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.
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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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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.
Release of HCAOA’s Magazine 'The Voice' – Get the Latest on the Importance of Data-Driven Success!6/29/2022 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:
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.
A report from the inspector general’s office of the Department of Health and Human Services uncovered delayed access or denials to seniors who should qualify for Medicare Advantage. According to the office, annual audits have found “widespread and persistent problems related to inappropriate denials of services and payment.”
Prior authorization cases that were turned down were often because of lack of documentation or not following protocol to be approved (such as getting an X-ray before an MRI). Human error played a part in denied payment issues for a simple processing error. The office made recommendations to CMS, which oversees Medicare Advantage, to issue new guidance for the insurers and take additional steps to review system errors. Read the article. University of Michigan Poll Shows Most Older Adults Want to Remain at Home, But Are They Prepared?4/27/2022 Earlier this year, the University of Michigan National Poll on Healthy Aging asked adults 50–80 about their perspectives on aging in place, their homes, and available social supports. The majority of adults 50–80 (88%) said it is important to remain in their homes for as long as possible. However, many are not prepared to age in place. While about four in five older adults think their homes either definitely or probably have the features for them to be able to age in place, many reported their homes did not have common accessibility features, and nearly half reported they had given very little, if any, consideration to what home modifications would be needed. Read the full report here. Todd Austin, president of Home Care Pulse, reviews industry trends and insights gathered from hundreds of agencies across the US in the 2022 HCP Benchmarking Report. Here’s a sneak peek of revenue breakdown by years in business: The report contains 175+ data points and benchmarks like the one above to use as a roadmap and resource for your home care agency. According to the report, in 2021, a home care business that has been in business for 5-6 years averaged $1.5M in revenue. Use this chart to see how your home care agency compares.
To purchase a copy of the full Report, use the code preorder2022 at www.homecarepulse.com/benchmarking. HCAOA members are invited to an exclusive webinar with Home Care Pulse on May 12 webinar for an overview of the report and detailed data on how the past year affected agencies, plus what you need to know to operate better in the next year. Learn more and register here.
Austin will review:
Register now for the free webinar. |
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