What is happening in Home Care and Value Based Payment (HHVBP) is predicted to arrive on Hospices’ doorstep over the next few years. As we march through 2022, there are 15 Medicare Advantage Organizations comprising 115 insurance plans in 22 states participating in the CMS demonstration project. The final model is still undefined, and the question remains what the final VBID will look like and is your organization ready for change.
The challenge for hospices is how to prepare? Obviously, you don’t want to be way out ahead of the curve not knowing the final model. And at the same time, “Hope Is Not A Strategy” and responsible leaders need to prepare and anticipate change.
Today’s Strategy Planning (SP) process is not your father’s SP process! SP use to be a 3-to-5-year planning window. This is obsolete in today’s environment. Now, SP is all about creating annual rolling operating plans that are updated yearly and are truly helpful tools to assist hospice organizations navigate a complex environment and strengthen performance in the areas of quality, growth, and finance.
The referral inquiry to admission process for hospice organizations is the lifeblood of their ability to serve more people, grow, and give the gift of hospice! How organizations convert referrals to hospice care is essential to steady and reliable growth. Those organizations that have a clear mission, vision, and set of values that drive their philosophy around access are usually most successful. Unfortunately, most hospices do not have a written policy and procedure for access in place to drive solid structures and processes that lead to superior results. In other words, we leave hospice appropriate patients behind because they presented us with an obstacle.
At our last Hospice Advisors Boot Camp in Atlanta, Bill McArdle, the Owner and CEO of Trinity Home Care and Hospice out of Texas shared a strategy on how hospices can bring greater value to home care companies and increase hospice referrals along the way.
Some of the best lessons I have learned to serve more people, grow and strengthen financial performance have come from my mentors of the past.
A hospital is a “mini-city” and understanding all the subsegments that make up a hospital is critical to serving more people and growing. Each subsegment in the hospital has a unique value proposition. Clearly understanding each sub segments Value Proposition is a first-step to developing a marketing strategy.
2015 saw many hospice organizations experience stagnant, organic growth with ever-increasing competition and CMS regulatory pressures being sighted as the two external contributing factors. But for many organizations the lack of growth performance comes from internal controllable factors. So in order to not repeat the sins of 2015 in 2016, it is time to “look in the mirror” as you lead your organization into the New Year. Following are 3 key growth success factors and metrics that need to be assessed and corrective action taken if needed.
I was at the Michigan Chapter of the National Speakers Association meeting last week. The presenter was Colin Sprake who spoke about growing your business for professional speakers. There were several key points worth sharing.
As some of you may know, I do a great deal of work with not only businesses but also with families and individuals as they mature through life. I strive to help people better understand and address their own “Aging Manifesto,” on how to enjoy the process of advancing through the different stages of life, and dealing with both the pleasure and pain of life experiences related to aging. I see a strong parallel between businesses and personal maturation.
Consolidation in the Post-Acute Care market place has been occurring for years now. Health Systems have struggled to find the best strategy and approach to create a post-acute care continuum. So let’s be honest, is it working for you? Most health systems have tried to assemble the talent required to be successful with mixed results. Most systems are strong with home care leadership but lack in other areas such as hospice. Understanding the market is also a key factor that can make or break a strategy.