Managing Costs to Increase Your Home Care Business’ Profitability
This tip sheet covers the factors influencing agencies’ cash flow as well as ways to proactively manage expenses through methods such as client base expansion and effective communication.
These days, agencies face plenty of economic challenges, many of which involve increasing expenses across the board. According to a third-party home care industry survey commissioned by AxisCare, 71% of companies consider the rising costs of staff, supplies, and services to be a noteworthy concern.
Waiting for these ballooning expenses to deflate is simply not an option. Agencies will need to take proactive measures to attack the problem from both sides: bringing in more revenue while trimming costs whenever possible.
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