How To Start A Home Healthcare Business

Medical training or not, if your heart beats to help those in need of ongoing healthcare and ensure their well-being even after they are released from a hospital or care facility, you may have a future in home healthcare.

Check with your state licensing board to ensure that you comply with all the legal requirements and licensing to legally operate a home healthcare service in the state.

There are many specialties to choose from – some medical and some non-medical – so find your niche and target your advertising to that audience. Doing this will ensure a satisfying career of service in caring for the frail, ailing and recuperating patients that need a hand up to maintain their dignity and independence when they cannot do it all on their own.

How Big Is The Home Healthcare Industry?

Forbes reports that a home healthcare agency’s median income is $2 million in annual revenue. The demand for home health services has fueled an exponential growth rate in the last 16 years producing 56 franchise brands currently available to those wishing to get into the home healthcare business.

Why Starting Home Healthcare Agency Now Is A Good Idea

Experts predict that the demand for home health services will continue to grow as the baby boom generation ages. The United Nations estimates that the population of seniors over 60 years of age will triple in the next 35 years, reaching as high as 2 billion by 2050. It is generally considered a comparatively low startup investment with high revenue returns making now the perfect time to jump in and ride the rising tide.

Home Healthcare Business Facts

Here are some facts and figures about the home healthcare business you should consider:

Home healthcare business startup costs

$50K to $500K

How much do home healthcare workers make?

$8.89 to $20.52 per hour or $18,480 to $42,690 per year. With agency revenues in the millions of dollars per year, an owner can expect a healthy 6 figure cut after deducting expenses.

How much do home healthcare agencies charge?

$15 to $75 per hour for a healthcare aide caregiving services; licensed health professionals or live-in care can run as high as $200-$400 per shift, day or visit.

How do home healthcare agencies find customers?

Traditional networking, community outreach, holding open houses both on and off-site, leaving brochures in areas where they will reach your target specialty population, from doctors, waiting rooms to hospitals and clinics, rehabilitation centers, senior centers, day care agencies or social service offices are the classic marketing strategies. Establish a voice in the online healthcare conversations you care about via blog posts and social media presence to make connections without the sales pitch. Utilize local media and community organizations and clubs to make a name for yourself as a local healthcare expert through speaking or writing engagements.

What skills are required?

A knack for business strategies, organization and communication are the biggest factors of success in this business. Medical training may be helpful but it is not required. However, the ability to navigate, understand and apply the complex legalities of licensing and operation of a home healthcare agency is a must. Patience and a welcoming personality, flexibility, strength for lifting and assisting with mobility issues, med passing training, nutrition and cooking, hygiene and sanitation, housekeeping, safe driving record.

What do I need to operate a home healthcare business?

Basic first aid supplies, blood pressure monitors, pulse oximeters, defibrillators, TENS units and electrodes for pain control, thermometers, stethoscopes, needles of various types/sizes and syringes, cleaning supplies, books to read to patients, books on tape/CD, computer system with backup systems, paper shredder, mobile device (notebook computer or tablet), all-in-one printer/copier/scanner, comfortable furniture for the office and waiting room, mobile and land line phones, reliable Internet access, label maker, binding machine, laminator and laminating plastic, filing cabinets, bulletin board, calculators, scissors, a letter opener and a staple remover.

Home Healthcare Business Ideas

Do you specialize in elderly health care?

Giving care to people with physical disabilities

Struggling with what to name your home healthcare business, here are a few ideas:

TLC Homecare	Health Visions Homecare
Healthcare Partners	Personal Connections
A Hand at Home	Guardian Care
Bridge Care	Lifecare Professionals
River of Life Care	Wellness Lodge
Carepoint	Truhaven Hospice
{city/county} Home Care	Housecalls Healthcare
Listening Hearts Home Health	Diamond Care