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Home care providers have the potential to impact a greater number of patients, enhance health outcomes, and promote health equity by capitalizing on opportunities within Medicare Advantage (MA) plans. The growing prevalence of MA plans offers home care providers various tools to attract more patients, with the Value-Based Insurance Design (VBID) model identified as an opportunity in a HealthAffairs report. This model provides MA organizations with strategies to expand their client base and reduce costs by utilizing broader "targeting criteria," such as frailty. The report emphasizes that relying solely on claims-based diagnosis criteria may overlook a significant portion of vulnerable individuals lacking the necessary medical claims to support their need for home care.
McKnights Home Care recently interviewed Greg V. Sanchez Jr., Ph.D., Chair of the HCAOA California Chapter and Owner and Operations Director of Home Instead - Pasadena & Monrovia. Sanchez speaks with McKnights reporter Liza Berger about how his nontraditional background as a chemist in the pharmaceutical industry for 15 years has helped him in his role in the home care industry and shares insights into his unique approach to running a nonmedical home care business. Announcing NEW isolved exclusive offer for HCAOA members that includes a 20% discount with a 3-year price lock guarantee and free access to the isolved HR Support Center!
Is your business struggling with high employee turnover? In a high-impact industry with quick employee burnout, ensuring a great employee experience is key to attracting and retaining top talent. As a home care provider, you have complex compliance, taxation, scheduling, and time and payroll needs that we understand. isolved's People CloudTM platform helps to free up administrative tasks so you can focus on what matters most: patient care. HCAOA is proud to announce that the Elizabeth Dole Home Care Act has passed the U.S. House of Representatives!
With the termination of pandemic-driven Medicaid funding by the federal government, states are now confronted with the responsibility of covering the expenses for Medicaid long-term services and supports (LTSS), which includes home- and community-based services (HCBS). The Federal Medical Assistance Percentage (FMAP), supplemented federal Medicaid funding to states, is scheduled to phase out next month under the Consolidated Appropriations Act of 2023. A report by KFF anticipates that to compensate for this reduction in funds, state Medicaid spending is estimated to surge by more than 17% in the coming year.
HCAOA encourages all providers considering the Guiding an Improved Dementia Experience (GUIDE) Model to thoroughly assess its financial feasibility. It is crucial for home care providers to carefully evaluate the associated expenses tied to participating in the GUIDE Model. This includes the costs of providing in-home respite care and conducting in-person face-to-face live assessments, both mandated components of the GUIDE Model. Furthermore, assessing the financial implications helps home care providers determine whether the GUIDE Model allows for profitability under the payment rates set by the Center for Medicare & Medicaid Services (CMS). This evaluation is critical in determining if implementing the GUIDE Model allows your business to meet its financial goals and is sustainable for your home care agency. |
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