You might be interested in starting your own home health care agency as it is a rewarding business enterprise. According to a report by Small Business Administration (SBA), over 52% businesses in the United States are small ones. If you have skills and expertise required in managing a health care agency from your home then you should consider starting one. Home care health agencies are getting popular by the day as the number of old people is increasing too. There is a large number of old aged population in the United States that need home care. Therefore, you should consider starting a home care agency to meet the growing demands.
Before you start taking steps to start a health care agency at your home you should know the basic difference between the non-medical home care agency and the medical skilled home health agency. The services offered at a non-medical care health agency involve personal care of the old people, assisting them with their daily life activities, preparing meals for them, housekeeping them and transporting them from one place to another. The basic services offered at the non-medical care agency are to ensure that the persons are living a normal and comfortable life under a safe and healthy environment. On the contrary, the services involved in medical skilled home care agencies are related to medical functions. It involves rehab therapy services and skilled licensed nursing services that will be administered under the strict guidance of a physician. The person administering these medical services must follow the guidelines that have been set by the medical expert as any negligence at their part may prove to be fatal for them. If you intend to start a home care healthy agency then you should also apply for licenses and certifications.
If you are wondering how to start your own home health care agency then follow the steps below:
Step 1: Make decision on your business entity
Determine the type of business entity. You should at first make the decision about the type of business entity you want that will fit your needs. You have to decide whether you want a Sole Proprietorship business, a Partnership one or a Limited Liability Corporation (LLC). It is a good idea to talk to a Certified Public Accountant (CPA) or an attorney to determine the business entity type you should go for. It is also important to have all the required information about the appropriate business structure, business liability insurance, workers compensation, sales tax and payroll information among others.
Step 2: Acquire EIN
Obtain a Federal Employer Identification Number. You should apply for EIN from the Internal Revenue Service (IRS) for indentifying your business regarding tax liabilities. The EIN is similar to your personal social security number.
Step 3: Building your brand and Promote
Decide the name of your business. You should make a prudent decision while choosing a name for your home health care agency business. The name will have direct effect on your potential clients, so you should accordingly choose the one that will help you get famous. When you are choosing a name you might consider checking whether a domain name by your company name is available or not. It might be helpful in the future and is important for marketing purposes. When you have finalized the name of your business then get it registered with the Secretary of the State of your state. Get business cards, letterheads and brochures printed of your company and the services you offer.
Step 4: Apply for licenses
Apply for necessary licenses. Make sure to check on all the required licenses for running the business at your local city or county official website. You should then apply for all the licenses that are needed to run the home care health agency with ease.
Step 5: Prepare your capital
Prepare for financing options. Make sure to open a business account and apply for credit card if needed. If you need to meet start-up costs of the business then you may consider applying for business loans. Also make sure to set up a computerized accounting system that will help you to keep account of all your business financial activities.
Step 6: Work more on Marketing
Market your business. After you have completed all the legal procedures of starting a home health care agency then market your services. You should opt for different methods of marketing to let people know about your business existence so that they get your services.