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Medicare

Starting a Home Healthcare Agency

Starting a Home Healthcare Agency and the Home Healthcare Business Plan

Our Home Healthcare Business Plan expertise will guide through Starting a Home Healthcare Agency or a Change in Ownership (CHAO). OurHome Health Care Business Plan expertise will help you understand the businesses, home care revenue/expense calculators, and our Home Healthcare Business Plan business forms, templates and caregiver training manual will help and guide you along your journey by saving you time in staring a Home Healthcare Agency. This is one resource you won’t want to be without when staring a Home Healthcare Agency.

Staring a Home Healthcare Agency, medical and non-medical, is on the rise as the first wave of Baby Boomers leading the “Silver Tsunami” will hit in 2011. With life expectancies longer than even a generation ago, the number of people in the US aged 65 or older is expected to be 71 million by 2030 – more than twice what is was in 2000. Now is the perfect time to capitalize on this trend and staring a Home Healthcare Agency.

As the Baby Boomer generation ages, the need for home care services increase. If you are interested in Starting a Home Healthcare Agency to provide service to the baby boomers, you will definitely have a Home Healthcare Business Plan. Starting a Home Healthcare Agency seems to be one of the biggest trends in helping fill the current home health care shortage.

If you are an existing home health care business owner, an entrepreneur that’s Starting a Home Healthcare Agency, or simply want to become an Independent Nurse,  Personal Care Worker, or Caregiver Contractor you will likely be asking: “Where do I start?”, “How do I create a Home Health Care Business Plan?”, “What tools do I need?”, “What guides, documents, procedures, forms, and templates are available to help me start or improve my Home Healthcare Business Plan?”

Starting a Home Healthcare Agency – Don’t Go it Alone

One of the most challenging parts of Staring a Home Healthcare Agency is Home Healthcare Business Plan required by ACHA along with your Proof of Financial Ability to Operate. Knowing how to start a home care business quickly and cost effectively, creating a Home Health Care Business Plan and developing all the required home health care documents, forms, templates, and manuals that allow you to operate your business professionally and efficiently. If you’re ready to start your home health care business, you want to start with a Home Healthcare Business Plan. The easiest way to do this correctly is to follow a professional’s advice. A VieraCPA we’ve been preparing Home Health Care Business Plans for over 20 years.

If you want to get your medical or non-medical home care business started quickly and easily while eliminating as many mistakes as possible you will benefit from ourHome Healthcare Business Plan expertise. It includes theHome Healthcare Business Plan along with the  Proof of Financial Ability to Operate form 3109 required by AHCA.  The Home Health Care Business Plan is professionally prepared by a CPA with over 20 years in the industry. TheHome Healthcare Business Plan FULLY CUSTOMIZABLE to meet your business model and contemplated services offering.

Starting a Home Healthcare Agency, medical or non-medical, home health care business could be the right business opportunity for you. If you are uncertain a home care business is for you, and want to know how to start a home care business, our home care business experts can guide you. At VieraCPA we have the expertise that will help you make that decision. And, if you decide to go ahead, then it will be a tremendous asset and save you a lot of trial and error headaches. Whether you’re just starting out, need funding or want to monitor the health of your home care business, creating a Home Health Care Business Plan is your first step on the path to success. Our CPA’s and Accountants diligently research your plans and it’s backed by over 20 years of home health care management experience. Our Home Healthcare Business Plan will guide you and put you on the fast track in starting a home health care business.

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Business Trends

Sample Healthcare Business Plan

Healthcare Business Plan

For application of licensure with AHCA and certification with Medicar

As Miami Healthcare Accountants specializing in Healthcare Accounting, we prepare custom Healthcare Business Plan for startup Home Healthcare Agencies or Change of Ownership. VieraCPA have been Healthcare Accountants for more than 20 years. We provide a wide range of Healthcare Accounting services to HHA throughout Florida.

AHCA now requires a Healthcare Business Plan along with the Proof of Financial Ability to Operate for new HHA’s or change of ownership to be prepared by a CPA. The Healthcare Business Plan requires very specific knowledge of healthcare accounting which our Healthcare Accountants are diligent in keeping up with every new law.

We have prepared a partial sample Healthcare Business Plan to help Home Healthcare Agency owners understand the requirements and in depth analysis required by AHCA. The Healthcare Business Plan should start with the Executive Summary.

“EXECUTIVE SUMMARY”

XYZ Corp. is a Home Healthcare Agency, organized on June 1, 2011 as a private for profit corporation looking to be licensed by AHCA in Florida and certified by Medicare and Joint Commission accredited.

XYZ Corp. is planning on operating a Home Health Agency in the Miami-Dade Area and licensed by AHCA in Florida and certified by Medicare and Joint Commission accredited.

The initial capital contribution, as calculated on Form 3100-0009 AHCA Proof of Financial Ability to Operate, is $000,000 to be deposited in full prior to submission of licensed by AHCA in Florida and certified by Medicare and Joint Commission accredited, prepared and signed by a Healthcare Accountants CPA. (read more….)

The Healthcare Business Plan should continue with the objectives and mission statement section which looks something like this:

“OBJECTIVES”

The objectives of the company are:

1)      Recruit and train a specialized technical force to provide Skilled Nursing, Therapies and Home Health Aide services beyond the expected standard.

2) Develop among the company personnel a culture of efficiency, work quality and personal responsibility on service rendered.

“MISSION”

XYZ Corp. is dedicated to providing quality home health care and other health services to patients in Florida, offering a high level of professionalism, efficiency and compassion; complementing services provided by hospital, doctor’s clinics and other health institutions that require home care.

Next we have to get into the nuts and bolts of Healthcare Accounting and projected revenue streams:

“SERVICES TO BE PROVIDED”

The company plan to offer the following services:

a) Skilled Nursing at RN and LPN level

b) Home Health Aide and CNA

c) Physical Therapy

d) Occupational Therapy

e) Social Worker Services

f) Speech Therapy

The Market Analysis is the most complex and where we as Healthcare Accountants with over 20 years of Healthcare Accounting experience really add value. The Healthcare Business Plan market analysis data is statistical in nature. Here is a sample:

“MARKET ANALYSIS”

The State of Florida has, an estimated population of 18,801,310 in 2010: from this total about 17.2 % are 65 or older (U.S. Census Bureau, Quick Facts).

However, projections show that that percentage will grow even more 13.82% by 2015 and 2030 (taken from Data on County Aging Services Needs Assessment, University of South Florida, October 3, 2007), even the Florida state general population rate of increase in the last 8 years was over 14.7% and the above mentioned projection foresees a growth of over 15% from 2000 to 2010. It is our conclusion that the market for serving the needs of older population (those over 65) will have an increase in demand in these Counties in the next 5—10 years.

The Healthcare Business Plan continues with Level of Competition, Market Strategy, Timeline, Personnel, Recruiting & Retention Strategy, Admission Policies and more.

If you’re thinking about starting or buying an HHA, give us a call for a free initial consultation.

Good Luck!

Gustavo A Viera CPA

 

Categories
Business Trends

Healthcare Accounting Strategies for Process-Based Cost Reduction

Healthcare Accounting Strategies for Process-Based Cost Reduction

Facing mounting Healthcare Accounting financial pressures and a payment system increasingly focused on quality of care over volume, Home Healthcare Accounting HHA’s are realizing that traditional Healthcare Business Plan cost-containment efforts directed at line-item cuts in labor and supply purchase prices are neither sufficient nor effective long term Health Care Business Plan . To create sustainable levels of improvement, Home Healthcare Agencies Healthcare Accounting need to approach Healthcare Accounting cost reduction from a more strategic viewpoint and change processes of care so they can better utilize resources and capture efficiencies. Following such an approach isn’t easy. All too often, process based cost-management  Healthcare Business Plan initiatives fall victim to inadequate goals, poor understanding of progress, and insufficient physician and executive support. With this in mind, the following report focuses on ways Home Healthcare Agencies Health Care Business Plan are structuring their decision making to avoid these common pitfalls and various strategies for uniting clinical and financial leadership to create and support cost-effective process change.

Healthcare Accounting Need for Process-Focused Cost Management

Formal examination of Healthcare Accounting cost management processes is becoming increasingly important to Home Healthcare Agencies and Health Care Accounting Healthcare Business Plan for a number of reasons. Optimizing financial performance is key as the industry struggles with the effects of a continued weak economy, including a rise in the number of self-pay; stagnant or declining revenue from outpatient services as consumers with high-deductible health plans put off elective care; and reduced Medicaid payments as state governments wrestle with massive budget deficits.1 At the same time, demands on capital remain high as organizations seek achieve electronic health record meaningful use and deal with the ongoing need to invest in facility upgrades or expansion. For the past several years, Healthcare Accounting cost-containment efforts have concentrated largely on traditional Healthcare Accounting targets, such as supply costs and labor. For the most part, Home Healthcare Accounting have been trimming supply costs by negotiating lower prices and more advantageous contracts, standardizing product choices, engaging physicians in supply-chain projects, and holding departmental managers accountable for supply costs and savings. Labor reductions have focused on reducing staff, reducing contributions to retirement plans, and freezing or cutting salaries. These Healthcare Business Plan avenues for cost control are narrowing, however. As leadership has gathered the “low-hanging fruit” with intense scrutiny of line items, the need for more substantial, year-over-year savings continues. As a result, healthcare executives are focusing increasingly on Health Care Business Plan process reengineering. More than 80 percent of HFMA Healthcare Financial Pulse survey respondents believe process improvement will be a core cost-management Healthcare Business Plan strategy for the foreseeable future.2 Payment change is a key factor driving Home Healthcare Agencies’ need for a more sophisticated approach to cost management. Home Healthcare Agencies have always pushed for efficiency while supporting patient safety and clinical quality, but with payment change, these efforts have taken on new levels of financial urgency. Quality and patient satisfaction are being factored into Medicare payment, while private payers are pushing for performance-and risk-based payment structures, capitated contracts, and pay-for-performance incentives. In this environment, reducing expense is not enough. Leadership also needs to ensure these efforts support delivery of high-quality care. As Home Healthcare Agencies adapt to these process-focused, value-driven shifts in cost management, key will be developing the right structures for collaborative decision making, setting priorities, tracking improvement, and creating widespread systems of accountability.

Healthcare Accounting and Business Plan & Decision Making

Healthcare Accounting Cost control should no longer be considered a unilateral function of the administrative or financial side of an organization. It should factor in both clinical and a Health Care Accounting financial processes and their linkages so cost cutting can streamline service delivery without compromising quality. Cost management decisions should therefore rely on input from financial and clinical leadership. At University of Alabama (UAB) Hospital, Birmingham, one of the top 20 largest academic medical centers in the United States, leadership has aligned strategic and business imperatives with the organization’s pillar goals of quality, satisfaction, and finance. The organization’s three- to five-year strategic Health Care Business Plan financial forecast projects anticipated growth and determines the related timing with which efficiency gains need to be realized. “Key leadership, which includes the CEO and the board, establishes the strategic plan,” says CFO Mary Beth Briscoe. “We evaluate market share and anticipated changes in payment to determine the magnitude of required operational improvements. From this strategic overview, we develop more tactical plans to achieve the improvements within our three pillar goals.” For key initiatives, University Hospital first forms an oversight or executive committee with members from various disciplines, which includes nursing, medical staff, finance, and operations. This committee provides perspective on the effects of any changes in policies and practices and identifies any potential fallout or unintended consequences. Critical initiatives utilize a project management framework and are led by appropriate clinical and non-clinical leadership. An executive steering committee may include clinical chairs and department heads. “This is the key strategic committee that reviews and evaluates all recommendations and determines the optimal implementation plan,” says Briscoe. “Their charge is to ensure that all perspectives are considered, identify barriers to change, provide guidance on eliminating or mitigating those barriers, identify alternatives, and execute change.” Members of this group are carefully selected. “To be successful, all stakeholders must have a representative in the process,” says Briscoe. “We choose strategic, broad thinkers—people who can think longitudinally across the process and the organization and who have influence to affect process change.” The group is committed to ensuring process changes do not compromise clinical outcomes, safety, or satisfaction for the sake of cost reduction and that the net impact of any process change is beneficial to the hospital and patients. “It is only at this point, once the organization has gathered the correct information, assessed the alternatives, and evaluated the impact on cost, quality, and satisfaction, that it is ready to implement change,” notes Briscoe.