Home Care 100 reposted this
Re-imagining the relationship between healthcare employers and caregivers in the new economy
Observation #6 from my first Home Care 100: The Tesseract of HH At one of the reception dinners at HC100, an artist displayed an incredible work called "The Tesseract". I wondered if it was an accident, or an active choice made by the organizers. You see in geometry, a tesseract is a "4-dimensional hypercube"- a cube, if it had a 4th dimension. Metaphorically, it refers to how complex and multi-dimensional most things are. It made me think about and appreciate the multi-dimensional tesseract a HH provider must keep in their heads, at a time of incredible change. Must feel something like this... 1. Opportunity Everywhere: HH is growing at an astounding 7.96% CAGR. What a great tailwind to ride, but.... 2. Caregiver Shortage: Caregivers are my product, and product remains in short supply. I need to invest more in my people, except... 3. Economic Pressure: Payment risk is existential. Interest rates are high. Multiples are compressed, and strategics are looking differently at the quality of my business. I have to tighten the screws on my business, just to run in place. But also... 4. Looming 80/20: I'll need to find ways to do more with less, and so... 5. The Rise of AI: I need to start thinking about re-imagining my cost structure with technology to improve our unit economics, but also.... The dimensions must feel near-infinite. To all the HH providers bold enough to be taking the tesseract head-on, I salute you 🖖🏼 #homecare #homecareagencies #HC100 #homecare100 #homehealth
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3wThis one also resonated with the "build a new box" Innovation approach! Great capture!