Who is Your Market in an Aging Life or geriatric care management business?
How Do you find Concierge Clients? Your market as a care manager is the rich and famous people, your concierge clients, and three other wealthy groups. The lower 90% only call during a crisis, which usually leads to home care. Homecare costs between 4000-6000 a month. This is why you need to serve that top 10%. According to Pew research, the upper 10% can afford that in this nation of broad income disparity, and 90% below cannot.
Demand and not need determines the success of an eldercare business like aging life or geriatric care manager business. This fundamental fact of life must be considered when developing a business plan for a for-profit, fee-based, Geriatric care management business and so the question becomes how do you find concierge clients?.
Who Can Really Afford Geriatric Care Management
How Do you find Concierge Clients?The target market for a private geriatric care management business is not the 65 million families who need those concierge care management services but the much smaller subset of those families who can afford to hire a GCM or aging life care manager and a private duty home care agency, and are willing and able to pay for the services that GCMs and can actually find their way to you.
This subset really represents the top 10% of the economic spectrum and, more precisely, among the rich and famous, the top 1% who actually held onto its share of national wealth in the 2008 economic crisis and gained quite a bit with Trump’s tax cut in 2019
Why Need vs. Demand is the Only Way to Fiscally Survive in GCM A Hard As That May Be to GCM’s
Bob O’Toole MA, a long-time geriatric care manager, wrote a highly researched chapter in the Handbook of Geriatric Care Management 4th edition, Private Revenue Sources for the Fee-Based Care Manager- Need Vs. Demand in the Elder Care Market shows aging life and geriatric care manager why you need this 10% of elders and their families as customers.
How Do you find Concierge Clients – What Words do you use in your copy – what keywords do you use to attract them to you?
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Sign-up for my Free White paper to learn to use the copy & keywords to sign-up for home care or care management Concierge-VIP Clients who can afford care management & home care as Medicare does not cover long-term care