Do You Want to Make a Profit As a Private Care Manager?
Do you want to make a profit in care management or home care you have to learn how you will make money? It must be serving VIP clients. You may start it to reach seniors in need. But, the reality is making a profit comes from serving the upper 10% or Concierge and VIP clients who can afford private pay. If you have a business and you are an entrepreneur, you need to understand” profit” and how to handle money and “like it”. Many GCMs do not understand this. They end up going out of bankrupt
Do You Know the Customers You Want to Serve?
To make money you must choose to go after the right customers. To start a Geriatric Care Management business PLUS to write a major section of your GCM business plan,
you must describe ” that customer” you intend to serve -your market assessment or opportunity. It tells you and investors whether you will have enough customers to make money.
The VIP or Concierge client in the upper 10% is the customer you want. Why – Medicare does not pay for Geriatric Care management or ALCA services or Home Care . Only the top 10% can afford to pay you privately at 4-6 K a month for home care
Do a GUT CHECK
To make money you must choose to go after the right customers. To start a Geriatric Care Management business PLUS to write a major section of your GCM business plan,
you must describe ” that customer” you intend to serve -your market assessment or opportunity. It tells you and investors whether you will have enough customers to make money.
Start with a definition of your ideal client. Example: A woman, 85 years old with chronic care needs who has an income or liquid assets of $500,000 or more. In other words, you must serve the top 10% to make money and thrive. Are you comfortable with this as an entitled demographic as a social worker or RN? Do a gut check now
You want to list the customers who will reward you the most financially.
How many of these ideal clients are in the area you wish to serve to make a profit? You
need to do an analysis of the age and income levels. Generally, geriatric care management
customers are over age 85 or are disabled younger people with incomes in the range of the top 10% in your community. Your customers are also the local overstressed adult children of clients, long-distance caregivers with family members who need help and live in your community, and third parties like Trust Officers who may hire you as a GCM such as trust officers, attorneys, conservators, or guardians.
Know how you can make money by doing market research hot mapping & the census
You need to do market research to define the size of the market in the area where your business will be located (e.g., how many people over age 85 live in, Modesto, California, how many third-party target markets such as trust departments are in the town)?
This type of demographic information may be available from U.S. Census Bureau reports local Area Agencies on Aging, local chambers of commerce, local hospitals, and even members of the local media who have done their own surveys. You can use the Internet to retrieve U.S. Census data in your area, and in addition you can Google your State Department of Aging or Department of Finance and then find all senior services that may have data on older people in your area.
What is hot mapping?
You can also do hot mapping. A zipcode heat map outlines the boundaries of each zip code in your data set and helps you see the insights buried deep inside your numbers like where people with the highest income live in an area
Join me in my newest FREE Webinar
How to Find Concierge Clients Who Can Afford You
WHEN Tuesday, May 17th, 2022
WHAT TIME_2 PM-3:30 PM Pacific Standard Time
What we will cover
- Why only top 10% can afford private pay care management.
- Who Are the 5 types of VIP/Concierge Clients?
- Sales Using Benefits Not Features to ALCA -GCM 3rd PARTIES
- Understand how to find VIP Concierge Clients Do hot mapping & Market Studies
- How to Use Free Public Relations ( PR) to Find Adult Children of VIP Clients
- How to create or revise a Concierge Geriatric Care Management Strategic Marketing Plan
REGISTER NOW TO FIND VIP & Concierge Clients
After registering, you will receive a confirmation email containing information about joining the webinar
How to create a winning sales pitch to a third party
The Benefits of a Care Manager’s Role in Hospice?
notebook if they wish
