If you are an entrepreneur that is looking to start your own business and also wants to make the world a better place in the process, then a business in healthcare is a no-brainer. People will always be getting sick so there is always a financial incentive. At the same time, this is a way to make money that also feels good since you are helping people with their healthcare needs.
And a home healthcare business is one of the many ways that you can do this. There are two different types, however and both have their uniqueness that needs to be understood so you can decide which direction to take.
You can start a non-medical healthcare business that helps elderly and disabled people improve their quality of life without any medical services rendered. Or, you can start a skilled version in which you will be doing medical treatments to help heal your patients.
In this article, I will go over the differences so you know where to start and can get on your way to success.
Understand the Business
The healthcare business is unlike any other that you can think of opening. Even a non-medical company requires some special understanding of how the industry works. In terms of regulations but also in terms of how to make a go of it to succeed.
It is highly recommended that you look into doing some research specific to the healthcare industry by finding a leadership buy-in for corporate training. This will give you the kind of insight into the industry so you understand it inside and out.
You’ll still have a lot to learn even afterward, but you will also give yourself a solid base on which to build that understanding.
When it comes to home healthcare in general, there is a good opportunity to find a niche within the industry since there is a need to alleviate the pressure on demands on hospitals and clinics. If you can find an efficient system that helps not only your patients but the system as a whole, then you will surely find a lot of success.
Non-medical vs Skilled
Non-medical healthcare businesses are just as needed as any medically skilled ones. Think about how many senior citizens or disabled people need rides to their doctor or other places. And not only do they need somebody to pick them up and drive them, but the vehicles need to be highly specialized and the drivers highly trained.
People with special needs are also living at home, usually alone and need some help from others. They probably don’t have any family and those that do may live far away from them. Delivering meals is a very important service that can be provided to people to help them maintain their independence. These people are less likely to end up in an assisted living facility that can be very costly.
Lastly, there is also the area of cleaning services that can be provided for people unable to care for themselves.
Skilled healthcare services are much more varied and involve much more training and expertise. These are things that range from physical therapy with a trained specialist, to home visiting nurses that do the job of providing medical services to patients in their home. This helps the patient and also the local hospitals and clinics.
Basically, these services can include anything that a doctor would provide in a clinical setting, just at home.
Certifications
Either type of home healthcare service you decide on is going to require a lot of certifications specific to the area that you plan to operate in. You may need a National Provider Identifier number or some other operating code for the specific system you plan to operate. Make sure that your staff also has all the necessary certification: a renewed PALS for the medical staff, etc.
Not only that, but getting Medicare or Medicaid accreditation is hugely important. Many of the people that need help the most will be on one of those systems and that is how you will be getting paid. Since this is likely to be your primary revenue, it should be the one thing that happens first and is reviewed from time to time to make sure you stay within the regulations put forth by the government.
The Structure
Try to remember that your product is your staff and how you structure your business is going to depend heavily on them. You’ll need to have a good working relationship all the way down the structural line from management to the staff at the forefront of your business.
You must be logged in to post a comment.