Posted on Wednesday, October 19, 2016 8:50 PM
The home health industry has developed more involvement in accountable care organizations (ACOs), due to the implementation of the Affordable Care Act in 2010. However, challenges remain a constant to be a part of these provider groups, and agencies must continue to develop strategies that will add that competitive edge.
Home health agencies need to know how to sell themselves and make themselves known in the industry as valuable partners within ACOs, Scott Vasey, senior vice president of strategy at the Visiting Nurse Service of New York (VNSNY), explained at the Home-Based Care: Financial Leadership Forum in Chicago last week.
With CMS’ constant push to move Medicare over to ACOs and other alternative payment models, home health agencies need to adapt and fight for a place at the table.
The following tips were recommended to home health agencies:
• Build partnerships
• Lead with data
If agencies can shift their attention to be more community-based, it could potentially develop those relationships down the road.
“This is what we’re focusing on right now,” Vasey said. “We are partnering with hospitals in the community and talking to them so they understand the cost savings that can be made from home care.”
“Emphasize a better patient experience to be cared for in the home rather than in a facility,” Vasey said.
“The approach to value-based care should be strategic and also reactive. Agencies should be experimenting in various arrangements.”
Corridor’s Chief Executive Officer, Des Varady, attended the Home-Based Care: Financial Leadership Forum last week. If you were unable to spend time with Des Varady at this Forum, contact Corridor to learn best practices for Coding, Revenue Cycle Management, Advisory & Compliance, and Operations & Education.
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