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Success strategies for home care agencies and hospices   read only Success strategies for home care agencies and hospices read only Presentation Transcript

  • Success Strategies for Home Care Agencies and Hospices by: Bernie Lorenz, CPA Lorenz Consulting LLC.
  • GREAT Time To Be in Home Care
    • Despite Reimbursement Cuts
    • Budget and Deficit Problems
    • Best for Home Care
    • Congress and CMS Always Cutting
    • Cuts are Very Significant
    • Need to Work Smart and Review All Aspects
  • Re-Hospitalization Helps Sell Other Services
    • Prepare Charts
      • Showing Re-Hospitalizations in Your Area
  • Go to The Biggest Need:
    • Emphasize Chronically ILL Patients
    • Many Nurses want Short Term and Acute Patients
    • Chronically ILL Underserved
  • Go to The Biggest Need continued…
    • Teach Patients All Medications,
      • As an Example…
    • Studies - Johns Hopkins, CBO, Veterans Administration
    • Can Your Agency Show Better, Lower Costing Care Without ER visits?
  • Participate in IAH Act - Have you Looked?
  • Prioritize and Knowledge of Self
    • Accounts Receivable – Time Well Spent
    • Weekly Meetings Very Helpful
    • Billing Department Is Limited
  • Billing and Collections
    • Billing Department Should Have Regular Meetings
    • Billing Department Receives Info Timely?
    • Review Each Process and Paper Flow- Efficiency and Effectiveness.
  • Billing and Collections continued…
    • Information System Have Appropriate Edits?
    • Who Can Override Edits?
    • Who Authorizes Write-Offs and How Given to Management?
  • Overall Case Mix
    • How do you Compare With Your Competitors?
    • Nurses Doing Assessments or Interviews?
    • Therapists Talk to Nurses About Best Outcomes?
  • Other Emphasis Items
    • Episodes per Admission - Each Caregiver
    • Training for Episodes and Therapy
    • In Groups or One on One
  • Other Emphasis Items continued…
    • LUPAs - Therapy and Non-Therapy
    • Accurate Assessments - Without Issues
    • High Quality Essential for Success
  • Review ALL Costs
    • Negotiate and Ask for Discounts, Just like Government
    • Insurance - Broker, Competitive Proposals, Workers Comp Costs
    • Rent- Lease, Floor Plan, Location, Etc.
    • Bank Relationship - Fees, Interest Rates, Services, etc.
    • Print Your Checks and Banks Automate Reconciliations
  • Technology Costs
    • Telephone, Internet, Software Support
    • Detailed Analysis of Contracts and Bills
  • Supplies
  • Benchmarking
    • Many Sources
  • Productivity Measurement
    • … is Essential
    • Many HHAs Pay per Visit and Incentive Plans Used
  • Data Indicators
    • By
      • Discipline
      • Team
      • Clinician
      • Location
      • Referral Source
    • Trends Up or Down?
  • Budget
    • Full Top Management Participation From the Beginning
    • Very Detailed and Closely Monitored
  • Referral Sources
    • Electronically Linked
      • Saves Time and Money
    • Promotes Patient Care
  • Investments
    • Many People Got Out of the Stock Market
    • Be the Black Jack Dealer Without Emotion
    • Players Filled With Emotion
    • Limit Losses and Expand Profits
  • Investments continued…
    • Always use Stop Loss and Keep Raising it
    • Make Much More Money in Down Market
    • Biggest Enemies – Emotions, Expenses, Arrogance
    • Mutual Funds and Bonds - Safe or Risky?
    • ETFs for Most Mutual Funds
    • Please contact me for questions or comments.
    • Thank you
    • Bernard R. Lorenz, CPA Lorenz Consulting, LLC Phone: 410 456 9099 [email_address] www.lorenzconsultingllc.com