Market Research Letter: May/June 2008
Providing insights for home care and hospice
May/June 2008
In This Issue
Feature Article: Market Concentration as a Predictor of Growth
Metrics Matter: Recert Rates as an Indicator of Potential Benefit from Multi-Episode Patients
A Case Study: Identifying Hospital Discharges for Home Health Services
Is there opportunity for growth in your primary home health or hospice market? In this issue of Healthcare Market Resources’ newsletter, we take a look at why market concentration plays an important role in determining business growth potential. In addition to showing you how to evaluate your market’s structure and concentration, we also suggest ways to create growth in a concentrated market.
Our goal at Healthcare Market Resources is to help companies like yours expand their businesses. Please feel free to contact me at 215-657-7373 or info@healthmr.com for information about ways we can assist you in planning your business growth strategy.
Rich Chesney
President, Healthcare Market Resources, Inc.
Feature Article: Market Concentration as a Predictor of Growth
Is there opportunity for expansion in your current home health or hospice market? Is the potential for business growth better within your primary market or other nearby markets? Market concentration plays an important role in answering these questions and determining the best strategy for growing your agency. In this article, we provide steps on how to evaluate your market’s structure and concentration, as well as useful ways to create opportunity in a concentrated market.
Read more.
Metrics Matter: Recert Rates as an Indicator of Potential Benefit from Multi-Episode Patients
With the introduction of new Prospective Patient System (PPS) regulations, chronic or multi-episode patients have become a more profitable group for home health providers. Can your agency benefit financially from the multi-episode patient group? The answer to that question can be determined by looking at the recert rate in your service area. Learn how the recert rate can be used to indicate the potential benefit from multi-episode patients in the counties you serve. You can also see which quartile your state sits in the above graphic.
Read more.
A Case Study: Identifying Hospital Discharges for Home Health Services
Are patients currently discharged from hospitals to self-care in your service area that would benefit from home health care? One of our clients – a home health agency – used Healthcare Market Resource, Inc.’s Medicare Hospital Discharges to Home Care by DRG Reports to find hospitals within their health system that provided the greatest opportunity for decreasing hospital re-admissions by increasing home care referrals. In addition, they used the data to successfully focus their efforts to change discharge planning behavior in areas with the highest potential.
Read more.