Thanks to the increased life expectancy and the aging population in the United States, there is a greater need for health care services. By 2040, the number of Americans aged 65 and older will reach 80 million.
Because nursing homes and assisted living facilities cost a fortune, seniors are choosing to live at home. The home care industry is stepping up to provide the help older adults need. If you are an entrepreneur who is looking to establish your own home care business, here are the steps you need to follow:
Create a Plan
Any business starts with a plan. Before you start hiring people, you first need to draw up a blueprint for your home health care business that will identify your marketing, management and organization, operations, and finances.
You can integrate software like those from SwyftOps.com, which will help you oversee day-to-day activities. Since you will be dealing with a number of people, from administrators to caregivers and clients, a platform that can promise to streamline your processes will make running your business a little easier and more efficient.
Hire a Good Staff
Your staff will be interacting directly with clients and providing care for a vulnerable population. As a business owner, it is part of your duty to make sure that the caregivers you employ are trustworthy and capable of helping seniors.
You will need to conduct background checks to screen applicants and filter out those who may not have the characteristics you are looking for. You may also want to prioritize hiring people who have experience working with the elderly like certified nursing assistants (CNA) or those who have cared for an ill parent in the past.
Moreover, in the home care business, caregiver turnover rates are quite high. To minimize resignations, explain to potential employees the requirements of the job ahead of time so they know what to expect.
Register
Next, you need to get your home care agency license by meeting specific requirements set by your state. Register for a National Provider Identification (NPI) number and get a tax identification number specifically for your business. These requirements usually vary depending on your location. You may also obtain certifications that will enable your business to provide certain health care services and be paid by Medicare and Medicaid.
Advertise Your Services
Once everything is in place, the last thing you need to do is to find and build your clientele. Come up with a clever marketing strategy that will help you stand out from other similar businesses. Launch your own website and social media profiles so customers can find you.
However, the best way to find clients is through referrals or word of mouth. Do a good job and people will start recommending your business to their friends and other family members. You may also speak to local physicians, senior and rehabilitation centers, geriatric care managers, and medical home companies to refer your business to those who need your services.
Establishing a successful home care business will be difficult, but it is a rewarding venture not just financially but also emotionally. It will feel great to provide assistance to seniors as they approach the final stages of life.