Are You an Entrepreneur or Non-Profit Wanting to Start a Geriatric Care Management Business?

June 15, 2021

Do you have a big enough Slice of the VIP Pie…?

If you are you are considering starting a for profit geriatric care management or ALCA business you must do a market study to find if you have enough VIP clients. Will you have a big enough slice of the VIP pie to make that profit? That pie slice needs to have a big enough mixture of VIP older clients in the upper 10% who can afford GCM or ALCA services and more important 4-6K a month for homecare.

Is This New GCM Service Feasible?

To start this feasibility study you need to determine the geographic footprint of the VIP market you wish to serve.
You should look at your entire potential service. For example, if you plan to serve the whole state of New Jersey or the entire city of Princeton or the zip code 33023 in Hollywood, look at that Geographic area through the census.

You are searching for the section in your service area most likely to yield VIP older clients in the upper 10% who can afford GCM or ALCA services and more important 4-6K a month for homecare .

Market Sizing Can Help Find VIP Clients

Doing a Market study will find out the number of older adults & population density within service area, the number of VIP households with income $500,000 as indicator of ability to pay and the number of residents over 75 as indicator of medically complex cases where 3 or more ADL’s cannot be done helps you understand if enough VIP clients are in the area you choose for you to start a GCM or ALCA business

This VIP zip code search, in a market survey will insure that your Geriatric Care Management or ALCA agency does not go bust and actually lose money. It has happened. Avoid this mistake.

Whether you are an entrepreneur wanting to start a Private Geriatric care management business or a non-profit agency wanding to add a for profit care management arm to raise money for the non profit you must do this market study as your first step down the path of investing in the oping of a GCM or ALCA business.

Join me in my newest FREE Webinar :

Sales – PR & Marketing to Find the VIP Client

When: Thursday, July 15th

Time: 2:00 PM-3:30 PM PST

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YOU Will Learn…

Who Are the 4 types of VIP Clients.

Understand how to find VIP Concierge Clients- hot mapping & Market Studies

Learn to create or revise a Concierge Geriatric Care Management Strategic Marketing Plan

How to Sell Benefits Not Features to 5 Professional ALCA -GCM 3rd parties
.

How to Use Free PR to Use to Find Adult Children of VIP Clients

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After registering, you will receive a confirmation email containing information about joining the webinar.

Video-What Business Skills Must You Have for an Aging Life or GCM Start-up?

March 25, 2021

If you a Nurse, Social Worker or Aging Care Professional or Business Entrepreneur and want to start a profitable Aging Life / Geriatric Care Management agency

What Business Skills Do You Need?

A new geriatric care management business must spring from the intersection of three streams: your passion, your competence, and market opportunity. To start a geriatric care management business, the adage to “know thyself” becomes critical. Are you passionate about geriatric care management? You will need passion to sustain you when the situation gets tough—which it does in all beginning businesses. You must have the core competence both to be a geriatric care manager (GCM) and to run a business. Good GCMs with no business acumen, which is often the case, frequently fail in business. You must also have the market opportunity.

Is This a Good Choice for You?

If very few older people live in your community, you may not be in the right area to start a geriatric care management business. If 10 other GCMs are practicing in your town, the

competition may limit your own market opportunity. Finally, you need to assess why you want to start this type of business in the first place. Are you motivated by the financial gains? by community recognition? by a need to make a difference?

You Have To Know Cash Flow

You especially must understand billing and cash flow. Without this knowledge, you will fail like 50% of new businesses do. Along with this, you have to understand how to bill 85% of your care manager’s time to stop cash flow from putting you out of the business. This leads to overall financial forecasting skills. When do you break even, when can you hire a new care manager and afford to stop being a solo practitioner who wears so many hats you are crushed by the weight.

Learn Billing and Financial Forecasting and More my new on-line Start-Up GCM Business Class

Most care managers have no business background because they are nurses, social workers, and health professionals without an MBA. Yet their business depends on cash flow and financial skills to pay the bills

Check out my Online GCM Business Class which includes 10 modules on starting your GCM Business including two modules on financial management so you do not go under and lose your dream start-up

Skills you will learn in My GCM Business Class

GCM ALCA billing skills to develop a billing system that allows you to bill 85% of your time, control your cash flow, invoice promptly to make a profit
GCM financial forecasting skills to develop a 3-year financial forecast Excel spreadsheet to track your basic profit and expenses and to track the number of clients and billable hours needed to break even make a profit, pay back loans, hire new staff, and take a salary yourself
GCM organizational design skills to create your business flow chart and job descriptions, and outline how power flows down your staff to deliver gold standard care to clients
GCM marketing survey skills to pinpoint your area’s upper 10% clients and 3rd-party referrals to market, to make your business profitable
GCM competitive analysis skills to set the fee per hour your market will bear for your services and to gather information from each, to position your services vs your competition’s so clients will choose you
GCM timeline skills to identify and list (in a manageable, doable order), major tasks to complete before you open your business
GCM business planning skills to write a 13-part business plan to create a blueprint of measurable goals for your business’s financial success
GCM marketing skills to create a marketing plan to develop lead sources, conduct leadgeneration, launch social media and conduct content marketing to gain new customers
GCM sales skills to position your agency to sell your menu of services
through benefits to 3rd parties and clients through cold calling, 1-1 sales meetings, and inquiries, by knowing how to close the sale and sign the contract
LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA
Check out our affordable price or choose a monthly payment plan

The 2 Deadliest US Sites of COVID-19 Nursing Homes & Prisons

May 2, 2020

PRISON INMATES AND NURSING HOME PATIENTS NOT 6FT APART – 6 FEET UNDER

70% of inmates in federal prisons have COVID-19. In Kansas, the Lansing Correctional Facility had a riot of inmates over COVID-19 lack of care or protection It took the rebellion to get the coronavirus testing PPE and care. The Bureau of Prisons in Kansas confirmed finally that 79 staff have coronavirus and 88 prisons and prisoners dead.

Older residents in nursing homes cannot rebel like prisoners. Many can’t even walk. The Atlantic Magazine just published an article, We are Killing Elders Now. The writer states “In at least six states, these fatalities account for half of all COVID-19 deaths, and according to the World Health Organization, half of all coronavirus fatalities in Europe have been traced to nursing homes too. Some of this mortality is linked to long-term-care facilities that are shoddily run or that violate health standards. But most of them are doing the best they can with what they have. And they don’t have much”.

KAISER FOUNDATION NURSING HOME STAFFING AND USE OF PPE NOT REQUIRED IN MOST STATES

Kaiser reports -Staff Screening. It is more common for states to recommend rather than require daily screening of staff for illness in NFs (24 states recommend, 16 states + DC require)

Use of PPE. More states recommend (23 states) than require (7 states + DC) staff to use PPE

Two States that require testing for coronavirus of ALL residents of nursing homes are Maryland where 556 have died as of the Washington Post article. and Tennessee

THE FEDS HAVE NO CMS FEDERAL GUIDELINES OR REPORTING

We have no federal guidelines for safety testing according to an article by the Kaiser Foundation

It is now estimated that 16,000 deaths have occurred in nursing homes and that is without the federal government revealing any numbers and not making available any testing. But the numbers are probably huge- if we could just do testing.

CMS announced it would have a meeting of a “panel” of experts “ sometime at the end of May”. After probably 20,000 older people died and the feds did nothing this shows their sense of urgency about this pandemic’s national “elder cleansing”.

WHAT CONNECTS PRISONS AND NURSING HOMES – CONCENTRATION CAMPS

So, what is the connection between the viral spread of COVID-19 in nursing homes and prisons- 6 feet ? Prisoners and residents, in nursing homes, and prisons cannot social distance. Jails and prisons have human beings crammed together with no choice. Nursing homes have 2 beds or if you are on Medicaid three to a room. Neither group has a choice to social distance. They are ” concentrated” as in concentration camps or death camps.

Do SOMETHING – HELP NURSING HOMES PREVENT MORE CARNAGE

So, as someone who has spent her career in aging, I am calling out to everyone, especially professional in aging – do something. Since the feds appear to be doing little- call your congressman, write a letter to the editor.

BE KIND LIKE RACHEL MADDOW REPORTS LA JEWISH HOME LA WAS

Rachel Maddow suggests calling your local nursing homes and see what they need. Be kind like the LA Jewish Home was to a smaller nursing home LA Brier Oaks. They wanted to test their residents and had no tests and the larger LA Jewish Home had tests and shared them with the smaller as a good neighbor. What they found was ravaging but it also showed caring and generosity. Care and be generous and show the helpless elders in nursing homes in your town you are opposed to -nursing home being prisons or concentration camps.

How to Be Financially Literate to Grow a Geriatric Care Management Business

October 11, 2019

Why Do A Financial Projection To Start a GCM Business?

A financial projection may be mind-numbing to care managers who started this business with a great idea and a toolbox of care management skills. Beware– without tools to make money- your great idea of a private geriatric care management business may end up bankrupt.

Geriatric care managers need to understand revenue- how they make money to be financially to make a profit. Revenue does come from billing – but poor billing is very unprofitable billing. Money-losing billing is anything less than 85% of your client’s time. When you bill less than 85% you actually start losing money. Revenue is the high tide of money and is calculated by the number of client’s you serve, new client’s per month, number of clients canceling service. % of time billed (the goal is 85%) and what you charge for travel time.

You Need Financial Literacy to Start a GCM Business

Care managers can become more financially literate about making money by doing a financial projection over a three-year period. You can calculate the number of clients you need to make a profit when you will break even when you can hire new staff.

You can find out awesome facts before you open a care management business by doing this mind-numbing financial projection. Facts you can forecast are how much investment you will need for your business, what the cash flow consumed in the business will be, the number of client’s you need to make a profit and most of all when you will break even and rise above low tide– moving to the all-important high tide, through your excellent financial management and care management skills.

So use this financial decision tool of financial projection. Find it chapter 13 of the Handbook of Geriatric Care management 4th edition and watch youtube 5 Financial Projection below. Become a geriatric care manager with financial skills to make a Profit

Sign Up for My Newest Free Webinar

5 Critical Steps to Start and Run a GCM/ALCA Business

THIS WEBINAR BEGINS: Tuesday, October 22 at 2 PM PST Ends 3:15 PM PST

Learn how to transform your GCM entrepreneurial dream into a money-making business with 5 profit driven steps!

How to Do A Competition Survey
How to Learn GCM Financial Literacy
How to Give GCM Concierge Service
How to Bill 85% of your time
What GCM Products Services to Sell
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