Why More and More Healthcare Professionals Are Starting Personal Care Businesses.
The Business Hub (TBH) specializes in designing behavioral programs, policies and procedures that are essential to starting personal care businesses. As the President and CEO of this successful company, we are focused on designing programs that help people from all walks of life become entrepreneurs. As we’ve seen a jump in the number of clients approaching us for requests, projects and consultations, I started to wonder why.
Let me offer my thoughts.
The US Census Bureau indicates that between the year 2014 and 2060 the US population is expected to rise from 319 million to 417 million. This means an increase in the need for personal health care AND that of personal healthcare professionals. In response to this, MD’s, RN’s, LPN’s and nurse aids have seized the opportunity to open businesses such as home and companion care agencies, adult day programs and homes for Dementia and Alzheimer’s residents.
What is a personal care business?
Personal care businesses are solely dedicated to helping patients and clients in matters of health. The services offered in a personal care business can be referred to as; personal care home, adult day program, home, companion care company, nursing home, live-in care agency or healthcare staffing agency. Most personal care businesses provide health services that are in high demand. This can also be very rewarding and profitable too.
Some of the services offered in most personal care businesses include:
- Assistance with medication
- Ambulation, transfer and referral services
- Hygiene and grooming assistance
- Care coordination
Why is the number of healthcare professionals starting personal care businesses increasing each day?
Opportunities for starting personal care homes are huge. Currently, there are over 40 million Americans who are over the age of 65. According to the US Census Bureau, this number is projected to rise to 88 million by 2060. Healthcare workers presently work at ground zero with a front seat to clients receiving care as well as placements made through the social work department to group homes and assisted living facilities. Hence, the need for a home care service is primarily encountered by a healthcare professional working directly with the individual.
Personal care businesses will be in high demand as unfortunately, not everyone will be in the position to live independently. There are those who will be in need of home help or will need to reside in a residential environment like a group home. So, with the number of seniors in need of personal care expected to more than double by the year 2030 TBH has been busy assisting a number of healthcare professionals.
Other reasons why health care workers are starting up personal care businesses:
1. High wages potential
A personal care business can be both profitable and rewarding. Patients with personalcare needs will require a level of assistance not always available in some health
facilities. With an efficient personal care home, one is able to offer a wide range of services which can result in a steady and favorable income. Especially, when you are providing quality care with exceptional employees.
Starting a personal care business doesn’t require a huge sum of cash. It can even begin by taking advantage of PayPal Credit or the THB in-house finance option.Both are excellent ways you can fund your project while controlling the outlay of limited funds.
3. Opportunities for career expansion
When employed in general healthcare setting, most health professionals do not get a chance to expand in their field of medical studies. With their own personal care businesses, healthcare workers can expand their careers, set their own goals and realize a different level of living.
Professional healthcare workers get to deal with clients directly and are exposed to what areas they need to improve on.
It’s rare to find a medical facility specializing in one area of healthcare. As a business owner, you can choose to start up a personal care business that is in line with your area of expertise. For example, many nurses who deal with critical care in a hospital setting have chosen to open medical and memory fragile group homes or even care agencies that specialize in dealing with clients that have a higher levels of care needs.
6. Ability to balance work and life
As a healthcare worker, the days can be long and very busy. During an off day, thereis a chance of being called in during an emergency. With a personal care business, you develop your own schedule with an ability to make sure your work/life balance is beneficial to you.
7. Choosing the right kind of people to work with
Healthcare professionals get to mix with other professionals in the field. With friends and colleagues who are experts in different health care fields, there’s access to a number of potential experts at their fingertips.
Our success is a result of word of mouth referrals from the countless professionals we have helped to shape and mould their businesses. As an RN and program design expert, I take great pride in being a part of TBH and being able to positively change people’s lives by facilitating business ownership is what I would call a blessing. Toobtain consultation, please visit our website at: https://www.designmyprogram.com.
With the ever growing population and economy, the number of healthcare professionals venturing into personal care businesses will continue to thrive. Taking your career into your own hands and crafting a retirement plan is an option that should not be missed. I have done the research for you and many reading this blog will already know what I’m speaking about. Don’t wait for the opportunity- go out and create it.
Get a consultation today and let us design YOUR program.