Advanced Search

Home Health & Hospice Week

Industry Note:

Examine This Case Study For Cost-Cutting Tips

Published on Wed Jun 15, 2011

If you're looking to cut your spending in these trying financial times, you may want to take a page from one Milwaukee home health agency that's been there. Horizon Home Care & Hospice has cut $1.3 million from its annual budget this year, reports The (Milwaukee) Business Journal. Horizon, which has annual home care revenue of $12 to $13 million, used a number of budget- cutting strategies, according to CEO Mary Haynor. The cuts were necessitated by cuts in Medicare reimbursement rates and a rate freeze for Medicaid, Haynor told the Journal. How? Among other tactics, Horizon eliminate four manager positions through attrition; laid off one employee; offered part-time workers incen tives to work more hours; and "looked at" processes. The company did it by "holding nothing sacred," Haynor said. What's ahead: Continued rate-cutting will cause smaller companies to close or consolidate, Haynor predicted.
You’ve reached your limit of free articles. Already a subscriber? Log in.
Not a subscriber? Subscribe today to continue reading this article. Plus, you’ll get:
  • Simple explanations of current healthcare regulations and payer programs
  • Real-world reporting scenarios solved by our expert coders
  • Industry news, such as MAC and RAC activities, the OIG Work Plan, and CERT reports
  • Instant access to every article ever published in your eNewsletter
  • 6 annual AAPC-approved CEUs*
  • The latest updates for CPT®, ICD-10-CM, HCPCS Level II, NCCI edits, modifiers, compliance, technology, practice management, and more
*CEUs available with select eNewsletters.

Other Articles in this issue of

Home Health & Hospice Week

View All