Cathy Cress

Expert in Aging Life and Geriatric Care Management

If you Are A Start-Up Geriatric Care Management Agency – Do You Have Business Skills?

You need clinical skills to start and run an aging life or geriatric care management agency but you must have business skills as well.

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 to know how to do a competition survey to measure whether you have too much competition and what your competitors off so you can offer more and be chosen. You should also identify and survey other direct GCM competitors like the non-profit area agency on aging which may have a GCM arm or for-profit like accountants or elderlaw attorneys who include geriatric care management in their service mix .

You need to know branding. Aging life or geriatric care manager must use different branding and a  marketing approach that messages hyper-attention to seamless care to attract these top 10% concierge clients who can afford your services long term.

Marketing your existing or new Aging Life or GCM business is vital to growth, but where you spend your marketing dollars? What marketing tactics make the most sense for you? Where will you reach your concierge client base best?

This is where your marketing strategy comes into play. Before the business can start generating large revenue, a concierge marketing strategy and sales techniques must be in place.

Your marketing message must be communicated to the concierge customer. You need to how to write a business plan, use social media to attract customers, how to do 1-1 marketing to third parties-

Find out more

  • How do you attract Concierge upper 10 % of clients you need to keep your business afloat and really profitable?
    • Want to know more about what you need to start or restart a Care Management Agency?
      Join me Wednesday, October 17 Pacific Time for my latest webinar Pacific Time 2:00 PM 

      • Reach our target concierge audience
      • Design products that exactly meet their needs
      • Obtain adult children’s buy-in                                                                       
      • Use marketing that will make them choose you
      • Get the contract signed with ease
      • Create a brand that tells concierge clients they will get Four Seasons Service      
      • If you really want to run a GCM business that makes money by targeting concierge clients then you don’t want to miss this free training.

      Sign -Up 

    •  In this FREE  1-hour webinar, you will learn how to:             
    • 5 Steps to Sign Up the Profitable GCM Concierge Client

 

How Do You Finance a Geriatric Care Management Business ?

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The financial projection may be mind-numbing to care managers who started an Aging Life or geriatric care management business with an awesome idea and a toolbox of care management skills. But beware– without the tools and skills 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 financial 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.

Geriatric 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 for 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.

  • Want to know more about what you need to start or restart a Care Management Agency?
    Join me Wednesday, October 17 Pacific Time for my latest webinar Pacific Time 2:00 PM 

    • Reach our target concierge audience
    • Design products that exactly meet their needs
    • Obtain adult children’s buy-in                                                                       
    • Use marketing that will make them choose you
    • Get the contract signed with ease
    • Create a brand that tells concierge clients they will get Four Seasons Service      
    • If you really want to run a GCM business that makes money by targeting concierge clients then you don’t want to miss this free training.

    Sign -Up 

  •  In this FREE  1-hour webinar, you will learn how to:             
  • 5 Steps to Sign Up the Profitable GCM Concierge Client

 

 

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