Starting a Home Health care Agency

Are you stuck on starting your home health care agency? Because you have no idea how much money it’ll take? Watch this video to find out the financial formula I’ve created for starting your own agency and for the best business advice on Starting or scaling your hom e health care agency.
Subscribe to my channel and hit the bell to be notified when I post a new video every Monday, and if you really want to start or scale your home health care agency and have no idea where to begin – Watch this video and at the end you’ll have a formula that can be your go-to formula for starting your agency. I’ve proven this formula by creating and scaling my own successful 8 figure agency; and now it’s your turn.
The questions you need to consider before starting home health care agency
I See posts and I’m constantly asked how much do I need to start my own home health care agency, And my answer is, it all just depends. Now, I know you’d rather have a rough number, but here is my estimate of a formula. The questions you need to consider are number:
1: Are you starting a medical agency or a Non-medical agency? if your agency is medical, your costs are going to be higher than if it’s non-medical
2. Are you a clinician? Are you going to be able to provide the services for your patients while you’re waiting for your agency’s state survey? You’ll have to have a minimum number of patients on service while you wait. So if you aren’t a clinician and you’re starting a medical agency – Your costs are gonna be higher because you’re going to have to pay for therapists or a nurse to provide those medical services.
Comment below with what questions you have about start-up costs for your agency.
3: How long are state surveys taking in your area? If you call your state office and kill them with kindness; they’ll possibly tell you how long it’s taking to run state surveys. That way you can estimate your cost. So if they report the survey process is about six months out, you will need Operational expenses for probably, I would guess, six to nine months.
4 :How many patients will you have on service at the time of your survey? The Center for Medicare and Medicaid Services and your state will require that you actively be seeing a specific number of patients, usually about ten, per their physicians orders. Find out how many patients you’ll provide services, at a minimum Until your licensed, I would suggest you only provide care for the minimum number of patients that you can.
Other factors you need to consider
And some other factors you’ll need to consider are:
Number one Will you be paying rent? Are you going to be operating out of your home? Two, how much are you marketing?
Three, do you already have all the office supplies you’ll need?
Comment below to let me know where you are in the process and what questions you have, So let’s just take it for instance; This is just a scenario, but you can fill in your own blanks. Let’s say the survey takes about six months you have to have ten patients on service and you’re starting a medical agency providing therapy services and you’re not a clinician and Therapists are reimbursed about fifty dollars an hour and you’re asking for your clients to be seen twice a week.
You would take six months and you would find six months is equivalent to twenty six weeks and Ten patients twice a week is equivalent to twenty visits a week twenty six weeks times twenty visits is equivalent to five hundred twenty visits conducted in just a six month period and five hundred and twenty visits times fifty dollars is equivalent to twenty six thousand dollars in payroll for a six-month period.
So you would really need a minimum of twenty six thousand dollars Just for this scenario, now you know a rough formula for starting your business and If you need help on starting your own agency, I’ve written a guide right here It’s this two-page startup guide to help you along the steps of the process and the link is below If this video was helpful to you, please let me know by liking it below Subscribe and share it with your colleagues and comment below with helpful if this video helped you out I’m Cortney and I’ll see you next week.
Source: Youtube

About Uduakobong David

....Comment below

%d bloggers like this: