Learn the basics of small business coverage and about the process of providing your employees with a health plan. Learn about health insurance.
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Whether you own a coffee shop, manufacturing operation, or retail store, you may have many of the same questions as other business owners. Find answers to common questions here. Explore FAQs. SHOP is an online marketplace where eligible employers can choose coverage for their employees, and their employees can shop for insurance. Find out how health insurance brokers work, and how they can help you compare options to find the best plan for your business. Learn more about brokers. See how personalized technology makes it easier for UnitedHealthcare members to manage cost, coverage and care. Read transcript.
Home Employers Small Business. Get health insurance for your small business UnitedHealthcare can help you build a healthy business Your employees are your greatest investment. For companies with 2 to 50 employees. For companies with 51 or more employees. Find a group plan. Flexible health coverage for small businesses Business owners have a lot of options for small business coverage. The convenience of home health care is for the patient, not the caregiver.
If you are the type of person who finds travel stressful, this may be something to consider before launching a home health care business. One of the reasons home health care has become so prevalent in the last decade is thanks in large part to technological advances that have allowed high-tech equipment to be used in the home.
Previously, this equipment was only accessible in a hospital or clinic. However, because so much of modern home health care relies on high-tech equipment, keeping up with the latest technology and managing this equipment is something that a business owner will have to be comfortable with. In other words, this is not the field to go into if you are a serious technophobe. A key advantage of providing health care in a hospital or clinic is that you have colleagues with whom to consult or otherwise ask for assistance.
Home health care providers almost exclusively work on their own, without that support network around. This type of work environment is something that one would need to be comfortable with in order to do the job successfully.
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Home health care is unique in many ways, but the one thing it has in common with every other new business venture is that a lack of adequate planning and forecasting is a sure way to undercut its potential success. Carol Byrne stresses the importance of business savvy in achieving long-term success. It requires a balance of skills. These include:.
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Providing top quality home health care requires sophisticated and expensive medical equipment. It is almost a given that your business will operate at a loss for the first three to six months while your client base grows and you get on a regular billing cycle with Medicare and Medicaid.
This means a carefully thought out cash flow management plan is required to ensure you can get through these key first few months. The greatest weapon you can have in your arsenal when it comes to raising capital is a bullet-proof analysis that yours is a great local market for this type of business, and that you can serve a need currently unmet by competitors. There is no question this is a growing industry on a national and global level; however, if your community is currently over-saturated with home health care businesses, you will have a hard time making it work.
Also, a strong competitive analysis will help direct you with marketing and recruitment strategies when you identify where others have fallen short in their attempts to penetrate the market. The home care license and operation requirements and standards will vary from state to state. The best way to make sure you have your bases covered is by contacting your State Department of Health for assistance. Unless you have an unorthodox business model, Medicare and Medicaid will be your primary source of revenue.
It is critically important that your business obtains all the proper Medicare and Medicaid certifications. In order to be eligible for Medicare coverage for home care services, the patient must meet the following criteria:. Some states will require a new home health care business owner to complete a state jurisprudence exam before granting a license to operate, so be sure to do additional research for your own state.
The best way to retain clients and get referrals for others is to build your reputation of providing top-quality professional medical services in a personable manner. This means finding the absolute best of the best to work for your company and serve as the face of the company at the front line level. Finding good staff is by far the greatest challenge a home care business will face.
If you are not a physician or medical professional yourself, your first hire will be a qualified clinical supervisor. It is a requirement of Medicare and most states that a physician or a registered nurse with more than one year of experience be in place as a clinical supervisor. Most states also require a certified administrator be in place, although this position can be doubled by the clinical supervisor if that person is certified for both roles.
When it comes to the front line service providers, there are two routes you can explore. If you have the resources starting off, you can simply hire your staff and keep them in-house. This will require a significant cash infusion from the start as your salary demands will outweigh your revenue in the first months of operation.
The other option is to contract the work out to another agency or association of professional physiotherapists, occupational therapists, or skilled nurses. The most common approach is to specialize with one or two in-house professionals skilled nurse and physiotherapist and contract out the other fields on an as-needed basis.
Be sure to conduct a thorough background check for all hires. Your business could be liable for crippling legal action if it is discovered there was a problem with the treatment delivered by someone who had been sanctioned or suspended for similar malpractice issues in a previous job. It should go without saying that this is more important in this field than most.
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This is where the home health care business starts to resemble many other businesses—success will depend on effective marketing strategies and some good, old-fashioned hustle. The following are some of the most effective strategies for recruiting clients for a new home health care business:. The website offers plenty of resources to help with questions of licensing, certification, staffing issues, and much more.
The HCAOA is the recognized resource for information and definition of private duty home care practice.
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