Your home healthcare business was easy enough when it was just you. You chose your clients, managed your own paperwork and things obviously went well because now you have more business than you can handle and it is time to expand. Or maybe you’re tired of the solopreneur life and want to bring on more clients and maybe a few employees to help manage the workload. How do you do that without getting distracted and dropping the ball on the work you already have on your plate? Here are a few tips:
Ask for Help
For some reason, we’re a society of “I can do it myself-ers.” Here’s an uncomfortable truth: doing everything all by yourself is the fastest way to burn out. If you want to expand your business properly, you’re going to need some help. You’ll want to hire an accountant and a payroll professional, for example, to make sure that you’re paying your employees properly and that your taxes are done correctly. And, as Kelly Services says on their website, “Demand for healthcare staffing will continue to escalate” and keeping up with that demand is a full time job. This is why it’s a good idea to work with a recruiter or agency to find the staff you need.
Expand Your Insurance Base
One of the hardest things to do, from a patient’s perspective, isn’t just finding an insurance policy that will cover home care, it is finding a home care provider that will work with the insurance you do manage to get set up. It makes sense then, from the provider’s perspective, to work with as many insurers as possible. The more networks to which you are added, the larger your prospective client base will be.
Of course, the process of setting yourself up to take certain insurance policies can be difficult. Some might want exclusivity. Others will want you to run your course of care through them for approval. Take the time to research each network you want to join to make sure you can retain the freedom you need. It’s also a good idea to work with a lawyer here to make sure that your practice is properly set up in accordance to HIPAA laws.
Take on the Uninsured
Let’s be real. Many of your patients are going to be senior citizens who are on Medicare or other limited insurance policies. It’s a good idea, in addition to making sure your care is covered by as many providers as possible, to have a plan in place for those whose insurance doesn’t cover your services or who are uninsured altogether. Talk to the medical licensing boards in your state to ask how to do this in keeping with your local and the federal laws in place that govern how doctors deal with patients whose insurance is lacking or non-existent.
Expand Your Services
One technique that many home care agencies are doing now to increase their client base is to expand the services they offer. In addition to having medical staff to see to a patient’s medical and hygiene needs, it could be a good idea to add in domestic staff as well to help with tasks like light housekeeping and meal prep, transportation and even simple companionship. Often patients will have to work with separate agencies and providers to meet all of their needs. By offering everything under one “roof” you can bring on more clients and expand your business’s profit margins.
The simple fact is that you got into this business because you wanted to help people. You wanted to be able to help as many people as possible. Going it alone will make it difficult for you to care for more than a few patients at a time and as you grow popular (or wish to expand your business) you’re going to need systems in place to accommodate your growing demand. Use the tips in this article to get started on growing your healthcare business.
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