Let's talk SIA...
How many SIA dollars is your agency missing?
Hospice A and Hospice B are in the same city/state, utilizing the same payment models/rates, and both using an end-of-life decline indication tool(s). Both Hospice agencies have 500 patients and the same Low, Medium, and High end of life risk level volumes by patient population.
However, while Hospice A is capturing 19% of the available SIA units, Hospice B is capturing 67%. This is a difference of approximately $26,578/week, almost $1.4 Million/year, and coming out to a difference of almost $2,800/patient!
And yes, this is AFTER all the additional service/visit costs for Hospice B. In fact, Hospice B was able to increase their Revenue by $5,000/week within the first 60 days of the program by simply adjusting visit times and expectations alone and without adding additional staff.
So, what's the difference? Hospice B has realized that SIA capture is not just about identifying decline and end-of-life risks, but about the protocols and controls needed to react to those changes.
Our SIA strategy is custom built per Agency, based on specific criteria and calculations, that derive a plan of action for how to deliver best-in-class end-of-life services, while capturing the largely underutilized revenue increase that Medicare made available several years ago, but which continues to be left on the table!
By answering a 10 simple questions, we can tell you what your current SIA unit capture and potential revenue loss looks like, as well as formulate a strategy with the potential to increase your annual profits between 2% and 7% with a few simple changes around SIA management.