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

If You are a Concierge GCM -Do You Defer to ALL Your Wealthy Clients Demands?

February 6, 2019

affluentseniors.jpg

 

 

If you are a geriatric care manager serving concierge clients ,do you have to defer to all their needs and be subservient?  Let’s look at the Concierge Physician.
If you are a concierge physician, do you change their practice of medicine?  Quite simply no.

They do not tell the concierge client- what they want to hear. They do not prescribe drugs that the concierge patient wants instead of needs. They do not submit to the VIP syndrome shown by physicians in Joan Rivers, Prince or Michael Jackson’s deaths.They continue to practice as doctors with the same skills, ethics, and tools they have with any patient.

What do they change? The change the way they deliver their medical practice.  They offer personalized care and enhanced service. They take calls swiftly and they make house calls. They resuscitate the patient doctor relationship.

They change their billing model.  They do not bill Medicare or insurance and they do bill the client personally.

They change their client target market. They do not target everyone that needs their skills.  They target a demographic they can pay them privately, the upper 10%, Bob O’Toole Points out in his excellent chapter- Private Revenue Sources for the Fee-Based Care Manager- Need Vs Demand in the Elder Care Market- in The Handbook of Geriatric Care Management- 4th edition

1284078981.jpgThey still practice with the same boundaries, tools, and ethics. They do not let patients set the rules, defer to their defer to their demands.

They practice medicine as they were trained.

As a GCM with a concierge practice, you practice with the same skills, knowledge base and ethics you were trained to deliver.

What you must do though is target clients  in the upper 10% who can pay your hourly fees and home care (As concierge physicians do ), increase the personalized delivery of your GCM business, insuring care is delivered seamlessly by care providers who can meet the high standards of a concierge client under the direction of your care plan.

But you must market differently. You present a marketing pitch to third parties who can refer their clients to you. Part of that pitch is you serve the same demographic and will deliver gold standard service with boundaries to their clients. The other part of your marketing  presentation to those third parties is  telling them what benefits you will bring  to the third party themselves. For example for concierge physicians or elderlaw attorneys who want to refer clients to you- you will send them regular updates, work as a team with them, deal with dysfunctional difficult families issues , to help them deliver better services. 

Learn More

Join me in my new FREE Webinar
Learn to Sell Benefits not Features to Third Parties to Grow Your Care Management Bottom Line


When: MARCH 6, 2019
2PM-3PM PST
Learn

The problems you solve for 3rd parties so they will refer to to you.  

What is a benefit vs a features and how to find benefits for each 3rd party you market to?

What specific problems you solve for wealth managers, elderlaw attorneys and concierge physicians  

What specific problems to solve for upscale Assisted Living, accountants, financial planners, MD’s  

Step by Step how to set up meetings with 3rd parties to make the  sale

  • •Sign -Up –

 

 

 

Filed Under: Aging, aging life care manager, Blog, case manager, elder care manager, Families, Geriatric Care Management Business, Webinar Tagged With: Aging Concierge client, aging life and geraitric care manager, aging life care ethics, case manager, Concierge Aging Client, Concierge Geriatric care manager, Concierge Home Care, concierge physician, geriatric care manager, nurse advocate, nurse care manager

Do You Have a Marketing Message That Works for Concierge Seniors Who Need Geriatric Care Management?

August 9, 2018

affluentseniors.jpg

Concierge Seniors are the segment of the market ALCA and GCM practitioners must reach. Why because they are the only clients who can afford care management long term because it clost 4-5 thousane a month and Medicare does not cover it. 

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?

So How Do you reach these  top 10%  seniors?

 Aging life or geriatric care manager must offer  different benefits hyper-attention to seamless care to attract  athese top 10% concierge clients who can afford your services long term.

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 benefits to this democraphic must be communicated to the concierge customer

 The benefit’s include

You will  deliver exclutive professional solutions to the grueling aging care decisions families and clients must make so they will get the gold standard care they deserve

 

 Your your 5-star service offers expert professional answers for the tough choices aging family members must make about elder housing, medical care, personal care, quality of life, finances, end of life and the myriad mind-boggling decisions they face.

 

Your concierge marketing message must give this information to the client and the whole aging family in the support system and can transform the family and ensure you gain clients.

Learn 5 critical success steps to start or run a profitable, GCM business, including marketing to Concierge clients with your mission, from Cathy Cress MSW, the author of the Handbook of Geriatric Care Management now in its  4th edition.  Sign Up Now  

 

Sign up for this limited enrollment webinar that will teach you to sidestep the 8 out of 10 entrepreneurs who start businesses and fail within the first 18 months.

 

See you there.

Cathy Cress MSW

 

 

Filed Under: Aging, Aging Life Care, aging life care manager, Blog, case manager, Concierge aging clients, elder care manager, Families, Geriatric Care Management Business, Geriatric Care Manager, marketing care management, marketing to concierge clients, marketing to the top 10$, nurse care manager, Webinar Tagged With: aging family, aging life and geraitric care manager, aging life care manager, aging life care start up, aging life geriatric care manager, aging parent crisis, care manager, certified case manager, Concierge Aging Client, concierge care, geriatric care manager, geriatric social worker, marketing geriatric care, nurse advocate, nurse care manager, parent care crisis

Do You Have an Aging Life or GCM Ethical Dilemma of Serving Wealthy Entitled Clients?

August 4, 2017

affluentseniors.jpg

Targeting concierge clients puts geriatric care managers in a double bind. As a social worker, nurse or health professional practicing aging life or geriatric care management, the catch 22 you fall into is offering limited access to care management. Serving only the upper 10% was not part of our training. It was not part of our social belief system that all members of the community should have access to social and health care resources.

Restricting access to aging life or care management impacts 90% of older people’s ability to reach their full potential, negatively affecting their quality of life and further beats down unpaid family caregivers

But aging life or geriatric care manager chose to run a for profit business that depends on the top 10%.

Thus a paradoxical situation where geriatric care managers find themselves with contradictory goals.

Limiting access to geriatric care management to the upper 10% leads most Aging Life or geriatric care managers to an ethical dilemma.  Should we limit resources?

The physician of the 19th & 20th century treated all patients rich or poor and did not have a business model but a caring model. Today’ managed care physicians see everyone on Medicare, although many do not take Medicare because of the low payments. Access to the physician diminishes even more with the advent of the concierge physician, who uses a business model to only treat those elders who can pay privately, which ends up being the upper 10%

Most nurses and social workers who are aging life or geriatric care managers came to the field with inner core beliefs that health care should be available to all elders, yet they chose to start a business.They had a caring model. So here ‘s the rub.

That business cannot prosper if the aging life or geriatric care manager does not have long term concierge clients who can pay for it. The federal government does not fund the profession, so elders have limited access. Should you be part of this?

 

 Here is the ethical dilemma. It turns out that you must serve clients long term to make your aging life or geriatric care management thrive.

Learn more about how to solve this double bind.

Join my latest free webinar

  • Cathy Cress MSW, Author of Handbook of Geriatric Care Management- 4th edition. Webinar Series
  • Upcoming Webinar
  • Learn The 5 Steps to Reach the Concierge Client
  • August 23, 2017 11:00 -12:00 PST  
  • Discover how to transform your GCM entrepreneurial dream into a profitable reality with 5 key marketing steps learn more and get the details    
  • Overcome the double bind of your caring model and learn how to care and make money
  • Create a marketing strategy and messages that attract concierge clients 
  • Reach this target audience
  • Design products that exactly meet their needs
  • Obtain adult children’s buy-in           
  • Use words that will make them choose you
  • Get care staff they will like and not fire
  • Get the contract signed with ease

Sign -up for my free webinar 

 

 

Filed Under: Aging, aging life care manager, Blog, case manager, elder care manager, Families, Geriatric Care Management Business, Geriatric Care Manager, Webinar Tagged With: Aging Life Ethical Dilemma, aging life or geraitric care manager, aging life or geriatric care manager, certified case manager, Certified Senior Advisors, Concierge Aging Client, Concierge Care Manager, geriatric care manager, nurse advocate, nurse care manager, nurse navigator

If You are a Concierge GCM -Do You Defer to Your Wealthy Clients Demands?

July 24, 2017

GCM-pix-2.jpg

 

If you target concierge clients do you have to defer to all their needs and be subservient?  Let’s look at the Concierge Physician.
If you are a concierge physician, do you change their practice of medicine?  Quite simply no.

They do not tell the concierge client- what they want to hear. They do not prescribe drugs that the concierge patient wants instead of needs. They do not submit to the VIP syndrome shown by physicians in Joan Rivers, Prince or Michael Jackson’s deaths.They continue to practice as doctors with the same skills, ethics, and tools they have with any patient.

What do they change? The change the way they deliver their medical practice.  They offer personalized care and enhanced service. They take calls swiftly and they make house calls. They resuscitate the patient doctor relationship.

They change their billing model.  They do not bill Medicare or insurance and they do bill the client personally.

They change their client target market. They do not target everyone that needs their skills.  They target a demographic they can pay them privately, the upper 10%, Bob O’Toole Points out in his excellent chapter- Private Revenue Sources for the Fee-Based Care Manager- Need Vs Demand in the Elder Care Market- in The Handbook of Geriatric Care Management- 4th edition1284078981.jpg

They still practice with the same boundaries, tools, and ethics. They do not let patients set the rules, defer to their defer to their demands.

They practice medicine as they were trained

As a GCM with a concierge practice, you practice with the same skills, knowledge base and ethics you were trained to deliver.

 

 You just market differently, target clients who can pay your hourly fees (like concierge physicians), increase the personalized delivery of your GCM business, insuring care is delivered seamlessly by care providers who can meet the high standards of a concierge client under the direction of your care plan

Learn more by signing up for my upcoming free webinar August 23, 11 PST.

5 Steps to Sign Up the Profitable GCM Concierge Client “

 

 

Filed Under: Aging, aging life care manager, Blog, case manager, elder care manager, Families, Geriatric Care Management Business, Webinar Tagged With: Aging Concierge client, aging life and geraitric care manager, aging life care ethics, case manager, Concierge Aging Client, Concierge Geriatric care manager, Concierge Home Care, concierge physician, geriatric care manager, nurse advocate, nurse care manager

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