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Tips For Starting a Home Healthcare Business

The aging population growth and the preference of many older people to remain in their homes around familiar surroundings is one reason why home health care businesses will be growing in the years to come. Starting a home health care business requires research on the industry as well as state and local regulations, but it can be a financially rewarding business.

Below are several steps that have to be thoroughly researched and explored, but if done correctly will help you when starting a home health care business:

  1. Review local home health care business regulations – each state will have rules and regulations regarding starting home health care businesses. Check with the local state department to determine which agency handles those regulations and request information. This is important to ensure that the business is meeting licensing and regulatory requirements from the first day of operations.
  2. Determine services provided – researching the types of home care services to be provided can help determine if there is a need for those services. Research other local home care agencies to determine the services being offered. Developing a special niche of services will set the home business apart from the competitors, such as offering medical services if the competition only provides non-medical care.
  3. Decide on the type of business entity – the business can be a sole proprietor, corporation, limited liability corporation, or partnership. It is best to consult with an attorney and tax accountant about which entity works best relative to tax liability, payroll, sales tax, worker’s compensation and business liability.
  4. Obtain a business license – each business must have an Employee Identification Number (EIN) from the federal government. This number is easily obtained online, or by calling the IRS, and does not cost money. This number is like the business’ social security number for tax and liability purposes. Protect the number the same as a social security number.
  5. Determine hours of business operation – will the home health care agency operation around-the-clock, or only specific hours of the day? This is where understanding the competition in the area can help with developing a niche that differentiates the business from competitors. If most home health care companies only provide daytime services, offering nighttime services can mean getting more business from customers who require evening or overnight care.
  6. Develop employee requirements and job descriptions – if offering non-medical services only, the skills required by employees will be different than a home health care business that offers medical services. Finding quality, dependable employees can be a major part of operating a home health care business. Contact local CNA (certified nursing assistant) schools, as well as nursing or other health care training schools to determine availability of competent graduates on an on-going basis. Marketing a skilled, trained staff will solidify the reputation of the business. Developing long-term relationships with training schools and agencies will generate a supply of available qualified, licensed staff. All staff should be required to pass federal criminal background checks and random drug testing.
  7. Obtain liability insurance – it is very important to have full liability insurance when operating a home health care business. Consult a licensed insurance agency to make sure that the insurance protects the owner, employees, and business from liability.
  8. Apply for Medicaid and Medicare acceptance, as well as private insurance – many insurance companies are paying for home care services in lieu of expensive hospital or nursing home care. Applying and meeting the guidelines of all insurers will result in a wider range of eligible patients, as well as a reliable stream of income.
  9. Determine minimum start-up costs, and work with local business start-up agencies to develop a business plan that will result in obtaining loans and funding for starting a home health care business. A business plan is not only for submitting to banks for funding, but will also serve as the guiding principles for the home health care business.

The Best Online Home Based Business Opportunities

There’s always been a market for business opportunities for as far back as I can remember. And I’m sure if you asked your parents and even your grandparents they’d be able to tell you stories of people selling online home based business opportunities from the back pages of newspapers since the first newspapers went into mass production.

The arrival of the Internet was like a new gold rush for the folks selling business opps to people. Not only did they now have a massive audience but also they could reach millions of people all over the world without paying the extortionate advertising costs they were used to.

The problem was that most of what was touted as online business opportunities in those early days of the Internet were just hollow scams that never delivered the goods. And it left a lot of early online entrepreneurs with a sour taste in their mouth – some people were put off the idea of having their own online business forever.

And that’s a real shame because the reality is that you can earn an honest and healthy income from any number of different online business opportunities. There are plenty of legitimate online home based businesses that you can become involved in for little or no financial investment required up front. The problem is that the real opportunities get buried behind the glitzy offers that promise you untold riches for little or no work.

So What Types of Online Business Opportunities are There?

1. Affiliate Marketing

This is a popular opp as it’s never failed to generate results for people who learn the basics and then work very hard towards their financial goals. There are plenty of affiliate marketers who have gone from $0 per day when they started to $500 per day within 12 months. Affiliate marketing isn’t hard to learn and it’s a completely legitimate and honest way to earn a living online.

2. Information Products

Another extremely popular online business is creating and selling info products or eBooks online through vendors like ClickBank. There is a growing demand for digital products on pretty much any topic you can imagine – from raising tropical fish to reviving your relationship with your ex. And again this is a business model where you can go from earning $0 per day to earning several hundred dollars per day in a year or less.

Just remember one thing when you’re considering a variety of Internet home based business opportunities that there’s one very important word you need to focus on – “business”. Because working online means you’re running a business and you need to behave like that and plan out how you want your business to develop. Too many people approach an online business as if it’s not a real business and they tend to be the people who struggle the most, produce the most disappointing results and quit after 6 months. And left asking themselves, I wonder how that happened?

Meanwhile their buddy who stuck with it and worked hard is now enjoying financial independence.