DALLAS, Jan. 13, 2020 /PRNewswire/ — A new industry trends report from Axxess, the leading home healthcare technology company, and BKD, a national CPA and advisory firm, confirms concern among the home-based care industry regarding implementation of the new Patient-Driven Groupings Model and other regulatory changes, as well as ongoing staffing challenges.
The potential impact of PDGM has created a significant amount of uncertainty among home health providers, who consider it their greatest challenge in 2020. Most providers reported that they are at least somewhat concerned about the impact of PDGM, though larger organizations indicated they feel more confident about their ability to manage the change effectively. Work force staffing challenges were the second most common industry challenge cited by home-based care providers.
“The report confirms that regulatory changes create uncertainty, which is why it is important for home-based care providers to partner with organizations that know how to help them thrive during times of transition,” said Axxess founder and CEO John Olajide. “The industry is focused on finding solutions that will help them navigate the impact of PDGM, and addressing staffing challenges. Axxess is committed to innovating to meet industry needs and has solutions that address these priorities.”
Added M. Aaron Little, Managing Director from BKD: “Change is easier when you rely on advice from experts who understand your concerns and provide a clear path to success. PDGM is a monumental change so it is no surprise it has caused so much unease. For businesses to grow in the new payment model, they must implement new operational processes that are based on expert-level insight.”
Respondents from providers of all sizes also expect that their organization will primarily rely on established business practices to help grow their business in the years ahead, though a significant number see their organization diversifying into other service lines. Responding organizations also indicated they consider technology’s primary benefit to be helping them remain compliant with regulations and streamlining documentation of care.
Axxess and BKD surveyed thousands of home health, hospice, and home care providers of all sizes over several weeks in late 2019. Results were gathered from organizations of all sizes and from individuals at every level, ranging from C-suite leaders to staff members who work directly with patients and clients. The 2020 Industry Trends Report is available for download and includes best practices from experts at Axxess and BKD.
Axxess is the leading home healthcare technology company, providing solutions that improve care for more than 2 million patients nationwide and are trusted by more than 7,000 organizations. Axxess offers a complete suite of easy-to-use, innovative software solutions, empowering home health, home care and hospice providers to grow their business while making lives better. The company’s collaborative culture focused on innovation and excellence is recognized nationally as a “Best Place to Work.”
About BKD CPAs & Advisors
BKD is a national CPA and advisory firm with a dedicated and highly-reputable health care practice that is committed to helping providers realize their financial, operational and revenue cycle goals. Our professionals offer solutions for home health, home care and hospice clients across the United States. BKD understands the regulatory and legislative changes in the home care and hospice arena and can help providers tackle and prepare for these issues. Visit www.bkd.com/homecare to learn more.
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