The Rise in Home Infusion Therapy: Balancing Safety and Cost

The Rise in Home Infusion Therapy: Balancing Safety and Cost

Introduction:

Home infusion therapy has experienced significant growth in recent years due to patient demand, the availability of specialty drugs, and workforce shortages. This practice allows health systems and specialty companies to administer intravenous prescription drugs in the comfort of a patient's home, reducing overhead fees and reserving clinical space for more acute cases. Payers also see potential cost savings in this approach. However, as the popularity of home infusion therapy increases, concerns about safety and cost are being raised. In this article, we will explore the challenges and opportunities of home infusion therapy and discuss potential solutions.

The Complexities of Reimbursement:

One of the primary challenges in home infusion therapy is reimbursement. While Medicare now offers coverage for home infusion therapy as a permanent benefit, the per-diem rates may not adequately account for the rising costs of drugs and equipment. According to Connie Sullivan, the president and CEO of the National Home Infusion Association, the bundled per-day payment must cover all services, delivery costs, overhead expenses, and wages. As a result, the industry is grappling with the increasing costs, which can impact the sustainability of home infusion therapy.

Safety Concerns and Quality Reporting:

Another area of concern is the lack of data on safety and quality reporting for home infusion therapy. The Centers for Medicare and Medicaid Services and the Leapfrog Group do not include data from home infusions in their quality reporting. However, some research suggests that in-home therapy can lead to better treatment compliance, fewer missed doses, reduced infection risk, and improved monitoring by clinicians. To address safety and regulatory concerns, there is a need to assess whether patients can safely self-administer treatment and ensure proper storage of drugs during transit.

Expanding Beyond Chronic Disease Treatments:

Home infusion therapy has the potential to expand beyond chronic disease treatments into post-acute care services. This presents an attractive market opportunity for insurers, consulting agencies, and tech companies. However, to be successful in this space, a solid understanding of all aspects of the business is crucial. So Yeon Kang, a doctoral candidate of health policy and management at the Johns Hopkins Bloomberg School of Public Health, emphasizes the importance of flexibility in defining providers and payment policies. Disruptor companies that can navigate these complexities may find great opportunities in the home infusion therapy market.

Employee Retention in 2023:

Shifting gears, let's explore the companies that employees don't want to leave in 2023. According to recent data, ConocoPhillips boasts the longest average tenure among employees (10.6 years). This energy company, Alaska's largest crude oil producer, offers university scholarships to attract young talent and provides challenging and rewarding projects worldwide for military veterans transitioning into secure yet exciting work. Altria Group, in joint second place, is the only retailer company in the top 20. Despite its ongoing struggle to pivot to smokeless tobacco, Altria Group retains employees by offering opportunities to explore different roles and departments, emphasizing their untapped potential.

The Challenges of Retaining Talent:

While some companies excel at retaining talent, others struggle, even among America's most famous brands. Tesla, Goldman Sachs, Netflix, Mastercard, and Alphabet (Google) are among the bottom 20 in employee retention. Notably, Apple, Amazon, and Meta (Facebook) struggle to retain employees for more than two years. Apple, once praised for its retention strategies, faced challenges when it offered significant stock bonuses to discourage engineers from defecting to other companies. This move created divisions within the company and left employees feeling undervalued, exacerbating deeper workplace issues.

Conclusion:

As home infusion therapy continues to rise in popularity, it is essential to address the safety and cost concerns associated with this practice. Reimbursement gaps, safety considerations, and the need for quality reporting are critical areas that require attention. Additionally, exploring opportunities beyond chronic disease treatments and understanding the complexities of the market can lead to further advancements in home infusion therapy. Furthermore, companies across various industries can learn from the successes and challenges of employee retention, understanding the importance of creating a supportive and fulfilling work environment. To thrive in the changing landscape, it is crucial to adapt and find innovative solutions that prioritize patient safety, cost-effectiveness, and employee satisfaction.

Actionable Advice:

• 1. Advocate for fair reimbursement: Work with industry associations and policymakers to ensure that reimbursement rates accurately reflect the rising costs of drugs and equipment in home infusion therapy.

• 2. Invest in safety and regulatory measures: Prioritize patient safety by addressing concerns about self-administration of treatment and proper storage of drugs during transit. Collaborate with regulatory bodies to establish guidelines and standards for home infusion therapy.

• 3. Foster a supportive work environment: To improve employee retention, create a workplace culture that values and supports employees. Provide opportunities for growth, offer challenging projects, and address deeper workplace issues to enhance employee satisfaction and loyalty.