Where Did My Money Go? Increasing Financial Transparency and Clarity in Home Care Packages |

Entering aged care is a major life decision, one that doesn’t always come cheap. Depending on the home care package cost, it could either be affordable for some or very expensive for those who have limited financial capacities. Older adults in the aged care sector, along with their families, usually seek financial transparency because they want to know where their money is going. They certainly wouldn’t want to spend hundreds of dollars for nothing—they need to feel that they’re getting exactly what they’ve paid for.

According to a study spearheaded by Leading Age Services Australia (LASA) and Aged Care Matters, home care providers tend to lack transparency and clarity when it comes to presenting monthly financial statements and invoices to their clients. In the report, multiple respondents talked about how providers would sometimes charge them way more than the amount agreed upon despite receiving minimal or insufficient service in return. Moreover, clients reported getting charged a fixed amount for case management regardless of how much case management was actually provided. Overcharging was also an issue as some clients were “charged for seven days when they only received support for one or two days a week.

 

Just because clients are able to afford home care services doesn’t mean that they don’t worry about how much they’re spending entirely. The home care package cost and expenses will always be at the back of their minds, so it’s very important to show them clear, complete, and accurate financial records every time they ask for it. Surely the scenarios above are already considered to be serious red flags, but they can still be avoided with the help of an organised and transparent system. 

Home Care applications such as CareVision aims to bridge the gaps of care management with intuitive, empathic, and well-researched features. With CareVision, organisations can easily export invoices from the Management Portal and import them to their chosen financial system like Xero, Epicor, and even Keypay. Service rates are also centralised and are determined by different factors, from the staff member’s check-in and check-out time to the total kilometers traveled by a staff to get to their appointment.

As a consumer directed care-focused platform, CareVision gives clients the opportunity to take control of their care. Medical appointments, personal to-do’s, and scheduled activities for the day can all be seen from the CareVision TV and mobile app, which means that both clients and families are always fully aware of what’s happening. Additionally, communication lines are open and visible so care managers or staff members can share reports or anything worth mentioning to a client’s family.

 

Book a demo with CareVision today and discover how you can further increase your organisation’s transparency and integrity.

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