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The concept of home health care is dated back to the mid-1800s. The idea originated when the wealthy businessman and philanthropist, with the assistance of Florence Nightingale; trained nurses to adhere to the needs of the sick and poor at their homes. Since then, it has been considered a convenient form of treatment for people with several disorders, especially contagious ones.
Today the USA has about 429,045 home health care providing agencies. The figure very well depicts the rising demand of licensed healthcare professionals.
Home health care has been designed for patients who do not require hospitalization but are in severe need of assistive care at home. The services incorporate nurses, therapists, professionals related to the particular ailment etc who provide a range of health services and basic living aid to a population of about 12 million. The most prominent class of people who avail of home health care services are the elderly. They could be chronically ill, bedridden, sufferers of Alzheimer’s, disabled or victims of cognitive issues.
The demand for home health care services is soaring; therefore, if you are someone who desires to put your skillset and potential to work and commence a home health care business; this is the right time for you.
To start a home health care business, you need the machinery and workforce. This will require funding. If you do possess enough funds, there is nothing to worry about; but what if you are running low on capital?
Fret not; there are agencies offering loans, ACH products, financing solutions and lines of credit for working capital. The loan program can be customized according to you; therefore, you do not have to give up on your plan solely because of monetary limitations.
Once your finances have been covered, you can proceed with the process of executing the idea. As they say “Well begun is half done.”
So here are a few steps that can help you start appropriately-
1. Create a business plan
Like any other business, after the initiation of a business idea, you need to formulate a business plan. This paves the way for future prospects. A business plan is the foundation and acts as a guide throughout. The plan should include details of:
- The services that you offer- services with their pricing
- Executive summary- brief overview about your functioning
- Marketing plan- how do you plan to propagate your business and improve brand awareness
- Company description- goals and missions that you have adopted
- Operational plan– jot down the staff, and materials that you will require.
- Financial plan- evaluate the finances and research about the capital required.
2. Register your business
The authenticity of your business relies upon your registration. Register your agency with the state at the initial stages itself since this will help you acquire other requirements. After registration, your agency is certified and you obtain a license. In the USA, obtaining an Employer ID Number (EIN) is also important. It is a nine-digit number issued by the internal revenue service for the identification process.
3. Evaluate your approval
Your location and structure determine the registration process. Surf through the website of the Secretary of State for your area and check if your entity and name have been approved. Following this, you can proceed with getting a letterhead, business cards, and brochures printed. There are different business structures available like Sole Proprietorship, Partnership, Corporation, and Limited-Liability Company (LLC). The taxes you pay and personal obligations on you depend upon which business structure you choose. Therefore, give it an informed thought.
4. Obtain Medicare and Medicaid certifications
Obtaining Medicare Medicaid certification can facilitate providing target patients with various healthcare services, while the plans pay you. Check the licence requirements. These may vary from state to state. Most conventionally, it is expected that you have a specified training and CPR/AED certification. Having ACLS certification could be a plus, too. Some states may demand you to take additional courses to render personal care.
5. Launch a website
Your online presence is highly regarded today. By launching a website and employing the right marketing strategies, you can reach your target audience. Not only that, but a website can also help you hire professionals who will assist you with your business
6. Hire healthcare professionals
A company is defined by its team. When you hire professionals, make sure you address each health issue and hire a bulk of proficient professionals for each. Recruit them only after a proper background check since your reputation partly relies upon your team. To hire professionals, you can connect with medical recruitment services/agencies or utilize digital marketing tools to let them find you. Do not forget to hire administration staff too. You could start your company with a small team and expand it as and when the need arises.
After this, you are all set to begin your venture. Get acquainted with the procedure, laws, and everything that surrounds home health care services. Implement impeccable marketing strategies and provide the patients with the best that you can. With quality services and a constant good reputation, nothing can pull you back.
