With the many challenges they face, homecare agencies of all sizes — from the moms-and-pops to the large franchises — need to make innovation a priority. With over 426,820 homecare provider businesses in the US as of 2023, agency owners must modernize to stay competitive. That means taking advantage of one of the most abundant resources in the world today— data.
Data is transforming how businesses across all industries operate, and the homecare space is no different. Here we explore how homecare agencies can use data to make their operations more efficient and successful.
Providers often spend their time in the weeds, making sure critical business functions like scheduling, billing, payroll, and EVV are set up properly. But because they are so focused on the day to day, they often don’t have the time or energy to map out trends or examine the data to see if there are any red flags they’re missing. That’s why HHAeXchange supplies Business Intelligence reporting. This advanced analytics dashboard helps homecare providers quickly uncover real-time data insights that help them make smarter decisions that improve efficiency and grow their business.
The reporting feature highlights key performance indicators, provides advanced reports and widgets, and gives providers a 30,000-foot view of their business while allowing them to drill down and visualize data in key areas such as:
What if agencies could predict when one of their caregivers was on the brink of leaving due to burnout? This kind of predictive data would allow them to intervene before the caregiver reaches a breaking point. That is what our partner Perry is looking to do with Burnout Bot, a cutting-edge tool used by homecare agencies to identify burnout among caregivers. Harnessing the power of artificial intelligence (AI), it analyzes over 50 data points per caregiver per workday. This AI system allows Burnout Bot to pinpoint caregivers exhibiting signs of the condition. If staff members are aware that a caregiver is feeling overwhelmed, they might be able to better support that caregiver and ultimately retain a valued employee.
The success of homecare operations hinges on members being able to stay safely in their homes. This means keeping them out of the hospital where they may be exposed to illness, rack up costly bills, and experience more anxiety and depression. Now, thanks to the data provided by remote patient monitoring (RPM) devices, it’s more possible than ever to care for members safely at home.
RPM devices use connected electronic tools to record patients’ personal health and medical data. This physiological data, such as blood pressure or glucose levels, is recorded at the patient’s home and is reviewed by a provider at a different location. Using this data, the client’s clinical team can track trends and intervene quickly if they notice changes. Now, thanks to advances in artificial intelligence and machine learning, some devices can analyze client behavior or historical physiological data and send out an alert if there is a deviation. Early intervention can allow the person to get care that can prevent them from needing to go to the hospital.
Using data to optimize your business doesn’t have to be complicated. It can be as simple as making sure your caregivers aren’t wasting their precious time with long commutes, or getting matched with clients who will ultimately be the wrong fit for them. With our industry-leading Smart Map technology, our software uses available data to better match caregivers and patients by locating the closest caregiver, as well as provide advanced filtering based on language, discipline, patient requests, and more.
In their updated framework for health equity, CMS notes that capturing risk data, particularly on social determinants of health (SDOH), is one of their main priorities. And for good reason! This type of member data can have a massive impact on health outcomes. As the homecare industry increasingly adapts value-based care initiatives, having the ability to collect and act on SDOH data will not only improve member outcomes, but it will also allow homecare agencies to provide a higher quality of care.
Now, new tools allow caregivers to observe and easily report changes in a member’s condition or environment. With this information providers can act on these health and environmental issues before they become problems. They can also share this information with payers and increase referrals by demonstrating their commitment to value-based care metrics.
Data is everywhere, but if you aren’t using the right tools to harness it, you are missing out on all the ways it can elevate your homecare business. The future is here. Technology like artificial intelligence, prescriptive analytics, and machine learning are all readily available to anyone who is interested. The question is, are you taking advantage of them?
To learn more about how HHAeXchange can help you take advantage of your data, contact us today!
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