The Home Health Care Wire
Your source for CareVoyant and industry news.April 18, 2024
Consumer Directed Services (CDS): A Primer
Between 2019 and 2023, use of Consumer Directed Services (CDS) increased 23%, with a total of over 1.5 million people signed on for these services. While the Covid-19 pandemic did spur much of this growth, CDS had already been a growing part of the home care sector and continues to grow today. There are, however, some burgeoning challenges that are arising with the expansion of this sector.
Searching for the right software can be difficult. The home care market was valued at approximately $250 billion in 2023 and is expected to grow over $100 billion more by 2028. In an industry that has drawn so much attention, with an abundance of software touting solutions for home health agencies, it can be difficult to sort through the noise to find the right software solution for your agency.
For long-term success in the home care industry, it is important not just to look for the Best Home Care Software, but also the one that aims to serve as a partner with you to help you grow.
While demand for Home Care Services continues to grow, increased regulatory requirements and a labor force shortage will pose many challenges to the cash flow and bottom line of Home Health Care Agencies. Authorization, Plan of Care, and Physician Order Management will lead to potential unbilled and denied claims. Home Care Agencies are forced to do more with less just to keep from falling behind in cash flow and the bottom line.
Home Health Care Agencies should stay ahead of these challenges with the right processes and tools to survive, thrive, and grow. Discover how minimizing unbilled claims can significantly enhance cash flow for your home care agency. Implement effective strategies today.
Home Healthcare Industry News
Growing share of American women in favor of improving home care resources
NCOA and the Women’s Institute for a Secure Retirement sampled 1,022 women over the age of 25 to produce its second annual report titled, “What Women Say.” The majority of these respondents expressed total support for improvements to Medicare and Medicaid programs that help older adults age in place.
To Stand Pat Or Not: When Home Health Providers Should Expand Service Offerings
When it comes to expanding their business portfolios, home health leaders can continue to do what they know best, or they can decide to branch out. Leaders at companies like Choice Health at Home and The LTM Group have created a framework for determining when to diversify their business portfolios versus when to focus on developing their core care services.
UnitedHealth Group Remains Under Duress From Change Healthcare Cyberattack, DOJ Investigation
It was a turbulent start to the year for the health care giant UnitedHealth Group, driven by the cyberattack on Change Healthcare and a U.S. Department of Justice (DOJ) antitrust investigation.
ABOUT CAREVOYANT
CareVoyant is a leading provider of cloud-based integrated enterprise-scale home health care software that can support all home-based services under ONE Software, ONE Patient, and ONE Employee, making it a Single System of Record. We support all home based services, including Home Care, Private Duty Nursing, Private Duty Non-Medical, Home and Community Based Services (HCBS), Home Health, Pediatric Home Care, and Outpatient Therapy at Home.
CareVoyant functions – Intake, Authorization Management, Scheduling, Clinical with Mobile options, eMAR/eTAR, Electronic Visit Verification (EVV), Billing/AR, Secure Messaging, Notification, Reporting, and Dashboards – streamline workflow, meet regulatory requirements, improve quality of care, optimize reimbursement, improve operational efficiency and agency bottom line.
For more information, please visit CareVoyant.com or call us at 1-888-463-6797.