With 2017 solidly behind us, now can be a good time to take a step back to review how your home care business performed over the course of the past year. February is a great time to do this since the busy holiday time is well past and corrections and adjustments to your business performance data have probably settled down. Looking at the the numbers can teach you a lot about what’s working and what’s not so you can make solid decisions for the year that has just begun.
Rosemark System Tools for Business Analysis
Our Rosemark System provides a number of useful tools for reviewing and analyzing the data so you can spot trends, manage processes, and generally track the health of your business. These tools include an agency dashboard which gives a quick view of some of the key numbers, a wide range of formatted reports, and the ability to export detailed activity into the CSV format. This last option is extremely powerful, as it allows you to view and analyze the data in Excel or other spreadsheet programs.
To make the process of reviewing key performance indicators, or KPI, for home health agencies even easier, every year at this time we also create a special snapshot file for our Rosemark System customers with information that is compiled directly from their business data. For our customers, this file can be found in your Rosemark Document Storage and is named HCPBenchmarks-2018.csv. The information on this file serves a number of purposes:
- Our customers may see areas where they are not capturing important data. For example, if there is no information available regarding agency referrals, that customer may want to think about starting to track their referral activity within the Rosemark System to better understand this piece of their business and what changes or improvements may be needed.
- The numbers should paint a picture of how a specific home care agency performed last year.
- All of the components of this file directly correspond to questions asked in the survey for the Home Care Pulse Benchmarking Study, making it a great help to home care agencies that plan to participate. Even if customers do not want to participate in the survey, this snapshot of their business activity can be a very useful tool for gaining insights into their businesses. We encourage our customers to open it, have a look, and let us know if they have any questions.
The 2018 Home Care Pulse Annual Benchmarking Study
A word about the Home Care Pulse Annual Benchmarking Study. This study illuminates the state of the home care industry like nothing else can. TO make this study as powerful as it is, they depend on home care agencies (like you!) to participate.
We have partnered with Home Care Pulse to make it easy for Rosemark System users to gather the information needed to fill out the survey and we strongly recommend that you do participate in the survey. It doesn’t take long to complete and what you learn in the process about your business process will be invaluable.
When it comes to KPI for home health agencies, Rosemark’s home care software helps you keep track of how you’re doing and makes managing things like EVV, care plans, payroll, and much more easier and stress free.