Senior Care Business Start Up Steps
Are you Interested in Starting a Senior Care Business?
Life expectancy has increased dramatically over the last few years. As a result, people living to 100 years of age are now one of the fastest growing segments, which has spiked growth in the senior care business industry. As the number of elderly people increases, so does the need for home care. A medical or non-medical home health care business is a promising business with unlimited potential. If you are interested in a comprehensive guide on how to start a senior care business please see our Senior Care Business Start up Package
Here are some simple steps to consider on how to start a successful senior care business.1. Consider whether you will start your own senior care business or become part of a franchise. If you are starting your own senior care business or want to just work for yourself, purchase our Senior Care Business Start up Package
2. Start your senior care business in an area with a growing population of seniors. Check census profiles of different cities for the elderly population, ages 65 and over. Target large cities or cities with large retirement communities.
3. Requirements vary from state to state, so be sure you check with your local government for proper state licensing and certification required to legally start and operate a senior care business in your state. Research the license requirements in your city and state for senior care. Health regulations may include providing documentation about your workers’ eligibility and certifications.
4. Determine the type and amount of insurance you will need for your senior care business. At the very least you will need liability insurance, for performing senior care services in other people’s homes. Your city or state may also require a minimum amount of liability insurance. More detailed information is available in our Senior Care Business Start up Package.
5. Hire part-time, or contracted workers when starting your senior care business to maintain costs. Be aware that for a senior health services, you will need to hire nurses and nurses’ aides. Ask potential candidates about their experiences with the senior population, most of whom require care unique to their age. Perform all necessary criminal and background investigations for each employee that is hired for your senior care business. More detailed information is available in our Senior Care Business Start up Package.
6. Accept private medical insurance by making sure your senior care business meets individual insurer requirements. You can get this information by contacting them directly and obtaining a list of those requirements.
7. Obtain the additional senior care license and certification needed to accept Medicare and Medicaid clients. To do this, apply through the State Medicare agency. A state representative will inspect your agency to make sure it meets all of the required health and safety standards. You are required to have at least seven clients and three months of operating funds and steady revenue after you start your senior care business. More detailed information is available in our Senior Care Business Start up Package.
8. Set up a billing system for your senior care patients and for insurance companies. Decide which insurance companies you will accept. You will have to work with Medicare, for the senior population. Secure the software necessary to do the billing and to communicate electronically with Medicare and supplemental insurance companies. More detailed information is available in our Senior Care Business Start up Package.