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HomeCare Agency Start-ups: Not For Hairdressers, Plumbers, or Dogwalkers

Starting any business is a scary endeavor, but beginning an organization that deals with ill clients in the healthcare arena has difficulties of its own. There are more factors to consider and often more challenges to face than when starting other businesses. A homecare agency start-up is not for the faint of heart, but can certainly be done with confidence when you know all the facts before you begin.

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Client Care and HomeCare Agency Start-up

First and foremost, you absolutely must have a clear understanding of what it takes to care for sick clients. Previous experience in the medical field is beneficial, but not 100 percent necessary if your team includes experienced professionals. This team can help you know how to deal with clients’ families and work within the boundaries of a care plan.

In addition to dealing with clients and their families, a homecare agency start-up requires that you have a clear understanding of how regulated the home health care industry is by both the government and payment sources. It’s crucial to familiarize yourself with local and federal guidelines regarding agency licensing, education, and other areas that may affect your ability to operate. You also need to be aware of Medicare guidelines and understand which services you can safely provide without incurring penalties.

Demographics, Competition and Homecare Agency Start-up

Before launching a home health organization, you need to determine and analyze the demographics and competition in the area you’re considering. A college town, for example, might not be the optimal place for this type of agency. Likewise, an area that is already served by several other agencies may also be a no-go. It’s important to weigh the amount of competition against the benefits of the desired location.

Some competition is unavoidable. To ensure that your organization gets off to a great start, you need a plan that will set you apart from other homecare agencies in your desired location. Consider what specialized services you can offer that will put you a step ahead. Providing skilled medical services in addition to personal care is a great way to attract clients. This, however, will require additional training for your aides.

Costs of a HomeCare Agency Start-up

Just as with any business, there is money involved in opening a home health agency. But, unlike non-healthcare organizations, it may take significantly longer to start bringing in a profit. You’ll need to pay staff, keep supplies stocked, and otherwise pay for normal agency expenses, all while waiting for your license to be approved and official – which often times takes a year or more. That said, having significant funds available to keep your business afloat while establishing the agency and obtaining a license is imperative to preventing disaster.

Required Experience for a HomeCare Agency Start-up

Experience and a clear understanding of the home health industry requirements are both important factors to consider before opening the doors of your agency. Not only will you run the agency, but you will own it. There are various aspects – both large and small – you’ll need to know to become successful. While research is a great starting point, it can’t give you the in-depth training and knowledge that experienced, professional consultants have to offer.

Kenyon HomeCare Consulting develops comprehensive, customized solutions, along with unique plans of action, to help you reach your goals. We offer professional expertise paired with hands-on training to get you started on the road to success. Reach out today to learn more.

Category: Agency Startups & Diversification

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