Opportunities to start a home health care business continue to grow due to the elderly population and preference of most retired Americans to be cared for in their homes. Starting a home health care business to meet this great demand for home care and home health care services is both rewarding and profitable.
In a May 7, 2012 article, USA Today News said that the home health care business is one of the top five most profitable businesses in the United States. The article also cited high owner satisfaction and nearly immediate returns on investments made in the home health care business with newer home health care agencies typically averaging 12% to 15% in net profits and an average annual revenue of $248,000. Thanks to high demand, the low overhead and respectable return on investment, home health care, specifically for senior care, is prospering.
A home health care business offers services to the disabled and elderly population. The home health care business will go to the patient’s home to provide home care or home health care services.
Initially, it is very important to understand the distinction between starting a skilled home health care business versus a non-medical home care business.
A skilled home health care business will administer skilled, licensed nursing and rehab therapy services under physician’s orders with strict guidelines imposed. A skilled home health care business will require extensive licensure that could include home care certification or Medicare certification and accreditation. Our home health care consultants will get your home health care business home care certified or Medicare certified and accredited to bill Medicare, Medicaid and private insurance companies.
A non-medical home care business will offer personal care and companion care services. Companion care services offer assistance with daily living activities, meal preparation, housekeeping and transportation. Personal care services are similar to companion care services, but you can also touch your client, changing diapers, bathing and performing other hands on activities. Such services are often vital for folks to remain safe and comfortable in their homes. Private pay rather than 3rd party billing sources are the most common form of payment for non-medical home care agency, although, may find opportunity billing Medicaid and other state programs as well as long term care insurance companies. A non-medical home care license will typically allow you to take part in Medicaid programs in your state. When a home care license is not required, our home care consultants will guide you through home care certification using the CHAP accrediting body which will then allow you to take part in your states Medicaid programs. CHAP accreditation may also be required to take part in Medicaid programs even in those States that do require a license. Medicare certification and accreditation is not available to a non-medical home care. If you do wish to bill medicare, please ask our home health care consultants how you can become a licensed home health care agency and what is required for chap accreditation.
Our home health care consultants include a mix of healthcare professionals with over one hundred and forty years of home health care business management experience. This includes former Senior CHAP accreditation and JCAHO Joint Commission accreditation site surveyors.
Ask how 100% of our home care and home health care agencies have achieved State licensure, home care certification or Medicare certification and CHAP accreditation by allowing us to guide and consult them through the home care certification or Medicare certification and accreditation process using the CHAP accrediting body.