A Note from the VP, Jim Greatorex: July 2023

Published in Home Modifications on July 26, 2023

By Jim Greatorex, VP, VGM Live at Home

Have you ever heard people talk about value-based care and wonder what that is? The New England Journal of Medicine defines it as the following:

Value-based healthcare is a healthcare delivery model in which providers, including hospitals and physicians, are paid based on patient health outcomes. Under value-based care agreements, providers are rewarded for helping patients improve their health, reduce the effects and incidence of chronic disease, and live healthier lives in an evidence-based way.

Another way to put it is that providers and payers are looking to invest in certain services that would lead to better outcomes, reduce costs, and make people healthier. There are companies out there who are looking at home accessibility as a great investment that will provide the outcomes desired for value-based care on every level.

That’s why our big picture moving forward will be to help move our industry further into the forefront as a needed player in a successful homecare model. In turn, we as an industry must learn how to work with the medical community, value what they value, and earn their trust so they will invite us to serve their patients. It will be a major topic of discussion this year at the VGM Live at Home Building Opportunities Summit.

We are seeing the real possibility of private insurance companies and Medicare Advantage plans offering $2,000 - $6,000 in benefits to people for specified home modifications, and in turn, they will see great savings in decreased falls in the home. This activity will create data to show that our services are great investments and will open up all revenue streams to more growth and bigger tickets. The best part of this is that it will keep us out of the federal programs where price fixing and over-regulation permeates.

We are currently helping create a program that will pilot in a few selected markets, hopefully before the year’s end if successfully scaled rapidly. It’s an exciting prospect!

VGM Live at Home Building Opportunities Summit Registration is Open

This year’s conference is stacking up to provide some great content to help us navigate the road ahead and become the “go to” resource for home access projects. The home access market is evolving rapidly, and we will have interactive sessions that will cover the important opportunities and challenges that lie ahead. Your company leaders need to be at this conference, and we need to work together as an industry to pursue all revenue streams with best practices.

Subjects to be covered include:

Marketing to the medical community
Apprenticeship and how to establish one in your state
Building quotes and estimates that win bids and keep you in the black
Workplace safety
Retaining employees and creating a desirable workplace culture
Competing for bathroom remodels with all revenue streams

There will also be time to network with other home access leaders from all over the U.S., and we will have some fun with a banquet and entertainment on Friday night, Nov. 10. If you have been thinking about attending one of our events, this is the one to come to! The proposed agenda is subject to change to insure that we provide the most current content. You can register here.

Other LAH News

Effective immediately, we have discontinued our Entrematic/Record Automatic Door Opener Program as the manufacturer was unable to offer all the needs required in the residential market, with the biggest need being a battery backup. We will fill any outstanding quotes or orders but will not be taking new ones.

If you haven’t done so, don’t forget to check out our excellent five-part sales and customer service virtual training with Louis Feuer from Dynamic Seminars. Click here to learn more and register.

Please check out our new finance partner, Hearth, and listen to their short webinar on how you can offer financing options to your customers at reasonable rates.

Thank you for your membership and the great work you do in the communities you serve.

Jim Greatorex

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