Brian Lagrange (4-2 MIlestone Draft Proposal)

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School

Southern New Hampshire University *

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HCM400-R16

Subject

Finance

Date

Feb 20, 2024

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docx

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5

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1 HCM: 400 Healthcare Finance 4-2 Milestone III: Draft Proposal: Capital Budget Item Selection and Opportunities Available for Proposal Southern New Hampshire University Brian Lagrange January 25, 2024 Professor: Derek Felder
2 Introduction: The Healthcare I have chosen for my Item Selection is Addus Home Care. This Particular Organization is dedicated to the care for in-home care for patients who are elderly, who are infirm adults, and patients who are seeking hospice care for a loved one and their families. They provide personal care and assist patients with their daily activities, so they can keep their independence, which also allows them to stay at their current residence with their current family. Some of the services that Addus Home Care provides to their patients are assistance with bathing, grooming services such as Hair Cuts, Light Housekeeping duties, Reminders on when to take their medications, help patients with getting dress throughout the day, and the preparation of meals when needed. Addus Home Care provides all the services that all in home care plus skill nurses can provide such as the ability to assist with Physical Therapy, Speech Therapy, Occupational Therapy, Counseling about Eating Healthy Foods, and the Necessary Steps in Proper Wound Care. Through the Services of Addus, they are also able to help families that need emotional and spiritual care as well for the patient as well as family members. Opportunities: The Healthcare industry is constantly facing challenges daily and because of this such things as new projects, certain procedures, and certain methods that would normally bring new
3 opportunities which would improve and advance certain businesses. The delivery of care is impacted by many different forces such as cost, changes of policy, and changes of regulations, different technology, and the demand for higher quality of care. Changes Such as Regulatory issues tend to expose organizations in which it impacts the organizations financial situation when trying to adjust to new policies and procedures. Utilizing the advancements in technology can help bring down some of the cost that comes with the new regulations by having the ability of gathering research that can assist in creating a plan to move with little to no impact. Therefore, having a system where data can be gathered in real time is of much benefit for the patients concerning their overall care. Having the necessary documentation about what daily activities or occurrences can be shared with anyone that is involved with the overall care of a patient is of high importance to make sure clients are always receiving the proper care. This will also aid in correcting errors while taking care of patients in a facility. To explain, it is simply that anyone that cares for a patient can continue the same treatment and can be informed of any necessary changes that would relate to the patients care. Addus Home Care also coordinates with the patients who are in the process of going through rehabilitation or if someone who is need of skill nursing services which will involve any submission of claims that need to be filed with the correct insurance companies. Which in return, it will give the patient a sense of relief knowing that there is a system in place in which can make the process more efficient and at the same time can make the process of claims a lot easier and the impact on the organization financially will have the ability to reduce administrative expenses. Proposal:
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4 Based on all the facts mentioned above, it would be beneficial to invest in Homecare software which in return would help with the communication of patients’ status more efficiently. For Addus Home Health Care I would consider recommending the “Axis Care” software as this system is programmed to help with all the necessary requirements of functioning a Home Health Care Facility. The “Axis Care” software has the capabilities of doing scheduling, billing, and appointment reminders, and can monitor the patient’s activity and can also remind them of medication reminders. The System is easily functional through an application that can be added to any smartphone. Since many of these services are provided by this kind of business setting are controlled by outside contract, it gives the Health Care Facility a system that make is more flexible to collect for the services that are rendered and makes the payroll processing a lot easier and less cost effective. It would also aid in the assistance in reducing administrative costs as most of the necessary information that needs to be process for the payroll can be imputed by any employee and will accumulate and be distributed by the current system in such a way that will make it easier for all employees. This would be the same process for the billing process where there will no longer be a necessity to keep all patients’ records nor add or search for information manually as all information will be included in the current software. This will allow the managerial staff to spend more time and be more productive at task and help to make their company successful going forward.
5 References: Addus Homecare, (2020). Company Information. About Addus. Retrieved on January 26, 2024 From: https://addus.com/why-addus/ SEC, (2020). 10K form. EDGAR Entity Landing Page. Retrieved on January 26, 2024 From: https://www.sec.gov/ix?doc=/Archives/edgar/data/148328/000156459021009604/adus- 10k_20201231.htm