AUSTIN, Texas, Sept. 19, 2021 /PRNewswire-PRWeb/ -- On
September 1, 2021, Experience Care
(http://experience.care), a long-term care software vendor,
modified its pricing system, giving struggling facilities an
opportunity to stay in business by only paying for the services
that they use.
Electronic health records (EHRs) in long-term care are not
cheap. The average long-term care software system costs about
$50,000 annually, and now many
facilities are struggling to pay their EHR bills due to low census
numbers during the COVID-19 pandemic. It is estimated that nursing
homes will lose $94 billion over a
two-year period. This struggle drove Experience Care to think
outside the box.
Experience Care's per patient day (PPD) system means that the
software vendor lowers its charges when its product is being used
less. Each quarter, the EHR vendor will look at census numbers and
lower the charge for those facilities that have lost residents. "If
your census numbers are down, our PPD pricing has the built-in cost
containment to help you out," said Charles
Oliver, the director of customer success.
"Other companies present their prices in PPD, but they don't
actually change their fees when their customers' census goes down.
We become true partners with our customers when we take the same
financial hits they do and this incentivizes us to make sure all of
our customers are doing well all the time," said Jason Long, CEO of Experience Care.
Facilities can save up to $25 per
resident, per month. "With our value-based pricing system, even a
100-bed facility that drops by just ten residents could save
thousands of dollars annually," said Long.
Meanwhile, when resident populations rise, so will the amount
that Experience Care charges for its software, as it will be
utilized more. "When our customers win, we win," Oliver said.
"We're partnering in your success and your hard times."
This new development is just the first of a number of innovative
financial solutions presented by Experience Care to help alleviate
the pressure on nursing homes struggling to stay in business under
exceptionally difficult COVID-19 related conditions.
About Experience Care LLC: Founded in 1969, Experience Care LLC
provides electronic health records, revenue cycle management, and
financial systems to skilled nursing facilities, assisted living,
continuing care retirement communities, long-term acute care, and
other long-term care organizations in the U.S. Experience Care's
mission is to make every long-term care organization a fulfilling
place to live and work by helping maximize financial success and
compliance to achieve the best teams, care, and outcomes.
Media Contact
Peter Murphy Lewis, Experience
Care, 631-430-9232, peter.lewis@experience.care
SOURCE Experience Care