Cathy Cress

Expert in Aging Life and Geriatric Care Management

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Stop -Before Starting Geriatric Care Management Business – Do a Competition Survey

September 24, 2019

 

If you are thinking of starting private geriatric care management, a competition survey is critical to decide if you can make a profit in this business.     

You are surveying who your competition is in the geographic area you want to serve. You are discovering if you can achieve market share in the area you choose to serve.

You want to create a survey  in excel that tracks the individual care manager’s in your services area, and find out what their hourly fee is, do they  include homecare, what geriatric care management services does each  GCM offer, do they answer in two rings, how is their customer service, are they on call 24 hrs a day, are their care managers certified.

Use a staff member or outside person to be a secret shopper and make the calls, as you are doing market research. You must find someone who feels comfortable impersonating someone else. You need to give that person a customer story- they are a daughter looking for services in your area and calling around and a description of the fake mother and her problems

This will also tell you if the local market is too saturated for your new business to compete with the other care management agencies. It will test whether you can make a profit- can you make money, pay your bills, actually go to the next step while doing good?

Fewer businesses are failing in 2019 for many reasons. One is the tendency of would-be entrepreneurs to evaluate business opportunities more carefully before taking the plunge, by doing a competition survey.  Potential company founders are more selective than they used to be.  This means fewer marginal companies – businesses whose products are not needed or whose markets are already being served by other businesses –  are being formed. As a result, the average American company is stronger and more likely to survive than it once was. This means doing a competition survey to find out if your product care management is really needed in your market and are too many geriatric care management competitors, in your area for you to successfully compete as a new business.

Learn how to do your market sizing and competition survey and discover whether you have enough customers in your area to start your care management business. Don’t Guess and fail.

 

Sign Up for My Newest Free Webinar 

5 Critical Steps to Start or Restart a GCM/ALCA Business

 THIS WEBINAR BEGINS: Tuesday, October 22  at 2 PM PST Ends 3:15 PM PST

 Learn how to transform your GCM entrepreneurial dream into a money-making business with 5 profit driven steps!

 

  • How to Do A Competition Survey
  • How to Learn GCM Financial Literacy
  • How to Give GCM Concierge Service
  • How to Bill 85% of your time
  • What GCM Products Services to Sell
  • SIDESTEP THE 8 OUT OF 10 ENTREPRENEURS WHO START BUSINESSES AND FAIL WITHIN THE FIRST 18 MONTHS
  • Subscribe to my YouTube Channel Geriatric care 1 to get more care management information to help your business

Filed Under: Aging, Blog, care management market sizing, care management start-up, care manager, case manager, competition survey, GCM Start -Up, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, marketing, Marketing aging life care, marketing care management, marketing geriatric care management, nurse advocate, patient advocate, Sales in geriatric care management, Webinar Tagged With: aging life and geraitric care manager, business plan for aging life or geraitric care management, care management, case management, competition survey, geriatric care manager, home care care manager, nurse advocate, nurse care manager, small business failure, start up geriatric care manager

Afraid of Your Competition ??-You Can Learn How to Position Your Business From Them

January 14, 2019

 

Your competitors can show you how to position your business so you stand out from the competition. Positioning is how you make clients in your area choose you over others in the area you serve. Your ALCA or Care management competition survey, ( which should so yearly by getting a mystery shopper). The Trump administration says there are lots of people out there be a mystery shopper since he shut the government down. These mystery shopper calls ( the coast guard or your staff) let you identify and survey other direct GCM competitors like the 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.

Identify substitute providers like hospitals, often through their home health services.   These can also be part of your competition to take market share from you. Private duty home care agencies offer geriatric care management to their web site. But you have to discover whether they have a certified aging life geriatric care manager as part of their staff. Tracking this down takes having a secret shopper calling all of these agencies and talking to the actual geriatric care manager and asking for their credentials, prices, services, and many more variables.

Professional Patient advocates in your area should also be tracked as possible competitors.

Non-profits often spin off for profit geriatric care management arms to help with the more needy clients they serve. Many religious denominations have geriatric care as a choice so you can learn how they are leveraging their brand. Area Agencies on Aging offer private geriatric care management and can do a good job of leveraging their respect and brand in the community.

Trust departments or wealth management services can have care management to assist with their elderly clients or the adult children in wealth management, who care for their parents.

All these competition surveys will show you marketing/positioning alternatives in your this competitive landscape. They will show how to better brand and shape your branding message- so you are the top choice of customers.

Find out how you can position your own GCM/ALCA  agency, over your competition and be chosen by clients seeking care for loved ones.

Join me in my new FREE Webinar
Learn to Market Like Your Business Depended on it!
When: January 23, 2019
2PM-3PM PST
Learn

How to position your agency so it stands out from your competitors
How to develop or rewrite a strategic marketing plan in 2019 that brings more customers
How to use branding to build positive gut feelings about your agency
How to develop lead generation and tactics through third parties
How to set up leads generation with both a speakers bureau to do co-presentations & join the rubber chicken circuit to reach adult children and targeted audiences:
•
• Sign -Up –

Filed Under: Adult children, ADULT SIBling, Aging, Aging Family, aging family crisis, aging life business, Aging Life Care, aging life care manager, Blog, brand, branding, care management market sizing, care management start-up, care manager, case manager, competition survey, Concierge aging clients, Concierge Client, Concierge Senior, elder care manager, Families, GCM Start -Up, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, Hurricane Irma, Hurricane Maris, ife care manager, inquiry call, Intake, Intellectual Quality of Life, John Mc Cain, Jose, Late Life remarriage, LGTB elders, Long Distance Care, marketing, Marketing 4P's, Marketing aging life care, marketing ALCA /GCM, marketing care management, Marketing plan, marketing to concierge clients, marketing to long distance adult children, marketing to the top 10$, Mission, Narcissistic Personality, Nearly Normal Aging Family, News, nurse advocate, nurse care manager, Nursing home abuse, Nursing Home disaster plan, Oral History, Palliative care manager, patient advocate, Poor Nursing home staffing, positioning, postioning, Private Duty Home Care, Quality of Life, Quality of Life for elders, Quality of Life in Dying, Quality of Life with Dementia, Reminiscence Therapy, Respect, SIBLING, sibling rivalry, sibling sharing care, Siblings, Social Media, Social Media for Care managers, Social Media for eldercare, Speaker's Bureau, Spiritual Quality of Life, Stepmonster, Sweetheart scam, Thanksgiving, Thanksgiving Parent crisis, Third Party Referral, Timeline, Town Hall, Transgender Elders, Trust Officer, Wealth Management Departments, Webinar, Written Geriatric Assessment Tagged With: aging family, aging life care manager, care manager, case manager, competition survey, geriatric care management, geriatric care manager, nurse care manager

Stop -Before Starting Geriatric Care Management Business – Do a Competition Survey

July 12, 2018

iStock_000085532435_Medium.jpg

If you are thinking of starting private geriatric care management, a competition survey is critical to decide if you can make a profit in this business

You are surveying who your competition is in the geographic area you want to serve. You are discovering if you can achieve market share in the area you choose to serve.

You want to create a survey that tracks the individual care manager’s in your services area, and find out what their hourly fee is, do they now include homecare, what geriatric care management services does each  GCM offer.

This will also tell you if the local market is too saturated for your new business to compete with the other care management agencies. It will test whether you can make a profit- can you make money, pay your bills, actually go to the next step while doing good?

Fewer businesses are failing in 2018 for many reasons. One is the tendency of would-be entrepreneurs to evaluate business opportunities more carefully before taking the plunge, by doing a competition survey.  Potential company founders are more selective than they used to be.  This means fewer marginal companies – businesses whose products are not needed or whose markets are already being served by other businesses –  are being formed. As a result, the average American company is stronger and more likely to survive than it once was. This means doing a competition survey to find out if your product care management is really needed in your market and are too many geriatric care management competitors, in your area for you to successfully compete as a new business.

Learn how to do your market assessment and competition survey ( or secret shopper)  in the Handbook of Geriatric Care Management 4th edition and discover whether you have enough customers in your area to start your care management business. Don’t Guess and fail.

 

 

Filed Under: Aging, Aging Life Care, aging life care manager, Blog, care management market sizing, care management start-up, case manager, GCM Start -Up, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, nurse advocate, nurse care manager Tagged With: aging life and geraitric care manager, business plan for aging life or geraitric care management, care management, case management, competition survey, geriatric care manager, home care care manager, market survey, nurse advocate, nurse care manager, small business failure, Start up aging life care agency, start up geriatric care management agency, start up geriatric care manager

How Do Adult Children With Their Hair & House on Fire Find an Aging Life or Geriatric Care Manager?

May 6, 2017

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Starting an aging life or care management business depends upon customers who will buy your product. These are purchasers like adult children of aging parents who will buy your/ Aging life or geriatric care management services /products directly because their hair and house is on fire from aging parent care.

But your care management business success also depends on the third parties who will refer these sometimes-desperate adult children who have the hair on fire. These would be defined as client representatives or third parties. They include targets who you expect to refer older people and their families to you including concierge physicians, elder-law attorneys, trust officers/wealth managers, senior services information and referral agencies, hospital-based care managers, accountants, and upscale assisted living. What you have to do is collect the numbers. The greater number of elder law attorneys who refer adult children to you, the better the chances of your success at your GCM or aging life business.

If you want to know the number of elder-law attorneys in your community, search online for the National Academy of Elder Law Attorneys and enter the zip code of the location and border areas where you intend to start your business, and you will find a list of elder-law attorneys.
Other third party referral sources can be harder to find. Wealth managers can take some digging. private duty home care is a referral source but they may already be doing care management as well. So that takes calling them all or looking at their website and seeing if they advertise a care manager in their services.
The market assessment section should also include your own research into the needs of the area. Who else is providing similar or related services in your target market? Why do you think the local target market needs this business? Will older people in the area be able to afford your services?
Finally, calculate the total market opportunity in your geographic area in terms of the expected total market and how much you believe your business can earn from that total possible market.
If you need help calculating all this, take my newest webinar

Find about my new webinar 

GPS to a Profitable GCM Business Start Up    

scheduled for May 9th 11:00 AM PST- 90 minutes

  • Learn how to do your market sizing and competition survey and learn whether you have enough customers in your area to start your care management business. Don’t Guess and fail.

Filed Under: Aging, Aging Life Care, aging life care manager, Blog, care management market sizing, care management start-up, care manager, case manager, competition survey, elder care manager, Families, GCM Start -Up, Geriatric Care Manager, geriatric care manager, Webinar Tagged With: againg life care manager, care manager, case manager, competition survey, eldercare manager, geriatric care manager, start up geriatric care manager

Afraid of Your Competition ??- What You Can Actualy Learn From Them

April 8, 2017

In your non-profit competition survey ,you should also identify and survey  other  direct GCM competitors like the area agency on aging  which may have a GCM arm or for profits like accountants or elderlaw attorneys who include geriatric care management in their service mix .

Identify substitute providers like hospitals, often through their home health services.   These can also be part of your competition to take market share from you. Private duty home care agencies offer  geriatric care management to their web site. But you have to discover  whether they have  a certified aging life geriatric care manager  as part of their staff. Tracking this down takes calling all of these agencies and talking to the actual geriatric care manager and asking for their credentials. Professional Patient advocates  in your area should also be tracked as possible competitors.

Non profits often spin off for profit geriatric care management arms to help with the more needy clients they serve. Many religious denominations have geriatric care as a choice so you can learn how they are leveraging their brand. Area Agencies on Aging offer private geriatric care management and can do a good job of leveraging their respect and brand in the community.

Trust departments or wealth management services can have care management to assist with their elderly clients or the adult children in the wealth management , who care for their parents.

All these competition surveys  will recommend marketing/positioning alternatives in your this competitive landscape. They will show how to to better brand and co-branding, what price point you can use in your area, is your competition on 24 call, do they charge for mileage and most of all how you can position your GCM agency to be chosen by clients seeking care over your competition.

Find about my new webinar 

GPS to a Profitable GCM Business Start Up    

scheduled for May 9th 11:00 AM PST- 90 minutes

  • Learn how to do your market sizing and competition survey and learn whether you have enough customers in your area  to start your care management  business . Don’t Guess and fail.

Filed Under: Blog, competition survey, Geriatric Care Management Business, Geriatric Care Manager Tagged With: aging life care manager, care manager, case manager, competition survey, geriatric care manager, nurse care manager

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