Episode Transcript
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Speaker 1 (00:00):
You know how
everyone's talking about home
care these days.
It's everywhere you look, andit's no surprise when you see
the numbers.
We're talking billions, with aB by 2030.
But what's really going onbehind the scenes of this
booming industry?
Well, we've got a ton ofresearch here to unpack, so
thankfully we've got an expertto help us make sense of it all.
Welcome to the show.
Speaker 2 (00:19):
Thanks for having me.
Yeah, I've spent a good chunkof my career in health care
business analysis and let metell you, the home care sector
is definitely facing its fairshare of hurdles right now.
Speaker 1 (00:29):
One of the things
that seems so counterintuitive
is how can you have this hugedemand but then struggle to keep
skilled people on board?
It just seems like a paradox.
Speaker 2 (00:41):
Yeah, it's definitely
a critical issue.
The stats are pretty alarming.
We're seeing something like athird of caregivers leaving the
profession every single year.
Burnout is a huge factor.
Speaker 1 (00:50):
Makes sense.
I mean, it's such demandingwork, right.
Speaker 2 (00:52):
Oh, absolutely, both
physically and emotionally, you
know, and we're not just talkingabout the medical stuff, it's
the emotional support, thecompanionship.
Those are huge, especially ifyou're dealing with things like
dementia.
Speaker 1 (01:03):
Right.
It's not just about findingpeople with the right skills.
It's finding people who canstick it out Right.
What is it about this industryspecifically that leads to such
high burnout rates?
Speaker 2 (01:14):
Well, the long hours
are definitely a factor, often
for, to be honest, not thegreatest pay.
And then you layer on theemotional toll of caring for
people who are often in verydifficult situations.
It adds up.
Plus, more and more hospitalsare pushing for at-home care
these days, so you've got thisfierce competition for qualified
caregivers.
Speaker 1 (01:32):
So how do we ensure
quality of care with this
constant churn of staff?
I mean, if I'm a family, I needto know that the person coming
into my loved one's home is bothcompetent and compassionate
100%.
Speaker 2 (01:46):
It all comes down to
trust, doesn't it?
And that's where things geteven trickier.
Speaker 1 (01:50):
Because it's not just
about filling a slot.
It's about making sure someoneis properly trained, vetted.
I see a lot here aboutregulations.
Speaker 2 (01:58):
And for good reason.
We're talking about vulnerableindividuals often needing help
with incredibly personal partsof their lives.
So training, background checks,ongoing supervision these
aren't just boxes to check.
They're the foundation of thattrust you were talking about.
Families are already dealingwith so much.
They need to know they can relyon the agency they choose.
Speaker 1 (02:16):
With all that to
juggle caregivers, schedules,
training regulations it makesyou wonder if technology could
be the answer.
Speaker 2 (02:24):
That's the
million-dollar question, isn't
it?
I mean, we'd love to thinkthere's an app for that right,
but it's rarely that simple.
Speaker 1 (02:31):
Let's dig into that
because, honestly, these days
they're IS an app for prettymuch everything.
So what makes home care tech sodifferent?
Speaker 2 (02:40):
It's easy to think,
oh, technology will fix it.
But home care has some reallyspecific needs.
Speaker 1 (02:46):
Right, it can't be
just one app that magically
takes care of everything.
Speaker 2 (02:50):
Exactly, exactly.
Think about it.
You've got scheduling softwareto coordinate all these visits,
right.
And then you've got EHRs, youknow electronic health records
for all the patient information.
Oh, and then telehealthplatforms on top of that for
virtual check-ins and such, andof course you can't forget
payroll systems, plus all theways you're communicating with
families.
It's a lot.
Speaker 1 (03:10):
And even if you've
got all the different systems,
you need people who can actuallyuse either.
Speaker 2 (03:14):
Training, training,
training.
You might have some caregiverswho've been doing this for years
.
They're not used to new tech.
Then you've got office staffwho have their own routines.
And you can't forget aboutfamily members, who might be
tech phobic.
Getting everyone on the samepage, making sure they can
troubleshoot if something goeswrong, that's vital.
Speaker 1 (03:31):
That reminds me of
something my friend was telling
me about.
His mom was using a home careagency and there was a
scheduling mix-up.
The caregiver called out sickbut somehow the message got lost
in the system and no one showedup that day.
Can you imagine the stress,Especially for his mom.
She really relied on that care.
Speaker 2 (03:50):
It really highlights
how essential reliable
technology is in this industry.
Even a small glitch can have ahuge impact, not just for the
agency but for the peoplethey're caring for.
Peace of mind is so important.
Speaker 1 (04:01):
It sounds like
getting the tech piece right is
just the tip of the iceberg.
So say you've got your staffingsorted.
Your tech is top notch.
How does an agency actuallystand out?
There's so many to choose from.
Speaker 2 (04:12):
That's where having a
strong value proposition is key
.
What makes them different?
What's their unique sellingpoint?
Speaker 1 (04:18):
So it's like finding
that unicorn agency experience,
reliability, great tech, butalso that little something extra
.
Speaker 2 (04:25):
It really is.
Maybe they specialize insomething specific like dementia
care, or maybe they focus onpost-surgical recovery, or it
could be their communication.
Some agencies are really goingabove and beyond, doing video
updates for families that livefar away, using secure messaging
to keep everyone in the loop.
Speaker 1 (04:42):
It seems like trust
is really the name of the game
in this industry.
Families are trusting agencieswith the well-being of their
loved ones.
Speaker 2 (04:50):
You said it, and
building that trust it takes
time.
Transparency, genuinecompassion, agencies that really
prioritize communication,personalized care plans focusing
on the individual those are theones that will really stand out
.
Speaker 1 (05:05):
And of course, we
can't talk about home care
without talking about theelephant in the room Cost this
stuff isn't cheap.
Speaker 2 (05:12):
It's definitely a big
concern for families and for
agencies.
Speaker 1 (05:15):
Especially for
families who are already dealing
with so much emotionally,logistically, adding that
financial burden on top ofeverything else can feel
impossible.
Speaker 2 (05:25):
It is a tough one
finding that balance.
Families are stretched thin,agencies need to stay afloat and
with caregiver salaries risingwhich is a good thing, by the
way it's a constant juggling actto make the numbers work.
Speaker 1 (05:37):
Right, and it's not
just about the hourly rate
either.
I bet there are a ton of hiddencosts with home care.
Speaker 2 (05:42):
Oh tons.
You've got transportationspecialized equipment if they
need it.
Then there's all theadministrative stuff, and then,
on top of everything, you've gotinsurance, which is a whole
other beast.
Speaker 1 (05:53):
Yeah, navigating
insurance seems like a nightmare
.
Speaker 2 (05:55):
It can be.
Some agencies will specializework with certain plans.
Others are more focused onbeing upfront about costs for
families paying out of pocket.
Transparency is key, you know.
Imagine getting a clearbreakdown.
Ok, these are the services.
This is what each one costs.
This is what insurance covers.
That would make things so mucheasier for families.
Speaker 1 (06:16):
So we've got all
these challenges, but it also
feels like there's a lot of roomfor innovation in this industry
.
Where do we even go from here?
Speaker 2 (06:22):
Well, that's what's
so exciting.
We're on the cusp of somereally big changes, particularly
when you look at AI and remotemonitoring.
Speaker 1 (06:29):
Okay, ai, everyone's
talking about it.
What could it mean for homecare specifically?
Speaker 2 (06:36):
Think about it.
You could have systems thatanalyze data from those wearable
sensors.
You know the ones.
They could pick up on earlywarning signs.
Maybe someone's heart rate ischanging or their sleep patterns
are off, and that could allowfor early intervention.
Or even AI assistance that canhelp caregivers with the
day-to-day medication, reminders, scheduling, maybe even provide
companionship, something tohelp combat that loneliness some
(06:58):
people feel.
Speaker 1 (06:59):
It's incredible to
think about all the
possibilities, but at the end ofthe day, caregiving is about
human connection, right,compassion, empathy.
Can technology ever reallyreplace that?
Speaker 2 (07:09):
That's the question,
isn't it?
And I don't think it's aboutreplacement, it's about
augmentation.
Technology can't replicatehuman connection, and it
shouldn't.
The agencies that really thrive.
They'll be the ones who figureout how to use tech to enhance
that human element, not replaceit.
Speaker 1 (07:25):
So using AI to
empower caregivers, give them
the tools and support they need,rather than trying to push them
out of the picture completely.
Speaker 2 (07:33):
Exactly what if AI
could take over some of those
administrative tasks, the stuffthat takes up so much time.
Suddenly, caregivers have moretime to spend with clients,
build those relationships, orusing telehealth to connect
families who live far away.
Keep everyone in the loop.
That's what's really powerful.
Speaker 1 (07:51):
It's a good reminder
that, even with all this amazing
tech, that human touch, thatpersonal connection, it's still
so essential, especially incaregiving.
Speaker 2 (07:59):
It's a complex
industry, full of challenges,
but there's so much potentialfor positive change.
Speaker 1 (08:05):
Well said.
We hope this deep dive hasgiven you a lot to think about.
This is an industry that's onlygoing to become more important
in the years to come, and we'lldefinitely be keeping a close
eye on all the developmentsUntil next time.
Thanks for diving deep.