Wound care patients represent a third of your census and are likely your most costly population. Wound care presents the greatest opportunity for financial improvement.
Even without the feared Medicare payment adjustment, many home health agencies feel next year will be a year of great financial strain – where operational efficiency and cost-effective care delivery will be paramount.
Raising inflation costs, persistent staffing challenges and the national rollout of Home Health Value-Based Purchasing (HHVBP) will place increased fiscal pressures on agencies. Agencies will be required, with greater scrutiny than ever, to simultaneously deliver higher quality care, reduce spending and improve clinician satisfaction.
So if you’re wondering where you’re going to focus. Which area of your business to invest in to yield the greatest ROI. Well, look no further.
Why Invest in Wound Care
If you’re looking to move the needle on quality, cost and experience, the most bang for your buck could very well be in your wound care program. This is for several reasons:
As 33% of your patients have a wound, there is a logical ROI to investing in a clinical program that will directly impact a third of your business.
Under PDGM, wounds are the clinical grouping with the highest base reimbursement, with the average wound care episode generating over $4,000 in revenue.
Wounds are the leading risk factor for home health hospitalizations – increasing the risk of readmission by 52%. As unintended hospital use is the most heavily weighted quality measure under HHVBP, wound care hospitalizations will have a meaningful impact on your Medicare adjustment.
The top 10% of home health agencies all have one thing in common: 100% of them have a wound certified specialist on staff.
The top 10% of agencies were determined based on care quality, patient experience and financial performance.
Our Customers have Proven the Wound Care ROI
Home health agencies that have invested in building comprehensive wound care programs, that leverage Swift Medical’s wound management solution, have realized meaningful financial benefits:
Reducing Costs while Improving Quality
It’s easy to imagine how increasing efficiency and cutting costs can have an adverse impact on quality.
However, with a comprehensive, digitally-enabled wound care program, home health agencies are realizing quality and cost benefits in tandem. In fact, by building a program on the foundation of objective wound data collection, visibility into healing and risk and clinician collaboration, formerly scarce and often inexperienced nursing resources can be deployed to their fullest potential – to the patients in the greatest need.
Wound patients are so often seen as high-risk referrals that can be a source of concern for agencies looking to control costs. But what many of the top agencies have seen is precisely the opposite. They’ve seen that with a strong wound care program and technology in place, wound care can be the most impactful clinical initiative to invest in — generating a substantial financial return (plus quality and satisfaction improvements to boot).
Request a call with a Swift team member to get a custom ROI estimate for your home health agency.