Want to start your own home health agency? Here are some things you need to think about: Why do you want to get into this business? Is it for love or money, or both? Where will you locate your agency? What is your competition? Does your state require licensing and where do you go to find out? So many questions and who can you ask?
Investing in a business can be expensive. It is estimated that to start up a non-skilled private pay agency could cost anywhere from $45,000 to $60,000, and much more for a Medicare agency which could run as high as $200,000. Finally, there is the time and commitment to the business. To be successful you need to be able to fully commit to the new venture.
For more on starting up a home health business click here.
Major breakthroughs and changes in medicine and health care occurred in 2010; some will have profound effects on the home health, hospice and home care industry. Since we care for clients/patients who are affected by these changes, it is important to be aware of the latest trends and issues facing our patients and individual practices. Here is a brief overview:
To begin with, the national healthcare system overhaul is the most extensive since 1965.
• The program expands the number of people able to buy health insurance through subsidization. It also penalizes those who refuse to carry health care insurance and limits the cases for which insurance companies can deny coverage.
• All providers of health care will eventually be compensated on the quality of health care provided. It also bars copayments by insurance companies for preventative health services.
• Children can be carried by their parents until age 25.
• Increases in insurance premiums must be substantiated with data. Additionally, 85% of all premiums paid MUST be used for care and cannot be used for executive compensation or bonuses. Continue reading “A Year of Changes in Health Care. Let’s Hear It for Chocolate!” »
