With the senior population booming, there has never been a better time to start a senior care business. Not all seniors need medical care, but many need additional services to help them remain at home. In addition to companion care insurance, here are some things to consider before starting a senior care business.
Many senior care businesses offer similar services related to Activities of Daily Living. Light housekeeping, bathing, meal preparation, dressing, and medication reminders are some common ADL services. Some seniors may need transportation assistance as well. Consider the services you plan to provide.
How much do you plan to charge the clients? Look around for local prices to determine where your pricing should be. Many services are not covered by Medicare requiring clients to pay out of pocket or with Long Term Care Insurance.
Since the employees work in the homes of the clients, you want to be sure to hire quality employees and conduct background checks. Thoroughly screening your employees can help lower your risks. Employees should be comfortable working around seniors, be compassionate, reliable and friendly to better meet the needs of your clients.
Caring for seniors can be a great business opportunity. Companion care insurance protects your financial assets and covers your liabilities. Insurance is a necessary part of your risk management plan even though you do not offer medical services.