Read about the Senior Care Franchise Industry and Franchise Business News
Marketing a Home Health Care Business
Home health care business needs two things to be successful. a good consumer marketing plan and a good referral marketing plan. in my 20 years of helping people make their dreams of owning a business come true I find the “most terrifying part” is the marketing for most.But all franchise companies realize that this is the biggest fear of new owners, and for that reason focus on marketing during their training both in the classroom and in the field.
Consumer marketing for a home health care business is marketing directly aimed at potential clients. the goal is to let people know that your business exists and brand awareness. you don’t try and educate the consumer with your consumer marketing. The consumer is bombarded with thousands of messages a day, so consumer marketing should be able to .2 a website or a brochure something which gives the potential client more information about your company.
Some examples of consumer marketing are newspaper ads, TV ads, radio ads, billboards, a sign on your car door, your website and SEO (search engine optimization), speaking at senior events or attending health fairs, and having a listing on a consumer outreach website, like a franchise website
Depending on your location and your business goals, some consumer marketing methods may work better than others, but there are some methods that seem to work better than others for most home care businesses. According to the “2014 Private Duty Benchmarking Study,” an annual study of the home care industry conducted by Home Care Pulse, the top consumer marketing method is SEO, which refers to methods used to help consumers find your business online. We will discuss this method and other top consumer marketing methods later this month.
Referral marketing is making contact with those individuals who come into contact with potential families trying to solve the problems of taking care of their aging parents. people like Elder Care attorneys, elder care physicians, case workers at hospitals, discharge nurses at hospitals and social workers are a very big resource when it comes to families that need to find a caregiver. And a home health care business you’re constantly building this network of referral sources and educating them on your business. You do this by stopping by to see these people and leaving behind your brochures. It doesn’t hurt to take a long a box of donuts or a small bouquet of flowers. Something to make you stand out from the competition.
According the “2014 Private Duty Benchmarking Study,” the top referral marketing source for home care businesses is current and past clients. Customer service is not always viewed as a marketing opportunity, but in reality your clients should be so happy with your services that they want to recommend your company to everyone they know. Even after they’ve stopped needing your services, they will keep recommending your company to their family and friends if their experience warrants it.
Referrals can also come from those who work closest with seniors, including healthcare professionals, hospital discharge planners, hospice employees, state agencies, etc. The point is to network and build professional relationships with these sources, so they are familiar with your business and the services you provide. When these professionals know and trust your company, they will be more likely to refer potential clients to you.
Home Health Franchises – Home Health Franchises Make Money
Artificial Intelligence for Home Health Franchises in Texas
Men and women who are dealing with chronic diseases struggle at times for a wide range of reasons. Senscio Systems has been working on an artificial intelligence that would assist these individuals and help them better manage care more proactively, which can provide them an opportunity to live independently from home.
According to Markets Insider, in a press release from November 14 titled, Senscio Systems Awarded U.S. Patent for Pioneering Artificial Intelligence for Home Healthcare:
”This AI framework is extraordinary in that it functions like the human brain and employs a semantic model to create knowledge,” explained Dr. Piali De, CEO, Senscio Systems. “The artificial intelligence harnesses thousands of data points from within the patient’s home and generates insights that identify and prevent gaps in care, reducing the burden on physicians and transforming patient outcomes.”
The main focus on this artificial intelligence is for the flagship digital health solution Senscio Systems calls Ibis™. This platform will essentially observe and analyze thousands of points of data throughout the day, including about the home environment, behaviors, biometric readings, and much more. It will then determine when there might be changes in behavior or the individual’s health and, if it notes a predetermined issue that needs to be addressed, it will notify either the patient, a caregiver, or care provider (or all three).
This new artificial intelligence will also make recommendations about clinical or behavioral interventions that could be made and this, it is believed, will reduce hospitalizations and even the need for more direct, acute medical care.
Dr. De went on to add: “In the next five years we will see technology start to transform how we care for people in the home and artificial intelligence is poised to become an integral part of home health care. Ibis not only functions as a member of the patient’s care team, it augments the intelligence of patients and caregivers with artificial, cognitive assistance.”
Ibis™ is currently being used by 350 patients who have been dealing with a wide range of health-related issues, including COPD, hypertension, CHF, diabetes, depression, and anxiety disorders. It has logged over 50,000 ‘patient days’ and offered over 1 million
Learn who the top franchises are. Visit the Top 10 Senior Care Franchises website. http://top10seniorcarefranchises.com to learn more about the home healthcare business.
Home Health Care and CVS Merger
Home Health Care and CVS Merger. When CVS announced its intention to purchase insurance giant Aetna for $69 billion, it sent shockwaves throughout the healthcare sector. Combining an insurance company with the pharmaceutical industry could have far-reaching ramifications. This isn’t the only deal potentially in the works, though, with Humana also in talks to acquire Kindred Healthcare and the impact on home care services could be significant.
Kindred Healthcare also maintains a large network of home care and hospice services throughout many states across the country. This merger would provide Humana a solid foundation of acute care from hospitals to home care and hospice.
As reported by CNBC in the Reuters-based article, Humana in talks to buy Kindred Healthcare with equity firms: Source:
“Humana has been investing significantly in its home health capabilities, Humana At Home, which the insurer touts as a compliment to its Medicare Advantage franchise. If the negotiations are successful, a deal could come as early as this week, the source said, asking not to be identified because the matter is confidential.
The Wall Street Journal, which first reported on the talks, said the deal could value Kindred at $9 per share. On Friday, the company’s stock closed at $8.60, giving it a market value of $750 million.”
After the federal government blocked two major potential mergers for health insurance companies, there has been a vested interest to push and find other ways to expand and grow. That appears to be leading some to focus on acute care, as is the case in this merger deal. Some argue that allowing health insurance companies to ultimately control a large portion of home health services and hospice care, it may limit options for those who are in need of these services, most notably aging and disabled adults across the country.
Advocates for these types of mergers, though, point out that consolidation can help to improve access to these services and lower costs. While the vast majority of men and women who ultimately rely on home care receive support through Medicaid for these services, that is only a short-term option. People who require longer-term care may have to rely on personal insurance plans or pay out of pocket.
It’s unclear how a merger such as this would affect the cost of in-home or hospice care, but with these recent developments, the home care industry is going to be facing new challenges in the years ahead. There’s been no word yet whether the federal government would approve a merger such as this.
Learn who the top franchises are. Visit the Top 10 Senior Care Franchises website. http://top10seniorcarefranchises.com to learn more about the home health care business.
One Question To Ask Home Care Franchise Care Givers-One question explores a different facet of job candidates
Fast Company online (12/14)Read More
NEWS ADVERTISING RESOURCES JOBS EVENTS ComForCare Taps Seasoned Franchise Executive for CEO Post By Carlo Calma | January 4, 2018 As the founder and former CEO of printing and marketing services company PostNet, franchising veteran Steven Greenbaum thought he knew all the ins-and-outs of his company when he agreed to be featured on the CBS reality show “Undercover Boss.” “I really went into that experience thinking I knew a lot about our owners, about the franchise system,” Greenbaum told Home Health C
A Home Health Business – How To Get A Unsecured Loan
Unsecured Business Loan for Home Health Business
A Home Health Business – How To Get A Unsecured Loan.There is a lot of talk about a lot of different financing options for SBA loans to roll over for business startups and even portfolio. But one we haven’t talked about is unsecured loans. Now lots of entrepreneurs across the country are utilizing unsecured loans as a way to capitalize a small business or franchise because it allows them to gain access to capital without using their personal assets as collateral for the loan. Instead, banks look at the creditworthiness as the deciding factor and it’s very fast for individuals that are running up against a particular timeline. They appreciate the unsecured loan because you can secure it in less than three weeks. Now you can think about it more like a small business credit card using multiple lines of revolving credit. You can put together $25,000 to $250,000 for your small business and there’s no use of proceeds requirement. So you can use it for any ordinary or necessary business expense.
But it’s important to note that because the bank is not taking your personal assets as collateral that there probably will be a larger interest rate assigned to that loan. Now, what does it take to qualify? So if you have a credit score above 690, if you utilize less than 50% of your existing revolving limit, if you had less than 2 increase on your credit in the last six months and no derogatory credit in the last six years, you could apply what we approve for this type of loan. So if you think that this particular option is an attractive one, one that may come with a higher interest rate but doesn’t use your personal assets as collateral.
Check out your finance options with our free no obligation calculator Click Here to get started
Reasons To Start A Senior Care Franchise
Three Reasons to Start a Senior Assistance Services Franchise
According to the Administration on Aging, as of 2009 there were 39.6 million people in the US aged 65 or older, which represented 12.9 percent of the population at that time. These numbers are expected to increase dramatically by 2030, to around 72.1 million. The growing demographic of seniors in this country translates to a growing need for senior assistance services.
There are many reasons to consider starting a senior care services franchise. Here we discuss a few:
Fulfilling a Growing Need — With the aging Baby Boomer population, the number of elderly folks in the US is expected to double over the next 15 years, which will dramatically increase demand for in-home assistance. Many seniors would prefer to stay in their homes and maintain as much independence as possible, rather than live in an assisted living facility. By starting an in-home assistance franchise, you will be fulfilling a growing need in this country.
Doing Meaningful Work — A growing number of seniors will need both non-medical and in the coming years and decades. By starting a senior care franchise you’ll make a real difference in the lives of hundreds, perhaps thousands, of seniors who will need help with daily activities.
Working in a Recession-Resistant Market — Unlike many consumer products that people often go without during times of recession, medical and living assistance are essential services. Considering the fact that seniors are the fastest growing segment of the population, and considering the numbers of seniors who will require assistance in the coming years, elder care services is considered to be a recession-proof industry.
As with starting any business, there are many considerations, and careful planning is required in order to be successful. If starting an assisted living franchise appeals to you, visit our website Top10SeniorCareFranchises.com. Learn more on our website.
Successful Executive Care Franchise
Strong entrepreneurial skills help home healthcare companies. The Savoie family does not know entrepreneurship. Michael Savoie, the owner of Executive Home Care, Stratford, Connecticut, was also a former owner of Stella’s Italian Restaurant, which received attention at Food Network’s “impossible restaurant”.
With his mother and sister, and after 27 years in the hospitality industry, Michael found a need for home care. The three chose this new initiative and opened Executive Home Care in October 2014.
Due to their success in the first three years of operation, they have now opened a new site in Norwalk. Satellite activity started October 1st. The Savoies received the Top Business Employer Award in 2017 from Hearst Media.
According to the blog, Stratford Restaurateurs Find Second Careers In Home Health Care Business,written by Jeanne Muchnick and published by Stratford Daily Voice:
“More and more people are realizing that home-based care can be a better option for them or a loved one than moving to a nursing home or other kind of senior center,” he said. said, Michael. Savoie].
“At Executive Care, we provide outpatient care services and tailor our care to individual needs.”
Services range from support and support to meal preparation and housework to help with bathing, personal hygiene, and personal hygiene. Executive Care also serves people recovering from illness, injury or surgery.
While there is a significant difference between running a restaurant and a home-care agency, Michael points out that the common denominator is looking after clerks. By treating employees more like family, this helps to build trust and is an integral part of business success.
He also believes that it is important not to set our aging population aside, but to worship and appreciate them. The only regret is that they were not previously invested in the home-care sector.
Headquartered in Hackensack, New Jersey, Executive Care is a franchised enterprise. The Savoie family has built a solid foundation and supports an aging population in the Stratford and now Norwalk areas of Connecticut. For those with an entrepreneurial spirit and a genuine desire to help the needy, home-based care is a great opportunity and demand continues to grow as the population ages throughout the country.
Is Executive the right franchise for you? Contact us at Top 10 Senior Care Franchise for a FREE evaluation and report of the best franchises for your skill-sets and budget.
Starting Cost Tax Deductions – How to Cancel Start Business Costs
Has your company incurred costs before it was technically “open to business”? Did you know that you can cancel some of these costs in relation to your company as soon as it is operational?
Read on for tips and information about how you can deduct start-up costs, as well as tips if you do not want to immediately claim these deductibles.
What are the deductible start-up costs?
1) The IRS defines “start-up costs” as deductible investment expenditures used for payment:1) The cost of “determining the acquisition or acquisition of an active enterprise or business”. This includes the costs of market control, product analysis, job offers, visits to potential commercial space and similar expenses.
2) The costs of a company are operational (before opening the doors or income). This includes employee training and salaries, consultancy fees, advertising and travel expenses related to the search for suppliers, distributors and customers.
These costs can only be claimed if your research and preparation culminate in the formation of a successful company. The IRS has more information on how to fix the cost if you are not entering the business.
You will notice that computer purchases are not listed here. It is very likely that he bought material before he opened his business. However, they are not considered start-up costs and can be amortized by amortization with different rules for different assets. Get more information from the IRS about depreciation.
Other domestic deductions – Organizational costs
If you decide to enter or organize as a business while you are still creating your business, you can deduct or amortize certain costs. These include the cost of start-up costs and legal fees, the organizational meetings and the provisional salaries of the directors. The association’s deductibles include legal, accounting and presentation costs in connection with the development of the Association Agreement. These costs must be incurred before the end of the first financial year. They must also be debited to a capital account and depreciated over the duration of the transaction. Learn more about requirements and exclusions on IRS.gov.
How much can you deduct?
If you started your business in 2011, had start-up costs of $ 50,000 or less, and incurred start-up and / or organizational costs after October 22, 2004, you can deduct up to $ 5,000 in deduct on your income tax return. 2011. If the start-up costs exceed $ 50,000, the $ 5,000 deduction for the first year will be reduced in dollars per dollar as long as your spending has exceeded $ 50,000. In addition, if your start-up costs more than $ 55,000 or more, you will not be able to claim the $ 5,000 deduction for the first year.
For example, if the initial cost is $ 51,000, the deduction is reduced to $ 4,000. If the initial cost is $ 55,000 or more, the $ 5,000 deduction will be completely eliminated. Learn more about IRS.gov.
What is the start-up phase?
What is an initial cost compared to a conventional operation? Basically, you are in startup mode during the development and planning phase of your company. As soon as you are active (whether for business or transactions), your costs are considered to be the expenses of an operator.
How can the trigger be claimed?
The tax law required that you proactively charge the start-up costs if you have processed your income tax return. However, in August 2011, you published a new tax law, which automatically assumes that you will choose if you have the right to do so. If you forget to claim this deduction in a previous year, talk to your accountant about how you can offset the lost deductions.
Keep good records!
Make sure you have good records from the beginning and save your deduction claims for expenses. SBA provides the following guide, which includes tax registration tips.
Talk to your accountant before the start-up deduction
You can see from these examples that if your start-up costs exceed $ 50,000, your deductible will be reduced and completely eliminated if it exceeds $ 55,000. It is not.
Learn who the top franchises are. Visit the Top 10 Senior Care Franchises website. to learn more about the home health care business.
Technology And Home Care Business
TeleHealth is a new fast-growing business. And with the passage of the Affordable Care Act it was thought that millions of Americans who previously had no health care coverage would become interested in receiving better health care and home health care. However, to provide for millions of people to have medical coverage much of the funding was taken from that Medicaid program. In the Home Care Medicaid payments suffered some of those cutbacks. So more affordable solutions had to be developed.
Many technology companies saw the vast opportunities in the home care business and began developing programs to deliver better services and the over 65 population. Phillips technology company began work on improving doctors and nurses staying connected with their patients. This communications gap was especially prevalent in the home care industry. Phillips developed a Tele Health System called TeleCU. This system was designed to be proactive in the care of their patients. It can spot changes in an elderly person and highlight those which require closer and at times immediate attention. Yahoo finance, reported in its Blog the following:
“TeleICU technology is a powerful asset in providing proactive care by making quick catches around subtle changes in patient care and showing which patients need immediate attention,” said Dana Gilbert, Chief Strategy and Population Health Officer, Presence Health. “Since implementing Philips’ Tele-Care Manager 4.1 as part of the beta testing process under IRB governance, we have been able to improve workflow efficiency for our clinicians and increase the number of patients that our team can oversee at a time while maintaining improved patient outcomes and thereby giving Presence Health one more way to provide quality, compassionate care.”
The tele-health System is focused on a hospital settings what doctors and medical people are discovering that it has applicability after a patient leaves the hospital and goes home to finish their rehabilitation. It allows hospitals to identify problems which might normally go undetected until the patient needs to be readmitted to the hospital. Under the affordable care act the hospital could face serious penalties from the gov’t. Using this new tele-health software in a test setting a hospital was able to save millions of dollars over a Approximately a one year.
Participating in the rapidly growing home health business can be entered into safely with a Senior Care Franchise. At the Top 10 Senior Care Franchises, we have identified the top companies in this very lucrative field. Visit our website to learn more.