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Expanding from Private Pay to Home Health Care

An article from Home Health Care News, entitled, "Home Health Companions Among Fastest-Growing Private Companies" shares the story of a home care/home health care company featured in Inc. magazine’s annual list of the 5,000 fastest-growing privately held companies in the U.S.

The Home Healthcare News article notes the following details about the company:

Founded in 2011, the company employed 24 people five years ago; it currently employs 80. In 2018, Home Health Companions brought in about $3.1 million in revenue.

Company leadership attributes some of its success to its private-pay model, which it sees as more stable than Medicare or Medicaid.

“The benefit for us is that we work directly with our client,” Lisa Shardon, president of Home Health Companions, told Home Health Care News. “We have to adhere to the standards of licensing in Texas, but our model is that we get paid by our clients, so it’s based on client need.”

I suggest that you read the entire article here , to read the full story and as well as Home Health Care News' takeaways.

What are your thoughts on the article or of Inc. magazine's list? Do any news "pop out" for you? Are there some companies not on the list you'd expect to be there? What are others ways private pay companies can expand their offerings. Please share or comment below!

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