New York -- May 23, 2024
Value-based care is a model for delivering care to patients that focuses on patient outcomes. Home care agencies are looking to devote their resources to improve patient outcomes and controlling costs. Through the value based model the reimbursements do not come from the volume of services only, but rather from the overall quality of care provided. Home care agencies, through the value based care model, are prioritizing the whole experience for patients, rather than just meeting quantitative goals.
So what does this mean? Here are some key aspects of value-based care that are relevant for home care agencies:
Home care agencies are incentivized to provide more resources for improving the overall outcome for patients. How can the patient function independently? What are the chances for hospital readmission and can that chance be reduced? How can caregivers manage chronic conditions better? How home care agencies are reimbursed relies on their ability to deliver on these outcomes.
Next, home care agencies must look to care coordination in order to receive reimbursements through the value based care model. The agency, caregivers, and patients must work together with hospitals, physicians, and other healthcare providers to maintain seamless and cohesive care plans. Through a home care management system like Carecenta, all information on care plans can be stored and accessed by all caregivers. As everyone is on the same page, then the quality of care will be high and agencies can receive the proper compensation.
Preventative care is an increasingly important part of value based care. Through home care, patients can manage chronic diseases properly and consistently, and prevent their ailments from getting worse or symptoms going unchecked. Through this model, home care agencies can reduce hospitalizations and can show to payers that their patients are receiving a better quality of life. Through effective care management, the patient is receiving a holistic plan that results in better overall outcomes.
Home care management software can be an asset for value based care for several reasons. For one thing, part of the patient experience is readily available caregivers who can be quickly updated on care plans. Through Carecenta’s availability feature, coordinators can see which caregivers are available that can provide the appropriate care for patients. Care plans, documents, and other medical information can be uploaded. Carecenta is compatible with all payers and insurance companies for easy reporting and billing. And finally, through a detailed and thorough management system, home care agencies can take the time put into practice that serves the patient best, rather than worrying about workflow issues.
To succeed in value-based care models, home care agencies may need to adapt their care delivery processes, invest in technology and develop strong partnerships with other healthcare stakeholders. While the transition can be challenging, agencies that can demonstrate their ability to deliver high-quality, cost-effective care may benefit from increased reimbursement and a competitive advantage in the market.