NEW YORK—HHAeXchange, a provider of homecare management solutions for providers, managed care organizations (MCOs) and state Medicaid agencies, announced the company welcomed new executive leaders, forged new customer and state partnerships and enhanced products throughout 2023.
The home-based care services market—already buoyed by unprecedented expansion over the past decade—is on the brink of extraordinary growth. A projected compounded annual growth rate of 7.5% is expected to propel the home health care market to an estimated value of $253.4 billion by 2030—an astronomical leap from approximations that put the market’s 2022 value at $142.9 billion. Anticipating the increased demand for care associated with the industry’s growth, HHAeXchange has been focused on providing the services and tools that providers, payers, caregivers and families need to keep pace.
The 2023 appointments of two seasoned health care technology industry veterans—CEO Paul Joiner to lead the company in optimizing operations and developing solutions to better support customers and the industry’s ever-changing demands, and CTO Tim Brewer to drive HHAeXchange’s technology and product strategy and delivery models—support HHAeXchange’s focus on ensuring its solutions enable better health outcomes, drive efficiencies and allow for an improved customer experience, the company said.
“The demand for homecare will only continue to grow and...it’s our job to deliver solutions that set the standard for how care is delivered now and in the future,” Joiner said. “While we have been working hard to meet the evolving demands of our customers, in 2024 we will continue to partner with providers and payers to further improve upon our product offerings and support services.”
Market Expansion and New Partnerships Among 2023 Milestones
The leadership team’s approach contributed to the expansion of HHAeXchange’s payer and provider customer base. In addition to becoming the designated aggregator in Illinois, Michigan and Mississippi, the company was named Texas’s subcontractor to provide a state-funded EVV system. Shortly thereafter, Texas-based Gentiva Personal Care partnered with HHAeXchange to provide homecare software to its agencies in four U.S. markets. Processing its one billionth EVV confirmation—a goal 16 years in the making—is a testament to HHAeXchange’s longevity and expertise in the homecare space, the company said. Additionally, the organization has earned a spot on the Inc. 5000 list of the fastest-growing private companies in America for the past nine years in a row.
HHAeXchange also delivered product enhancements to help their customers streamline operational efficiency, enhance data-driven decision-making and improve regulatory compliance and privacy standards. The company made numerous updates to its billing workflows, including improved performance of its billing review page, an overnight shift split option and an enhanced billing dashboard. Additional new features—such as automatic shift splitting and advanced data dashboards—facilitate better patient-care management, provide deeper data visibility and simplify financial processes for greater accuracy for homecare agencies.
"Partnering with HHAeXchange over the past 16 years has been integral in allowing us to focus on our mission of offering qualified homecare support that is also knowledgeable of customs, languages and personal needs, by enabling us to focus on the necessities of our clients instead of putting added effort on the administrative side of the business," said Julian Hagmann, vice president of Caring Professionals Inc. "As our company continues to care for the New York population, we look forward to expanding our partnership with HHAeXchange, leveraging their new solutions so we can further support our caregivers and clients.”
In 2024, HHAeXchange will continue its steadfast commitment to advancing its product offerings and improving its customer experience, such as by reducing technical support response times and providing more self-serve options and ultimately allowing for homecare workers to deliver better homecare.