Video Learn Business Skills to Start a Geriatric Care Management Business?

August 26, 2021

What Business Skills Do You Have To Start A Geriatric Care Management Agency?

Starting a Geriatric Care Management Agency does not take simply clinical skills but also business skills. Only 3% of geriatric care managers now have business skills because most are in the health field, nurses, and social workers. So it takes business skills you would get in an MBA to start of GCM business. What are those skills and how do you get them without an MBA?

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), majortasks 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 lead generation, launch social media and conduct content marketing to gain new customers
GCM sales skills
position your agency to sell your menu of services 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 contrac

If you do not have all or some of these skills, check out my Online GCM Business Class which includes 10 modules teaching you all these business skills to start your GCM Business including two modules critical financial management so you do not go under and lose your dream start-up

Find Out More

CHECK OUT OUR GCM BUSINESS CLASS

How to Make a Profit Starting an Aging Life /Geriatric Care Management Business?

July 9, 2021

Do You Want to Make Money As a Private Care Manager ?

If you want to start a Geriatric care management or ALCA business you have to learn how you will make money. How??? It must be VIP clients.You may start it to reach seniors in need. However if it is a business and you are an entrepreneur , you need to understand” profit” and how to handle money and “like it”. Many GCM’s do not understand this. They end up going out of business

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 customer you want is a VIP or Concierge client in the upper 10% financially. Why – Medicare does not pay for Geriatric Care management or ALCA services or Home Care it’s natural companion as people age. 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: 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 entitled demographic as 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 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 zip code 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

Sales- PR & Marketing to Find the VIP Client

WHEN Thursday,July 15th

WHAT TIME_2 PM-3:30 PM Pacific Standard Time

SIGN UP

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

SIGN UP HERE

REGISTER NOW

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

Find out More About What You Need to Know about money as a GCM start up.

Close the GCM or ALCA Sale to Assisted Living With Benefits not Features

June 23, 2021

Marketing Tactics – Use Benefits

ALCA members need to sell the benefits of Geriatric Care Management to assisted living. Care managers are perfect professionals to help assisted living residents if they have just moved in, are unhappy with the move, not participating in activities isolating or general when they are not thriving in the resident community.

Marketing care management to ALF’s takes some particular marketing tactics

Although it might seem counterintuitive, consumers rarely want to buy things for the sake of buying them – they want what they purchase to solve their problems.

To borrow from the example of an umbrella, features of this umbrella might be its unbreakable spokes or wind-resistant construction – but the benefit is staying dry even in strong winds that might break lesser umbrellas. The benefit of staying dry in strong winds that break other umbrellas – this make the sale.

Clients who purchase home care or care management want to buy benefits – what your product or service can do for them.

GCM Benefits To Assisted Living

Let’s take a third-party. Care Managers often market to Assisted Living. ALF Directors want to hear how your ALCA or GCM agency is going to help the Assisted Living site. Of course, you can describe your agency features, price, training of staff, gold standard service. However, benefits are what make the sale and keep the Assisted Living dry not flooded by the rain.

But here are some benefits you can offer to Assisted Living when you are seeking referrals and you have a service for residents that involves Quality Of Life

YOUR GCM ALCA AGENCIES BENEFITS

The problem: Assisted Living does not want residents to move out. Most facilities are strictly non-medical and do not have one to one companion and geriatric care management services. Your geriatric care management agency can solve that problem through the benefits of ALCA or geriatric care management.

The assisted living and retirement community population sometimes have clients with needs that cannot be met with their nonmedical, non-one-on-one support services, (usually just an activities director)

You will help facility with residents who are not adjusting to the facility or considering moving by engaging them in activities that will enhance the quality of their life, SO WHAT so they remain in the facility
You will help residents not engaging in activities to participate in the ALF’s activities program or outside activities and socialization program through a quality of life assessment & companion, SO WHAT so they do not want to move out of the facility
You will engage with new residents who are just adjusting both to the facility and their move, to engage in socialization and activity programs. You can help them make friends & engage in outside activities through a quality of life assessment and companion, SO WHAT so they do not consider moving out
You will make monthly monitoring visits to make sure Companion is meeting all the client’s needs, keep in touch with the family and facility with frequent e-mails, texts or telephone updates plus sending a monthly report SO WHAT so everyone is on the same page through your great communication skills.

So, selling the benefits to the third party, who will refer your agency to families of residents who are struggling, is a much more potent selling point that features of your agency.

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

SIGN UP

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
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

SIGN UP HERE

REGISTER NOW

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

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

SIGN UP

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

REGISTER NOW

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

Who Are the Rich and Famous Concierge Clients Who Can Afford Long Term Care?

June 10, 2021

Four types of aging families can afford geriatric care management, home care, and long term care because they have financial resources, usually over a million dollars in assets. Part of this is drawn from Claudia Fine and Nick Newcombe excellent chapter ” Entitlement in the Aging Family”, Care Managers Working With the Aging Family, Jones and Bartlett)

Rich and Famous-Entitled Families:

These families are identified by the aging parents’ socioeconomic, financial and political prominence. ( example President Reagan)They are families in which all basic needs, services, resources, and creature comforts are obtained via income, assets, abundant discretionary cash flow and/or come from the political position, station or power. The entitlement of the family is passed from the parent to the child, like a virus, who in turn brings these behaviors and actions to the caregiving milieu and care management relationship.

Entitlement That Abuses Family With Riches

In these rich and famous families, the entitlement arises out of a family that is accustomed to purchasing everything. They look to paid others to meet their needs (as opposed to families who must themselves find and orchestrate ways to meet basic and complex needs themselves or with the help of the extra-familial system). Often these families have household staff, i.e., nannies, butlers, drivers, private pilots, cooks, and maids. They may have available to the business and family lawyers and accountants, as well as, teams of medical professionals and concierge physicians. Consequently, in almost all situations they are uninvolved in processes, especially those that are difficult, stressful and time-consuming. ( Fine and Newcombe- Entitlement in the Aging Family, Care Managers Working with the Aging Family)

Join me in my newest FREE Webinar

Sales- PR & Marketing to Find the VIP Client

WHEN Thursday,July 15th

WHAT TIME_2 PM-3:30 PM Pacific Standard Time

SIGN UP

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

SIGN UP HERE

REGISTER NOW

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

Contact

Connect with Cathy

Get Cathy’s “10 Critical Success Steps to a Profitable Aging Life or GCM Business”