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WORKING DRAFTLast Modified 11/22/2011 9:20:51 PM Pacific Standard TimePrinted
Tool
Tool This Presentation: www.clearcareonline.com/bootcamp-nj
• Originally a published Botany Research
Scientist
• Previously VP Marketing for a private-duty
national franchise brand with 200+ locations
• Managed a 700 client regional private-duty
agency in Pennsylvania w/ $20M revenue
• Launched 50 new offices with <10% failure
• Mission: Empower home care agencies to operate efficiently and grow, and to improve
healthcare and aging.
• Located in Silicon Valley, San Francisco
• 120+ employees, former agency owners and top tech talent
• $100k/week Product Engineering = the fastest product innovation
• Large and Local Brands Trust ClearCare (2,500 non-franchised brands use ClearCare)
• Book a demo with ClearCare at this conference
• We’ll send a $100 Amazon Gift card just for completing a demo
• 2015 was a challenging year for home care
• Regulations squeezed margins (ACA, Companion Exemption)
• More pressure ahead (minimum wage, state regs, OT for office staff)
• Value-based purchasing trend is heating up
Home Care
& Family
Caregiving
Home Health
& Hospice
House Calls
& TeleHealth
Long
Term Care Post AcutePrimary Care Acute Care
Specialist Care
& Ambulatory
“The
Border
Fence”
• Data Integration
• Care Coordination
• Network Management
• Reimbursement
9
Tool Home Care Association of America ‘The Value of Home Care’
www.hcaoa.org , released May 2016
• Expecting publication in July 2016
Tool www.clearcareonline.com/blog
“…this is probably the biggest thing to happen for the
private-duty, non-medical home care industry since
it’s incarnation…this gives us leverage.”
Steve ‘Hurricane’ Weiss via a Public Service Announcement, July 9th 2015
1995 1994 2006 2011 2013 2014 2015
“Client First” New “Tech First” Entrants
$20 million financing
April 2015
$23 million financing
June 2015
• Market share first, profit margins second
• Success in 1 geo-metro results in larger rounds of capital
• Put profit margin pressure on incumbent ‘client first’ agencies (you)
• Lock-up and command the supply of caregivers
You can punch back!
1. Innovate = Differentiate exercise
2. Are you offering the Veteran A&A pension benefit?
3. Are you earning tax credits for caregiver hires?
4. Marketing Monthly program
Let’s re-imagine the delivery of services
Medical/
Wellness
Food
Errands/Other Transport
1 2
3 4
During our discussion today . . .
VISION: open our eyes a bit
• To spark ideas
OBJECTIVES
• Simple differentiators to win new business.
• Improved client experience
ACCOMPLISHMENT
• Implement innovative tools
Primary Care Physician (PCP) Visits
• How do your caregivers deliver these today?
• What about psychiatrist / mental health?
Expand your scope of service…
(in 50 states)
Home and local services
Free to use
Find:
• Handymen
• Singing Lesson• Tai Chi Lessons
• Any project!
• Percentage of scores (competitor rates) falling at or below a specific score
• Specific score = your rate
• ‘Sweet spot’ = 20th - 40th percentile
0%50%
100%
• The higher your price, generally the higher your revenue
• But, once over the 80th % you could be ‘high’ priced
• If you’re between 20th – 40th %, you’re ‘right priced’
• If you’re in the 0% rank, you’re starving your business
CG
Rate
Office
Fee
Total Total
Cost
Change
Revenue
Change
GPM
Change
A 5% change in your total cost of care could mean a +10% change in
your revenue and a +18% change in your gross profit.
$10 $10 $20
$10 $11 $21
*Model assumes 33% GPM, no change in cost, all clients converted to new pricing.
5% 10% 18%
$10 $12 $22 10% 20% 33%
A
B
C
N/A N/A N/A
Current Rate Change A Change
Hourly Rate $20 $21 +5%
Expenses (66%) $13.20 $13.20 0%
Revenue per hour $6.80 $7.80 +15%
The ‘trick’ is your expenses stay constant post-rate change.
1. Run a thorough competitive analysis
2. You’ll be tempted to ‘grandfather’ clients with your old rates…only by exception
3. Communicate via in-person
4. Rate changes are very inelastic (clients will not run for the hills)
1. Less than 5% of clients attrite if the TCC change is <10%
Best Practices by ClearCare powered agencies
• Upon a rate change, justify the increase in rates by ‘turning on’
• The Family Room
• Enable e-payments
• CareGuard Active Monitoring
• FREE Home Safety Assessment
• We see some agencies charge a monthly ‘tech’ fee of $5-$25
• But you can ‘waive’ it upon a rate change
Three ResourcesTools
• www.veteranaid.org – forums, advocacy
• www.elderbenefitsconsulting.com – pre-qualify, file
• www.clearcareonline.com/veterans-webinar - 1 hour training
Aid & Attendance Pension Benefit Overview
• Veterans Administration - Aid & Attendance Pension to assist wartime
veterans and their surviving spouses who:
• Require the Aid & Attendance of another person to assist with
aspects of daily living.
• On average, the turnaround process is 9 months if filing through the VA
• This tax free benefit has been available since the early 1950s.
The Maximum Award for 2016
A Surviving Spouse can receive up to $1,149 per month
A Veteran can receive up to $1,788 per month
A Veteran with a Spouse can receive up to $2,120 per month
Well Veteran with an ill Spouse can receive up to $1,406 per month
Can be spent on Home Care, AL/IL, Home Health, other out of pocket
medical expenses
What can the benefit be spent on?
Cash…
Can spend the benefit on anything.
Can be spent on:
Home Care
Assisted Living / Independent Living, & Nursing Home
Home Health
Other Out of Pocket Medical Expenses
ClearCare, Inc. ® | 2014
What determines eligibility?
Veteran
Medical
Income
Asset
Meet Criteria? Yes, move to medical
Meet Criteria? Yes, move to Income
Meet Criteria? Yes, move to Asset
• VA states 12-18 months for award
• ERBC averages 4 months
What is income? The #1 Error when filing
Income MINUS
Regularly Occurring, Unreimbursed
Medical Expenses
as long as you meet the Criteria for Aid and
Attendance
Three ResourcesTools
• www.veteranaid.org – forums, advocacy
• www.elderbenefitsconsulting.com – pre-qualify, file
• www.clearcareonline.com/veterans-webinar - 1 hour training
• WOTC can reduce an employer’s effective tax rate via a tax credit
• There is no limit on the number of employees submitted
• Credit is based on how many hours worked and how much they are paid
•
•
•
• You have until June 29th, 2016 to file for caregivers
hired between Jan 1, 2015 and May 31st, 2016
• Likely the window will be extended
So, how many caregivers have you hired between Jan 1,
2015 and May 31st, 2016?
• Auto-check during the
electronic application
• Sort caregivers by WOTC
• Auto-submit to the state and
tracking of hours workedhttp://www.clearcareonline.com/tax-credits
The Family Room
Keep families and social workers in the loop. Pay bills online.
CareGuard Active Monitoring
Actively monitor caregiver backgrounds daily. Win more referrals.
• CMS finalized bundled payment model (The Comprehensive Care for Joint
Replacement ‘CJR’) April 1st
• CJR model is now in 67 geographic areas and most hospitals in those regions are
required to participate
• In 2014 more than 400k Medicare beneficiaries received a hip or knee replacement
The Home Safety Check Video – Now available
www.clearcareonline.com/video-marketing-tools
Enroll at the booth for FREE.
• Drop by the booth to enroll in the Marketing Monthly program (FREE)
• Book a demo today for a $100 Amazon Gift Card
• Download this presentation: www.clearcareonline.com/bootcamp-nj