Employers and HR managers have repeatedly expressed their dismay about missing out because their Work Opportunity Tax Credit applications weren’t handled professionally.
Home Health Care agencies are all looking for ways to increase their revenues. The Work Opportunity Tax Credit (WOTC) is the most overlooked mechanism for an improved bottom line in the industry. The Work Opportunity Tax Credit is a federal credit that allows companies to claim $2,400 to $9,600 for each eligible new hire. Completing a simple form for each new hire could earn your company hundreds-thousands of dollars in federal tax credits.
A debate has been brewing over the past few years surrounding the Center for Medicare and Medicaid Services (CMS) mandatory and voluntary bundled payment programs. The eventual goal is to shift healthcare providers from fee-for-service payment models to those that are value-based, the most popular being mandatory and voluntary bundled payments. Click to read it all!
Tracey Moorhead, President & CEO of Elevating Home, joined me for a conversation about Elevating Home, the new national advocacy organization for Home & Community Based Services. This is a very informative discussion about how Elevating Home was formed, WHY it was formed, and what they are going to do in order achieve their mission of making Patient-Centered Care in the Home a fundamental pillar of our national healthcare structure.
We do learn more about Tracey, and how she got to where she is today, and what the plans are for this group now and in the future.
It is an ambitious and great thing Tracey and her group aim to do.
Elevating Home - http://www.elevatinghome.org
Curaport – http://www.curaport.com
VNAA – www.vnaa.org
CMS has made it clear that the current reimbursement models for healthcare delivery is not sustainable and is in the midst of significant change. What this means for the Post-Acute Care industry is still somewhat murky, but make no mistake – new Alternative Payment Models are coming and will impact your organization. Home Care providers can play an increasingly pivotal role in post-acute care delivery, however the key to playing this pivotal role is ensuring the entire organization has a clear understanding of what an Alternative Payment Model (APM) is and the risks associated with implementing these models.
Mark Sharp and Raymond Belles of BKD conducted this educational presentation that will enhance your organization's ability to take a proactive approach to the inevitable reality of new reimbursement models. Highlights of this session:
Case Studies in Optimal Revenue Management Cycle Redesign is an empirical look at the results of redesigning your revenue cycle processes. In today's volatile market, making sure you are manging your internal processes with proficiency will increase your profits and peace of mind. Elements that will be covered in depth in this session:
Nick Seabrook and Craig Mandeville are bright and credible minds in the financial space of Healthcare. This is a great opportunity to learn from the best!
Michael Markowitz of TC Services USA joins the podcast in a truly educational episode. He discusses how his company helps agencies take full advantage of the Work Opportunity Tax Credit (referred to commonly as WOTC). This incentive pays an employer $2400 per new employee hired - as long as the new employee meets certain criteria. Within the post-acute healthcare industry, Michael figures less than 10% of employers are taking advantage of this credit. We try to figure out why more companies are not doing this, and he has some good insights as to why. He also lays out the internal machinations of how the red tape works, and how his company helps take the scissors to that.
This is a very straightforward topic and something can impact you and your organization today.
Michael's company website: http://www.tcservicesusa.com/
Michael's software website: http://www.wotcsoftware.com
Curaport's website: http://www.curaport.com