Three Things I Learned at This Year’s Home Care 100 Leadership Conference
I recently attended my first conference with DailyPay — the Home Care 100 Leadership Conference in Miami, Florida. In addition to the beautiful venue and fun recreational activities, the conference was packed full of informative sessions. Here are the three key takeaways I brought back to my much chillier New York office:
- Patient-Driven Groupings Model (PDGM) — This is one of the most significant challenges to the home care industry because it requires sweeping changes to the way home health agencies deliver patient care and to documentation, payment and compliance. While most agencies are concerned with the impact that PDGM will have on their organizations, larger agencies appear to be more confident in their ability to manage the changes brought about by this new law. Technology will play a key role in helping providers maintain compliance with PGDM by helping to streamline the documentation of patient care. The bottom line? The shift from 60-day periods to 30-day periods necessitates that quality of care is improved in order to achieve better results long-term.
- Culture — One session I attended was titled, “The Culture of Flow: How Good Values Beget Good Business.” One of the key messages I took away from this is that a well-balanced team is built on recognizing each employee’s strengths and utilizing those strengths to achieve the best business results. In this way, companies are able to develop a high-growth mindset and the means to focus on creating a workplace culture based on strong values.
- Talent — Finding and retaining talent in what continues to be a tight labor market is also a significant challenge for many home care agencies. The projected growth rate for caregivers is expected to hit nearly 40% over the next decade as the baby boomer population begins to enter their 80s in 2026. Those entering the workforce are more concerned with social and environmental issues than previous generations, so they will be looking for established corporate social responsibility initiatives. There is also a need to meet candidates where they are — on social media channels. And many companies today are using recruitment videos — both to showcase their companies and to screen potential candidates. This is meeting candidates where they are, and where they spend a large part of their time.
All in all, this conference provided a great opportunity for me to learn about the challenges facing the home care industry and to share with potential partners how DailyPay is helping many in this industry with their recruitment and retention issues. I’m looking forward to seeing what the next year brings.