Homecare Technology Leader Significantly Expanded Client Base, Earned State EVV Aggregator Awards, and Acquired Premier Self-Direction Technology Company
NEW YORK, NY, January 12, 2021 – HHAeXchange (“HHAX” or “the Company”), the leading provider of homecare management solutions for payers, providers, and state Medicaid agencies, today announced that the Company added 550 new logos to its client roster during 2020. The HHAX SaaS platforms now touch nearly 6,000 homecare providers and payers, covering more than 1 million lives.
2020 proved to be a period of increased awareness and expansion for the homecare industry, a new normal resulting from the COVID-19 pandemic creating a greater need for safe care in place. The U.S. Bureau of Labor Statistics projected the home health industry will grow 54% between 2016 and 2026, as more people turn to home and community-based services as a way to safely receive care in uncertain times.
Increased demand requires that the industry scale to support both caregivers and those needing services. This year, the Company reported greater adoption of its Electronic Visit Verification (EVV) technology, which offers the capacity to manage additional compliance and data requirements mandated by payers and state Medicaid agencies. Additionally, to combat the spread of COVID-19, HHAX developed a Caregiver Screening Tool, which has screened more than 100,000 caregivers for signs of infection.
“HHAeXchange is incredibly well-positioned for the rapid growth projected in the homecare space,” said Greg Strobel, CEO of HHAeXchange. “We are fortunate to have built a strong foundation over the past decade, and our team is constantly innovating to meet the growing demand placed on providers, payers, and states to ensure their homecare goals are met, clients or members are appropriately cared for, and caregivers are supported.”
As the need for traditional homecare services has grown, so too has the interest in self-direction as a strategy for long-term care services. Identifying this trend and those behind the effort to develop innovative programs, HHAX acquired Annkissam, a leading provider of software for self-directed services, in October 2020. According to Annkissam, self-directed services increased by nearly 20% in the first nine months of 2020 and are expected to continue to expand nationally as a method to improve quality and lower the cost of care. COVID-19 highlighted the importance of self-direction as many clients preferred or at least explored this option in 2020.
HHAX also celebrated two state EVV aggregator wins this year, having been awarded contracts by both the West Virginia Bureau of Medical Services and the New Jersey State Medicaid agency to aggregate Medicaid beneficiary visit data on their behalf. The Company will support the states’ open EVV models by consolidating all visit data regardless of the EVV system being used, reducing administrative burden, and delivering powerful data visualization and analytics dashboards to manage provider compliance and ensure all participants are receiving the right care, at the right time.
2020 also marked the sixth consecutive year that HHAeXchange was named to the Inc. 5000 List, the most prestigious ranking of the nation’s fastest growing private companies, achieving a distinction earned by a very small percentage of companies. Newly acquired Ankissam also received recognition as a Top Place to Work by the Boston Globe for its third consecutive year.