April 2015
 
Featured Benchmark                                            HH Skilled Nursing Direct Cost Per Visit

According to the Simione Financial Monitor data for December 31, 2014, the national benchmark for Home Health Skilled Nursing Direct Cost Per Visit is $87.  Direct cost per visit is calculated by taking the sum of salaries, benefits, workers compensation, contract costs and mileage costs for skilled nurses and dividing it by the number of billable visits.  If the cost per visit for your agency is higher than the benchmark, it is important to take a deeper dive into your productivity and payment model.  By better monitoring your productivity and choosing the right payment model, you can lower your cost per visit without sacrificing quality or reducing staff.  For more information about the Simione Financial Monitor, call 844.215.8826.

Join us for a complimentary webinar 
on Simione Financial Monitor
Thursday, April 16 @ 2-3 PM Eastern

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The Basics & Benefits of Benchmarking

If you don't measure it, you cannot manage it. This longstanding adage for sound business practice remains true with the increasingly complex operating environment required of home care and hospice. Rob Simione, CPA, Vice President, Simione Financial Monitor, works with hundreds of providers to help them improve their performance using benchmarks to evaluate their cost structure and operations. 

"Home health and hospice agencies are in a difficult place dealing with issues from regulatory changes that have increased cost and created cash flow concerns to Medicare rebasing that has reduced reimbursement. Agencies must know where they stand through the use of analytics and benchmarks," Simione says. His blueprint for financial accord starts with developing key revenue and cost indicator reports and comparing them to industry benchmarks.

Watch for an overview of benchmarking basics related to revenue and costs in the May edition of Simione Solutions newsletter.
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DON'T GET LEFT BEHIND:  Industry Changes Require Sales Action and Bring New Opportunities to Grow Home Care and Hospice  

Patients' health care needs are being impacted by a cascade of changes in policy and regulation, payment methodology and provider practices. While every home care and hospice agency is working to adopt better ways to operate among these many challenging factors, their sales and
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referral management teams have enormous opportunities to make home care and hospice a bright spot for patients, providers and payers alike. 

In fact, Kara Osborne, Director, Simione Healthcare Consultants, contends that sales teams will be key to help their organizations capitalize on the shift to community-based care. Sales teams will also need to embrace the growing focus on chronic disease management and an emphasis on care coordination and transitional care in the coming years to develop and excel in an era of more accountable care.

"Industry changes driven by the Accountable Care Act will place greater value on home care and hospice's role in population management," Osborne says, "while the IMPACT Act will bring post-acute definitions and standardized reporting of outcomes through the use of data."   Related industry factors include health systems scrambling to mitigate losses from re-admissions and value-based purchasing penalties, the development of the Patient-Centered Medical Homes, and programs for home-based primary care and promoting independence at home.
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Bill Simione III To Deliver April Keynote Address in Oregon 

William J. Simione III, Principal, Simione Healthcare Consultants, will serve as a keynote speaker for the Oregon Association for Home Care Annual Conference, "Navigating the Transformation of Care at Home," to be held April 23-24 at Eagle Crest Resort, Redmond.  Simione will discuss "Pathways for Success: Paving the Way with New Payment Models in Home Care and Hospice." He will be joined by Rob Simione, CPA, Vice President for Simione Financial Monitor, who will also address attendees with "Cost Containment Strategies for Home Health." The association represents more than 100 home care and hospice locations in Oregon.
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National Hospice Conference Features Simione's Finance and Sales Experts
 

Simione Healthcare Consultants will join hospice leaders from across the nation for the NHPCO's 30th Management and Leadership Conference, April 28-May 2, at Gaylord National Resort and Convention Center, National Harbor, MD. This annual gathering of hospice and palliative care providers offers comprehensive education and resources to promote timely access to quality care for those with life-limiting illnesses and their families. Our presenters include:

 

April 29

Medicare Cost Report: Overview & Chart of Accounts

Medicare Cost Report: Completion and Using as a Management Tool

Presenter: Lisa Lapin, Principal, Simione Healthcare Consultants

 

May 1 
Hospice CAHPS & Customer Service: The Agrace Hospice Roadmap for Patient & Family Centered Care

Presenter: Katherine Northcutt, RN, Senior Manager, Simione Healthcare Consultants

 

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New Pricing, Improved Schedule for Simione Sales Training 

Simione Healthcare Consultants has enhanced its highly acclaimed sales training programs with lower pricing and one less hotel night -- with no need to travel on a Sunday! The training fee is now $1,495 per person (formerly $1,895), and the training schedule is Monday 2 -5:30 pm, Tuesday, 8:30 am-5:30 pm, and Wednesday, 8:30 am-2 pm.  Our Square One Boot Camp now includes separate, specialized tracks for home care and hospice, along with the Sales Management Workshop for those who lead sales teams.  Join us in April or May for this great value to improve your referral management efforts in 2015!

April 20-22, 2015
Springhill Suites, Las Vegas 
Convention Center, Las Vegas, NV
May 18-20, 2015
Courtyard by Marriott
Chapel Hill, NC


      
       SAVE THE DATE: Simione's 2nd Annual Sales Leadership Summit, Sept. 14-16 (Las Vegas)
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THOUGHT LEADERS IN HOME CARE AND HOSPICE

Founded in 1966, Simione™ Healthcare Consultants provides comprehensive business solutions for home health and hospice in the areas of finance, operations, cost reporting, compliance and risk,  sales and marketing, information technology, and mergers and acquisitions.  Simione's experts and tools support performance improvement across the healthcare continuum, engaging hospitals, health networks and agencies to improve quality, reduce costs, and minimize risk for more effective delivery of patient care.