As home care providers, many of us have built our businesses on private pay clients. But relying solely on this revenue stream can leave your agency vulnerable to economic shifts and limit your potential for long-term growth. If you want to build a more resilient, scalable, and profitable business, it’s time to explore the power of payer source diversification.

Why Payer Source Diversification Matters Medicaid client receiving caregiver services from a home care agency with diversified payer sources

Imagine a stock portfolio made up of a single stock. Risky, right? The same logic applies to your revenue model. When you diversify your payer sources—adding long-term care insurance, veterans benefits, Medicaid waiver programs, and partnerships with third-party administrators—you reduce your risk and open new doors for referral opportunities.

Having multiple payer sources:

  • Smooths cash flow over time
  • Increases client affordability and retention
  • Positions you for growth in changing markets

Overview of Other Payer Sources to Consider

There are more options than many providers realize. Here’s a quick breakdown of payer streams worth tapping into:

  • Long-Term Care Insurance (LTCi): Many families don’t even realize they have this benefit. Helping them activate these policies builds trust and locks in long-term clients.
  • VA Benefits (Aid and Attendance & Homemaker Program): Serving veterans is not only honorable—it’s good business. VA programs are often underutilized and underpromoted.
  • State-Funded Programs (e.g., Medicaid Waivers): These programs vary by state but can bring a consistent stream of referrals if you become credentialed.
  • Third-Party Administrators (TPAs): Companies that administer care for insurers, disability companies, or employer groups often need trusted home care partners.
  • Workers’ Compensation and MCOs: If your agency can handle more complex cases, these payer sources can offer high-value referrals.

Partnering for Success

You don’t have to navigate these opportunities alone. Strategic partnerships can position your agency for success:

  • Partner with financial advisors or elder law attorneys to identify LTCi clients.
  • Encourage Healthcare providers to identify patients with LTCi and refer to you at admissions.
  • Build bridges with VA social workers or Veteran Service Officers (VSOs).
  • Collaborate with discharge planners who need Medicaid-approved home care options.

These alliances can drive steady business—and position your agency as a trusted, knowledgeable provider.

Market Your Expertise in Payment Options

This is your differentiator. Families are overwhelmed and often unsure of what help they can afford. When your agency confidently navigates complex payer options, it becomes the go-to expert.

Train your team to speak confidently about eligibility and benefits.
Create marketing materials or tools that make it easy for referrers and families to understand their options.
Host workshops or webinars that demonstrate your depth of knowledge.

In a crowded market, educating the community can be your most powerful marketing tool.

Thanks to our partners at 52 Weeks Marketing for contributing this insightful blog. 

For more information on how Rosemark can help you with juggle multiple payer sources, reach out to a team member today.

Debbie Miller

Debbie Miller is a powerhouse in the home care industry, owning one of the largest home care agencies in Tennessee and serving as the CEO and founder of 52 Weeks Marketing. With a background in big pharma, she transitioned into home care and never looked back—building a thriving agency and developing a proven, turn-key system to help other home care owners skyrocket their referrals. Her dynamic, no-nonsense approach to home care marketing and business growth has helped countless agency owners turn their home care businesses into referral-generating machines!
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