Unspent homecare package funds are continuing to rise. Recent reports indicate a total close to $10,000 of unspent funds per client. This represents $1.6 billion nationwide.
Instead of being used to enhance client care or expand homecare provider services, unspent homecare package funds are transferred back to the government.
Why is it important to unlock unspent homecare funds?
Unspent funds can result in undetected client deterioration and negative outcomes for clients and homecare providers.
Beyond limiting the quality of and number of services and care clients receive, unspent funds result in low profitability of homecare providers. This is because you are unable to accurately access and scale the homecare package and care hours in line with your clients’ changing needs.
Technology holds the solution.
Unspent homecare funds have more than doubled since 2017, experts claim that this growth will continue.
This evolving issue requires innovative solutions.
InteliCare is an Australian assistive technology company that has created a predictive analytics hardware and software system for use in the aged care and health industries. Using discreet sensors and trend data, InteliCare empowers homecare providers to proactively monitor client deterioration with current health and wellbeing data.
By identifying indicators of client deterioration which may otherwise go undetected, homecare providers are able to unlock unspent homecare package funds through increased services and hours. For example, clients have been able to avert hospitalisation through early detection of UTI from spikes in bathroom visit.
Justification to adapt services and hours are supported by real world evidence, which is audit ready and accessible on the InteliCare platform. As a homecare provider, you can also increase your revenue by gaining additional clients by promoting yourself as an industry leader and early adopter of innovative technology.
You can also earn margins for providing InteliCare services, without placing additional pressure on your workforce.
How can technology help my organisation unlock unspent funds?
To access unspent funds and leverage your depleted workforce, schedule a free phone or Teams appointment with an InteliCare consultant. Or submit your details in the form below.
To find out how InteliCare can benefit homecare providers click here or watch the video below.