As various medical procedures and options become readily available at home, instead of traditional clinics or even a hospital setting, it is helping to save patients as well as insurance companies money. This is causing more insurance providers to offer these options to their clients, which is having the ancillary benefit of inspiring more of these home based services.
Home infusion therapy is usually provided by registered nurses or doctors, but also pharmacists have been able to provide some of these services to patients in need. One particular company, Binson, has been delving into the home care sector in recent years and has doubled its size over the past six years.
The family owned company now generates $100 million in revenue and employs 600 people. It has partnered with hospitals and has expanded to a number of services, including home fusion, sleep apnea programs, and in-home health care nursing.
As noted in the Crain’s Detroit Business blog, Binson’s Home Health looks toward growth opportunities, written by Jay Greene:
“Home infusion therapy is getting a boost as health insurers such as Blue Cross Blue Shield of Michigan, Priority Health and a growing number of others are beginning to create incentives for patients to get infusion therapy at home rather than at more costly outpatient hospital departments, Crain’s has reported.
“We had only dabbled in home infusion and now we are offering it in Southeast Michigan and into Genesee County” through Binson’s Pharmacy, Fasse said. “We provide a full range of services for home infusion — medications, nursing support, DME. Everything is consolidated for patient convenience.””
The company considers itself the “Home Depot” of health care. Predominantly a pharmacy, its expansion has shown the impact health care providers can have within the home care sector. As insurance providers realize the cost saving benefit for its policyholders to be cared for at home rather than in a hospital environment or even a nursing home facility, they are beginning to expand their options for home care services.
Home infusion therapy may not be needed by a majority of people, but this small example highlights the impact that the home care industry can have on just about any company invested in its future.
Home care is certainly expanding and its impact will continue to grow, especially as other organizations look at ways to improve quality of life and offer valuable services to elderly and disabled men and women in need.
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