Posted Monday, May 9, 2022
When you are declining more new business than you can accept, your business cycle has reached a point that is not sustainable over the long term. A recent analysis of industry data found that providers are turning away 58% of referrals. The reason? Staffing shortages.
In the midst of this staffing crisis, not all providers are having the same degree of difficulty finding and retaining talent. Some are using creative approaches to recruitment by partnering with nursing schools and looking to other service industries such as hotel and retail to attract new people into the home health and hospice sector.
Beyond attracting new employees to service the growing number of client referrals, savvy providers are leveraging technology that simplifies and streamlines workflows to reduce the burden on existing workers.
While staffing recruitment and retention has been an ongoing dilemma for the home health and hospice industry, COVID accelerated both the retirement of older staff and the reluctance of people to enter the industry. Even as COVID is receding into the rearview mirror, the endemic staffing problem within the industry is not.
As the world emerges from the pandemic, the clientele list is growing due to an aging population and the popularity of home care while the worker shortage across all industries has reduced the total pool of potential workers. Home health and hospice agencies can take a proactive approach to this challenge.
- Make sure you have a plan in place for when the patient census starts to rebound to take advantage of growth opportunities for your business
- Apply the lessons learned from COVID – that it’s good to have options that can flex with you and make you more agile
- Consider the advantages of leveraging technology to improve efficiency and maximize the staff that you have
With the implementation of stricter industry regulations and new CMS payment policies, now is not the time to cut corners or just cross your fingers and hope things improve. Now is the time to assess your strengths and reinforce your weak areas to be able to survive in this next leg of the home health and hospice business cycle. To tap into Corridor’s deep expertise regarding staffing and revenue cycle business solutions, call 866-263-3795 or contact us today.
About Corridor
For over 30 years, Corridor has partnered with home-based care providers, delivering powerful solutions to support the unique challenges of caring for patients in the home. Our team of operating executives, clinicians, and nationally renowned industry experts have run provider organizations and resolved the same challenges you face.
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