Combine and Conquer – A Case for Productive Partnerships

Win/Win Partnership Situations for Providers, Patients, Caregivers, and Home Care Technology 

Mergers, acquisitions, and partnerships continue to dominate the healthcare and home care headlines.  Every morning the Sinq team reads about numerous ventures occurring across the home care business continuum, and the overall, positive link is the effort to strengthen the presence of value-based care.  Lowering hospital readmission rates, reducing FWA, interoperability advancement, increasing collaborative measures across the entire care team, and creating strong home care agency advocacy act as beacons of light navigating future ideas.

This is an exciting time to experience the evolving landscape of dynamic partnerships within the home care industry.  The possibilities seem limitless when one envisions how technology, health care, home care providers, and caregivers can work together towards a common goal.  While most M&A and partnerships involve larger, well-funded companies, our Sinq business development team anticipates all-inclusive relationships that foster growth and empowerment—from large and small entities, to home care technology vendors, in-home caregivers, home care work force, direct care workers, home care agencies, payers, and creative ‘Uber’ type investors not afraid of breaking out of the box.  The home care worker shortage and retention rates may be improved if workers became partners and investors with agencies and home care technology companies.  The workers are already invaluable members of home care, and by bringing their experience to the table, only good can happen.   

The combine and conquer formula is also great for driving creative design.  If one large company has control of an industry, what is the likelihood that it will spend time and money changing its course?  For example, (one of many), Blockbuster passed up a deal with Netflix because the movie-store giant thought the deal was ludicrous.  Blockbuster’s hubris prevented it from seeking new ideas, creativity, and innovative approaches to business.  On the other side of the table, there have been partnerships and ventures that would never have happened without risk, ingenuity, technological expertise, forward-thinking pioneers, business acumen, and the thrill of a challenge.

The combine and conquer aphorism also reflects opportunities for improved data exchange and highly-functional interoperability.   In a recent article from Healthcare IT Analytics entitled, “Shrewd Health IT Purchasing Strategies Key to Seamless Data Exchange,” Jessica Kent discusses the National Academy of Medicine (NAM) recommendations involving making interoperability a top priority.  Quoting NAM, Kent writes, “Healthcare organizations must rethink how disparate health IT modules are connected, not just within one hospital, but also among every entity involved in a patient’s care, including physicians’ offices, home health agencies, other post-acute care facilities, and social services.”  The ‘rethinking’ can be, and should be, achieved through partnerships, collaborative efforts, sharing of ideas, and creating IT relationships that safeguard all members of the healthcare community.  

The connectiveness involved with healthcare, home health care/home care, hospitals, agencies, post-acute care, home care technology companies, home care workers, patients, families, is expanding rapidly, and at times, technology is not staying afloat.  The win/win situation is not just for companies and profit, but for the energy of innovation, creativity, and pushing the limits of unknown boundaries of technology.  Partnerships, especially involving large organizations, can create scary scenarios when people directly affected are not given a voice; however, when all parties are involved with the development and evolution of productive partnerships, from presidents of companies to workers to patients, result-driven, value-based care can exceed expectations for many, many years. 

About Sinq Technologies

Sinq's collaborative software technology platform was built with purpose in mind. Sinq's Care Plan Transparency, Care Gap Management, EVV / EvS, and Change in Care Monitoring makes Sinq's software stand out within the industry, and with Payors, Providers, and Plans. We can help you become compliant, but our expansive software offers long-term solutions for the betterment of your agency and clients. 

Call today for more information, discuss partnership ideas, view a free demo, or for  consultation at 847-325-5007, or talk directly to Matt at 630-596-6721, email Matt at mtipples@sinq.io, or visit us at http://www.sinq.io/.

A Busy, Productive Summer for Sinq Wraps Up in Glen Allen, Virginia

Sinq’s Participation in Virginia’s Association of Home Care and Hospice Conference Rewarding and Insightful (Respect for the Home Care Workers) 

Sinq Technologies had the great opportunity to attend the Virginia Association of Home Care and Hospice Conference on September 25 in Glen Allen, Virginia.  Matt Tipples, Sinq’s Business Development Executive, reported record number of participants interested in the Sinq’s software and services.  They were also treated to Sinq’s platform and reporting demos.

The traffic to the Sinq booth was electric, and Matt received nothing but positive feedback from home care providers and home care aides alike.  “The energy was amazing at the conference,” states Matt.  “Our business is growing, our clients are happy, and I believe, as I always have, that Sinq has a unique business model that is supported by its specialized, industry-leading home care technology.”

Matt notes that the home care providers, home care aides, direct care workers are exceptional, respectful, hard-working individuals who are eager to learn about Sinq’s home care software.  Working with agencies and home care aides is a very rewarding experience for Matt and the Sinq tech team, but the acknowledgment of caretaker turnover rates and retention looms large for the technology company.

“We are constantly researching ways through technology to preserve the important roles home care aides and caretakers have within the home care industry.  Concentrating on EVV and the mandate is not addressing the real issues that will impact countless number of people receiving home care.  We believe the lack of home care workers will be at crisis mode soon, and we want to be a part of the solution.  We realize it is not a ‘tech’ problem, but the industry must look at all avenues for viable answers.”

In a 2017 study conducted by Stephen Campbell, a data and policy analyst for PHI, (Paraprofessional Healthcare Institute) entitled “U.S. Home Care Workers: Key Facts,” Campbell notes that:

• Home care worker wages stagnated over the past 10 years: inflation-adjusted median hourly wages were $10.33 in 2006 and $10.49 in 2016; 
• Two-thirds of home care workers work part time or for part of the year;
• Because of low wages and inconsistent hours, home care workers earn a median income of $13,800;
• Low annual earnings result in a high poverty rate among home care workers: 23 percent live in households below the federal poverty line, compared to 7 percent of all U.S. workers;
• From 2014 to 2024, home care workers are projected to add more jobs than any other single occupation, with an additional 633,100 new jobs anticipated;
• From 2015 to 2050, the population of adults aged 65 and over will almost double, growing from 47.8 million to 88 million;
• Labor force participation among women ages 20 to 64, who currently make up most of the home care workforce, will increase by only 1.2 million in the next decade, compared to 7.3 million in the previous decade.

Campbell finally notes in his report that, “A significant shortage of home care workers emerges from greater demand for home care services paired with little growth labor force. In this context, jobs will need to be more competitive, offering higher wages and benefits, full-time hours, better training and advancement opportunities, and improved working conditions.”

There is a lot of work to be done in the home care industry to make the job of home care aides, caretakers, and direct care workers desirable.  As more and more companies are paying their workers $15.00 an hour, the concept that individuals who take care of loved ones, family members, vulnerable populations, and kind-hearted people only receive $10/hour should take on a new perspective.  The importance of home care workers, and their impact on future populations should be highlighted in our society.

As members of the home care workforce circulated around the VAHC 2018 conference in Virginia, the uphill battle faced by the industry was tangible.  However, even in the face of hardship and difficulty, the home care workers are a proud group willing to provide excellent care for clients because it is inherent in them.

Sinq would like to thank the VAHC, especially Debbie, and all the caretakers, aides, direct care workers who visited the Sinq booth and spent time to learn about our product.

About Sinq Technologies

Sinq's collaborative software technology platform was built with purpose in mind. Sinq's Care Plan Transparency, Care Gap Management, EVV / EvS, and Change in Care Monitoring makes Sinq's software stand out within the industry, and with Payors, Providers, and Plans. We can help you become compliant, but our expansive software offers long-term solutions for the betterment of your agency and clients.

Call today for more information, a free demo, or a consultation at 847-325-5007, or talk directly to Matt at 630-596-6721, email Matt at mtipples@sinq.io, or visit us at http://www.sinq.io/.