Kenyon HomeCare ConsultingIs Your Home Care Agency Ready For 2015? - Kenyon HomeCare Consulting (206) 721-5091

Kenyon Connects

Is Your Home Care Agency Ready For 2015?

2015 New year countdown timerEvery business makes New Year’s resolutions, but strategic planning sets apart those who are successful from those who may have to shut their doors. Making a goal (or resolution) is only half the battle. In order to meet that resolution you must create a plan of action, which means doing some research, coming up with a strategy, and implementing it.

There are many changes coming for 2015, especially for the home care industry. If you have not made your New Year’s resolutions, now is a critical time to start. And you should plan how you will tackle these changes, because ignoring them could be detrimental to your business. Below you will find three issues that should be part of your New Year’s resolutions.

Strategic Planning – Where Do You Want to Be?

All too often home care agencies ignore strategic planning. They assume it’s for large corporations, but strategic planning is like a roadmap for your home care agency. It spells out your goals and creates an actionable plan so you know exactly how you will achieve them.

Are there new opportunities for 2015? Are there new service lines or new value-added products that you can add in 2015 to your business mix? How will you make your business stand out?

Now is the time to plan. Whatever you do, plan for one or two products or services at most. Make a plan, implement the plan, make revisions as needed, and evaluate your results.

Training – It’s Not Just a One-Time Thing

As you plan for new services or products, remember that you will need to also plan for additional training related to those services or products. So, how often are you training your employees? Are they up-to-date on the latest treatment methods, health issues, or regulations?

Training is not a one-time thing, nor should it even be an annual thing. Your staff should be trained the moment something changes in the industry (preferably long before that change goes into action) and retrained at least once a quarter to ensure everyone is on the same page.

The changes in health care dictate that agencies invest in not just the basics of infection control and universal precautions, but in chronic diseases and conditions that are proving costly to the payers—primarily Medicare and Medicaid. If an agency is to survive in the future, intense training in chronic diseases and conditions must become an ongoing investment for all field staff—especially the home care aides.

ICD-10 – It’s Here, But Are You Ready?

The ICD-10 conversion will be implemented in October 2015, but there are still numerous home care agencies struggling with the transition. ICD-10 will be replacing ICD-9, and there are over 141,000 diagnosis codes that your staff needs to know for the transition. Not having adequate training or software that is ICD-10 compatible means a delay in your claims processing, and that means less revenue and cash flow to keep your home care agency afloat.

The issue with the ICD-10 transition, as with any big change, is time and money. It does not just cost you to update your software; you must also train your staff, have continuing education for billing practices, change your billing system, and you may encounter increased documentation costs. This could cost your company thousands of dollars each month. The number of hours required to adequately train your staff could take its toll on your management as well.

Kenyon HomeCare Consulting Can Help

You have a lot on your plate—from strategic planning, training in chronic diseases and conditions to training for the ICD-10 conversion. Kenyon HomeCare Consulting can help you create New Year’s resolutions, as well as a plan of action so that you can actually achieve those goals next year. We will assess your agency, develop a strategic plan, and help your home care agency get on the right track for 2015 and years to come.

To learn more about how you can prepare for 2015, contact the home care consultants at Kenyon HomeCare Consulting today.

And don’t forget to subscribe to Kenyon Connects, our weekly newsletter that provides tips to accelerate the growth of your home care agency.

Category: Holidays, News

Leave a Reply

Your email address will not be published. Required fields are marked *