In a bid to modernize and improve services, home care providers are increasingly considering collaboration with their competitors and adopting data-driven approaches. The potential benefits of collaborating with neighboring competitors include sharing knowledge, caregivers, and referral sources. This collaborative approach not only addresses caregiver shortages but also ensures timely and efficient care delivery, ultimately benefiting clients. Furthermore, industry leaders are recognizing the significance of data tracking and sharing. Collaboration in data sharing between agencies, payers, health systems, and other providers can enhance patient satisfaction and promote a seamless continuum of care.
Over the past few months, HCAOA has been working with the team at Careswitch to launch the Home Care Compensation Report, which offers a unique way for you to see detailed compensation data for caregivers, staff, and owners from other home care agencies. Until now, the report has only been available to participants in the survey. However, this report is now available to ALL HCAOA members.
New Report: Examining Health Outcomes and Characteristics of MA and FFS Beneficiaries with Chronic Conditions
Last week, a new report by Avalere Health and commissioned by Better Medicare Alliance was released examining health outcomes and characteristics of Medicare Advantage and Fee-for-Service Medicare beneficiaries with certain chronic conditions, including hypertension, hyperlipidemia, and diabetes.
New Study: Shortages Force 89% of Agencies to Turn Away Care + Agencies May Overestimate Caregiver Fulfillment
Eighty-nine percent of providers have had to deny home care because of the workforce crisis. On average, small- and mid-sized providers refuse 510 care hours each month, according to a new study released last week by MissionCare Collective, the parent organization of myCNAjobs. The study also notes that a majority of home care agencies have seen problems surrounding recruitment and retention worsen in the past six months.
HCAOA is urging ALL member agencies to complete a brief survey by the end of the day this Friday, June 16 to help our association advocate on your behalf regarding CMS’ new proposed rule that would require agencies to allocate 80% of their Medicaid reimbursement to worker wages. While the survey contains Medicaid related questions, HCAOA asks that ALL agencies respond regardless of whether or not they do Medicaid-related work.
Medicare Advantage beneficiaries living in a metro area are more likely to be enrolled in a plan offering at least one supplemental service, such as in-home care, than in rural areas across the U.S., according to new data released last week by ATI Advisory. The data was presented during the biannual meeting of the Special Supplemental Benefits for the Chronically Ill (SSBCI) Leadership Circle, which HCAOA sits on alongside representatives from the Long-Term Quality Alliance (LTQA), the Administration for Community Living (ACL) under the U.S. Department of Health and Human Services, the SCAN Foundation, and others.
Are you paying enough to be competitive? HCAOA has partnered with Careswitch for an in-depth study on home care compensation, including caregiver and staff pay, and owner compensation. The results will be revealed on June 15, from 2:00 – 3:00 p.m., EST, during a free webinar “2023 Pay Trends: How to Set the Right Compensation for Yourself and Your Employees.”
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CMS has announced the first-ever home and community-based services (HCBS) quality measure set. This voluntary measure set is intended to promote consistent quality metrics within and across state Medicaid HCBS programs.
Last week, the Better Medicare Alliance released we just released the 2022 State of Medicare Advantage report, which compiles the latest research and data to deliver a comprehensive picture of the Medicare Advantage experience today – from beneficiary demographics and enrollment trends to supplemental benefit offerings and consumer savings, to health outcomes and bipartisan support in Washington.
Without data, your home care agency may fall behind. The healthcare and health insurance reimbursement landscape is changing rapidly. From the changes in Medicare Advantage plans in 2018 to the spotlight on home care provided by the pandemic and our rapidly aging population, healthcare providers’ and insurers’ interest in the potential benefits of home care has grown and will continue.
Hot off the presses, the Summer 2022 issue of HCAOA's magazine The Voice is now available online. This issue is driven by data, going in-depth about how data is critical in telling an agency’s “story” and offering an outline for agencies to determine what data to collect that applies to the agency, employees, and clients.
Featured in this issue:
Better Medicare Alliance (BMA) has released a new, searchable 2022 Medicare Advantage enrollment map, featuring MA enrollment data by state, Congressional district, and county. The map is populated with April 2022 state and county enrollment data from CMS. The map shows that MA is now the dominant form of Medicare in more than 120 Congressional districts nationwide.
Hundreds of home care providers across North America shared their data, strategies, and best practices in running a home care agency for the 2022 HCAOA Benchmarking Report.
In 2021, the industry median annual revenue for a home care agency was $1,664,856.
For HCAOA member agencies the median annual revenue was $2,146,881. That’s an increase of 29%.
If you’d like to see more HCAOA-member versus industry comparison data, download the 2022 HCAOA Benchmarking Report here at no cost.