Cathy Cress

Expert in Aging Life and Geriatric Care Management

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Geriatric Care Management Business?Want to Start one?

February 7, 2023

Want to Start a New Geriatric Care Management Business?

 A care management business can be started by an RN, a social worker, someone in the health field, or anyone with dreams to become an entrepreneur.

But what skills do you need? Your entrepreneurial care management dream must spring from the intersection of three streams: your passion, your competence, and market opportunity. To start a geriatric care management business, the adage to “know thyself” becomes critical. Are you passionate about geriatric care management? You will need passion to sustain you when the situation gets tough—which it does in all beginning businesses. You must have the core competence both to be a geriatric care manager (GCM) and to run a business. But good GCMs with no business acumen, which is often the case, frequently fail in business. 

Is Starting a New geriatric Care Management Business a Good Choice for You?

To start of new care management business you need market opportunity, which is a business skill. In other words, are there enough people in the top 10% of the area plus third parties who will refer to you like elder law attorneys, concierge physicians, and unscale assisted living you serve to have a”market” to have sales and generate a profit? If very few older people in the upper 10% live in your services area, you may not be in the right place to start a new geriatric care management business. If 10 other GCMs are practicing in your town, the

An entrepreneur geriatric care management business?

competition may limit your own market opportunity.  You find out by doing a competition survey Finally, you need to assess why you want to start this type of business in the first place. Are you motivated by financial gains? by community recognition? by a need to make a difference? 

In a New Geriatric Care Management Business

You Have To Know Cash Flow

An entrepreneur care management business owner must understand billing and cash flow.  This is another key business skill needed by a care manager. Without this knowledge, you will fail like 50% of new businesses do. Along with this, you have to understand how to bill 85% of your care manager’s time to stop cash flow from putting you out of the business. This leads to overall financial forecasting skills. When do you break even, when can you hire a new care manager and afford to stop being a solo practitioner who wears so many hats you are crushed by the weight?

 

A new geriatric care management business

Do You Know The Best Phrases To Attract VIP Care Management Clients?

Learn Billing and Financial Forecasting and More in my new online Start-Up GCM Business Class 

 

Billing for new geriatric care management business

Most care managers have no business background because they are nurses, social workers, and health professionals without an MBA. Yet their business depends on cash flow, marketing opportunities, and financial skills to pay the bills

 

 

Get Critical New Geriatric Care Management Business Skills in My GCM Business Class

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

  • GET 100$ DISCOUNT ON CLASS IF YOU BELONG TO ALCA

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 cash flow -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  market opportunity, your area’s upper 10% clients, and 3rd-party referrals to market, to make your business profitable
  • GCM competitive analysis skills  to do a competition survey set the fee per hour your market will bear for your services and gage your market opportunity and  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
  • An entrepreneur geriatric care management business
  • 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
  • LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA 

  • GET 100$ DISCOUNT ON CLASS IF YOU BELONG TO ALCA

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

 

 

Filed Under: Aging, aging life business, Aging Life Care, Aging Life Care Assocaition, aging life care manager, ALCA Business Skills, ALCA Ethical Dilemma, ALCA Financial literacy, billing, billing 85% of GCM hours, Black Entrepreneur, Black Entrepreneur RB, Black Entrepreneur RN, Black entrepreneurs, Black Geriatric Care Manager, Black geriatric care managers, Black RN, Black Travel Nurses, Black Travel RN, Blog, care management start-up, care manager, case manager, elder care manager, entrepreneur, entrepreneur business, entrepreneur care manager, entrepreneur RN, Families, Geriatric Care Management Business, geriatric care manager, Geriatric Care Manager, geriatric social worker, marketing ALCA /GCM, Marketing Strategy, marketing to upper 10%, MONEY FOR GCM BUSINESS, nurse advocate, nurse care manager, Sales in geriatric care management, social media marketing campaign, START UP, start up geriatric care management business, start-up, Start-up Marketing, Starting care management business, Webinar Tagged With: affordable payment plan, aging business, aging life and geriatric care management, aging life care managers, Aging Life Or GCM Products, black american geriatric care managers, black american social workers, Black Entrepreneurs, Black geriatric care managers, Black RN's, Black start-up geriatric care management, Black travel nurses, business start up, care management, critical success factor For GCM or Aging Life business, elder business opportunity, entrepreneur, GCM Business Class, GCM Subscription Plan, geriatric care management business, geriatric care manager, profitable ALCA business, Profitable GCM business, Society of Senior Advisors, start -up elder business, start-up geriatric care management aging life care manager, starting a GCM business, Subscription Model

Want To Start a Profitable New Geriatric Care Management Business?

May 13, 2022

Want to Start a new geriatric care management business?

A new geriatric care management business can be started by an RN, social worker, someone in the health field, or anyone with dreams to become an entrepreneur.

But what skills do you need? Your entrepreneurial care management dream must spring from the intersection of three streams: your passion, your competence, and market opportunity. To start a geriatric care management business, the adage to “know thyself” becomes critical. Are you passionate about geriatric care management? You will need passion to sustain you when the situation gets tough—which it does in all beginning businesses. You must have the core competence both to be a geriatric care manager (GCM) and to run a business. But good GCMs with no business acumen, which is often the case, frequently fail in business. 

Is Starting a New geriatric Care Management Business a Good Choice for You?

To start of new geriatric care management business you need market opportunity this is a business skill. In other words, are there enough people in the top 10% of the area plus third parties who will refer to you like elder law attorneys, concierge physicians, and unscale assisted living you serve to have a”market” to have sales and generate a profit? If very few older people in the upper 10% live in your services area, you may not be in the right place to start a new geriatric care management business. If 10 other GCMs are practicing in your town, the

An entrepreneur geriatric care management business?

competition may limit your own market opportunity.  You find out by doing a competition survey Finally, you need to assess why you want to start this type of business in the first place. Are you motivated by the financial gains? by community recognition? by a need to make a difference? 

In a New Geriatric Care Management Business

You Have To Know Cash Flow

An entrepreneur care management business owner must understand billing and cash flow.  This is another key business skill needed by a care manager. Without this knowledge, you will fail like 50% of new businesses do. Along with this, you have to understand how to bill 85% of your care manager’s time to stop cash flow from putting you out of the business. This leads to overall financial forecasting skills. When do you break even, when can you hire a new care manager and afford to stop being a solo practitioner who wears so many hats you are crushed by the weight.

 

A new geriatric care management business

Do You Know The Best Phrases To Attract VIP Care Management Clients?

Learn Billing and Financial Forecasting and More my new on-line Start-Up GCM Business Class 

 

Billing for new geriatric care management business

Most care managers have no business background because they are nurses, social workers, and health professionals without an MBA. Yet their business depends on cash flow, marketing opportunities, and financial skills to pay the bills

 

 

Get Critical New Geriatric Care Management Business Skills in My GCM Business Class

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-u 

 

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 cash flow -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  market opportunity, your area’s upper 10% clients, and 3rd-party referrals to market, to make your business profitable
  • GCM competitive analysis skills  to do a competition survey set the fee per hour your market will bear for your services and gage your market opportunity and  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
  • An entrepreneur geriatric care management business
  • 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
  • LEARN MORE ABOUT LEARNING GCM BUSINESS SKILLS WITHOUT GETTING AN MBA 

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

 

 

Filed Under: Aging, aging life business, Aging Life Care, Aging Life Care Assocaition, aging life care manager, ALCA Business Skills, ALCA Ethical Dilemma, ALCA Financial literacy, billing, billing 85% of GCM hours, Black Entrepreneur, Black Entrepreneur RB, Black Entrepreneur RN, Black entrepreneurs, Black Geriatric Care Manager, Black geriatric care managers, Black RN, Black Travel Nurses, Black Travel RN, Blog, care management start-up, care manager, case manager, elder care manager, entrepreneur, entrepreneur business, entrepreneur care manager, entrepreneur RN, Families, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, marketing ALCA /GCM, Marketing Strategy, marketing to upper 10%, MONEY FOR GCM BUSINESS, nurse advocate, nurse care manager, Sales in geriatric care management, social media marketing campaign, START UP, start up geriatric care management business, start-up, Start-up Marketing, Starting care management business, Webinar Tagged With: affordable payment plan, aging business, aging life and geriatric care management, aging life care managers, Aging Life Or GCM Products, black american geriatric care managers, black american social workers, Black Entrepreneurs, Black geriatric care managers, Black RN's, Black start-up geriatric care management, Black travel nurses, business start up, care management, critical success factor For GCM or Aging Life business, elder business opportunity, entrepreneur, GCM Business Class, GCM Subscription Plan, geriatric care management business, geriatric care manager, profitable ALCA business, Profitable GCM business, Society of Senior Advisors, start -up elder business, start-up geriatric care management aging life care manager, starting a GCM business, Subscription Model

Video-What Business Skills Must You Have for an Aging Life or GCM Start-up?

March 25, 2021

 

If you a Nurse, Social Worker or Aging Care Professional or Business Entrepreneur and want to start a profitable Aging Life / Geriatric Care Management agency

What Business Skills Do You Need?

A new geriatric care management business must spring from the intersection of three streams: your passion, your competence, and market opportunity. To start a geriatric care management business, the adage to “know thyself” becomes critical. Are you passionate about geriatric care management? You will need passion to sustain you when the situation gets tough—which it does in all beginning businesses. You must have the core competence both to be a geriatric care manager (GCM) and to run a business. Good GCMs with no business acumen, which is often the case, frequently fail in business. You must also have the market opportunity.

Is This a Good Choice for You?

If very few older people live in your community, you may not be in the right area to start a geriatric care management business. If 10 other GCMs are practicing in your town, the

competition may limit your own market opportunity. Finally, you need to assess why you want to start this type of business in the first place. Are you motivated by the financial gains? by community recognition? by a need to make a difference? 

You Have To Know Cash Flow

You especially must understand billing and cash flow. Without this knowledge, you will fail like 50% of new businesses do. Along with this, you have to understand how to bill 85% of your care manager’s time to stop cash flow from putting you out of the business. This leads to overall financial forecasting skills. When do you break even, when can you hire a new care manager and afford to stop being a solo practitioner who wears so many hats you are crushed by the weight.

 

Learn Billing and Financial Forecasting and More my new on-line Start-Up GCM Business Class

Most care managers have no business background because they are nurses, social workers, and health professionals without an MBA. Yet their business depends on cash flow and financial skills to pay the bills

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

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

 

 

Filed Under: Aging, aging life business, Aging Life Care, Aging Life Care Assocaition, aging life care manager, ALCA Business Skills, ALCA Financial literacy, billing, billing 85% of GCM hours, care management start-up, care manager, case manager, elder care manager, Geriatric Care Management Business, Geriatric Care Manager, geriatric care manager, geriatric social worker, marketing ALCA /GCM, Marketing Strategy, marketing to upper 10%, MONEY FOR GCM BUSINESS, nurse advocate, nurse care manager, Sales in geriatric care management, START UP, Webinar Tagged With: affordable payment plan, aging business, aging life and geriatric care management, aging life care managers, Aging Life Or GCM Products, business start up, care management, critical success factor For GCM or Aging Life business, elder business opportunity, entrepreneur, GCM Business Class, GCM Subscription Plan, geriatric care management business, geriatric care manager, profitable ALCA business, Profitable GCM business, start -up elder business, start-up geriatric care management aging life care manager, starting a GCM business, Subscription Model

Do You Have An Ethical Dilemma About The Cost Of Private Care Management? $?

March 19, 2020

GCM ETHICAL DILEMMA

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-?

PHYSICIAN’S ETHICAL DILEMMA LIKE GCM

The physician of the 20th century treated all patients rich or poor and did not have a business model. Today managed care physicians see everyone on Medicare, although many do not take Medicare iStock_000063346301_Medium-1.jpgbecause 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 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. So here ‘s the rub.

HERE IS THE RUB FOR ALCA OR AGING LIFE

That business cannot prosper if the aging life or GCM does not have long term 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 an ethical dilemma. It turns out that you must serve clients long term to make your aging life or geriatric care management thrive. You also must serve clients in the upper 10%  because we have no national insurance that covers geriatric care management or any long term care.

Statistics support this financial inequity. Only 8% of Americans have long term insurance Medicare does not cover Long term care. The top 20% of Americans own 86% of the country’s wealth and the bottom 80% of the population owned 14%. In 2011, financial inequality was greater than inequality in total wealth, with the top 1% of the population owning 43%, the next 19% of Americans owning 50%, and the bottom 80% owning 7%.

According to Christopher Ingraham/The Washington Post, in 2019 the 400 richest Americans now own more than the bottom 150 million causing huge financial inequity. (Christopher Ingraham/The Washington Post)The top 0.1% in 2019 own more than than the bottom 80% 

GCM OR ALCA CAN ONLY BILL THE WEALTHY

So only the upper 10% can afford those fees long term. ALCA experts Bob OT’oole explains this quite clearly. Bob Toole a long term member of ALCA, documents this quite clearly in Private Revenue Sources for Fee-Based Care Managers Need vs. Demand in Eldercare in the 4th edition of Handbook of Geriatric Care Management.

Although you began an ALCA or GCM business this is the reality you must practice in. You must reach out to wealthy elders who can afford and sustain you. Find out How

Join me in my newest Free Webinar 

Webinar-Sales and Marketing to Find the VIP Concierge Client

March 31, 2020 -2PM -3:30 PM PST

Concierge Clients are the only way a GCM or ALCA care manager can make a profit and have their business thrive. Find out who are they, how you find them, design GCM Products they will purchase, and create a marketing plan and gold standard services to have them sign your contract and use your services long term

Learn

Who They Are- 4 Types

How to Locate them in your service area

How to create a strategic marketing plan to sell to them

How to Develop Gold Standard GCM Products and Services

Sign Up Now

 

 

Filed Under: Aging, aging life business, Aging Life Care, Aging Life Care Assocaition, aging life care manager, billing, Billing 85%, cash flow, Concierge Senior, elder care manager, ETHICAL DILEMMA, Geriatric Care Management Business, Geriatric Care Manager, geriatric social worker, marketing to the top 10$, marketing to upper 10%, MONEY FOR GCM BUSINESS, nurse advocate, nurse care manager, Webinar Tagged With: Aging Life Ethical Dilemma, care manager, geriatric care manager, My Geriatric Care Management Operations Manual, starting a GCM business

Ideas May Be a Dime a Dozen – Make Sure Your Care Management Start -Up Suceeds

January 5, 2020

Will You Sabotage Your Own GCM Start-Up?

Geriatric care management is a great business opportunity but many time start-ups sabotage their own success.  Care managers resist billing because of guilt- often coming from a social work or nursing background.

Want to start a geriatric care management agency?  First-test your business idea and do market research.Many find It helpful to Take a Start-Up GCM Business Class. 

The OLD adage goes, “ideas are a dime a dozen” 

How do you really know that starting a geriatric care management business is a good idea?

Have you hit upon a business that’s going to work on all levels?

To figure this out, before you start, you use planning methods. You test your idea by first defining the problem your geriatric care management agency is solving. How urgently do people need what you are selling?

iStock_000039948498_Medium.jpg

Build An Action Plan for Your GCM Business

You build an action model to test the assumption that you will be successful (make a profit) at running a geriatric care management business.

You create a marketing survey to find out if you have enough customers, a competition survey to see if you have too much competition and a financial projection to see if this is a business where you make really make money.

FREE Webinar

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 January 23, 2020

SIGN UP NOW  

 

 

 

 

Cathy Cress MSW

 

 

 

Filed Under: aging life business, Aging Life Care, Aging Life Care Assocaition, aging life care manager, Blog, care management start-up, care manager, case manager, GCM Start-Up, geriatric care manager start up, geriatric social worker, nurse advocate, nurse care manager Tagged With: aging life care manager, aging life care start up, business start up, care manager, case manager, eldercare manager, GCM start-up, geriatric care manager, nurse care manager, start-up geriatric care management aging life care manager, starting a GCM business

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