Adding a new care management role to an existing eldercare or home care practice
Why should you add a GCM component to your home care agency or non-profit? First, a care management practice can be an important differentiator for agencies that offer home care. An assessment and care plan can be a valuable way for families to understand care needs and recommendations and to consider options for providing this care. This care planning process can be vital to families particularly in the early stages of caregiving, as most families do not understand the needs of the older adults, the options for meeting these need, nor the costs associated with these options. Providing a care plan and opportunity for discussion and "buy-in" among family members can therefore be an important step in initiating, modifying or continuing home care services. Among the other reasons to add GCM to your homecare mix is financial. You may be able to capture billable hours in homecare that were previously unbilled by your SW and RN staff who are doing many of the GCM tasks for free in your existing home care business.
In evaluating the potential addition of services, benefits and costs, you and your organization will likely face a series of questions, including:
- Do the market demographics support care management services?
- If so, what pricing structure would clients bear for these services?
- What competition exists for these markets (direct competitors or substitute services) and how would your organization need to position care management services accordingly?
- How could the your organization care management group operate at a profit?
- How would this group benefit the other divisions within your organization, and what opportunities for cross-referrals could exist?
- What would be the critical success factors for this group?
We can deliver a comprehensive market analysis to answer the questions posed above. Deliverables can include the following modules:
- Market study to determine potential available market size
- Define ideal client (age and income range) and compile demographics within service area
- Identify types of organizations that would refer new business to your organization care management services and conduct market sizing within your organization's service area
- Distinguish opportunity for care management services to existing your organization clients in addition to net new clients to the organization
- Gather internal views of care management opportunity as seen by existing your organization staff
- Profile of successful care management practices within non-profit setting
- Analyze 3-4 prominent non-profit organizations where care management services have been introduced profitably.
- Identify critical success factors, including start up costs, pricing structure, marketing and internal cross-referral model, profile of care managers, and profitability model.
- Survey competition and determine marketing opportunity
- Identify direct competitors (care managers), services offered and pricing structure
- Identify substitute providers (i.e., agencies or private providers offering assessments, medical advocacy, residential care guidance, etc), services offered and pricing structure
- Recommend marketing/positioning alternatives given this competitive landscape
- Critical success factors for your organization go to market
- Staffing and training
- Service pricing and marketing
- Public relations and referral generation
- Sales in non-profit organization
- Trade associations (local and national)
Contact us today to discuss your specific objectives and outcomes!
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