ABCS RCM is focused on delivering quality healthcare billing services to a variety of different customers. Whether it is assistance with aged accounts, optimizing a medical practice’s accounts receivable or stabilizing cash flow.
However, all of the company’s customers are impacted by a major demographic shift that is currently transforming the United States. The country is rapidly aging. This fact is not a surprise for many people. However, the sheer magnitude of the numbers will place new demands on providers of Home care and home healthcare.
According to Forbes Magazine, “the massive baby boomer demographic has been impacting industries like housing, travel, pets and healthcare for years, yet one of the biggest boomer-related market expansions is yet to come: senior care.” This transition will create new opportunities and alter existing health care patterns.
For example, “because of the burgeoning number of aging people who will need care, better technology must be a part of the overall solution set. A visit by a nurse can cost around $100 and a lower level caregiver can run $22 to $25 per hour. But technology will replace some of the functions of a professional much more cost-effectively.” These cost pressures will force the industry to look for new solutions due to the competition between cost, quality and access.
The article illustrates this point by stating that “facility-based care costing around $5,000 per month, and in-home service at $1,500 to $2,000 per month for 5 to 8 hours of daily care, there will be strong market pressure to reduce end-user costs through technology.”
Advanced Billing and Consulting Services realizes that this change is only starting. We are proud to advise our clients and assist them in achieving their goals. Additional changes are coming to the American healthcare industry and ABCS RCM is here to meet these changes. We help our customers successfully navigate this complex environment and let them focus on what they do best – help their patients.
This sentiment is concluded with the fact that “there are 10,000 people turning 65 every day in the US. Clearly, this is a tide that will raise every boat in these waters. How can your company contribute to and prosper in this market?”
Here is a link to the full article: The Aging Of America Will Create A $279B Opportunity By 2020
For questions and answers about medical billing and other related topics – contact us.
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Home care billing, Home healthcare billing, Aged accounts