The older a person is, the more difficulty they face in performing day to day tasks. An elderly care agency can dispatch visiting nurses to an elderly person's home to assist them with physical therapy and administering medication, or they can send over an assistant to help the elderly in getting around the house and performing simple tasks like cooking, grocery shopping and house cleaning. To start an elderly care business, there are a few steps you must follow.
Things You'll Need
- Business Plan
- Business License
- Nursing Uniforms
- Medical Billing Software
- Healthcare Professional Certification
Request a list of certification programs to attend from the Department of Health in your state. Choose a program and enroll. After completing the course work, apply for the certificate of completion.
Set parameters for the elderly care agency. List the services that you will provide for the elderly. Will caregivers work with more than one elderly patient at a time or provide full-time, one-on-one assistance? Decide whether you will offer live-in service
Put together a business plan. Outline the business goals, opportunities and obstacles. Forecast the profit potential and expenses. Highlight the difference in your service from the other available elderly care agencies.
Submit your business plan to banks to apply for a loans. If denied, ask the loan officer for a recommendation on venture capital firms. Get referrals from established business owners of venture capitalist to approach. Submit your business plan to the venture capital firm.
Search for office space. Look for locations near medical facilities. Make it easy for children of elderly parents who are accustomed to taking their parents to doctor’s appointments to get to your office before, after or during one of their regular hospital visits.
Order a computer, desk, telephone and medical billing software. Contact insurance companies and schedule training classes to familiarize yourself with their billing procedures and expectations.
Enroll in a Medicaid certification course. Wisconsin’s department of Health Services mandates “To be reimbursed by Wisconsin Medicaid, BadgerCare Plus and SeniorCare for services provided to enrolled members, providers must be certified by Wisconsin Medicaid.” Download a list of recommended programs from your state’s health department or call them by phone.
Start a file management system to keep client information organized and secure. Save multiple copies of all government compliance related forms. In the book “Elder Care and Service Learning” Susanne Bleiberg Seperson writes “Unless you are working with elders of independent means who hire staff privately, elders are affected by governmental and agency decisions.”
Acquire insurance of your own for the business. Review policies with a licensed insurance agent for business liability insurance and indemnity insurance to see which works best for your business model.
Order a set of business cards. Get your office address and telephone number printed on the cards.
Write a one to three page letter to introduce your nursing agencies to doctors in the area. Explain that your elderly care agency is available if they would like to recommend some of their patients to you. List your certifications. Send the letter to physicians in the area.
Interview potential employees who have experience providing care to elderly people. Start by approaching nurses who are employed at hospitals. Spread the word around that you are looking for nurses who want to work additional shifts outside of their normal hospital schedule.