key Performance Indicators for Home Care – Census and Financial
Key Performance Indicators (KPIs) can provide insight into operations and setting appropriate business goals for home healthcare agencies. Selecting the correct set of KPIs for Census and Financial operational areas will help home care agencies to measure the current performance, set goals going forward, and measure the progress towards meeting those goals. Right Home Health Care Software platform and technology will help agencies capture accurate data and report to implement the KPIs.
Key Performance Indicators (KPIs) can play a crucial role in helping home care agencies to meet these challenges, continue to grow, and improve the bottom line. KPIs can help agencies measure current performance, identify areas for improvement, set operational goals, and ensure the goals are met. Understanding KPIs and selecting appropriate ones for the organization will help agencies improve operational efficiency and meet their growth goals.
This blog will discuss the definition of Key Performance Indicators (KPIs) and why they are critical for effectively managing Home Care Agencies.
Even though these rules have now been in vogue for a while, most private duty nursing and non-medical agencies have to strike a careful balance between the high quality and continuity of care they provide and minimizing the overtime cost.
With falling reimbursements from third-party payers, and trying to strike a balance between expectations and quality of service for private pay patients, most home care agencies are trying to adapt their business models to limit caregivers to 40 hours a week.
Home Healthcare Industry News
Medicaid Managed Care Has High Rates of Prior Authorization Denials
A report by the Office of Inspector General (OIG) finds Medicaid managed care members may not be receiving all medically necessary services.
MACs warn of claim errors around updated MBIs
Medicare administrative contractor (MAC) Palmetto GBA is alerting providers to an issue where agencies are failing to log when a new Medicare Beneficiary Identifier is assigned to a patient.
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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.