Home Health & Hospice Week

To achieve efficiencies and economies of scale required by the newly reduced PPS rates, home health agencies must expand — but not at any cost. Consider these pointers from Robert Simione of Simione Healthcare Consultants in Hamden, Ct., when pursuing growth:

•  Look at who produces a positive growth margin and contributes to your overhead, Simione advised in a National Association for Home Care & Hospice teleconference on the 2014 PPS Final Rule. That’s where you’ll want to grow your business.
• Likewise, determine which payers and patients you’re losing money on, so you don’t build growth strategies based on those pools.
• Keep in mind that you’ll need to spend more on technology and infrastructure to service growth.
• As you grow your agency, examine processes to become more efficient.