Sunday, June 21st, 2009
I am thinking of starting a in-home, non-medical health care business for the elderly. I can’t seem to find any information on estimated first year earnings for this type of business. I am wanting to do something that really natters, but at the same time is going to feed my family! Any help on this, or how long before I should reasonably expect to see a profit will be greatly appreciated!
Sunday, 21. June 2009
Frankly, your best bet is to go about 25 miles or more away from where you intend to offer such a service and do some informational interviews with folks in the field–I saw 25 or more miles away so that you’re not in direct competition with them.
This field will require a lot of paperwork and hoop jumping to start. I’d contact:
National Eldercare Locator at 1-800-677-1116
your Area Agency on Aging
your state’s Attorney General for any potential requirements
your County Health Department
You’ll want to get Medicare and Social Security approved and on the list of approved providers for as many insurers (large ones first) as possible.
This will take serious start up money.
You’ll need a business plan.
You’ll need insurance and to have bonded, insured employees that you’ve run a background check on. Even though you won’t provide medical services, there is no good reason for them NOT to be at the very least CPR certified.
I have no idea where you live, your market, if you’re willing to jump through all the hoops, etc. so there’s no way to come up with a guess on what you could earn. It’s always harder to start a business than anyone thinks. It costs more. There are more problems to running one. It takes more energy, time, and money than people believe. You also run a risk of being sued so you NEED, this is non-negotiable, to consult an attorney and make sure you have the right kind of business structure and all necessary insurances, proper release forms, ways to process employees, etc. or this could be a good idea that bankrupts you. When ever you deal with a vulnerable population you run the risk of being sued because something WILL go wrong–it’s irrelevant if it’s your fault or not as to being sued. You need to know what to do to limit problems in advance.
Good luck.
Sunday, 21. June 2009
Hi Curtis D,
Getting information from others in the industry about local business practices, successes and failures is key. I would also recommend checking out the free ezine at http://www.ultimateseniorservice.com
When it comes to marketing in-home care services, this is the best information available!
Valerie VanBooven RN, BSN