Total, staffing takes the cake, with dwelling care suppliers turning into the most important drawback this 12 months. However in 2024, altering fee dynamics have grow to be a formidable competitor to recruitment and retention considerations.

When dwelling care professionals had been tasked with offering the “greatest problem” they confronted within the new 12 months, 58% responded to staffing ranges. Subsequent, 31% stated altering fee dynamics, whereas 7% and 4% cited consolidation or non-payment laws, respectively.

These findings come from a current survey carried out by Residence Well being Care Information and Homecare Homebase. The survey included responses from greater than 150 professionals working in dwelling care.

It's no large shock that staffing continues to be a ache level for suppliers. Of the workforce points, recruitment and retention stays the most important impediment; 53% of respondents say this would be the greatest workforce-related problem anticipated in 2024. Wage stress adopted intently behind at 38%.

Nonetheless, there’s optimism amongst leaders in regards to the 12 months forward.

“We count on some acquainted challenges, however we’re additionally excited to see new options and approaches emerge,” Brandy Sparkman-Beierle, Chief Medical Officer at HCHB, stated within the research. “The rise in affected person acuity and workforce shortages have inspired a refined strategy to healthcare supply, with a larger emphasis on public well being analytics and insights.”

Most respondents within the survey (65%) are assured that their organizations will earn more money in 2024 than in 2023. Residence care was the highest space the place respondents noticed room for progress, with joint ventures and new partnerships as potential autos for that develop .

Suppliers stated they count on to concentrate on natural progress inside current areas, reasonably than inorganic progress. Behind joint ventures, 34% of respondents stated they count on important “natural same-store progress.”

The business's shift in the direction of worth can be having a serious impression on the best way suppliers do enterprise. A big majority (70%) of respondents reported that their organizations have applied modifications to their operational processes on account of value-based care.

That could possibly be a direct response to one of many greatest challenges above: altering fee dynamics. Worth- and risk-based care is a technique to rise above the speed cuts and poor reimbursement from Medicare Benefit plans.