In the past, seniors who lacked the mobility necessary to be completely
self-sufficient often turned to nursing homes. Today, seniors have a
number of options for obtaining various levels of care, such as home
care, assisted living and medical and nonmedical transportation
services. Many seniors who wish to retain their independence require
minimal assistance, which can include transportation services, cleaning
services, companionship, diet monitoring, bill payment, grooming
assistance and light chores. An elder care business can meet these
needs.
Step 1
Conduct market research to identify those areas of elder care that are lacking in your area. The U.S. census is a great place to start. There are many options within the elder care industry. Start with areas that interest you or that you have experience in. You may find that transportation services are lacking. If you don’t mind spending your days behind the wheel, starting a nonmedical transportation business could do well. If you enjoy cooking or shopping, consider starting a companionship service. Likewise, if you are a nurse or physical therapist, focus on utilizing your skill set with a nursing care or rehabilitation business.Step 2
Contact your state’s department of health services to learn the rules and regulations governing your business model and insurance requirements. For example, if you plan to provide medical assistance or medical transportation services, you will be required to obtain additional training or certifications.Step 3
Obtain CPR and first aid training in addition to any state-required training or specialty training. Study your state's patient’s bill of rights, if it has one. The American Red Cross, the National Association for Home Care and Hospice and the National Board for Certification of Hospice and Palliative Nurses provide various levels of training and certifications for elder care professionals.Step 4
Consult with an accountant and lawyer to determine whether to set up a limited liability company or other entity, and find out about tax implications for hiring contract workers.Step 5
Invest in home care accounting software designed for your business model. Relevant features may include patient intake, a medication database, scheduling, billing and invoicing.Step 6
Develop written policies for your business that detail how you handle emergencies and complaints, payments, employee training oversight and your commitment to patient confidentiality.Step 7
Develop hiring criteria for your employees. Hire a background company to conduct background checks on all applicants. Create a detailed interview process that establishes your policies, expectations for your employees, information on the patient’s bill of rights and the nature of the work. Your employees should be of the highest caliber: compassionate, loyal, discreet, outgoing and good-natured.Step 8
Establish procedures so potential clients can know what to expect and understand their responsibilities, such as disclosing relevant information or reporting unsatisfactory care.Step 9
Develop brochures that detail the nature of your services, your background and experience, your written policies, annual training requirements for your staff and your commitment to compassionate and discreet care.Step 10
Market your business to local physicians, outpatient centers, clinics, community centers and senior centers.Things Needed
- Business plan
- Business permit
- Insurance
- Written policies
- Background investigation company
- Brochures
- Trained employees
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