Home health care franchise is becoming a good business venture nowadays. It is actually among the top five most profitable franchises in the US. If you are actually planning to invest on a business venture, you can start considering Home health care franchise. Comparing it to food franchising, it requires less capital and the “potential return’’ of investment is significantly higher. The amount paid for a new home health care franchise is only around 66,000 dollars as of 2012. It is not merely based on trends which make the business similar to a necessity such as food as more and more people would look for the service they offer. This is what makes it a strong and good business. Also, home health care franchise is not affected by the economy. Whether the GDP (Gross Domestic Product) or exchange rate is high or low, business will not be affected since the business is focused on giving care particularly to the elderly in which more and more people seem to look for.
How does home health care franchise work? What services do they offer? What makes it a good business venture? Here are some basic questions you may want to find out for you to appreciate this business.
Home health care franchise offers home health care service which can come in many terms such as domiciliary care, social care, or formal care. The main concept is to give care to people in their own home regardless whether the person required skilled or professional care or not. They exist to deliver care in to the clients own home rather than use residential, long-term or institutionalize-based nursing care. It is normally provided by a skilled nursing care provided by the home health agency or may exist independently. Home health care franchises focus on both professional care as well as life assistance services which are given by a home aide or care giver which are not really medical.
Professional home health care includes physical therapy, speech therapy, occupational therapy, wound care, medication teaching, pain management and disease education and management. Life assistance services are those aides in doing daily tasks such as meal preparation, medication reminders, laundry, light housekeeping, errands like shopping, transportation and companionship.
Most of the home health care franchises are informal with families and friends that are providing substantial amount of care. Formal revolves with health professional such as therapists, medical and social workers as well as mental health workers. It has become a very essential component of the post-hospitalization recovery process. It is able to provide thorough care for terminally ill patient which include hospice care. Majority of their clients would be elderly or seniors with children who have grown and become busy that they could not give thorough care for their parents. Rather than totally abandoning them without any help, they refer them to home health care franchises to assist the elders’ needs.
Home health care franchises accept payments from Medicare or Medicaid, long-term health insurance or paid by the person’s resources or their relatives. Majority of payment is acquired from Medicare around 710,000 dollars and the rest are from private health insurances or self-funding that costs around 235,000 dollars. Rest assured, you are more or less insured in availing home health care by the time you reach your senior years.
Now you see why it is a very good business venture. Most business owners of home health care franchise end up enjoying what they do. The concept is very easy. As long as you know other people’s needs (which are more or less same as yours) and know how to give care, you can start looking forward to a success in your business. Why will it last? Because you have an unending list of clients. Population of the elderly is continuously growing and majority of them would need home health care services. At the same time, people who are at this stage are very much capable to pay for the services no matter how much the cost as long as customers are satisfied.
If you are looking for home health care franchise or simply looking for companies that offer home health care services, I have here a list of home health care business open for franchise.
- Qualicare family home care
- Caring Transitions
- Home helpers (this is the number 1 senior care franchise in North America)
- Acti-Kare Responsive Home care
- Assisted Transition, LLC
- Caring Senior Service
- Comfort Keepers
- Home Instead Senior Care (among the topmost leading companies on home health care franchising)
- Interim Health care (the first and the finest senior care)
- Visiting Angels (with 400 franchise in 47 states)
- Preferred care at Home (offers medical and non-medical home health care)
I was not able to gather some information on some of the home health care franchise for your assignment. You can simply search on the information regarding these franchises in the internet and you’ll see and have everything you may wish to know.
Elderly have contributed a great part to how our world is today. The development is brought by their perseverance when they were young. It would have been better if the care given to them is free or best of given all by the people they worked hard for to return the favors (which is their children). However, the busy world we now belong in makes it difficult to do. As such, the home health care franchises are there at your service. Despite having senior as their major patients or customers, you cannot tell when you may need them especially after being hospitalized due to some unwanted event. And as I have said earlier, it is a good business venture to anyone especially to women like us who are more expert in giving care towards other people. Our sensitivity, concern, and sincerity to give care can be considered as the greatest asset for this business. There are some patients who after recovery have started the business and are now enjoying the fruit of their labor at the same time spreading care to their clients. If they made it, so can you.