Hospice and Hospital Market Research Provider Dispels Myths Regarding Post Acute Care
Dresher, PA – In the “Post-Obama Care” realm, post-acute providers feel pressured to integrate services and optimize partnerships and alliances. Today’s home health
agencies, jockeying for position in order to become a preferred proivder for their services, often feel like second class citizens to in-house or captive agencies.
Healthcare Market Resources, (HMR) a leading provider of custom market data for hospices and home health agencies, dispels the myths associated with hospital-based home health referrals with its new metrics.
“There’s a commonly held belief in the home health industry, particularly among freestanding organizations, that hospital-based and hospital-affiliated home health agencies(HHA’s) monopolize all the in-house referrals,” Richard Chesney, HMR CEO said.
Healthcare Market Resources set out to examine that myth with a new analysis by linking Medicare hospital inpatient claims to home health admissions or readmissions within a four day window.
Based on an analysis of 2009 Medicare claims data, HMR was able to determine the specific home health agencies that patients went to from each hospital. “The research goes beyond the boundaries of previous analysis which was limited to examining competition within a geographical area,” explained Chesney. “Our analysis gives insight into the referral patterns established by specific hospitals bringing market share analysis down to the micro level.” More than 67% of the hospitals did not have a dominant provider.
Whether you operate in the state of Alaska with over 86% of high market share hospitals that year or in Louisiana with just over 6% of hospitals considered to have a dominant agency in 2009, the research details how hospitals behave in a particular market.
Healthcare Market Resources offers a glance at the state data used for its analysis with a comprehensive chart here. The data is an effective tool for home health agencies to discover referral opportunities to support their goals with strategies for growth in market share. Healthcare Market Resources’ new market research is inclusive of any hospital and can be leveraged by any home health agency.
A review of the data in a particular market can reveal that while some of the states in the highest quartile have CON restrictions on access, that regulatory-limited provider base did not automatically lead to a high percentage of “single-agency dominated” institutions.
“Our data analysis can take into account that a hospital may attract patients beyond the service area of the captive agency or even go as far as to make note that in many metropolitan areas, patients can easily cross state lines to get care, while agencies cannot,” Chesney explained. The research identifies the hospitals that have a dominant agency, with more than 70% market share, but this HHA may not be a captive organization
“By effectively connecting our research with a custom report on your market, Home health agencies looking to expand their market share can now take their sales strategies to a micro level.” Chesney said.
A sampling of the detail inherent in the state-specific report can be found here. Additional descriptions of specific reports can be obtained by calling 215-657-7373.
“The consistent takeaway from all of our data, regardless of the state you operate in, is that home health agencies that look at their market share based on assumptions or myths will be off the mark when it comes to meeting their quotas.” Chesney stated.
Healthcare Market Resources, Inc., a leading provider of reliable data enables home health agencies and hospices to make market decisions based on data and not perceptions. Its customized local market reports give healthcare executives a competitive edge for business development and strategic planning initiatives. www.healthmr.com.