Re: Detailed Opportunity Follow-Up --- Client Retention Economics

--0000000000003da9b30606e10b94 Content-Type: text/plain; charset="UTF-8" Content-Transfer-Encoding: quoted-printable Thank you Chen and Tiffany. Can you grant permission for RM Jessica Pascasio to access spreadsheet as well, thanks. On Tue, Oct 3, 2023 at 4:51=E2=80=AFPM Tiffany Silton = wrote: > Hi Everyone, > Please find the Spreadsheet HERE > for > you can use for this pilot. @Chen Xie I hid your > column on H. > We have also added the following tag into your URL's: *Client Retention > Pilot* > > Tiffany Silton > Director, Division Operations > * Please note my email has changed: * > tsilton@thekey.com > (760) 889-2188 > TheKey.com > [image: TheKey] > > > On Tue, Oct 3, 2023 at 2:35=E2=80=AFPM Chen Xie wrote: > >> All, see the detailed program notes below. >> >> >> Purpose: >> To identify areas of opportunities to prevent long-term Tier 1/Elephant >> clients from discharging with TheKey using available economic >> incentives/inducements. >> >> Mechanism: >> Regional Directors and a select Regional Manager in participating region= s >> will be authorized to provide special inducements to clients who have >> communicated a desire to leave service, an expected plan to leave servic= e >> in the future, or who are known to have left service for a non-mortality >> reason. >> >> The mechanism can only be used on clients who have been on service with >> TheKey for at least one month, though ideally we want to be more selecti= ve >> towards those who have been on service at least three months. >> >> Inducements can include price reductions on the hourly rate, avoidance o= f >> a future rate increase, the assignment of a favored caregiver for >> non-billed OT, or other economic benefits to the client. Provided that >> the caregiver margin remains 38% or greater (10% below our current avera= ge >> of 48%), we should seek to retain the client. >> >> Expected Outcome / Rationale >> If we can target our clients effectively who have already established >> themselves in the top 3 deciles of our Client Lifetime Value, >> incremental margin generated by these clients (who might otherwise leave >> for a cost efficient alternative) should be accretive to the net topline >> revenue and net dollar EBITDA of our business. Because we have to be ver= y >> selective and only target situations in which the client would otherwise >> be lost, authority will be delegated only to our most senior client prof= essionals >> in the field. >> >> Tracking / Authorization >> No special incentives to track but only the RD and RM Client Success >> will be authorized to approve the client concessions. >> >> Tiffany and Audra will ensure a ClearCare Tag is created to note impacte= d >> clients. >> >> Clients with an approved concession should be tracked in a spreadsheet t= o >> be circulated by Audra and Tiffany. The following columns are required: >> - Client Name >> - Start of Care Date >> - Weekly Hours Billing >> - Reason for Client's Intended Departure >> - Date of Concession >>