What’s up everybody, it’s Steve “The Hurricane” and for today’s episode of “A Drink With The Hurricane,” we’re gonna talk about how we can improve our caregiver retention so that our caregivers are generating more revenue than they currently are before they leave us. So raise your glass and let’s toast to your success, cheers.
This is “A Drink With The Hurricane,” the talk show discussing all things growing your home care business. This video is sponsored by Home Care Evolution where we help home care agencies adapt to changing circumstances, transform their business so that they can thrive for years to come.
So as I was going through the Home Care Pulse report for 2022, there are always certain data findings that jump out to me. This one talking about the revenue generated per caregiver during their time working for your agency was alarming. And the reason why it was so alarming is because it specifically shows that the masters of this industry who represent the people who have a business that are doing more than $5 million a year in revenue, they found something that works that no other agency at levels lower are currently doing. So when I look at the revenue of the average agency below $5 million, those caregivers generate on average about $12,000 before they quit and they leave the agency. The masters of the industry though are generating $28,000 in revenue per caregiver before the caregiver leaves that agency. Well, that’s close to two and a half times the revenue. Same caregiver, but they’re bringing on two and a half times as much money, which means that they’re staying on employed for those master agencies longer than they are for the other agencies.
So what is it that the masters are doing that nobody else is? And that’s where I take a look at what are the positions the master agencies have that the other agencies don’t and this goes down to care coordination. The care coordinator position is a very detailed position where it’s someone who’s out there opening cases, problem solving and doing client field visits, covering shifts when there’s a call out, and they are the main communication point of the family, but what these care coordinators are doing and how to do it, I spend four weeks in the home care special ops class, which is part of my Hurricane University program, training you how to do this. These care coordinators are giving proper field oversight and management to caregivers. They’re literally visiting clients and caregivers at the home where the caregivers provide the care three to four times every single month. Now think about what I just said. Nationally, it is only required that when you start a client, you go out and you visit that client and that caregiver once every 60 to 90 days. That’s terrible, which is the reason why agencies that follow that practice have such a high turnover rate. Whereas when you look at the masters who on average employ three care coordinators, these care coordinators, if they’re visiting the client and the caregiver every seven to 10 days, they’re getting a rapport. The caregivers are getting the support that they need. The clients are getting their challenges addressed in a timely fashion and therefore that leads to a happier client, a happier caregiver who’s more likely to wanna stay working with you and your agency, and more likely to transition from one client to the next client because they don’t wanna find work at another agency that’s not gonna give them the support that you do.
So when I think about what the masters are doing that everybody else isn’t doing, it’s simple. It’s field oversight and field management. Now, if you want help on this and other tips on improving client relations, improving your caregiver retention, I highly recommend you download the Home Care Evolution quarterly magazine. It’s a free downloadable subscription when you are subscribed to it and every quarter, a new issue comes out giving you the latest and greatest data. All things on improving my operation, making sure my sales are where they’re supposed to be, how to open an agency, how to exit a business and so much more. You can download this and find out more information when you go to homecareevolution.com, where you know we’re gonna give you everything you need to blow away the competition.
So folks, I’m Steve “The Hurricane” and for free, I’m teaching all these people how to–
“Blow away the competition!”