success strategies for home care agencies and hospices read only

Success Strategies for Home Care Agencies and Hospices

by: Bernie Lorenz, CPA Lorenz Consulting LLC.

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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

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Re-Hospitalization Helps Sell Other Services Prepare Charts

Showing Re-Hospitalizations in Your Area

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Go to The Biggest Need:

Emphasize Chronically ILL Patients

Many Nurses want Short Term and Acute Patients

Chronically ILL Underserved

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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?

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Participate in IAH Act - Have you Looked?

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Prioritize and Knowledge of Self Accounts Receivable – Time Well Spent

Weekly Meetings Very Helpful

Billing Department Is Limited

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Billing and Collections

Billing Department Should Have Regular Meetings

Billing Department Receives Info Timely?

Review Each Process and Paper Flow- Efficiency and Effectiveness.

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Billing and Collections continued… Information System Have Appropriate Edits?

Who Can Override Edits?

Who Authorizes Write-Offs and How Given to Management?

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Overall Case Mix

How do you Compare With Your Competitors?

Nurses Doing Assessments or Interviews?

Therapists Talk to Nurses About Best Outcomes?

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Other Emphasis Items

Episodes per Admission - Each Caregiver

Training for Episodes and Therapy

In Groups or One on One

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Other Emphasis Items continued… LUPAs - Therapy and Non-Therapy

Accurate Assessments - Without Issues

High Quality Essential for Success

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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

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Technology Costs

Telephone, Internet, Software Support Detailed Analysis of Contracts and Bills

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Supplies

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Benchmarking

Many Sources

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Productivity Measurement

…is Essential

Many HHAs Pay per Visit and Incentive Plans Used

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Data Indicators

By Discipline Team Clinician Location Referral Source

Trends Up or Down?

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Budget

Full Top Management Participation From the Beginning

Very Detailed and Closely Monitored

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Referral Sources

Electronically Linked Saves Time and Money

Promotes Patient Care

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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

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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

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Please contact me for questions or comments.

Thank you

Bernard R. Lorenz, CPALorenz Consulting, LLCPhone: 410 456 9099bernielorenz@lorenzconsultingllc.comwww.lorenzconsultingllc.com

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