Top Risks and Trends in Home Healthcare

Top Risks and Trends in Home Healthcare
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Home Care Trends

Before 2020, there was a shift towards providing more cost-effective care in the home. The COVID-19 pandemic pushed the healthcare industry to adapt in many ways, and home care services took a direct hit. Now, two years into the pandemic and looking forward, we expect home care services to play a significant role in expanding delivery models like hospital-at-home and SNF-at-home. Advancements in technology, like remote patient monitoring and virtual check-ins, allow for patients with a higher acuity to be cared for at home. While these trends are all important, fundamental principles like quality outcomes and patient safety remain a priority. Below are some home care trends from CareCentrix

CONSUMERS:

  • 72% of all respondents prefer to recover at home versus a medical facility following a major medical event.

PAYORS:

  • 97% of payor respondents agree the trend toward moving healthcare to the home is in the best interest of insurers and members alike.
  • 95% agree treating members at home is often more cost-effective in the long term than treating in a facility.

Acute Care Delivery At Home

Hospital Care at Home, also known as Acute Care Delivery at Home, is not the same as Home Health Services.

Acute Care at Home is not for everyone. Some healthcare organizations have taken the lead on this new model of care delivery with the goal of reducing in-hospital care, reducing costs while experiencing better outcomes for patients who meet the criteria for this kind of patient center care.

Risk Management – Top Risks in Home Care

To identify and address the top risks in home care, teams should:

  • Conduct an enterprise wide risk assessment
  • Identify and analyze risks and threats
  • Prioritize and develop a risk mitigation action plan
  • Evaluate and monitor your Home Care Services Risk Management Plan

The most common risks include:

  • Staffing- Recruitment and Retention
  • Employee and Workplace Safety
  • Reimbursement/ Payment and Financial Health of the Organization
  • Patient Selection and Care Coordination
  • Cyber Security Risks
  • Regulations and Regulatory Compliance

Additional Resources

For more information, please view the following websites:


Questions?

We are here to assist you with all of your insurance and risk management needs. If you have any questions, please contact a member of the RCM&D Healthcare Practice today.

This blog is part of RCM&D's "Healthcare Risk Round Up" series. For access to more timely content like this, complete the form below to subscribe to the quarterly newsletter.