It’s been a turbulent 2022 for home care agency owners, as changes to CMS (Centers for Medicare and Medicaid Services) have shifted the way home care will look moving forward. An initially proposed 4.2 percent cut to 2023 payments would have been one of the steepest Medicare cuts in years, but the CMS final rule for 2023 released on Oct 31, 2022, includes an estimated increase to 2023 home health payments of 0.7%, or $125 million, compared with 2022.
This means agency owners will need to evolve to keep up with changes. Owners will need to find strategies that can help to keep costs down, without sacrificing the quality of care.
Here are 3 things that may help home care owners to improve their agency in 2023
Adopting Emerging Technology for Patient Management
By adopting emerging technologies, agency owners can certainly help to improve the quality of care in 2023. As emerging technologies & tools have entered the home healthcare matrix, agencies that fail to keep up with the times tend to fall behind, and not utilizing the tools available can bog down business. 2023 is a perfect time to evolve your processes, systems, and communication tools to better serve your caregivers and patients.
Improve Patient Experience with Updated Tools & Tech
Patient-friendly experiences featuring communication tools, exercises, and education can empower and motivate patients, and help your business run more smoothly. With the help of data on the back end of your business to help with workflows and communication with clients, new tools and tech can also help your caregivers educate your patients and provide more seamless communication and care.
Train to Retain
As we’ve talked about here on the blog, there is a desperate need for quality caregivers across the country for home health care. In order to get 2023 off to a great start, incorporating new strategies for recruiting and retention, as well as your onboarding and training programs can really help to grow your team, and your business. The key to any quality home care agency is compassionate and committed caregivers, and with new technology and creativity, set new goals to make your agency the most desired place to work in your region!
These are just a few things agency owners can do to improve their bottom line in 2023. 2023 will certainly be a challenge as the reality of a caregiver shortage, and cuts to Medicare will force agency owners to adapt and evolve. If you have questions about what you could be doing better to help your agency grow, please get in touch! We have affiliates here in New York and New Jersey, as well as new affiliates in North Carolina, and we are in the business of helping agencies grow! Stay tuned on Linkedin for more industry news!