Home care agencies have become a critical component of the overall healthcare system, providing individuals with the care they need, all while saving the system the expense of high-cost alternatives like hospitalizations or long-term care options. As baby boomers continue to age, the demand for in-home care services is bound to increase. This provides the home care industry with a significant opportunity for growth, but how do agencies ensure they are among the businesses that swim, rather than sink, in this newly competitive market?
Increasing referral revenue should be top-of-mind for all home care providers. But, as an agency grows, it becomes nearly impossible to manually track and manage referrals from hospitals and payers. Instead of suffering through traditional referral management methods, providers would benefit from an integrated system that allows for direct communication with the source, including insurance companies, managed care organizations (MCOs) or state and federal payers. Once providers have implemented an open line of communication with payers and streamline the referral process, they can focus their efforts on expanding the agency and providing high-quality care to its growing number of members.
Not only will a streamlined agency management system help to increase referrals, but the quality of care provided to members will also contribute to an increase in new patients. We’ve all heard the term “value-based care” thrown around the health care industry, as well as in the home care space. MCOs are under a great deal of pressure to improve care outcomes while controlling costs, and in turn, similar pressure is being put on providers. Because of this, MCOs will be assessing providers with a focus on their ability to deliver value. Home care providers that can demonstrate their value by providing efficient and effective care will have a significant advantage in this value-driven landscape. These providers will inevitably benefit from increased MCO referrals and in turn, the opportunity to grow the agency.
As an agency’s member base grows, it is difficult to keep up with Medicaid eligibility requirements manually. An agency management system keeps track of changing regulations and requirements, ensuring providers are always in compliance and get paid for the services they provide. An integrated system will immediately alert providers to any member with an eligibility lapse, who is no longer eligible for services, ensuring consistent reimbursement.
An agency management platform also tracks marketing efforts on behalf of providers, to gain insight into what campaigns are driving referrals and where they should invest more resources.
As home care providers look to gain more patients in this changing landscape, investing in an integrated solution that fosters agency growth is key. Providers need insights into patient eligibility, referral sources, and marketing resources, without spending an enormous amount of administrative time on these initiatives. An integrated agency management system can provide these insights so agencies can focus on providing the best care to its growing member base.
Learn more about how your agency can grow its member base with an integrated agency management solution.