Planning your niche in the "high tech" home care market

Proponents of high tech home care cite its significant cost savings compared to similar therapies provided in an inpatient setting. Further proof of its cost effectiveness may, indeed, provide support for more attractive reimbursement coverage in the future and greater use of such therapies. However, at the present time, existing and prospective providers should proceed cautiously given the potential reimbursement pitfalls and increased competition. Hospitals, in particular, are increasingly interested in participating in this market, either through providing all aspects of the program or only parts. As such, agencies may find them either to be competitors or affiliated partners in providing high tech home care. Agencies have a variety of choices to make regarding high tech home care: provide specialized nursing care, provide equipment/supplies, handle billing, or handle it all. Whatever the approach, it is critical to understand the reimbursement aspects and target marketing efforts to hospitals, high tech product companies. HMOs, and perhaps most important, physicians.