Starting a Home Healthcare Agency Offering Skilled and Non-Skilled startups are on the rise as the Baby Boomers leading the Tsunami will hit in 2020.
Home health agency business plan
Home health agency business plan needs to demonstrate that you have thoroughly considered all aspects of running your HHA Home Health agency.
Whether you are planning to start a new AHCA Home Healthcare Agency, or in the process of a change of ownership you will need to have an Home health agency business plan for approval. This new requirement took effect this year. An AHCA Home Healthcare Agency Business Plan requires very specific content that is tied into your Proof of Financial Ability. The Business Plan also lends your Agency a sense of credibility and a great blueprint on how you plan to manage and market the company which increases your chances of success. Although writing a business plan can be a lengthy, intimidating project, it is not necessarily difficult.
Market Analysis: The next section of your Home health agency business plan focuses on market analysis. In order to show that your business has a reasonable chance for success, you will need U.S. Census Bureau data on your state’s population and what percentage of the population is over 65 years of age. Furthermore, you’ll need statistical projections on what percentage of the population of the State and your County requires or are eligible for your Home Healthcare services Your market analysis should describe the industry, including the size, growth rate, and trends that could affect the industry. This section should also describe your target market that is, the type or group of customers that your company intends to serve. The description of your target market should include detail such as Distinguishing characteristics
- The needs your company or product line will meet
- What media and/or marketing methods you’ll use to reach them
- What percentage of your target market you expect to be able to wrest away from your competitors
Level of Competition: Your Home health agency business plan must include market analysis and results of any market tests you have done, and an analysis of the strengths and weaknesses of your competitors.
PERSONNEL QUALIFICATION: Once you have described the nature and purpose of your company, you will need to explain your staff setup. This section at a minimum should include a bio.
ADMISSION POLICY: Each patient will require and referral and initial verbal order for home health services from the referring physician. If the patient’s payer source is Medicare the patient will be required to be homebound for home care services to be reasonable and necessary.
Preparation of AHCA Proof of Financial Ability to Operate Form 3100-0009. State Statutes require applicants to show anticipated provider revenue and expenditures, the basis for financing anticipated cash-flow requirements of the provider, and an applicant’s access to contingency financing. All schedules must be prepared in accordance with generally accepted accounting principles (GAAP).