[vc_row][vc_column][vc_column_text]The week’s news in healthcare, technology, housing and finance in the 50+ market and aging and elder-care. The growth of aging tech facilitated marketplaces and rising costs for caregivers are shifting the home healthcare and agency business.[/vc_column_text][vc_column_text]
Aging & Health
Cut Home Health Payments More than 1%
The 1% reduction — $180 million — in Medicare home health payments proposed by CMS for 2017 is not enough. “Medicare has overpaid for home health care since the inception of the PPS in 2000.” Letter from the Medicare Payment Advisory Commission.
Doctors Should Prescribe Time Outdoors
The loss of friends to walk with, and fear of falling, are barriers to Scots getting out and about. In a new report, the Scottish Government cited interventions, such as green prescribing. Prescribe trips to the Scottish countryside for pensioners, say experts.
House Calls Save $6,816
Northwell Health’s House Calls program saved $6,816 per patient in its 2nd year. The savings were in their demonstration program to deliver in-home healthcare to frail seniors. The team answers questions from patients and caregivers 24/7 too. Medical House Calls Program Improves Care, Lowers Costs of Treating Frail Elderly Patients at Home.
Nursing Homes are Not Bad
“PACE that can leave people just as vulnerable and lonely much of the time in their own homes. Use the bucket of federal and state money for placement in assisted living communities of all sizes. At least in both of those settings, there could/there would be someone to sit with at dinner.” Read the article & comments at PACE Accelerates into Dubious For-profit Nursing Home Avoidance (Aging In Place Technology Watch).
Higher Wages Change Market for Caregiving
30% to 40% decrease in revenue at a home care agency due to higher wages for caregivers. Driving costs up “to the point that many senior citizens just cannot afford to have a private caregiver at home anymore.” Does A Higher Minimum Wage Work In All Industries? One Entrepreneur Says No (Forbes).
Rage Against Caregiving
“There are days we hate our patients and hate ourselves for feeling this way.” In a story shared 6,400 times, read how one woman really feels at No One Gives a Rat’s Ass About Family Caregivers.
Pro caregivers renewed through mindfulness training
An adult day-care facility in San Carlos was struggling with lost funding and lower attendance. They trained staff on Mindfulness Based Dementia Care. The result: better attitudes, improved care, and a rising census. Read: Caregiver Blues? Be Here Now, from Matt Perry for the California Health Report.[/vc_column_text][vc_column_text]
Aging & Technology
The online, app-focused world of home care
Well-funded newcomers are playing a game. It’s called The Virtual Cycle. Also known as Winner Take All. The rules of marketplace growth have applications to everyone leading a healthcare network, care agency or senior living facility. Learn the rules of well-funded competitors who sniff around your customer in A Guide to Marketplaces.
But will home care be exempt?
ClearCare Online has $60 million in fresh powder to provide ERP software and services to independent care agencies. Honor and HomeTeam aren’t yet much of a competitive threat for the customers of well-entrenched agencies, ClearCare’s CEO, Geoff Nudd tells Tim Mullaney of Home Health Care News.
- 90% of referrals are local, existing providers have relationships
- local agencies provide high quality care, with some owners personally pitching in in the middle of the night
- There are diseconomies of scale to home care
Universal design for aging-in-place
A prefab house in the Pacific Northwest does not compromise on beauty. “When clients think of universal design they think of hospital rooms,” Don Argus, an architect at FabCab, says. “We want to demonstrate that universal design does not mean clinical.” A House Built For Aging In Place, in FastCo.
Tech systems for aging-in-place are poorly designed and do not work together
The internet of things (IoT) will grow into “the internet of aging well things,” says Ryan Frederick, founder and CEO at Smart Living 360. Today, the technology is here, but the U/X is unfriendly and the payment system is disjointed. How to Make Aging in Place Easier for Home Buyers (Builder).
Relationships between police and banks fight of elder fraud
The newly published A Resource Guide for Elder Financial Exploitation Prevention and Response Networks, put out by the Consumer Financial Protection Board, emphasizes the importance of local banks, credit unions and local law enforcement working together. CFPB Highlights Role of Banks in Helping Prevent Elder Fraud (American Bankers Association).[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][us_cta title=”Responsible for Revenue?” btn_link=”url:http%3A%2F%2Fgetgenerations.com%2F46-must-read-marketing-case-studies-senior-care-living%2F|title:46%20Must-Read%20Marketing%20Case%20Studies|target:%20_blank|” btn_label=”Read Next” btn_color=”white”]Read our hand-selected collection of 46 marketing case studies for senior care and senior living.[/us_cta][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]Photo Credits:
Scotland: By Diliff – Own work, CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=39838710
Wheelchair: Dale Lang, http://www.aia.org/practicing/awards/2016/hud-awards/port-townsend-residence/
Marketplaces: Slideshare deck from Version One VC http://versionone.vc/marketplace-deck/