Cathy Cress

Expert in Aging Life and Geriatric Care Management

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Video -Learn Business Skills to Start a Geriatric Care Management Business!

May 6, 2022

What  Business Skills Do You Have in Starting 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, and invoice promptly to make a profit
  • GCM financial forecasting skills to develop a 3-year financial forecast using an 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 contract

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 on critical  financial management so you do not go under and lose your dream start-up

Includes MY Geriatric Care Management  Operations Manual and Forms Manual at no cost

  • LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA 

  • Check out our affordable price or choose our new  monthly payment plan for a start-up 

 

Find Out More 

 

CHECK OUT OUR GCM BUSINESS CLASS 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Filed Under: Aging, aging life business, Aging Life Care, aging life care manager, ALCA business, ALCA Business Skills, ALCA start-up business, Black Entrepreneur, Black Entrepreneur RB, Black Entrepreneur RN, Black Geriatric Care Manager, Black RN, Black Travel RN, Blog, care management start-up, care manager, cash flow, competition survey, Concierge aging clients, Concierge Care Manager, concierge clients, Concierge Geriatric Care Manager, entrepreneur RN, Families, GCM Billing skills, GCM Business Flow Chart, GCM Business Skills, GCM Marketing skills, GCM Start -Up, GCM Timeline skills, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, high end clients, Marketing Home Care, marketing to the top 10$, Marketing Tools 2021, nurse advocate, nurse care manager, start up geriatric care management business, start-up, value proposition Tagged With: aging business, aging family, aging life and geraitric care manager, aging life care manager, aging life geriatric care billing data base, barrier to billing, Billing 85%, billing for geriatric care management, Black Entrepreneurs, Black geriatric care managers, Black start-up geriatric care management, business start up, care manager, case manager, critical success factor For GCM or Aging Life business, Ethical Dilemma with Billing, GCM billing, GCM customers, GCM making a profit, GCM start-up, GCM Subscription Plan, geriatric care manager, geriatric social worker, minority start -up help, My Geriatric Care Management Operations Manual, nurse advocate, nurse care manager, nurse care manager eldercare manager start-up, Profitable aging life business, profitable ALCA business, reaching top 10% elder, target market for GCM customers, webinar billing care management hours

Critical Success Factor for Start Up Care Management Aging- Serve Top 10%

August 2, 2021

Your customers need to be in the top 10% economically and here’s why. That is how you will make money, stay solvent and thrive. To start a Geriatric Care Management business PLUS to write a major section of your GCM business plan, you must describe the customers you intend to serve -your market assessment or opportunity. That tells you and investors whether you will have enough customers to make money. The Concierge Client who is in the top 10% financially is your client.  Start your business plan and your intention to make money, 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.

Upper 10% Customer Needs to be Your Mission and Intention- Why?

You want to list the customers who will reward you the most financially. This has to be in your mission and deeply in your mind. The “Why” is Medicare does not cover geriatric care management which is about expensive as a plumber or more critically – home care-at $4000-6000 a month -as expensive as the average closing cost on a home PER MONTH. Only the top 10% can afford that. So, make this your mental intention because you are running a business whose very blood is cash flow. Without the profit motive and profit, your new business stands a major chance of failure

Ideal Clients and Third-Parties You Need for Success

 How many of these ideal clients are in the area you wish to serve? 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. One gateway to your customers is the local overstressed adult children of clients, long-distance caregivers with family members who need help and live in your community, Another door is third parties, such as trust officers, attorneys, conservators, or guardians, who refer you to their elderly clients or adult children, as a trusted GCM’s, 

If You Want To Start an Aging Life or Geriatric Care Management Business you need to know you can make money before you start.

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, find your local Department of Aging, and then find all senior services that may have data on older people in your area.

 

You Need To Understand Billing and Cash Flow for Success

You also need to know about billing. You might be making good money but if your cash flow is not coming in to pay your bills and staff, you stand a new chance of failure. Care managers who are most often social workers and nurses, often have an ethical dilemma with billing and are filled with guilt. That guilt keeps them from billing every hour and leaving time billed off their timesheet to help a client. This leaves them hurting their business and their bottom line over the short term – not being able to pay their bills and themselves each month. If this continues long term- the GCM is faced finally, like a slowly dying tree in a drought , death by bankruptcy.

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

  • LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA 

  • Check out our affordable price or choose a monthly payment plan

 

Find Out More 

 

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

     

    Find out More

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Filed Under: Aging, aging life business, aging life care manager, ALCA business, ALCA Business Skills, ALCA start-up business, Blog, care manager, cash flow, Concierge aging clients, concierge clients, Families, GCM Business Flow Chart, GCM Business Skills, Geriatric Care Management Business, geriatric care manager, Geriatric Care Manager, geriatric social worker, high end clients, nurse advocate, nurse care manager, START UP, start up geriatric care management business, Start-up Marketing, value proposition Tagged With: aging business, aging family, aging life and geraitric care manager, aging life care manager, aging life geriatric care billing data base, barrier to billing, Billing 85%, billing for geriatric care management, black aging family, black american geriatric care managers, black american social workers, Black Entrepreneurs, Black Nurse Entrepreneurs, Black RN's, Black start-up geriatric care management, business start up, care manager, case manager, critical success factor For GCM or Aging Life business, Ethical Dilemma with Billing, GCM billing, GCM customers, GCM making a profit, GCM start-up, geriatric care manager, geriatric social worker, My Geriatric Care Management Operations Manual, nurse advocate, nurse care manager, nurse care manager eldercare manager start-up, Profitable aging life business, profitable ALCA business, reaching top 10% elder, start-up aging business, start-up care management business, start-up care manager, start-up eldercare, target market for GCM customers, webinar billing care management hours

Critical Success for Start Up in Aging Care Management – Serve Top 10%

July 16, 2021

Why Top 10% Are Your Best Aging Life Customers?

Your customers need to be in the top 10% economically and here’s why. That is how you will make money, stay solvent and thrive.Aging clients in the top economic bracket can afford you and the lower 10% cannot.  To start a Geriatric Care Management business PLUS to write a major section of your  GCM business plan, you must describe the customers you intend to serve -your market assessment or opportunity. That tells you and investors whether you will have enough customers to make money. The Concierge Client who is in the top 10% financially is the client you put in your business plan.  Start your business plan and your intention to make money, 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.

Upper 10% Customer Needs to be Your Mission and Intention- Why

The why is that Medicare does not pay for geriatric care management or what comes long term 24 hour care .The average cost of home care is 4-6K A MONTH  Only the wealthy can afford that , so they must be your  ideal customer.

This cold financial fact has to be in your mission statement and deeply imbedded  in your mind.  So, make this your ” intention” because you are running a business whose very blood is cash flow.You have to have the cash from billing to pay your monthly bills. Without the profit motive and profit, your new business stands a major chance of failure and bankruptcy.

Ideal Clients and Third-Parties You Need for Success

 How many of these ideal clients are in the area you wish to serve? You need to do an analysis of the age and income levels- income over 10%. 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. One gateway to your customers is the local overstressed adult children of clients, long-distance caregivers with family members who need help and live in your community, Another door is third parties, such as trust officers,elder -law attorneys, conservators, or guardians, who refer you to their elderly clients or adult children, as a trusted GCM’s, 

If You Want To Start an Aging Life or Geriatric Care Management Business you need to know you can make money before you start.

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, find your local Department of Aging, and then find all senior services that may have data on older people in your area.

 

You Need To Understand Billing and Cash Flow for Geriatric Care Management Success

You also need to know about billing and cash flow. You might be making good money as a small business but if your cash flow is not coming in to pay your bills and staff, you stand a new chance of failure. Care managers who are most often social workers and nurses, often have an ethical dilemma with billing and are filled with guilt. That guilt keeps them from billing every hour and leaving time billed off their timesheet to help a client. This leaves them mortally wounding their business and their bottom line over the short term – not being able to pay their bills and themselves each month. If this continues long term- the GCM is faced finally,like a slowly dying tree in a drought , death by bankruptcy.

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

  • LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA 

  • Check out our affordable price or choose a monthly payment plan

 

Find Out More 

 

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

    Find out More 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Filed Under: Aging, aging life business, ALCA business, ALCA Business Skills, care manager, cash flow, Concierge aging clients, concierge clients, GCM Business Flow Chart, GCM Business Skills, Geriatric Care Management Business, geriatric care manager, high end clients, value proposition Tagged With: aging business, aging family, aging life and geraitric care manager, aging life care manager, aging life geriatric care billing data base, barrier to billing, Billing 85%, billing for geriatric care management, business start up, care manager, case manager, critical success factor For GCM or Aging Life business, Ethical Dilemma with Billing, GCM billing, GCM customers, GCM making a profit, geriatric care manager, geriatric social worker, My Geriatric Care Management Operations Manual, nurse advocate, nurse care manager, Profitable aging life business, profitable ALCA business, reaching top 10% elder, target market for GCM customers, webinar billing care management hours

Do You Need To Learn Business Skills to Start a Geriatric Care Management Business?

July 7, 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

  • LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA 

  • Check out our affordable price or choose our new  monthly payment plan for a start-up 

 

Find Out More 

 

CHECK OUT OUR GCM BUSINESS CLASS 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Filed Under: Aging, aging life business, Aging Life Care, aging life care manager, ALCA business, ALCA Business Skills, ALCA start-up business, Blog, care management start-up, care manager, cash flow, competition survey, Concierge aging clients, concierge clients, Families, GCM Billing skills, GCM Business Flow Chart, GCM Business Skills, GCM Marketing skills, GCM Start -Up, GCM Timeline skills, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, high end clients, Marketing Home Care, marketing to the top 10$, Marketing Tools 2021, nurse advocate, nurse care manager, start up geriatric care management business, start-up, value proposition Tagged With: aging business, aging family, aging life and geraitric care manager, aging life care manager, aging life geriatric care billing data base, barrier to billing, Billing 85%, billing for geriatric care management, business start up, care manager, case manager, critical success factor For GCM or Aging Life business, Ethical Dilemma with Billing, GCM billing, GCM customers, GCM making a profit, GCM start-up, GCM Subscription Plan, geriatric care manager, geriatric social worker, minority start -up help, My Geriatric Care Management Operations Manual, nurse advocate, nurse care manager, nurse care manager eldercare manager start-up, Profitable aging life business, profitable ALCA business, reaching top 10% elder, target market for GCM customers, webinar billing care management hours

Do You the Have Business Skills to Run a ALCA or GCM Agency ? Watch This Video

March 23, 2021

You chose to Start A Business

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

 

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 clients you serve, new clients per month, number of clients canceling service. % of the time billed (the goal is 85%) and what you charge for travel time.

Competition Survey Mandatory To Start A Business

You need to know how to do a competition survey to measure whether you have too much competition and what your competitors offer 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-profits like accountants or elder law attorneys who include geriatric care management in their service mix.

Do You Understand Branding?

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.

Do You Have a Marketing Strategy?

Marketing Strategy Business concept. The meeting at the white office table

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-.

Check out my  Online GCM Business Class which includes 10 modules on starting your GCM Business including one module on Organizational Design with the job descriptions for every role in a GCM agency and recruitment tools to get the best candidate.

Skills you will learn in My GCM Business Class

  • 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 lead generation, 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
  • 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
  • The Business class set for a start-up GCM Budget and now offers a subscription payment plan for a start-up budget

 

 

Filed Under: Aging, aging life care manager, ALCA Business Skills, Blog, branding, Branding GCM Business, care management market sizing, care management start-up, case manager, elder care manager, Families, GCM Business Skills, GCM Start -Up, Geriatric Assessment, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, marketing care management, Marketing copy, marketing geriatric care management, Marketing Home Care, marketing pitch, Marketing plan, Marketing Strategy, marketing to concierge clients, marketing to long distance adult children, marketing to upper 10%, nurse care manager, On-line GCM Business Class, Webinar Tagged With: aging life care manager, aging life or geriatric care marketing plan, Billing 85%, Business Plan, business start up, care manager, case manager, critical success factor For GCM or Aging Life business, GCM billing, GCM Business Class, geriatric care management business, geriatric care manager, marketing skills, nurse care manager eldercare manager start-up

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