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/.
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