HOME HEALTHCARE BUSINESS PLAN SAMPLE TEMPLATE
Do you feel that you have great experience in dealing with patients? If yes, then you should consider starting a home care business for the elderly. Providing home health care service has a lot of profit in it but it is not a job for everyone.
For you to successfully set up a home health care business, there will be a need for you to gain licenses from your city, state and country agencies that you wish to operate in. You will also need to invest in equipment and employees, especially when you do not have a deep background in healthcare.
Understanding the sense of responsibility and liability that accompanies starting a healthcare business is also important. In this article, you will learn how to successfully start a home health care business.
1. Write your Home Care Business Plan
A business plan is very important for any business, and a home health care business is no exception. When you are about to write out the business plan, completely detail the structure of the business, financial needs and forecast, marketing strategy and growth plan for about 5-6 years.
Your business plan has to be very detailed and feasible. This is because running a home health care business requires a lot of expensive high-tech equipment, so you might need to get a loan. Getting a loan will definitely be difficult without a good business plan.
2. Market Research
Before you decide where to set up your home health care business, you need to make a market research and understand where the need for your service is needed the most. It would be unwise to start up our business without carrying out this research because the location is important when starting up this business.
3. Licensing and Certification
Running a home health care business can be likened to running a mini hospital. So, you will need licenses and certification as per the area or city that you are living in. A lot of paperwork is involved, sometimes you might even write an exam.
You also might be required to have a state board of health permit. Your business also has to be incorporated. You will also need to have hospital and medical insurance documents.
Note that the processes vary depending on the area that you are about to start the home health care business in.
4. Staffing and Hiring
In other businesses, your staff help to promote the product that you are selling, in-home health care business, however, your staff is the product. How? Your staff is the ones providing the service that is needed. How your staff relates to your patients can either make your business grow or not.
Since you want your business to grow you need to hire the best your budget can afford. If you are not a health professional, then it is very important that you hire one, especially one that has experience of over 2 years. You also need to hire nurses, drivers, and cleaners among others.
You could use health agencies when looking for staff to employ. Be careful however of the people you employ. Run background checks on them so as to confirm that they really are who they say they are. It would be bad for your business to hire someone who has been suspended or sanctioned for malpractice on a previous job.
5. Marketing Strategy
Almost everything is now in place. All you need now are your first clients. There are a number of strategies that you could use to make people start patronizing your services.
- You Could Build a Website
This is one good strategy used these days to market any business. Although your prospective clients themselves may not know their way around the computer, their children certainly do. Setting up a website will make you visible to them. On the website, be sure to include your contact information and other information that will make them attracted to you.
- Partner with Hospitals
This is another effective marketing strategy you can use to get patients for your home healthcare business. Partnering with hospitals can greatly increase your exposure. When doctors have patients that need a particular service that you provide, they can easily refer these patients to you.
- Attend Conferences and Trade Events
Attending conferences and trade events can also help get your home healthcare business services out. Before or after any conferences or trade events, you should be able to network with participants and exchange business card. You should never underestimate the power of conference meetings.
- Television/Radio Advertising
If you have a fat budget, you could decide to pay for your advertisement to play on the television or on the radio. This is also a sure way of getting your you clients.
6. Have Excellent Customer Service
The key word here is ‘Excellent’. It is one thing for your clients to come around once, it is another for them to come again and again. Excellent customer service will help you to make this happen. Your clients want to be well taken care of, you need to provide that, and even extra.
Your excellent customer service might even make them tell others about your business. If done well, this can give your business positive results and get your business name out there.
Running a successful home healthcare business is not easy, it requires money, patience, and hard work. Be conscious of the need of your clients and also the regulations of the area that you are living in.
If you are looking for a sample medical home care business plan template, here is a business plan for starting a medical home care agency.
MEDICAL SENIOR HOME CARE BUSINESS PLAN
Medical home care business is a health business that deals with offering healthcare service especially to senior citizens, and on special cases or during an emergency they open the service for anyone.
In this article, I present to you a sample medical healthcare business plan that can be consulted when planning to start the business, and at the end of our discussion, you should be set to start your own medical healthcare service.
BUSINESS NAME: SKYWALK MEDICAL HOME
- Executive Summary
- Our Product and Services
- Vision Statement
- Business Structure
- Mission Statement
- Market Analysis
- Sales and Marketing Strategy
- Financial Plan
- Competitive Advantage
Skywalk medical home is a business that is fully registered and has fulfilled all the legal requirements for starting a business in Los Angeles, United States of America. Our business will do all in its power to deliver the best medical service for people.
Tyler Brown and John Stone will both be the owner and manager of Skywalk medical home, located in Los Angeles, United State of America. At the moment, they have been able to amass a total of $2,000,000 from their personal savings and sales of some of their properties, they will be looking forward to getting a loan of $2,000,000 to complete the startup fund amounting to $4,000,000.
Our Product and Services
Skywalk medical home is in the medical business to provide the best service for all individuals. Our services are not time-based and we will only be attending to patients who are duly registered. Our headquarter will be located in Los Angeles in the United States of America.
Our vision in the medical industry is to become a standard medical home care who will give perfect health care services to everyone; we are looking forward to making our business a household name in the next three years.
Skywalk medical home mission in the healthcare industry is to become a very reputable and important tool in dispensing the best healthcare service for our clients. We are hoping to build a business that will benefit everyone who needs basic health care.
Our business owners know the importance of their structure and staffing as a function of success to their business. We are looking forward to taking our recruitment seriously and make sure we acquire the best heads in the healthcare industry to deliver the best services, the positions to be filled include:
- Manager (CEO and Owners)
- Doctors (2)
- Health record personnel
- Nurses (6)
- Attendant (6)
- Security personnel
One notable trend in the medical industry involves only those who have the best workers who attend to patients in a tender, loving and caring way as the best in the industry. Pricing for their treatments also defines how successful a business will be if affordable people will come, if not they won’t see them as an option.
Below are some of our identified target markets:
- Old Ones
- Individual and households.
Sales and Marketing Strategy
Sales and marketing strategy is one factor that also defines the success of any business in the healthcare industry, Skywalk is so much aware of this fact and we have made plans to market our self the best way by recruiting the best marketing agent available, other plans include:
- Sending a letter of introduction to industry and offices and distribution of fliers and business cards.
- Advertising our services on popular news media like television stations, radio stations, newspaper, and magazine.
- Using the internet to inform people about our business especially the social media platform.
- We will make use of banners and posters to broadcast our business.
- Listing our business on the yellow pages.
Source of Startup capital
Skywalk medical home is in the business to offer the best service for their clients. But to start any business, money is definitely needed. Tyler Brown and John Stone has made plans to raise needed funds to start their business, as of present they have amassed a total of $2,000,000 from their personal savings and sales of some of their properties, they will also be looking forward to get a loan of $2,000,000 to complete the startup fund amounting to US $4,000,000.
Although we are new in the home healthcare industry, we are not going to turn our self into kids for others to play with, we will be taking a leaf from our predecessors on ways to run our business and we will compete with them reasonably to help us deliver the best service.
In this article, we have discussed in details all that is needed to start a medical healthcare service. The business is named Skywalk medical home and it is owned by Tyler Brown and John Stone who have both been involved in some business prior to this.