Life expectancy is increasing in most countries of the world, thanks to technological advancements in medicine and increased health awareness, both of which have led to improved healthcare. With this increase in life expectancy comes a proportionate increase in the demand for nursing care.
If you have a passion for taking care of people, then you can convert this passion into cash by opening a nursing home. This article discusses the requirements for setting up a nursing home business as well as the steps involved.
While starting your nursing home allows you to benefit financially from the growing number of seniors and patients that may need nursing care, the setup process requires navigating many areas including medicine, legal issues, and employment law. So, taking the pain to complete all necessary steps properly is key to your success. Without wasting time, below are the steps involved in starting a nursing home.
How to Start a Nursing Home – Sample Business Plan Template
1. Plan your business
The first step towards starting your nursing home is to create a plan that lists what services your nursing home will provide to clients.
You can choose to provide short-term services only such as basic rehabilitation care. Alternatively, you can choose to cater to those who require long-term care such as Alzheimer’s disease patients, arthritis patients, and those who have suffered brain injury or some other injury that have irreparable damage.
Most nursing homes provide services that include personalized individual nursing help, feeding, outside trips, medication, administration, and recreational opportunities. Whether or not you will be rendering all of these services, you should clearly highlight the services your nursing home will provide to clients.
2. Choose a good location
The success of your business hinges largely on the location you choose. You can build your own facility, buy a pre-existing building, or acquire one on lease. Note, however, that your location and facility must meet all medical codes and requirements that apply in your state or country.
If you are buying an already existing facility or acquiring one on lease, you must make sure to have it inspected by a seasoned inspector to ensure that there are no problems that could pose threats to your clients. And if there are any such problems, you must find out how to rectify them before you make payments or sign any lease.
In case you would build your own facility, then you need to choose a location that has one or more hospitals around. The more hospitals you have close to your chosen location, the better.
3. Get necessary equipment and supplies
After putting your building in good shape, you will need to stock your nursing home with necessary items and equipment. These include wheelchairs, medical beds, desks for staff, stretchers, cabinets, bedding supplies, and so on. Medications, intravenous tubing, bandages, syringes and needles, and cleaning supplies should also be in a fully stocked cabinet where staff members can easily access them.
You must ensure that all items and supplies are labeled clearly. And you should have solid arrangements for easily ordering additional supplies whenever you run out of them.
4. Hire staff
For your nursing home, you will need both medical and non-medical personnel. Medical personnel include a doctors (particularly geriatricians), nurses, and physiotherapists. The nurses should have experience working with elderly patients (since most of your patients will be seniors) and those with conditions like stroke and Alzheimer’s disease.
The non-medical personnel you will require include those who will assist patients with basic tasks such as eating, dressings, cleaning up, and so on, as well as those who would provide clerical services and help to maintain the physical parts of the physical facility.
You will also need to hire experienced staff to run the financial and legal aspects of your business. So, hire a seasoned accountant, and work with an experienced lawyer to ensure that all your contracts with clients are legal. And you will need to hire a director of services whose job will be to ensure that the whole facility runs effectively. Most importantly, you must ensure that all your staff members are highly qualified for their respective positions.
5. Start bringing in patients
You can attract clients by cold calling at private doctor’s offices and hospitals. Always emphasize that your facility is new and meets all requirements and conditions. Aside cold calling, you can also advertise your nursing home in local magazines, local radio and TV channels, classified ads, display advertising, and so on. You can find more low cost marketing ideas for nursing homes here.
6. Network with others
Join professional associations that connect you with other nursing professionals who have nursing homes. This will help you get ideas on how to grow your business and keep abreast of latest changes in the industry.
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