Cathy Cress

Expert in Aging Life and Geriatric Care Management

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Want to Make a Profit in an Care Management Business Home Care Business ?

April 20, 2022

 

want to make a profit

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?

 

a VIP or Concierge client

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

want to make a profit

 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

SIGN UP

REGISTER NOW TO FIND VIP & Concierge Clients

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

 

Subscribe to my Care Management YouTube Channel to find out about finding & working with VIP  private care management Clients

 

 

 

 

 

 

 

 

 

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Filed Under: Aging, aging life business, Aging Life Care, Aging Life Care Assocaition, aging life care manager, Aging therapist, ALCA Financial literacy, ALCA sales, ALCA start-up business, Benefits, Benefits of Care Management, Benefits of Geriatric Care Management, Benefits vs Features, billing, Billing 85%, Blog, care management start-up, case manager, cash flow, concierge clients, Concierge Geriatric Care Manager, Concierge Senior, entrepreneur RN, Features vs Benefits, GCM Webinar, Geriatric Care Management Business, geriatric social worker, marketing ALCA /GCM, marketing to concierge clients, nurse advocate, nurse care manager, Profit, profit in ALCA, Sales in geriatric care management, START UP, start up geriatric care management business, VIP Clients, VIP marketing, VIP Marketing Plan, VIP Sales, Webinar, Webinar ALCA GCM Tagged With: adult children of VIP parents, Aging Concierge client, aging life care manager, aging parent crisis, ALCA care Manager, black aging family, black american geriatric care managers, Black Entrepreneurs, Black Nurse Entrepreneurs, Black RN's, Black travel nurses, Business Profit, care manager, case manager, Census, Concierge Aging Client, Concierge Geriatric care manager, Concierge Home Care, Concierge homecare, Concirege, Expanding Home Care, Find VIP CLients, GCM cash flow, geriatric care manager, homecareagency, Hot- Mapping, money, nurse advocate, private diuty home care, profit, start a care management business, VIP, VIP Client Products, VIP homecare, VIP Marketing, webinar concierge care, Webinar VIP Clients

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.

Filed Under: Aging, Aging Life Care Assocaition, aging life care manager, Benefits of Care Management, billing 85% of GCM hours, Black Entrepreneur RB, Black Entrepreneur RN, Black RN, Black Travel RN, Blog, care management market sizing, care management start-up, care manager, case manager, Concierge aging clients, Concierge Care Manager, Concierge Geriatric Care Manager, Concierge Marketing, Concierge Senior, elder care manager, Families, Geriatric Care Management Business, Geriatric Care Manager, Non-profit, Non-Profit adding Profit services, nurse care manager, VIP Clients, VIP marketing, VIP Marketing Plan, Wealth Management Departments Tagged With: Adding ALCA to Non -Profit, adding geriatric care management, Adding Geriatric Care Managemet to a Senior non profit, adult children of VIP parents, aging life care manager, aging life or geriatric care management, aging parent crisis, ALCA care Manager, ALCA Entrepreneur, ALCA marketing, black american geriatric care managers, black american social workers, Black Entrepreneurs, Black Nurse Entrepreneurs, care manager, case manager, entrepreneur, Entrepreneur GCM, feasibility study, Find VIP CLients, free webinar, Free webinar marketing, geriatric care manager, Market study, Marketing sizing, non profit, non-profit care manager, nurse advocate, nurse care manager, VIP clients

End of Life-When Do You Need Mediation?

February 23, 2021

Why do some families need mediation at the end of life? Mediation is a voluntary process in which the parties, with the help of an impartial third party mediator, work together to resolve their differences or solve a problem they were unable to address satisfactorily without help. These family differences especially happen to dysfunctional families but can beset any family at the end of life. They are faced with overwhelming emotions and decisions that demand that the family work together as a team. What happens to dysfunctional and even nearly normal families during this trying time? They don’t gather as a team. They fight. They fret and they feud. What are the results of this fighting, fretting, and feuding in families at the end of life?                                        family-charis1-226x300.jpg

Unresolved family conflicts emerge

            Dysfunctional families become more dysfunctional

Family members’ grief, pain, and anxiety are often masked as anger and presents as conflict (past and present)                                                 

Older person dies without resolving important family issues

Older person dies in conflict, not in peace

Deliver a Good End of Life- Add Death and Dying to Your Care Management Agency

 

Serve Your Client Until Death Do You Part

 

Join me Thursday, March 11, and learn why End of Life Services Are a perfect new service for care managers 

 In this 1 ½ -hour webinar you will learn how to 

  • Transition the patient/family through the five stages of death     
  • Help clients be active participants in their care
  • Give the family/caregiver tools to manage care
  • Provide family center care to caregiver and family
  • Choose the right support services through all stages of death
  • Introduce Hospice and Palliative care and work with their team
  • Use ALCA End of Life Benefits During COVID
  • Use  COVID -19  Family Coaching for GCM
  • Sign Up    

If you really want to add End of Life to your care management business sign up for this webinar now

 

Filed Under: Aging, aging life care manager, Death & Dying, Death and Dying Care Management, death and dying care manager, DNR, End of Life, End of Life Care manager, GCM role Death and Dying, geriatric social worker, Good Death, Hospice, Hospice Care, mediation, Mediation End of Life, Mediator, nurse care manager Tagged With: Advanced Directives, aging parent, aging parent care, aging parent crisis, ALCA care Manager, ALCA in End Of Life, disputes at end of life, dysfunctional aging family, dysfuntional family, elder mediation, end of life, end of life family meeting, facilitator, families fretting at end of life, family meeting, Fighting and Feuding at end of life, GCM mediator, geraitric care manager, Geriatric Assessment, geriatric care manager, geriatric care managers, Handbook of Geriatric Care Management third edition, mediation, mediation end of life, mediiator, My Geraitric Care Management Operations Manual, nurse advocate, nurse care manager, power of attorney for health care, siblings feuding, siblings fighting, step sibling family meeting

Are You an Eldercare Non- Profit Wanting to Start a Geriatric Care Management Arm- Do Market Sizing

January 15, 2020

 

Non-Profit Seeking New Revenue?

Are you are a non- profit considering starting a geriatric care management business to add a revenue source to your non- profit. You do have a timeline – right? The second item on your timeline is a market feasibility study. You need to test what your market share will be. Will you have enough of the pie to make a profit?

Is This New GCM Service Feasible?

To start this feasibility study you need to determine the geographic footprint of the market you wish to serve.
You should look at your entire potential service. For example, if your non-profit serves the whole state of New Jersey the entire city of Princeton or the zip code 33023 in Hollywood, look at that
Geographic area. You are searching for the section in your service area most likely to yield older clients and their families who can afford GCM services the 10%
If you cover all the counties in Delaware, select all those counties. Create a market survey of those counties to find out which counties have the highest number of seniors, with the highest income described as your ideal client. You will be using the US census figures and other metrics.
Here is Some Great Tips To Make Sure Your Non- Profit adds a for-profit Geriatric Care Management does not go bust and actually lose money. It has happened. Avoid this mistake.

LEARN HOW TO MARKET LIKE YOUR BUSINESS DEPENDED ON IT 

January 23 @ 2:00 pm – 3:00 pm PST

The busiest season for care managers is January & February after as adult children have just visited for the holiday and seeing their elderly parents skating on very thin aging ice

Learn care management marketing so you can:

Capture those desperate clients in January after the festive fright-

Develop strategic marketing that brings more customers,

Understand branding         

Develop a positioning strategy so the caller chooses you

Understand lead generation in care management

Get the best marketing software  

Create a 5 Star Marketing Plan for the top 10% of seniors who can afford you.

Click Here To Register 

FIND OUT MORE 

THIS FREE  WEBINAR  FROM 2 PM – 3 PM PST Thursday, January 23, 2020

SIGN UP NOW  

Filed Under: Aging, aging life care manager, Blog, care management market sizing, care management start-up, care manager, case manager, elder care manager, Families, Geriatric Care Management Business, Geriatric Care Manager, Non-profit, Non-Profit adding Profit services, nurse care manager Tagged With: Adding ALCA to Non -Profit, adding geriatric care management, Adding Geriatric Care Managemet to a Senior non profit, aging life or geriatric care management, aging parent crisis, ALCA care Manager, care manager, feasibility study, free webinar, Free webinar marketing, non profit, non-profit care manager

Will You Make a Profit If you Start an Aging Life or Geriatric Care Management Business?

August 17, 2019

 

Do You Have An Ethical Dilemma about Billing Clients?

Blackboard Business Strategy Concept

If you want to start a Geriatric  care management or ALCA business you have to learn how you will make money. 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 have an ethical dilemma and feel guilty billing older clients and do not bill often as they feel that guilt. 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. 

Do a GUT CHECK

commercial illustrator

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 before you start being a care manager

iStock_000020888499_Medium.jpgYou 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.

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

Sign up for my latest free webinar 

Join Me in my new

 

 

FREE WEBINAR- ONLY FOUR DAYS LEFT TO SIGN UP 

Break Through Barriers to Billing & Profit: Financial Management for GCM &Aging Life Care Managers

 

 

 

THIS WEBINAR BEGINS: Wednesday August 21 2 PM PST Ends 3:15PM PST

 

DURING THIS FREE WEBINAR YOU WILL LEARN

How to Give Your Customers Have a Commitment to Pay You

To maintain Cash Flow 

To choose the Right Billing Software  

To develop Financial Literacy  

Why You Must Bill 85%  

Understand How To Hire Care Managers Who Can Bill 85% 

Understand How to train your Staff 85%

How to Thrive financially at ALCA or GCM

k8502838.jpg

Sign Up Here    

 

 

 

 

 

 

 

 

 

 

Filed Under: Aging, Aging Life Care, aging life care manager, ALCA sales, billing, Billing 85%, Blog, care management start-up, case manager, cash flow, Concierge Senior, Geriatric Care Management Business, geriatric social worker, marketing to concierge clients, nurse advocate, nurse care manager, Sales in geriatric care management Tagged With: Aging Life Ethical Dilemma, ALCA care Manager, Business Profit, care manager, case manager, GCM cash flow, geriatric care manager, money, profit, start a care management business

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