Woman in blue scrubs sitting at a desk working on a computer
If you’re not sure how to create solid goals for the new year or you don’t understand the best way to use the KPIs for home care agencies to set those goals, remember that Rosemark is your partner and would love to help you create a successful strategy.

As 2022 comes to a close, it’s the perfect time use end of year KPIs for home care agencies to reflect on the goals you made in January and to asses your data. Then you can create new strategies for 2023. By building on this year’s successes and reviewing any challenges your home care agency might have had over the past twelve months, you can concentrate on creating a solid plan for the upcoming year. 

This plan could include goals such as reworking your marketing plan to hone in on specific demos or segments, generating more leads from referral sources, focusing on caregiver recruitment and retention programs, and streamlining your processes to build an even more successful business.

But where should you begin? Let’s start by taking a look at some of the reports offered in the Rosemark System that can help you understand your business better, and then discuss setting expectations and creating plans for success.

Assess the Data

First and foremost, if you are a customer of Rosemark, you should be analyzing your data in the Report Hub to see what worked best this past year, what didn’t, and what worked somewhat but can be improved upon. Don’t waste your data! By focusing on the key performance indicators (KPIs) for your home care agency, you are taking the valuable information that your staff took the time to put into the Rosemark System and utilizing it to improve your business.

Let’s look at some of the reports within the Rosemark System that can help your agency pinpoint what worked really well in 2022 and where some changes can be made to better align your goals and strengthen your business.

Caregiver Turnover Report: 

This is the first report every home care agency should look at when assessing their past year’s performance. 

Break this report down by month and by quarter to determine if your agency performed better over any particular segment of time. If so, does that performance relate to any type of caregiver retention/support program you started? 

For example, did your office conduct a retention or support program where you provided gas cards to caregivers who had to drive outside of their preferred mileage range? Looking at the data from the time period during which you ran that program, did your caregiver retention improve?

If the gas card program (or some other incentive) helped your agency retain caregivers who had to work far away shifts, could you then start offering incentives for someone working two shifts in one day for the same client or similar shifts that are hard to fill? The Caregiver Turnover Report is the perfect tool to help you answer those questions.

Payor Source Report:

The main question any business needs to ask is, “Where is the money coming from?”

If you want to know if your agency’s revenue was generated from pirate pay, Medicaid, and Veterans Administration (VA) clients, this is the report you need.

The first step is to make sure payor sources are set up in the Rosemark System. When you set up each client, make sure you assign them to a category so that when you bill, that data will filter appropriately when you pull this report. If you don’t know how to do this, be sure to reach out to the Customer Care team to find out how.

Your agency can choose which types of categories to include in this report. For example, if your agency only does private pay, you can set up the Payor Source Report to look at areas within your territory (like specific zip codes or areas of town) where your agency gets better-paying clients. Understanding these KPIs for home care agencies will help with future marketing campaigns as well as determining which clients you want to take on in the future.

Inquiry Report:

Show how your marketing efforts are going for this year and how they should be directed for next year. Review your new client leads; did you receive as many as expected? For those that did not become active customers, why not? Was it about pricing, services needed, or other reasons? What changes could you make to your new client or onboarding process that may result in more active customers for 2023?

Authorized vs Provided Report:

There is no lack of clients these days, so make sure you’re providing care for the best clients for your agency. This will ensure you’re making good use of your time and resources and will help with caregiver retention as well. 

What makes a good client for your agency? Let’s look at the Authorized vs. Provided Report to get some insight.

In this report, you can look month-by-month to see if there are any time periods where you provided under-authorized hours for your clients. If you’re underbilling because you cannot provide the full number of hours that are available, that could be a huge challenge. This is a great opportunity to find out why you’re not providing the full number of hours available.

Agencies want to be able to provide the maximum amount of care possible so they can generate as much revenue as possible from Medicaid and the Veteran’s Administration. If you haven’t set up authorized hours, that is a good strategy for 2023. Start putting authorized hours into the Rosemark System now, so you can look at those reports and make more informed decisions about which caregivers are going where, which clients you want to keep on your roster, and which clients should find alternate care because you can’t provide the full scope of care hours for them.

Sometimes people are authorized to receive care but providing that care can be challenging. If they cancel shifts often, are not home when caregivers arrive, or are combative to caregivers, those might be examples of clients you don’t want to continue to provide service for because you know you won’t receive the maximum number of hours available, and thus, won’t generate as much revenue as you could from a client that participates more fully in the process.

This is an extremely important KPI for your home care agency as you’re moving into 2023 planning.

Set Proper Expectations

Now it’s time to ask some very important questions: What goals and strategies did you set this year and based on these reports, did you achieve those goals? If not, why? If so, did you just barely hit your target goals, or did you surpass your expectations?

How can your home care agency maximize this data to create improved outcomes for the next year?

When you move forward with a plan for 2023, make sure you set attainable expectations for your agency – staffing, growth, expansion, etc. It’s not a bad thing to dream big, but you need to set proper expectations for your agency so you are growing at a steady pace and not overextending your services, time, staff, and budget.

Plan for Success by Using KPIs for Home Care Agencies

A few things that set Rosemark apart from other caregiver management software companies are our industry-leading customer care and our strategic partnership mentality. If you’re not sure how to create solid goals for the new year or you don’t understand the best way to use your home care software data to set those goals, remember that we are your partner and would love to help you create a successful strategy. We’re more than just a vendor; we’re your supporter, cheerleader, and business partner. 

If your office needs help understanding the Report Hub or which KPIs for home care agencies are important for your specific business, give us a call or send us an email