- Decide what types of services you want to offer. Some services only require compassionate employees with basic training, while other services required highly educated medical personnel. You can offer referral-based services, placement programs or take in seniors for full-time care in your home. Each type of business has a different level of personal commitment. The less contact you have with patients and care providers, the less impact you will have on your home. Decide your level of involvement with providing the actual senior care services to help focus your service decisions.
- Formalize your business structure by incorporating. Consider establishing an S-corporation that will limit your legal liability and personal financial obligations in the event of business problems. Create a formal accounting system that will allow you to handle the large volume of paperwork required when dealing with invoicing, insurance billing and medical reporting. You will have a greater chance for long-term success if you have a strong organizational system that allows you to quickly obtain information and assess your profitability. Ensure that you have the proper licenses required by your local and state government for the services you plan to provide to avoid compliance problems.
- Obtain the necessary equipment for the type of business you want to establish. For a placement agency, you will need a properly equipped office with a computer, filing system, fax machine and a dedicated phone number for business that is separate from your personal line. Consider ring master service if your personal line is not routinely used during business hours. If you plan to provide care in your home, you will need proper medical equipment and may need to make accommodations for special needs such as extra handrails in your bathroom.
- Market your services. If you plan to run a placement agency, recruit care providers through employment ads in a newspaper and through personal connections. Thoroughly screen all employees and contracted providers to ensure they will provide compassionate and effective care for your elderly clients. Your most effective marketing tools will be word-of-mouth advertising and referrals based on your outstanding service. For in-home care, market your services through your personal connections, local senior centers and by providing information on your services at doctor's offices that frequently have elderly patients.
