Page 7 - Senior Options Year in Review 2018

213,516
HOME CARE HOURS
stew•ard•ship – noun
the job of supervising or taking care of something, such as an organization or property.
“responsible stewardship of our agency”
Stewardship
While the Senior Options finance team interacts with each site daily for billing
and operational dealings, many of our partners may not realize what goes on behind the scenes in other areas of finance. During 2018, we’ve been busy working
with each partner to develop an insurance matrix, allowing the site to prioritize the managed care contracts they needed.
In addition, we’ve migrated more staff resources to expedite credentialing and contracting and to hopefully pass on
3,825
TOTAL EPISODES
79,971
HOSPICE PATIENT DAYS
27,950
SUBMITTED CLAIMS
10.8%
WEIGHTED AVERAGE OPERATING MARGIN
with initiatives in the areas of accounts receivable, cost per visit, reimbursement per episode, insurance, budgets and building up our staff. In fact, we just added our fifth biller.
as many tips as we can about intake contact numbers and pre-authorization requirements so that natural insurance pitfalls are avoided or at least minimized across the network. And, we worked with several of our more mature network partners to analyze cost per visit in a closer way so that there is a better understanding of the impacts of taking lower-paying per-visit insurance cases.
A new feature introduced in 2018 was benchmarking. A Senior Options dashboard is published each month to allow our partners to see how their sites compare with industry targets and other Senior Options partners. The idea for this benchmarking initiative came from David Trost, CEO of St. John’s Lutheran Ministries.
Insurance is a growing component of the home health volume mix across our entire network. In 2018, Senior Options worked
Senior Options offers annual budgeting support to its partners. In 2018, 86% of our network partners used us to model their 2019 Agency Budget. Using the budget modeling, we can prevent disconnects between volume, revenue, and staffing as the year progresses.