The Future of Home Health
Twice this week while interviewing potential sales candidates I was asked, "Michael, what do you think the future of home healthcare will look like?". What I explained to them is that the entire industry is consolidating. CMS has openly said they feel there is a surplus of providers and the continued reimbursement cutbacks and recently proposed changes to PPS methodology are going to further, and accelerate that trend.
I went on to explain that the agencies that will thrive and survive are those that are positioning themselves to no longer talk about the next patient referral, but the next 100 patient referrals. That is, agencies that speak the language of ACOs and Bundled Payment Providers. As we've clearly seen in the retail world, in the end we'll be left with Lowes, Home Depot, and in a smaller number of markets, Ace Hardware....and that's about it.
So...which side of home healthcare history do you want to be on?
Read this article from Home Health Care News about Bundled Payments 2.0 to get a sense of where the industry is going....and at what pace.
When you need strategy or training to transform your sales force, email me to discuss.
Thanks...and good selling.