Kenyon HomeCare ConsultingTrying To Decide If You Have The Money For New Home Care Start Up? Feel Like Your Head Is Spinning? - Kenyon HomeCare Consulting (206) 721-5091

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Trying To Decide If You Have The Money For New Home Care Start Up? Feel Like Your Head Is Spinning?

Home care start upNo one wants to go into a home care start up barely keeping a head above water. It is important to know what to consider before jumping in head first.  Let’s take a look at how you can begin successfully.

6 Things to Consider In Costs Of A Home Care Start Up:

It takes tine, and consequently, money, to have a home care start up.  Here are the items you need to consider before you hang a shingle and see your first patient.

1. Take A Look At Your Intended Service Area:

This is where you consider a feasibility study and competitive analysis.  If your market is saturated with home care, you will be fighting for potentially a very small share of the market.  You also need to consider if you are rural or urban.  If your costs of mileage and travel time will leave you in the hole every time you make a home care visit, you need to reconsider.  Now, this may mean opening shop in a different location or a unique service that other agencies in your area do not.

2. Legal Requirements To Get Started:

As part of a home care start-up, you will need to establish a Tax ID and NPI number.  You will need to decide whether you wish to seek accreditation.  Being an accredited provider means that the accrediting body will complete the survey process in lieu of a state survey providing deemed status.  Accreditation requires a higher level of quality standard and does have costs attached, but there is always a resource there for you to ask questions.  The accrediting body is there to provide education and help you meet the quality standards.  If you decide to become accredited, you will need to choose which organization to do so.  There is cost attached to working with an accrediting organization, but the initial survey will be completed much quicker than through the state.

3. Licensing Requirements:

Most states require licensure, so the completed forms will need done and submitted to the state.  This will include documents that need submitted with the application and fees are attached.

4. Recruitment and Hiring:

Hiring the right people is time-consuming and costly.  You will need to decide the easiest way to facilitate this process.  Hiring new people means background checks, fingerprinting, payroll management and training.  Once you have been given the green light to provide services, you will have to maintain 10 clients on services for survey to be conducted.

5. Policy/ Procedure Manuals:

Every agency needs policies in place for administrative purposes as well as organizational management.  You also need up to date procedures that include items for the clinical staff like infection control and safety measures.  Client service records will need established with a clear procedure of information management.  Starting from scratch on these is very time-consuming when vendors have established up to date manuals available on demand.

6. Marketing/ Sales:

This may seem like a self-explanatory category.  However, a marketing plan needs to be in place.  You should have a focused plan of attack to get your name out there and achieve successful sales.  Healthcare providers are inundated with marketing from providers.  You need to get your point across quickly and effectively let referral sources know what makes you different and better.

There Is No Need To Do This Alone:

We have only begun to give you some basic steps and they can seem overwhelming.  Let us help you do it.  We have been through this process countless times and helped agencies do it more efficiently while providing guidance and getting you prepared for survey.  Call Kenyon Homecare Consulting at 206-721-5091, or contact us online today for your free 30 minute consultation.

 

 

Category: Agency Startups & Diversification

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