Home Health Care News covered the trend in home care payers as the private pay model gradually gravitates toward government-funded programs.
Family Resource Home Care was cited as having revenue comprised of 60% private pay and 40% from payers like the VA and Medicaid. With the changes following Family Resource’s recent acquisition, its CEO Jeff Wiberg emphasized that the company will not be moving away from the private pay model, but is still ensuring that private pay isn’t the majority of the company’s revenue.
Wiberg told Home Health Care News, “At the end of the day, the private-pay population that we serve oftentimes has capitated income streams and may not be able to keep up with that inflationary cost. Home care has always had this doughnut hole. On one side, you have the wealthy that can fund care no matter the cost. On the other side, you have those that cannot afford any care, and therefore, government programs will oftentimes pick up the cost.”
To read more about the growing trend in home care payers, red the full article in the link below.