The revolution in private equity has positively benefited home care’s solution partners, which are the companies whose systems and products enable gains in margin and efficiency and allow providers to demonstrate value and take risk. Investor interest in home-based care technologies has fostered a panoply of new companies and incumbent product enhancements.
With such a dizzying array of solution partners either in, or coming to, the market, we help our members frame up technology using the other four pillars of our Group framework.
- Workforce: Technology that helps recruit, select, deploy, reward, and/or retain staff.
- Margin: Technology that enhances productivity of front-line staff members and supplements human judgment and decision-making.
- Efficiency: Technology that enhances productivity in the back office.
- Value & Risk: Technology that enables value-based care and/or risk-taking.
The Group maintains coverage of both incumbent and new players in all four categories.
Workforce
A bevy of companies have sprung up to accelerate and support the recruiting and onboarding funnel as well as workforce deployment. Numerous solutions also exist to support corporate culture, compensation/benefits, and intra-company communication.
Margin
The next generation of remote patient monitoring – for example, ambient, contactless monitoring systems – is here. Home care businesses are also leveraging the latest in machine learning for predictive clinical analytics that complement human analysis and decision-making and help optimize care plans.
Efficiency
Robotic process automation (RPA) enables the creation of time and resource saving “bots” for streamlining operations. The rise of RPA solutions is challenging incumbent solutions to incorporate AI/ML in their core products.
Value & Risk
While there are a relative handful of systems that support the intersection of value-based clinical and financial goals, expect more of these tools to evolve in parallel with home c
