As we approach another new year, have you assessed how your home care agency performed throughout 2017? If you've noticed issues in caregiver shortages or turnover, or in home care patient acquisition and retention, now is the time to revisit your plan as your agency heads into 2018.
No matter what challenges you have experienced, it all reflects on the care of your patients. To help your agency profitably and efficiently delivery superior patient home care, follow these five steps as you head into 2018:
1. Assess Your Current Situation - Identify Bottlenecks
Do an audit of your current situation and performance in 2017. I a great online article written by Dan Hathaway, he summarizes this assesment this way:
"Start with PESTLE
Your business doesn’t operate in isolation. In this analysis, write down on a sheet of paper 6 headings: Political, Economic, Social, Technical, Legal and Environmental.
Under each category, list all the factors that affect – or have the potential to affect – your business. For instance, a "political" factor with implications for your business may be a new funding policy related to your clients. An example of a "technical" factor would be the emergence of a new technology that reduces your operating costs.
To use this tool to help develop your business strategy, your starting point should be selecting and prioritizing a handful of factors according to their current or future impact on your business, along with your ability to respond to them."
For your agency, this could be recognizing challenges to managing referrals & caregivers, coordinating cilent care, retaining your patients, maintaining EVV compliance, and keeping families informed.
For example, Savii Connect point-of-care app developed for home care aides, utlizes mobile-first technolgy and helps agencies attract caregivers who are tired of picking up and dropping off paper time sheets. And, as part of one integrated system alongside Savii Care and Savii Family, your organization will be better equipped to manage referrals & caregivers, coordinate cilent care, keep patient happy, maintain EVV compliance, and keep families informed.
2. Set Goals
What are your agency's goals in 2018? You'll want to better manage and increase client referrals, and efficiently and profitably deliver superior patient care to ensure client retention. Do you have goals for branching out from private pay to Medicaid waiver, VA, or insurance. Does your technology support your goals and processes like supporting multiple payors? What are your revenue goals, client acquisition goals, talent retention goals, patient retention goals, etc?
While you might think you can do things the old fashioned way using paper, or using legacy software, you will want to consider adopting modern technology as long as the software provides easy-to-learn and easy-to-use tools. You may find more time to focus on bringing in patients and delivering great care. We have seen home care agencies that switch to Savii Care's mobile-first platform are spending 75% less time on scheduling, billing, and payroll tasks, which is directly contributing to the top and bottom line.
3. Develop & Execute Your Growth Plan
With both the focus and goals set, develop an action plan and assign tasks, including:
- Develop home care marketing plan to acquire new patients most efficiently
- Develop a process and system for managing referrals through a CRM
- Improve your caregiver recruiting, retention, and reward system.
- Drive efficiencies through scheduling and care coordination. Savii's Easy-to-Use Integrated Platform can help your organization streamline that process and maintain EVV compliance. Ensure caregivers, clients, and family to collectively see schedules and care plans brings more transparency to your business and keeps everyone informed.
- Supporting multiple types of payors to increase revenue streams, and ensure your technology supports third party billing to help with private pay, VA, Medicaid waivers, and long-term care insurance.
4. Measure Success Regularly
Measuring KPI's on a regular basis is extremely important to understand if your agency is on/off track. The best platforms give you analytics that are easy to use and read so you measure progress.
At Savii, we give you the ability to measure your KPI's, including accessing reports. Some key things you'll want monitor as part of your metrics:
- Inquiry to admission ratio, which measures your overall sales performance
- Client turnover, retention, and satisfaction
- Billable hours, billing reports, etc
5. Adjust and Improve
As 2018 progresses, do regularly check-ins on performance vs your quarterly and annual goals. Refine and adjust your strategy to respond to the market, new regulations, and changing market conditions. Ensure performance metrics for each pillar of your business communicated on a daily and weekly basis to your team, to ensure everyone is aligned and using the same scorecard.
Our main goal in 2018 - Help your agency profitably and efficiently deliver superior patient care, while improving the lives of your caregivers, staff, patients, and their families.
Contact us at Savii to learn more about how we can grow your home care agency into 2018 and beyond.