A fast-growing startup that are experts in home care for seniors has struck an offer to simply accept Medicaid patients in Nyc.
Big Apple-based Hometeam – whose tech-enabled approach to senior care has fueled torrid growth over the past year – promises that city Medicaid users will get the same level of service as existing customers.
That's even though Hometeam's Medicaid margins will average 20 % below what it currently makes by charging $20 to $25 an hour or so for its well-reviewed services, Leader Josh Bruno said.
“When I started this company 3 years ago, my goal ended up being to one day serve the entire market – no matter how wealthy you're,” Bruno told The Post. “We got to that time sooner than I expected.”
In 2021, Hometeam has more than doubled the ranks of their metro area caregivers to a lot more than 1,000, now delivering close to 100,000 hours of care per month.
By adding Medicaid and it is pool of 150,000 New York-area home health care patients into the mix, those numbers could double again within the next 6 months, Bruno said.
The 29-year-old technology exec admits he scared off a number of growth-obsessed Silicon Valley investors by insisting on hiring full-time caregivers, providing them with health insurance and 401(k) benefits and starting pay at $15 an hour – more than 50 percent above the industry average.
“We're not one of those startups managing a negative gross margin because some [venture capitalist] said they need us to develop,” and that is not going to change with the addition of Medicaid, Bruno said.
Hometeam has had its pick of the metro area's best caregivers, and it has drastically slashed turnover of employees and patients alike by looking into making careful matches.
The startup meanwhile has armed caregivers with iPads and proprietary monitoring software which has slashed overhead costs while dramatically improving overall patient care.
“We send a daily update to any or all family members who subscriber,” Bruno said. “That way, they're not calling in a panic or anxiety a week later – they're calling in real-time and calmly giving suggestions.”
