Steps for Starting a Home Healthcare Agency

Whether you are considering starting a home healthcare agency or are in the process, the following steps will guide you in the right direction and inform you of what to expect through the application process.

All in all, it takes about nine months to become authorities accepted as a home healthcare agency. Although beginning an agency is protracted, it isn't hard when you break down the process step by step.

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Steps for Starting a Home Healthcare Agency

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1. Set clear objectives: First, begin by determining which kind of supplier that you would like to be and exactly what type source(s) you need to utilize. Be clear on your aims and mission statement.

2. Know your competitors: Research their target audience, marketing strategies, internet presence, social networking strategies, business culture, doctor referrals, demographics, business size, and coverages, and processes.

3. Devise a business plan: Compose a 1-year, 3-year, and 5-year small business program. A good business plan can help you secure a business loan. In addition, it keeps you on course during the procedure.

4. Get insurance: Subscribe to insurance including workers' compensation insurance, liability insurance, and a surety bond.

5. Establish a formal business: Establish a business entity which can best fit your requirements. By way of instance, you may pick from a sole proprietor, partnership, limited liability, S corporation, and C company. Register a company name in the county and get a Federal Employer Identification Number (EIN) from the Internal Revenue Service (IRS).