You have heard it often: home care needs to improve its data. You may have wondered: Why do I need to collect data? And what kind of data? This is where Key Performance Indicators (KPIs) come into play.
Having a few KPIs helps you demonstrate the quality of the care provided by your agency. This is important for prospective clients. Being able to prove the value of home care services will set your agency apart.
Tracking KPIs can be a game changer. It provides insights about your operations: what’s working, what’s improving and what requires attention. KPIs help tell your story, bring credibility and hold you accountable. KPIs can also become a monster and take more energy than they provide insights. So, choose them wisely!
Which Key Performance Indicators Work For My Agency?
Consider your strategic goals for the agency. What do you want to achieve?
- Is it to cement home care as a partner in the value-based reimbursement world?
- Do you want your agency to stand out from the competition in a crowded field of providers?
- Do you want to increase your bottom line so you have more profit to be shared with caregivers and staff?
Depending on your main goal, you will want to track different KPIs.
A Blueprint For Home Care
During the recent Home Care Pulse Growth Summit, speakers suggested adapting CMS’s triple-aim concept to identify the right metrics for your agency:
- Outcome – How do we measure better care for individuals?
- Satisfaction – Clients, families, caregivers each hold a piece in the satisfaction puzzle.
- Cost of Care – Can you demonstrate the lower cost of home care versus hospitalization, SNF, etc.?
Other KPIs often measured are:
- Hospitalization readmission
- ER visits
- Falls
These metrics help move the conversation for home care from a post-acute care provider to a pre-acute care provider. KPIs change the conversation from cost of service to what it takes to keep your loved one safe at home.
KPIs can also include metrics on period evaluations (e.g. after 60 and 90 days) to assess progress with ADLs and IADLs, need for personal care, and mobility.
Start small and focus on 3 to 5 metrics. Train your team on how to collect the data. Consider ways to automate the data collection. Make sure you actually review the data weekly and monthly.
“One way to start collecting the data is to set up a cadence (e.g., every other Monday) where various staff members report about how their respective functions did for the prior period,” recommends Jason Yu of Levo. “This serves a dual purpose of keeping your internal team aligned on company objectives and it’s easier to market your agency’s performance to clients and referral sources alike.”
Jason also shares a piece of advice. “As with everything else in this industry, implementing the right software or systems is only half the battle. Much of the success depends on the support from your staff. Make sure that everyone understands why something is being done as well as what needs to be done. Make it easy so that data collection doesn’t become a job itself!”
