Home health agencies work in several different areas. Some work as certified nursing assistants (CNA), some work as personal care directors (PCD), and some work as home health aides (HHA). Each of these fields has its own makeup and responsibilities.
Many jobs for HHI’s are entry level jobs, making $20,000-$25,000 per year. More experienced employees can make a higher salary, running around $30,000-$40,000 per year.
This is not the case for PCDs, who typically make more money due to their experience and knowledge.
Contents:
Calculating patient load
When a home health agency has a large patient load, it can be difficult to determine how much they charge for each patient. This is due to how much each patient costs.
When there are multiple patients in one visit, the home health care provider may charge more per patient than if they were working with different patients at different times. For example, when one client needs help with their grocery shopping and housekeeping needs, the home health care provider should charge less than if they needed help with their medicine shopping or medical appointments.
The medical professional should also be reasonable in charges, considering what they are getting and what it will do for them. Some professionals even ask for a price break when too much patients at once is making it difficult to understand charges.
When looking up rates with your agency, make sure to include the number of patients in your review.
Understanding the home healthcare business model
While the home healthcare industry is a multidisciplinary field, most people focus on only one area of expertise. For example, a registered nurse who also runs a therapeutic adult education program can run as either a home health agency or an educational program.
Like any business, there are different parts to the field. These include:
The nurses work as licensed professionals and are paid on a sliding scale based on how much work they give. They take credit and debit cards payment methods, with no minimum charge required.
The private tutors and adults EDs or physicians look at the patient’s own symptoms and decide what condition needs to be treated. This can include deciding if the person needs surgery or not, depending on availability of personnel.
The medical doctors work as practicing medical professionals and are paid on a hourly basis for work done. They take cash payment methods only.
Key factors affecting revenue
There are several factors that affect revenue of the home health companies you visit. Some of these factors are: location, quality of service, patient mix, price mix, and overall customer satisfaction.
Location is one of the biggest factors in revenue. Most home health agencies have a centralized location where patients come to receive care. This typically is a nice, comfortable room with privacy since most people are attracted to the agency’s logo on the door.
Patients usually pay for their care in private rooms with no outside distractions. This is not saying that people do not have things to say, but it is extremely hard to maintain privacy in such a manner.
Quality of service is another factor that affects revenue. Does the agency provide good assistance? Are they helpful when I call with questions? Does he or she give clear instructions without overdoing it? These kinds of questions can make or break how much money an agency makes per patient.
Understanding the home healthcare business model
In the traditional home care model, a nurse or professional cares for a patient in their home or at their client’s residence. This person charges a fee for this service.
As the patient gets more advanced, they travel to the home health agency to have another review by the nurse or professional. This happens until they are in good health and can go to the doctor or hospital.
At this point, the doctor re-evaluates them and decides if they need special care. The home health agency contacts them to see if they are still willing to provide this care. If not, it goes away and no one pays it!
The difference between this model and someone providing only medical care is that medical professionals charge for their services in addition to providing comfort and comfort. This helps build trust between the professional and patient.
Key factors affecting patient load
There are many factors that affect the amount of home health patients a home health agency can take. These include: number of patients a client wants to see per visit, how many patients the client is willing to care for, and how much each patient costs.
Some examples of this include: Some doctors want you to see them twice a week, while others only want you to see them once a week? That’s why they charge you twice as much for the second visit!
When deciding whether or not to expand your home health business, it is important to take into account these factors. If your agency does not seem like it is growing, it may be time to expand.
If you have more questions about this matter, feel free to contact an agent.
Maximizing patient load for the agency
When an agency is looking to expand its patient load, it’s important to look at the cost of patients in your area. This can be difficult when there is such a wide variety of services, locations, and prices.
It is hard to determine whether the increased patient load is worth the cost because of the increased cost. There are many ways to save when looking for a home health care agency, so looking into additional services may not be necessary.
Some services are more cost efficient than others and may be better left to companies that provide more comprehensive care. For instance, if your loved one has trouble standing or getting up on their own, a home health care provider may help with that but not transportation or jury duty aids.
Asking around with friends and neighbors is also a great way to see what agencies are taking on new patients and how they treat their clients.
Maximizing revenue for the agency
There are several ways to maximize revenue for an agency working with home health services.
Minimizing expenses for the agency
While home health agencies can charge as much as they want, there are some important costs they must account for. These costs can be tough to see at first, but it will be worth it in the end!
Every agency has a rate they charge for services. This rate can vary by service, but most cost between $75 and $150 per visit. A visit can last up to an hour and a half so that makes a big difference!
During each visit, the therapist or provider will take some notes and possibly do some tests. During this time, the patient may ask questions, perhaps of their own doctor or provider, but the therapist or provider must respond to these questions and answers before anything can be tested.
The test results may or may not be conclusive, but it is nice for the patient to have them get back so that another doctor can look at them.