Starting a Hospice Business: 7 Helpful Tips to Getting Hospice Certified
So you’ve made the selfless decision to start a hospice business but don’t know where to start. How are you going to make the business successful? And how are you going to go about getting your hospice certified?
It can be a daunting task to ensure you meet all of the requirements. Hospice care is the type of facility in which elderly and terminal patients need to feel appropriately supported and comfortable in their final days.
But don’t worry, this article has all the information and seven top tips you need to bear in mind when starting a hospice business and getting certified. This will ensure you are on track to deliver an environment that is perfect for your patients, staff, and donors.
1. Work with a Hospice Business Consultant like Certified Homecare Consulting
If you are thinking about starting a hospice business, the most formidable hurdle can be making sure that your hospice gets certified and passes all the necessary regulations.
Take the stress out of your experience by working with home care and hospice business consulting professionals who are expertly knowledgeable in all areas of legislation and licensing.
Certified Homecare Consulting can guarantee your hospice license and Hospice Certification for Medicare.
Working with experts in the hospice business field gives you that level of security and confidence so that you can focus on other essential things.
2. Have a Comprehensive Hospice Business Plan
Even though you are providing a home care service, it can be easy to forget that profit should be a priority as well as the welfare of your patients. It’s about maintaining a balance between profit and care successfully, to ensure all the standards and criteria are met for certification.
This is why a detailed business plan is essential for your projected plans. Where do you see the facility or business in five years? What are the projected costs for staff, equipment, and maintenance? Will there be a tiered system of care and payment?
Its often about being realistic about how much things will set you back. You need to ensure that you have enough contingency if something was to change or need repair.
3. Getting Your Paperwork In Order
This is often one of the most time-consuming parts of the process. However, you must get your documents and applications in order before you can get your hospice certified.
You will need to apply for a license, get your tax identification, your National Provider Identification, whilst checking regulations depending on which state you reside in.
Once you have done that you will need to get your Medicare and Medicaid certifications so you can get paid by the different plans. This process can take up to a year in some cases, so make sure you make a good start on it beforehand!
4. Your Hospice Staff and Their Worth
It’s no secret that the success of any care or hospice business is down to the hard work and capabilities of its staff. They are the backbone and the heart of any medical facility and they are what will be remembered by the patients and families of patients.
Depending on the type of service you will be providing, you might need a whole range of care and hospice workers, many of whom will need to take on a multitude of roles and tasks.
It’s important to be aware, hospice care is heavily monitored and strictly regulated. You will need to be knowledgeable of the state and federal requirements, which may vary from state to state.
Staff licensing and certification is mandatory and will need to be checked and authenticated before they can work in any formal capacity. This will ensure you are working within the legal limits and correctly conducting your hospice business, in order to be or remain certified.
5. Who Is Your Competition In The Local Hospice Market?
Who is your main home care or hospice business competition? When starting a hospice business, it may be useful to look at your competitors and see what they are providing. What can you do to offer a better or more cost-effective service?
You need to think about what your unique selling point is in comparison to the other hospice care providers out there. Hospice care is a service in which the patients want to retain as much freedom and dignity as possible.
If people can see you are providing that service and beyond, they will be much likelier to recommend you to their family and friends.
6. Keeping Your Hospice Policies and Procedures Up To Date
To hit the ground running from day one, make sure that all your hospice policy and procedure manuals, employee handbooks, administrative protocol, and procedures are easy to follow and airtight.
This will prevent any confusion or mistakes being made later on. It means that everybody is on the same page and knows the correct action to take in any given scenario.
It will save you not just time, but money in the long run.
7. Building a Community Around Your Hospice Business
Community is one of the most important things to maintain and develop your hospice business. Having strong links with the local community and religious sectors goes a long way to establish and maintain a hospice’s reputation and standing.
Putting on special evenings and events is a great way to integrate and find potential donors, or even volunteer staff. Patients and family members will appreciate the variety and range a hospice business can offer.
Having a strong and core fundraising structure can provide a hospice business with the tools to protect their facility from any unforeseen costs along the line.
Starting a Hospice Business and Getting Hospice Certified for Medicare.
We hope this article has given you some of the top tips to consider for getting your hospice certified.
It can often be a tricky path to navigate, with the end goal of your hospice business flourishing a long way off!
If you have any further queries or questions regarding hospice certification or would like to speak to one of our home care consultants, why not contact us directly? If you have questions about funding an existing hospice or home health care agency, or starting a home health care or hospice nbusiness, call us today.