how to open a home care respiratory care business?

Question

I am a respiratory therapist and would like to open a service business like having other therapists go to patients house in need of respiratory care to provide care like the nurses do " home visiting".

Answer 1

first, how do you plan on getting paid? most will expect medicare or insurance coverage. you must have medicare provider number in order to bill medicare, are you going to provide concentrators, equipment etc. where will you get referrals? do you have a business plan? what insurers will accept your billing? do you have enough cash reserves to last until paid? insurers and medicare never pay within 30 days. who will maintain equipment? are you going to buy new or used? what other services can you provide besides respiratory? how much insurance will you need? are you going to buy or rent oxygen cylinders? how will you handle after hours emergencies when equipment breaks or elderly patient does not operate it correctly? someone has to be on call. how much equipment will you need and where can you get fast delivery when you begin to run short? if medicare goes to competitive bidding how will you compete against national chains...apria, lincare, american home patient etc? how much competition in area? find an area underserved.

answer some of these and you will have an idea...good luck, i just sold mine.

Answer 2

1

Answer 3

The best routes to take are to research the process of starting a business as well as the industry you're interested in.

I recommend checking out the SBA, Entrepreneur, The Start Up Journal & Nolo. All 4 are great informational resources for the new/small business owner. I posted links for you in the source box.

Associations may be a good avenue to explore as well. These organizations will address many of the thoughts, questions and concerns you'll inevitably have as well as many you haven't anticipated yet. See the source box for some relevant links.

Research, research, research – this cannot be stressed enough. Read as much as you can about the industry. Here are some book titles that are relevant:

* Pocket Guide to Home Health Care by Karen McGough Monks
* Handbook of Home Health Standards and Documentation -- Guidelines for Reimbursement by T. M. Marrelli
* Handbook of Home Health Orientation by T. M. Marrelli
* Manual of Home Health Nursing Procedures by Robyn Rice

There are plenty of free informational resources out there. Check the source box for links to articles.

Hope that helps! I wish you much success & happiness in all your ventures!

Answer 4

1. Have alot of capital
2. Have good referal sources
3. Know how to do medical and especially medicare billing.
4, Make sure you have enough people available to service business you get.

My wife started one of the very first Pedi-Care home health care business in the country. Did well until it was purchased by large company.