As we begin the first few days of 2019, I want to share some highlights from last year, as well as my hopes and intentions for the year ahead.
2018 was an exceptionally successful year for MatrixCare, culminating in our exciting new relationship with ResMed, a world-leading connected health company. However, the foundation for that success was laid several years ago. Back in 2012, as we were looking at our country’s healthcare crisis and the impending “Silver Tsunami,” it became clear that the only sustainable healthcare model would be one that focused on results—that is, fee for value vs. fee for service.
At MatrixCare, we decided to place all of our bets on this shift and doubled down on products and innovations that would help providers better manage care outcomes. There were some bumps along the way as the election of 2016 shook things up, and we weren’t sure exactly how much of an impact the Trump administration would have on healthcare reform.
However, when the Patient-Driven Payment Model was passed mid-year with an implementation timeframe of Fall 2019, it became clear that our early bets had been the right ones.
Mid-year was also the point when a lot of regionally based, fully integrated LTPAC providers embraced MatrixCare’s strategy of creating one platform for active care management and organizations like PruittHealth, NHC, Pegasus Senior Living, Signature HealthCARE chose us as the technology provider to help them navigate this shift to value-based care. Meanwhile, others started looking more closely at their current vendor’s strategy around enterprise-level analytics, clinical decision support, and care coordination to see what they might be missing. As this due diligence continues, we expect to bring many of these same organizations onboard in 2019.
One of the highlights of 2018 for me, as a leader in this industry, was our first Executive Directions conference in Naples, Florida, in late November. This invitation-only event gave C-suite executives a chance to learn about creating a culture of performance in their organizations. A number of industry leaders shared their predictions for the next couple of years, with one of the most memorable comments coming from a CEO who remarked on the consolidation trend he’s been witnessing—and benefitting from—as an operator of facilities in the western US. This executive compared what’s happening in long-term, post-acute care to the regionalization of hospital networks over the last decade and stressed to his fellow CEOs that LTPAC would be experiencing the same thing over the next 3-5 years.
We believe that MatrixCare customers are in a better position than their peers to ride out these changes successfully. In fact, recent data shows that MatrixCare customers are 5x more likely to be on the winning side of a change in control. This is something that many of our customers have experienced firsthand and is one of the reasons they value MatrixCare as their technology partner.
MatrixCare’s recent acquisition by ResMed makes us even more optimistic for the coming year. Its ownership of Brightree—a leader in the Home Health and Hospice space which nicely complements MatrixCare’s strong private duty solution—means that we can now offer our customers a complete A-Z solution for the entire spectrum of out-of-hospital care. To learn more about our plans to help providers succeed under PDPM, please plan to attend our annual Directions User Conference in Nashville, April 24-26.
I always enjoy speaking with our customers and other providers to learn more about their challenges in this dynamic industry. MatrixCare can’t be successful unless our customers are successful—and when that success results in better care for America’s seniors, everybody wins!
Wishing you a happy and successful 2019!