TheKey’s secret sauce: Don’t try to please everyone, zip codes matter

What about the question of workforce, just given the shortages today and the competition?

Yeah, that's a great question.

The one factor is that we're talking about private pay home care today, but that is only a fraction of care that's being delivered in the home.

And you have Medicaid funded, you have other government funded, and it's a huge market with huge demand.

It's growing very, very rapidly.

And the actual demand is outgrowing the supply of caregivers.

So that does create a challenge.

We're a little more immune from the challenge than most.

I will say that what drives that is, again, a week in the home.

And caregivers need jobs where they have stable and adequate number of hours.

So our clients are typically longer term, a heavy utilization, which allows us to match caregivers with clients that they will have for a long time and have adequate number of hours.

So from that, our turnover is a fraction of what the industry averages.

The shorter hours, the more inconsistent schedules you deliver, the more you're going to have a challenge with caregivers.

But we have a very robust caregiver acquisition team that's able to fulfill our needs.

We're not a company that's looking to grow at 30%, 40% per year.

We want good, steady growth that we can manage, and we can always make sure that we're not compromising our commitment to excellence.

Mm-hmm.

What about the question of workforce, just given the shortages today and the competition?

Yeah, that's a great question.

The one factor is that we're talking about private pay home care today, but that is only a fraction of care that's being delivered in the home.

And you have Medicaid funded, you have other government funded, and it's a huge market with huge demand.

It's growing very, very rapidly.

And the actual demand is outgrowing the supply of caregivers.

So that does create a challenge.

We're a little more immune from the challenge than most.

I will say that what drives that is, again, a week in the home.

And caregivers need jobs where they have stable and adequate number of hours.

So our clients are typically longer term, a heavy utilization, which allows us to match caregivers with clients that they will have for a long time and have adequate number of hours.

So from that, our turnover is a fraction of what the industry averages.

The shorter hours, the more inconsistent schedules you deliver, the more you're going to have a challenge with caregivers.

But we have a very robust caregiver acquisition team that's able to fulfill our needs.

We're not a company that's looking to grow at 30%, 40% per year.

We want good, steady growth that we can manage, and we can always make sure that we're not compromising our commitment to excellence.

Mm-hmm.