There are more than 15,000 nursing homes across the United States. They supply 1.7 million beds for elderly people. So many people work in a nursing home because it is cost-effective and gives back to the community.
But starting a home is not easy. You need to go through many steps before you can bring elderly people through your doors. Thankfully, you can get started on these steps today.
Here is your quick guide.
Get Educated and Experienced
Your first step is to get the experience you need to be a great caregiver. Graduate from high school, then go to an accredited four-year college. Get your Bachelor’s degree in health services administration or public health.
You should then get your Master’s degree. You are not required to do so, but it will encourage people to want to work with you.
You can get pre-med and medical degrees and then run an aged care facility. But healthcare administration gives you business skills that you wouldn’t otherwise receive. If you are on a medical track, take business classes on the side.
Your time in school will total at least six years. During the school years and summers, you should pursue internships. Nursing homes and hospitals offer plenty.
Once you’ve completed your coursework, you need to receive certification to run a nursing home. Each state has its own protocols. Look up the requirements and fulfill them to the letter.
You then must pass state and national licensing examinations. As with certification, each state has its own requirements. Study for the tests well in advance and then proceed forward.
You may need to meet continuing education requirements. Classes will bring you up to speed on new regulations and better nursing policies. Fulfill these requirements as soon as possible and take a range of classes.
Make a Business Plan
Running a nursing home requires a lot of resources. Start by drafting a budget.
Consider rent, aged care software, and nursing supplies. Factor in payments and benefits for staffers. In addition to doctors and nurses, you will be paying cooks and cleaning crews.
Your operation will take a loss during its first few months. This is the case for virtually every business. Account for that loss.
Once you’ve made a business plan, you can turn to loans and funding. You have many options to get the money you need. Find bank and small business loans in addition to angel investors.
Conduct market research to see how your business can stand out from others. Specialized services can be one component.
For instance, memory care provides resources for elderly people with dementia. You will need to factor in the expenses of these services into your budget.
Be as specific as you can be. The more details you provide, the more knowledgeable you seem to potential investors. Don’t provide details that make you look bad, but give a clear and precise picture of your business.
To expedite the process, you can set up a franchise. Invest in an existing corporation and offer to run a home in your local area. Franchising still takes time, but it gives you resources you wouldn’t have otherwise.
Receive Your Licenses
You are not done once you’ve received your home care license. Medicare and Medicaid are going to be your two sources of revenue, and both programs require certification.
The two programs conduct random surveys to assess your nursing home. They examine what activities the residents will perform and which staffers will be available. If your facility complies with laws and regulations, it can participate in Medicare and Medicaid.
You also need to incorporate your business with the state. You must have a tax ID and National Provider Identifier number. Get help from a financial advisor and lawyer if you struggle with this.
You will need multiple permits as well. Go to the fire and health departments and apply for all documents you need. Stay informed about their continuing requirements so you don’t lose them.
Recruit Staffers and Residents
Once you have all your licenses and funding, you can begin hiring staffers. You can serve as a clinical supervisor if you have experience with medicine. You should otherwise find an experienced physician to serve in that role.
Hire at least one in-house staffer. You can hire more, but they tend to be more expensive. You can contract most positions to an agency of care providers.
Conduct background checks on every person you hire, including janitorial staff and interns. Do not hire anyone who refuses to hand over essential documents.
Your main way of attracting residents is through networking. Talk to eldercare professionals in your area. Encourage them to send clients your way.
You can also market, but you need a number of strategies. Print advertisements in newspapers and put up billboards. Run social media campaigns, producing informative content for elderly people.
It will take time to court interest in your nursing home. Be patient and take things step-by-step.
How to Start a Nursing Home
There’s no better way to help the elderly than running a nursing home. Yet many people don’t know how to start a nursing home.
Begin by getting educated in healthcare administration. Get Bachelor’s and Master’s degrees. Then make a business plan so you can get funding.
Get your licenses and permits from government bodies. You can then start hiring staffers and recruiting residents. Distinguish yourself by offering services that no one else offers, like memory care.
To be successful in business, you need to know business. Follow our coverage for informative guides.
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