Among the many hats that I wear at Ankota, one of them is marketing. I've heard the description that marketing is sometimes described as mixing Kool-Aid and hoping people with drink it. Similarly, the expression "drinking the Kool-Aid" refers to holding an unquestioned belief or philosophy without critical examination.
With that in mind, I've noted that around 1 in 5 home health agencies that I speak to really resonate with what we're doing to assist the home health industry dominate the care transitions market, but the other 80% don't.
I welcome differing points of view and new ideas, but I do feel passionate about the ability of transitional care to both offer a high level of care and to lower healthcare costs.
Allow me me make my case (and try to back it up with the critical examination)...
Ankota's Kool-Aid for Care Transitions:
- 30-Day Readmissions are Costing our Health Care System $26 B a year. You can confirm this here or in many other places.
- Home Health Agencies are Under Pressure with Reduced Reimbursement and Attempts to Reduce the Number of Agencies in the Market: Read this article or this one.
- 5% of Patients Consume Half of the Health Care Dollars: You can look that one up here or here
- 50% of the Cost of Health Care is $1.4 Trillion: per CMS
- When Care Transitions Are Managed, the admission rates can be greatly reduced. See this article or many of the posts in the Ankota blog that share care transition success stories.
- The Office of the Inspector General (OIG) has issued a ruling that enables third party contractors like home health agencies to manage care transitions, but it's a little bitcomplicated: More info here
- Other Industries are Focusing on This Opportunity: Read here to see what pharmacists are doing or here to look at what hospitals are doing.
Based on the above, we at Ankota believe that home health agencies would be highly motivated to enter the care transitions space so that they can help with the $26B 30-day readmission problem and position themselves to grab a share of the $1.4 Trillion consumed by the most costly 5% of patients.
If this has convinced you that we're not just drinking the Kool-aid, click below and let us help!
Ankota provides software to improve the delivery of care outside the hospital, focusing on efficiency and care coordination. Ankota's primary focus is on Care Transitions for Reeadmisison avoidance and on management of Private Duty non-medical home care. To learn more, please visit www.ankota.com or contact Ankota.