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Home Health Care Business Plan Template

Written by Dave Lavinsky

Home Health Care Business Plan

You’ve come to the right place to create your Home Health Care business plan.

We have helped over 10,000 entrepreneurs and business owners create business plans and many have used them to start or grow their home health care businesses.

Home Care Business Plan Example

Below is a template to help you create each section of your home health agency business plan.

Executive Summary

Business overview.

St. Helen’s Home Care is a new home healthcare business that serves the aging population of Austin, Texas. As individuals age, they are more susceptible to diseases and other conditions and need extra help to receive health care. However, many individuals wish to receive care in the comfort of their homes instead of going to a nursing home or hospital. St. Helen’s will provide this population with the care they need without them needing to travel. Our nursing services include physical therapy, skilled nursing care and other healthcare services that can be conducted in the home. We also provide warmth, compassion, and companionship to create lasting relationships with our clients.

St. Helen’s Home Care is run by Helen Parker, who has been a nurse for twenty years. She has specialized in working with aging populations and has extensive knowledge of the common conditions and needs of this age group. Her experience and connections have helped her find other medical professionals who want to join our company. Furthermore, she was able to establish an initial client base from the list of patients she has been helping for years.

Services Offered

St. Helen’s Home Care offers a variety of home health care services that serve the aging population of Austin, Texas. These services include but are not limited to:

  • Physical therapy
  • Occupational therapy
  • Speech-language therapy
  • Skilled Nursing Services
  • Personal care and housekeeping

Customer Focus

St. Helen’s Home Care will serve the aging population of Austin, Texas, primarily residents over the age of 65. This population is susceptible to many conditions that make daily living difficult such as Alzheimer’s, dementia, arthritis, and diabetes. This population needs more health care than other age groups, but not all services require a visit to the hospital or doctor’s office. St. Helen’s will provide any medical service that can easily be conducted in a home setting.

Management Team

St. Helen’s Home Care is owned and operated by Helen Parker, a local nurse who has worked at local hospitals for over the past twenty years. She has worked with hundreds of elderly patients and their families and has helped them find adequate and affordable home health care upon being released from the hospital. Helen Parker has realized there is a lack of quality and affordable home healthcare agencies in Austin. She aims to provide the best in-home health care services while also being affordable for the patient and their families.

Aside from the medical professionals she will have on staff, Helen has also employed an Administrative Assistant, Accountant, and Marketing Specialist to help her operate the company.

Success Factors

St. Helen’s Home Care will be able to achieve success by offering the following competitive advantages:

  • Compassionate Staff: Helen’s will employ a compassionate and friendly staff of nurses, therapists, aides, and social workers who are highly knowledgeable and experienced in their field.
  • Quality Care: Helen’s will provide expert nursing services so that the patients are at the highest comfort level.
  • Pricing: Helen’s pricing will be more affordable than other home health care agencies. They will also work on payment arrangements with the patient and their family so that the patient won’t have to sacrifice any type of care because the cost is too high. The company is also working to partner with local and national insurance companies so that our patients can have their care partially or fully covered by their insurance plans.

Financial Highlights

St. Helen’s Home Care is seeking $340,000 in funding to launch the home healthcare business. The capital will be used for funding equipment and supplies, staffing, marketing expenses, and working capital.

The breakdown of the funding may be seen below:

  • Equipment and supplies (such as computers and medical equipment): $150,000
  • Marketing costs: $50,000
  • Staffing costs: $60,000
  • Working capital (to include three months of overhead expenditures): $80,000

The following graph outlines the pro forma financial projections for St. Helens’ Home Care over the next five years:

pro forma financial projections for St. Helens’ Home Care

Company Overview

Who is St. Helen’s Home Care?

St. Helen’s Home Care is a new home healthcare business that serves the aging population of Austin, Texas. As individuals age, they are more susceptible to diseases and other conditions and need extra help to receive health care. However, many individuals wish to receive care in the comfort of their homes instead of going to a nursing home or hospital. St. Helen’s will provide this population with the care they need without them needing to travel. Our services include physical therapy, nursing, and other healthcare services that can be conducted in the home. We also provide warmth, compassion, and companionship to create lasting relationships with our clients.

St. Helen’s Home Care History

Helen Parker has worked with thousands of elderly patients during her career as a nurse. She often found that many people did not need to travel to a doctor’s office or hospital for their care. Instead, these patients often enjoyed a higher quality of life when they received care from their homes. This revelation inspired her to start a business where she and other professionals could provide care to local elderly patients in the comfort of their homes. After conducting the research needed to establish the company, Helen incorporated St. Helen’s Home Care as an S-corporation on May 15th, 2022.

Since incorporation, St. Helen’s has achieved the following milestones:

  • Found an office location and signed a Letter of Intent to lease it
  • Developed the logo and website for the company
  • Finalized list of services the company will be able to provide
  • Determined the office equipment and inventory requirements
  • Created an initial client base from Helen’s pre-existing patient list
  • Started creating partnerships with local and national medical insurance companies
  • Began recruiting key employees, including medical and administrative staff

St. Helen’s Home Care Services

Industry Analysis

According to Grand View Research, the global home health care industry was valued at $336 billion USD in 2021. It is also expected to grow at a compound annual growth rate of 7.93% from 2022 to 2030 and reach a value of $666.9 billion USD by 2030. This shows that these services will be in great demand, which means it is a great time to start a home healthcare business.

This growth is primarily driven by a growing geriatric population. People are living longer than ever before, and therefore, they will need comfortable healthcare services for much longer. Furthermore, baby boomers comprise a large population and are now entering their retirement years. It is expected that this enormous population will have a significant need for healthcare (whether in the home or doctor’s office) and may create a strain on the current industry. However, this also means there is an enormous opportunity for healthcare businesses to be extremely profitable in the near future.

This is especially true for home healthcare services, which are increasing in demand. Most aging people would rather receive medical care at home than go to a nursing home or hospital. Therefore, there is an incredible demand for these particular services.

The only challenge affecting the industry is a lack of properly trained staff who can take on a healthcare career. However, this will only mean that home healthcare services will be even more valued. These industry trends will only help boost the popularity and success of St. Helen’s Home Care.

Customer Analysis

Demographic profile of target market.

St. Helen’s Home Care will primarily target the aging population of Austin, Texas. This includes anyone over the age of 65, especially those who live with diabetes, Alzheimer’s, arthritis, or other conditions that affect their quality of life.

The precise demographics of Austin, Texas, are:

    Total population590,157100%
        Under 5 years41,7497.10%
        5 to 9 years43,5097.40%
        10 to 14 years41,3247.00%
        15 to 19 years43,3017.30%
        20 to 24 years48,1198.20%
        25 to 34 years106,40718.00%
        35 to 44 years73,78812.50%
        45 to 54 years64,66911.00%
        55 to 59 years35,1095.90%
        60 to 64 years27,9954.70%
        65 to 74 years39,5396.70%
        75 to 84 years17,3942.90%
        85 years and over7,2541.20%
Total housing units260,024100%

Customer Segmentation

St. Helen’s will primarily target the following customer profiles:

  • Aging individuals over the age of 65
  • Individuals living with Alzheimer’s and dementia
  • Elderly individuals with other health conditions

Competitive Analysis

Direct and indirect competitors.

St. Helen’s Home Care will face competition from other home health care agencies with similar business profiles. A description of each competitor company is below.

Travis County Home Health

Travis County Memorial Hospital’s Home Health & Hospice has provided home health services for over a decade. Their staff is composed of dedicated professionals who are committed to providing quality care in the comfort and convenience of their patients’ homes. Their home health aides can assist the patient with grooming and light chores around their home. Home health care will verify if home health aide services are covered by their insurance policy. They accept Medicare, Insurance/HMO/PPO, Medicaid, and Private Pay. The home health care team works closely with the physician to plan the care and monitor the patients’ progress. The nurse will contact the physician with any laboratory results, medication changes, or alterations in their health status.

Elara Caring

Elara Caring is one of the nation’s largest providers of home-based care, with a footprint in most regions of the United States. Elara Caring brings together three award-winning organizations – Great Lakes Caring, National Home Health Care, and Jordan Health Services, into one transformational company. They provide the highest-quality comprehensive care continuum of personal care, skilled home health, hospice care, and behavioral health. Their intimate understanding of their patients’ needs allows them to apply proprietary platforms to deliver proactive, customized care that improves quality of life and keeps patients in their homes.

Encompass Health

Encompass Health is one of the nation’s leading providers of home health services. They continually set the standard of homecare through their people, their approach, and their outcomes.

The patient experience is at the core of everything they do. That’s why they work collaboratively with the patient’s team of experts to craft a plan of care that meets their specific needs. Their skilled nurses, physical therapists, occupational therapists, speech-language pathologists, medical social workers, and home health aides use a coordinated, interprofessional approach to deliver compassionate, specialized care in the comfort of home. Whether recovering from a surgery, a recent hospital stay, or managing a disease or injury, Encompass Health’s services are designed to meet patients where they are.

Competitive Advantage

  • Quality Care: Helen’s will provide expert services so that the patients are at the highest comfort level.
  • Pricing: Helen’s will provide affordable home health care. They will also work on payment arrangements with the patient and their family so that the patient won’t have to sacrifice any type of care because the cost is too high. The company is also working to partner with local and national insurance companies so that our patients can have their care partially or fully covered by their insurance plans.

Marketing Plan

Brand & value proposition.

The St. Helen’s brand will focus on the company’s unique value proposition:

  • Knowledgeable, friendly, compassionate staff of healthcare professionals.
  • Quality level of service and care.
  • Offering the best nursing, therapy, social worker, and home aide services at competitive prices.

Promotions Strategy

St Helen’s Home Care will target elderly residents living in the Austin, Texas area. The company’s promotions strategy to reach the most clientele include:

Local Hospitals

Helen Parker already has great relationships with the local hospitals. She will work to make sure the hospitals send referrals and highly recommend the company to its patients and their families upon releasing them from the hospital.

Website/SEO Marketing

St. Helen’s has a website that is well-organized and informative and lists all our available services. The website also lists the company’s contact information and information about the medical professionals who provide our services.  We will utilize SEO marketing tactics so that anytime someone types in the Google or Bing search engine “Austin home health care” or “Austin health care,” St. Helen’s will be listed at the top of the search results.

St. Helen’s Home Care will have a billboard at a busy intersection where thousands of cars and pedestrians pass daily. The location of the billboard will be in an area of town where there are a lot of doctors’ offices, rehab facilities, and a hospital nearby.

Insurance Partnerships

St. Helens will partner with local and national insurance companies so that our patients can be partially or fully covered for the services we provide. We will ask the insurance companies to recommend our services to their customers and have our business listed on their websites.

St Helen’s pricing will be moderate so customers feel they receive great value when purchasing its services. Services will either be charged directly to the patient or to their insurance plan.

Operations Plan

The following will be the operations plan for St. Helen’s Home Care.

Operation Functions:

  • Helen Parker will be the Chief Executive Officer of the company. She will be in charge of the business operations side of the business and provide home healthcare services until we have a full staff of medical professionals.
  • Helen is assisted by her longtime colleague Mary Green. Mary will be the Administrative Assistant and help with all general administration tasks, including taking phone calls and scheduling appointments.
  • Keith O’Reilly will serve as the Staff Accountant. He will provide all accounting, tax payments, and monthly financial reporting.
  • Betty Lopez will work as the Marketing Specialist. She will run the website, social media, and other marketing efforts.
  • Helen will hire a large team of medical professionals to serve our growing client base. So far, some of her former colleagues have agreed to work for her business.


St. Helen’s Home Care will have the following milestones completed in the next six months.

8/1/202X – Finalize lease for the office space.

8/15/202X – Finalize personnel and staff employment contracts.

9/1/202X – Begin refurbishment and furnishing of the office space.

9/15/202X – Begin networking at medical industry events.

9/22/202X – Begin marketing campaign to attract the first clients.

11/1/202X – St. Helen’s Home Care opens for business.

Financial Plan

Key revenue & costs.

The revenues for St. Helen’s Home Care will come from the fees it will charge the patients and their insurance for the provided health care services.

The major cost drivers for the company will be the staff payroll, marketing expenses, lease, and office equipment.

Funding Requirements and Use of Funds

Key assumptions.

The following outlines the key assumptions required in order to achieve the revenue and cost numbers in the financials as well as pay off the startup business loan.

  • Number of clients per month: 100
  • Annual lease: $50,000
  • Overhead costs per year: $100,000

Financial Projections

Income statement.

FY 1FY 2FY 3FY 4FY 5
Total Revenues$360,000$793,728$875,006$964,606$1,063,382
Expenses & Costs
Cost of goods sold$64,800$142,871$157,501$173,629$191,409
Initial expenditure$10,000$0$0$0$0
Total Expenses & Costs$291,815$416,151$454,000$483,240$514,754
EBITDA$68,185 $377,577 $421,005 $481,366 $548,628
Depreciation$27,160$27,160 $27,160 $27,160 $27,160
EBIT$41,025 $350,417 $393,845$454,206$521,468
Interest$23,462$20,529 $17,596 $14,664 $11,731
PRETAX INCOME$17,563 $329,888 $376,249 $439,543 $509,737
Net Operating Loss$0$0$0$0$0
Use of Net Operating Loss$0$0$0$0$0
Taxable Income$17,563$329,888$376,249$439,543$509,737
Income Tax Expense$6,147$115,461$131,687$153,840$178,408
NET INCOME$11,416 $214,427 $244,562 $285,703 $331,329

Balance Sheet

FY 1FY 2FY 3FY 4FY 5
Accounts receivable$0$0$0$0$0
Total Current Assets$184,257$381,832$609,654$878,742$1,193,594
Fixed assets$180,950$180,950$180,950$180,950$180,950
Depreciation$27,160$54,320$81,480$108,640 $135,800
Net fixed assets$153,790 $126,630 $99,470 $72,310 $45,150
TOTAL ASSETS$338,047$508,462$709,124$951,052$1,238,744
Debt$315,831$270,713$225,594$180,475 $135,356
Accounts payable$10,800$11,906$13,125$14,469 $15,951
Total Liability$326,631 $282,618 $238,719 $194,944 $151,307
Share Capital$0$0$0$0$0
Retained earnings$11,416 $225,843 $470,405 $756,108$1,087,437
Total Equity$11,416$225,843$470,405$756,108$1,087,437
TOTAL LIABILITIES & EQUITY$338,047$508,462$709,124$951,052$1,238,744

Cash Flow Statement

FY 1FY 2FY 3FY 4FY 5
Net Income (Loss)$11,416 $214,427 $244,562 $285,703$331,329
Change in working capital($19,200)($1,966)($2,167)($2,389)($2,634)
Depreciation$27,160 $27,160 $27,160 $27,160 $27,160
Net Cash Flow from Operations$19,376 $239,621 $269,554 $310,473 $355,855
Net Cash Flow from Investments($180,950)$0$0$0$0
Cash from equity$0$0$0$0$0
Cash from debt$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow from Financing$315,831 ($45,119)($45,119)($45,119)($45,119)
Net Cash Flow$154,257$194,502 $224,436 $265,355$310,736
Cash at Beginning of Period$0$154,257$348,760$573,195$838,550
Cash at End of Period$154,257$348,760$573,195$838,550$1,149,286

Home Health Care Business Plan FAQs

What is a home health care business plan.

A home health care business plan is a plan to start and/or grow your home health care business. Among other things, it outlines your business concept, identifies your target customers, presents your marketing plan and details your financial projections.

You can easily complete your Home Health Care business plan using our Home Health Care Business Plan Template here .

What are the Main Types of Home Health Care businesses?

There are a number of different kinds of Home Health Care businesses , some examples include: Nursing care business, Physical home health care business, and Home health care aides.

How Do You Get Funding for Your Home Health Care Company?

Home Health Care businesses are often funded through small business loans. Personal savings, credit card financing and angel investors are also popular forms of funding.

What are the Steps To Start a Home Health Care Business?

Starting a home health care business can be an exciting endeavor. Having a clear roadmap of the steps to start a business will help you stay focused on your goals and get started faster.

1. Develop A Home Health Care Business Plan - The first step in starting a business is to create a detailed home health care business plan that outlines all aspects of the venture. This should include market research on the home health care industry and potential target market size, information on the home health care services you will offer, marketing strategies, pricing detailed and your financial forecast.  

2. Choose Your Legal Structure - It's important to select an appropriate legal entity for your home health care business. This could be a limited liability company (LLC), corporation, partnership, or sole proprietorship. Each type has its own benefits and drawbacks so it’s important to do research and choose wisely so that your home health care business is in compliance with local laws.

3. Register Your Home Health Care Business - Once you have chosen a legal structure, the next step is to register your home health care business with the government or state where you’re operating from. This includes obtaining licenses and permits as required by federal, state, and local laws. 

4. Identify Financing Options - It’s likely that you’ll need some capital to start your home health care business, so take some time to identify what financing options are available such as bank loans, investor funding, grants, or crowdfunding platforms. 

5. Choose a Location - Whether you plan on operating out of a physical location or not, you should always have an idea of where you’ll be based should it become necessary in the future as well as what kind of space would be suitable for your operations. 

6. Hire Employees - There are several ways to find qualified employees including job boards like LinkedIn or Indeed as well as hiring agencies if needed – depending on what type of employees you need it might also be more effective to reach out directly through networking events. 

7. Acquire Necessary Home Health Care Equipment & Supplies - In order to start your home health care business, you'll need to purchase all of the necessary equipment and supplies to run a successful operation. 

8. Market & Promote Your Business - Once you have all the necessary pieces in place, it’s time to start promoting and marketing your home health care business. This includes creating a website, utilizing social media platforms like Facebook or Twitter, and having an effective Search Engine Optimization (SEO) strategy. You should also consider traditional marketing techniques such as radio or print advertising. 

Learn more about how to start a successful home health care business:

  • How to Start a Home Health Care Business


Home Care Business Plan PDF Example

Avatar photo

  • February 28, 2024
  • Business Plan

The business plan template for a home care business

Creating a comprehensive business plan is crucial for launching and running a successful home care business. This plan serves as your roadmap, detailing your vision, operational strategies, and financial plan. It helps establish your home care business’s identity, navigate the competitive market, and secure funding for growth.

This article not only breaks down the critical components of a home care business business plan, but also provides an example of a business plan to help you craft your own.

Whether you’re an experienced entrepreneur or new to the healthcare industry, this guide, complete with a business plan example, lays the groundwork for turning your home care business concept into reality. Let’s dive in!

Our Home Care business plan is designed to address all vital elements necessary for a detailed and effective operational strategy. This plan encompasses the scope of our home care services, marketing approaches, the environment in which we operate, an analysis of our competitors, the structure of our management team, and financial projections. 

  • Executive Summary : Offers a succinct overview of the Home Care business’s unique proposition, highlighting personalized and professional in-home care services tailored for seniors, market analysis showcasing the sector’s growth and demand, management’s expertise in senior care, and a financial strategy that outlines investment opportunities and revenue expectations.
  • Services & Area Coverage: Describes the array of in-home care services, including personal care, medication management, specialized care for dementia, and emergency response, all delivered within a specified service radius to meet the unique needs of each senior.
  • Pricing: Details the pricing strategy , designed to be transparent and competitive, offering flexible options to cater to various financial situations of clients, including hourly and flat-rate packages tailored to different care needs.
  • Key Stats: Presents data underscoring the market size , growth trends, and demographics that illustrate the potential and necessity of home care services.
  • Key Trends: Highlights significant trends such as the increasing preference for aging in place, the integration of technology in care, and a shift towards personalized care.
  • Key Competitors : Analyzes the main competitors within the service area, their offerings, and how the business’s unique approach and technology set it apart.
  • SWOT Analysis : Conducts a comprehensive analysis of Strengths, Weaknesses, Opportunities, and Threats to strategically position the business.
  • Marketing Plan : Outlines marketing strategies aimed at building brand awareness, attracting new clients, and retaining them through superior service, patient satisfaction programs, and targeted marketing efforts.
  • Timeline : Sets forth key milestones and objectives from the business setup to its launch and key growth phases.
  • Management: Highlights the experienced team leading the business, from caregiving professionals to administrative management, emphasizing their roles in ensuring high-quality care and operational success.
  • Financial Plan: Projects the financial outlook for the business over the next five years, detailing revenue models from various services, cost management strategies, profit margins, and expected return on investment, ensuring a clear route to financial sustainability and growth.

The business plan template for a home care business

Home Care Business Plan

home healthcare agency business plan

Fully editable 30+ slides Powerpoint presentation business plan template.

Download an expert-built 30+ slides Powerpoint business plan template

Executive Summary

The Executive Summary introduces your home care business plan, offering a concise overview of your agency and its services. It should detail your market positioning, the range of home care services you offer, including personal care, nursing care, and companion services, its service area, and an outline of day-to-day operations. 

This section should also explore how your home care agency will integrate into the local community, including the number of direct competitors within the area, identifying who they are, along with your agency’s unique selling points that differentiate it from these competitors. 

Furthermore, you should include information about the management and co-founding team, detailing their roles and contributions to the agency’s success. Additionally, a summary of your financial projections, including revenue and profits over the next five years, should be presented here to provide a clear picture of your agency’s financial plan.

Make sure to cover here _ Business Overview _ Market Overview _ Management Team _ Financial Plan

Home Care Business Plan executive summary1

Dive deeper into Executive Summary

Business Overview

For a Home Care Business, the Business Overview section can be effectively divided into 2 main slides:

Services & Area Coverage

Briefly describe the range of home care services your agency offers, emphasizing the personalized and compassionate care provided to clients in the comfort of their own homes. This can include personal care services like bathing and dressing, skilled nursing care, physical therapy, and companion services such as meal preparation and light housekeeping.

Then, mention the geographic area your agency covers, highlighting the convenience and accessibility of your services to clients within this area. Explain why your service area is strategically chosen to meet the needs of your target clientele, considering factors like population demographics and the presence of community resources.

Pricing & Payment Options

Detail your pricing structure for the various home care services offered, ensuring it reflects the quality of care provided and is competitive within the market you’re targeting. Your pricing strategy should be transparent, making it easy for clients and their families to understand the cost of care.

Also,highlight any flexible payment options, insurance partnerships, or programs that can help offset the cost for clients, such as Medicaid, Medicare, or private insurance coverage. Emphasize any packages or special programs that provide added value to your clients, such as customized care plans or discounted rates for long-term services, encouraging long-term relationships and client loyalty.

Make sure to cover here _ Services & Area Coverage _ Pricing & Payment Options

home healthcare agency business plan

Market Overview

Industry size & growth.

In the Market Overview of your home care business plan, start by examining the size of the home care industry and its growth potential.

This analysis is crucial for understanding the market’s scope and identifying expansion opportunities, particularly in the context of an aging population and increasing preference for aging in place.

Key market trends

Proceed to discuss recent market trends , such as the growing consumer interest in personalized home care services, the use of technology to improve service delivery, and the emphasis on holistic care that encompasses physical, emotional, and social well-being.

For example, highlight the demand for services tailored to specific health conditions or preferences, alongside the rising popularity of integrated care models that coordinate across different healthcare providers.

Key competitors

Then, consider the competitive landscape, which includes a range of providers from large national chains to local independent agencies, as well as emerging tech-based care solutions.

Emphasize what makes your agency distinctive, whether it’s through exceptional caregiver training, a comprehensive range of services, or specialization in certain types of care (e.g., dementia care, post-operative care).

Make sure to cover here _ Industry size & growth _ Key market trends _ Key competitors

Home Care Business Plan market overview1

Dive deeper into Key competitors

First, conduct a SWOT analysis for the home care business, highlighting Strengths (such as compassionate and well-trained caregivers, a comprehensive range of services), Weaknesses (including potential regulatory challenges or staffing issues), Opportunities (for example, an aging population and increasing preference for home-based care), and Threats (such as changes in healthcare policies that may affect funding or reimbursement).

Marketing Plan

Next, develop a marketing strategy that outlines how to attract and retain clients through targeted outreach, informative and empathetic communication, engaging online presence, and community partnerships. Emphasize the importance of building trust with clients and their families, showcasing testimonials, and highlighting the qualifications and dedication of your caregiving team.

Finally, create a detailed timeline that outlines critical milestones for the home care agency’s launch, client acquisition efforts, service expansion, and strategic objectives, ensuring the business advances with clear direction and purpose. Include key benchmarks for assessing the quality of care, client satisfaction, and operational efficiency to continually improve and grow your agency.

Make sure to cover here _ SWOT _ Marketing Plan _ Timeline

Home Care Business Plan strategy1

Dive deeper into SWOT

Dive deeper into Marketing Plan

The Management section focuses on the home care business’s management and their direct roles in daily operations and strategic direction. This part is crucial for understanding who is responsible for making key decisions and driving the home care business towards its financial and operational goals.

For your home care business plan, list the core team members, their specific responsibilities, and how their expertise supports the business.

Home Care Business Plan management1

Financial Plan

The Financial Plan section is a comprehensive analysis of your financial projections for revenue, expenses, and profitability. It lays out your home care business’s approach to securing funding, managing cash flow, and achieving breakeven.

This section typically includes detailed forecasts for the first 5 years of operation, highlighting expected revenue, operating costs and capital expenditures.

For your home care business plan, provide a snapshot of your financial statement (profit and loss, balance sheet, cash flow statement), as well as your key assumptions (e.g. number of customers and prices, expenses, etc.).

Make sure to cover here _ Profit and Loss _ Cash Flow Statement _ Balance Sheet _ Use of Funds

Home Care Business Plan financial plan1

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How To Write a Winning Home Health Care Agency Business Plan + Template

Creating a business plan is essential for any business, but it can be especially helpful for home health care agency businesses who want to improve their strategy and/or raise funding.

A well-crafted business plan not only outlines the vision for your company, but also documents a step-by-step roadmap of how you are going to accomplish it. In order to create an effective business plan, you must first understand the components that are essential to its success.

This article provides an overview of the key elements that every home health care agency business owner should include in their business plan.

Download the Ultimate Business Plan Template

What is a Home Health Care Agency Business Plan?

A home health care agency business plan is a formal written document that describes your company’s business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors and lenders (if needed) that you are positioned to become a successful venture.

Why Write a Home Health Care Agency Business Plan?

A home health care agency business plan is required for banks and investors. The document is a clear and concise guide of your business idea and the steps you will take to make it profitable.

Entrepreneurs can also use this as a roadmap when starting their new company or venture, especially if they are inexperienced in starting a business.

Writing an Effective Home Health Care Agency Business Plan

The following are the key components of a successful home health care agency business plan:

Executive Summary

The executive summary of a home health care agency business plan is a one to two page overview of your entire business plan. It should summarize the main points, which will be presented in full in the rest of your business plan.

  • Start with a one-line description of your home health care agency  
  • Provide a short summary of the key points in each section of your business plan, which includes information about your company’s management team, industry analysis, competitive analysis, and financial forecast among others.

Company Description

This section should include a brief history of your company. Include a short description of how your company started, and provide a timeline of milestones your company has achieved.

If you are just starting your home health care agency business, you may not have a long company history. Instead, you can include information about your professional experience in this industry and how and why you conceived your new venture. If you have worked for a similar company before or have been involved in an entrepreneurial venture before starting your home health care agency firm, mention this.

You will also include information about your chosen home health care agency business model and how, if applicable, it is different from other companies in your industry.

Industry Analysis

The industry or market analysis is an important component of a home health care agency business plan. Conduct thorough market research to determine industry trends and document the size of your market. 

Questions to answer include:

  • What part of the home health care agency industry are you targeting?
  • How big is the market?
  • What trends are happening in the industry right now (and if applicable, how do these trends support the success of your company)?

You should also include sources for the information you provide, such as published research reports and expert opinions.

Customer Analysis

This section should include a list of your target audience(s) with demographic and psychographic profiles (e.g., age, gender, income level, profession, job titles, interests). You will need to provide a profile of each customer segment separately, including their needs and wants.

For example, the customers of a home health care agency may include:

  • The elderly
  • People with disabilities
  • New mothers
  • Patients recovering from surgery or illness

Develop a strategy for targeting those customers who are most likely to buy from you, as well as those that might be influenced to buy your products or home health care agency services with the right marketing.

Competitive Analysis

The competitive analysis helps you determine how your product or service will be different from competitors, and what your unique selling proposition (USP) might be that will set you apart in this industry.

For each competitor, list their strengths and weaknesses. Next, determine your areas of competitive differentiation and/or advantage; that is, in what ways are you different from and ideally better than your competitors.

Marketing Plan

This part of the business plan is where you determine and document your marketing plan. . Your plan should be clearly laid out, including the following 4 Ps.

  • Product/Service : Detail your product/service offerings here. Document their features and benefits.
  • Price : Document your pricing strategy here. In addition to stating the prices for your products/services, mention how your pricing compares to your competition.
  • Place : Where will your customers find you? What channels of distribution (e.g., partnerships) will you use to reach them if applicable?
  • Promotion : How will you reach your target customers? For example, you may use social media, write blog posts, create an email marketing campaign, use pay-per-click advertising, launch a direct mail campaign. Or, you may promote your home health care agency business via public relations or partner with another organization to sponsor an event.  

Operations Plan

This part of your home health care agency business plan should include the following information:

  • How will you deliver your service to customers? For example, will you do it in person or over the phone only?
  • What infrastructure, equipment, and resources are needed to operate successfully? How can you meet those requirements within budget constraints?

The operations plan is where you also need to include your company’s business policies. You will want to establish policies related to everything from customer service to pricing, to the overall brand image you are trying to present.

Finally, and most importantly, in your Operations Plan, you will lay out the milestones your company hopes to achieve within the next five years. Create a chart that shows the key milestone(s) you hope to achieve each quarter for the next four quarters, and then each year for the following four years. Examples of milestones for a home health care agency business include reaching $X in sales. Other examples include hiring a certain number of employees, signing on a certain number of clients, and so on.

Management Team

List your team members here including their names and titles, as well as their expertise and experience relevant to your specific home health care agency industry. Include brief biography sketches for each team member.

Particularly, if you are seeking funding, the goal of this section is to convince investors and lenders that your team has the expertise and experience to execute on your plan. If you are missing key team members, document the roles and responsibilities you plan to hire for in the future.

Financial Plan

Here you will include a summary of your complete and detailed financial plan (your full financial projections go in the Appendix). 

This includes the following three financial statements:

Income Statement

Your income statement should include:

  • Revenue : how much revenue you generate.
  • Cost of Goods Sold : These are your direct costs associated with generating revenue. This includes labor costs, as well as the cost of any equipment and supplies used to deliver the product/service offering.
  • Net Income (or loss) : Once expenses and revenue are totaled and deducted from each other, this is the net income or loss.

Sample Income Statement for a Startup Home Health Care Agency  

Revenues $ 336,090 $ 450,940 $ 605,000 $ 811,730 $ 1,089,100
$ 336,090 $ 450,940 $ 605,000 $ 811,730 $ 1,089,100
Direct Cost
Direct Costs $ 67,210 $ 90,190 $ 121,000 $ 162,340 $ 217,820
$ 67,210 $ 90,190 $ 121,000 $ 162,340 $ 217,820
$ 268,880 $ 360,750 $ 484,000 $ 649,390 $ 871,280
Salaries $ 96,000 $ 99,840 $ 105,371 $ 110,639 $ 116,171
Marketing Expenses $ 61,200 $ 64,400 $ 67,600 $ 71,000 $ 74,600
Rent/Utility Expenses $ 36,400 $ 37,500 $ 38,700 $ 39,800 $ 41,000
Other Expenses $ 9,200 $ 9,200 $ 9,200 $ 9,400 $ 9,500
$ 202,800 $ 210,940 $ 220,871 $ 230,839 $ 241,271
EBITDA $ 66,080 $ 149,810 $ 263,129 $ 418,551 $ 630,009
Depreciation $ 5,200 $ 5,200 $ 5,200 $ 5,200 $ 4,200
EBIT $ 60,880 $ 144,610 $ 257,929 $ 413,351 $ 625,809
Interest Expense $ 7,600 $ 7,600 $ 7,600 $ 7,600 $ 7,600
$ 53,280 $ 137,010 $ 250,329 $ 405,751 $ 618,209
Taxable Income $ 53,280 $ 137,010 $ 250,329 $ 405,751 $ 618,209
Income Tax Expense $ 18,700 $ 47,900 $ 87,600 $ 142,000 $ 216,400
$ 34,580 $ 89,110 $ 162,729 $ 263,751 $ 401,809
10% 20% 27% 32% 37%

Balance Sheet

Include a balance sheet that shows your assets, liabilities, and equity. Your balance sheet should include:

  • Assets : All of the things you own (including cash).
  • Liabilities : This is what you owe against your company’s assets, such as accounts payable or loans.
  • Equity : The worth of your business after all liabilities and assets are totaled and deducted from each other.

Sample Balance Sheet for a Startup Home Health Care Agency  

Cash $ 105,342 $ 188,252 $ 340,881 $ 597,431 $ 869,278
Other Current Assets $ 41,600 $ 55,800 $ 74,800 $ 90,200 $ 121,000
Total Current Assets $ 146,942 $ 244,052 $ 415,681 $ 687,631 $ 990,278
Fixed Assets $ 25,000 $ 25,000 $ 25,000 $ 25,000 $ 25,000
Accum Depreciation $ 5,200 $ 10,400 $ 15,600 $ 20,800 $ 25,000
Net fixed assets $ 19,800 $ 14,600 $ 9,400 $ 4,200 $ 0
$ 166,742 $ 258,652 $ 425,081 $ 691,831 $ 990,278
Current Liabilities $ 23,300 $ 26,100 $ 29,800 $ 32,800 $ 38,300
Debt outstanding $ 108,862 $ 108,862 $ 108,862 $ 108,862 $ 0
$ 132,162 $ 134,962 $ 138,662 $ 141,662 $ 38,300
Share Capital $ 0 $ 0 $ 0 $ 0 $ 0
Retained earnings $ 34,580 $ 123,690 $ 286,419 $ 550,170 $ 951,978
$ 34,580 $ 123,690 $ 286,419 $ 550,170 $ 951,978
$ 166,742 $ 258,652 $ 425,081 $ 691,831 $ 990,278

Cash Flow Statement

Include a cash flow statement showing how much cash comes in, how much cash goes out and a net cash flow for each year. The cash flow statement should include:

  • Cash Flow From Operations
  • Cash Flow From Investments
  • Cash Flow From Financing

Below is a sample of a projected cash flow statement for a startup home health care agency business.

Sample Cash Flow Statement for a Startup Home Health Care Agency  

Net Income (Loss) $ 34,580 $ 89,110 $ 162,729 $ 263,751 $ 401,809
Change in Working Capital $ (18,300) $ (11,400) $ (15,300) $ (12,400) $ (25,300)
Plus Depreciation $ 5,200 $ 5,200 $ 5,200 $ 5,200 $ 4,200
Net Cash Flow from Operations $ 21,480 $ 82,910 $ 152,629 $ 256,551 $ 380,709
Fixed Assets $ (25,000) $ 0 $ 0 $ 0 $ 0
Net Cash Flow from Investments $ (25,000) $ 0 $ 0 $ 0 $ 0
Cash from Equity $ 0 $ 0 $ 0 $ 0 $ 0
Cash from Debt financing $ 108,862 $ 0 $ 0 $ 0 $ (108,862)
Net Cash Flow from Financing $ 108,862 $ 0 $ 0 $ 0 $ (108,862)
Net Cash Flow $ 105,342 $ 82,910 $ 152,629 $ 256,551 $ 271,847
Cash at Beginning of Period $ 0 $ 105,342 $ 188,252 $ 340,881 $ 597,431
Cash at End of Period $ 105,342 $ 188,252 $ 340,881 $ 597,431 $ 869,278

You will also want to include an appendix section which will include:

  • Your complete financial projections
  • A complete list of your company’s business policies and procedures related to the rest of the business plan (marketing, operations, etc.)
  • Any other documentation which supports what you included in the body of your business plan.

Writing a good business plan gives you the advantage of being fully prepared to launch and/or grow your home health care agency . It not only outlines your business vision but also provides a step-by-step process of how you are going to accomplish it.

A well-written business plan is an essential tool for any home health care agency. The tips we’ve provided in this article should help you write a winning business plan for your home health care agency.  

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Home Health Agency

Back to All Business Ideas

How to Start a Home Health Agency

Written by: Carolyn Young

Carolyn Young is a business writer who focuses on entrepreneurial concepts and the business formation. She has over 25 years of experience in business roles, and has authored several entrepreneurship textbooks.

Edited by: David Lepeska

David has been writing and learning about business, finance and globalization for a quarter-century, starting with a small New York consulting firm in the 1990s.

Published on November 18, 2021 Updated on June 5, 2024

How to Start a Home Health Agency

Investment range

$2,250 - $11,500

Revenue potential

$52,000 - $260,000 p.a.

Time to build

0 – 3 Months

Profit potential

$47,000 - $78,000 p.a.

Industry trend

If you’re a nurse or professional caregiver, you know how rewarding it can be to care for people and possibly nurture them back to health. As the Baby Boomer generation ages into retirement and beyond, the number of elderly Americans is growing fast, increasing demand for home health care services. Starting your own home health care agency will give you the opportunity to care for people on a daily basis — and potentially make a comfortable living.

Starting your own agency won’t be easy, but the rewards will likely be worth all the work you put in. This step-by-step guide will educate you on the steps involved in starting your own agency and beginning your entrepreneurial journey in health care!

Looking to register your business? A limited liability company (LLC) is the best legal structure for new businesses because it is fast and simple.

Form your business immediately using ZenBusiness LLC formation service or hire one of the Best LLC Services .

Step 1: Decide if the Business Is Right for You

Pros and cons.

Starting a home health agency, just like starting any business, has its pros and cons. You’ll need to evaluate these to decide if a home health agency is the right path for you.

  • Fulfilling work – Few jobs are more rewarding than helping people feel better
  • Flexibility – Choose your clients and set your own schedule
  • Steady work – Aging Boomer generation means sustained demand
  • Travel time – Visiting multiple clients daily can mean a lot of driving
  • Fatigue – Caregiving is often demanding, high-stress work
  • Isolation – Solitary work, mostly one-on-one with clients

Home health care industry trends

The home health care industry refers to both medical care provided in the patient’s home, and the more simple home care of helping people with daily tasks, like washing and getting dressed. The latter is the most common type of home health care.

Industry size and growth

home health industry size and growth

  • Industry size and past growth – In 2021, the home health care industry was worth $126 billion in the US and $320 billion globally.(( )) Data firm IBISWorld says the US home care providers industry has expanded at least 3% per year since 2017.(( ))
  • Growth forecast – The global market is predicted to grow around 8% annually through 2030.
  • Number of businesses – The US is home to more than 450,000 home care providers.(( ))
  • Number of people employed – The industry employs more than 2 million people in the US.(( ))

Trends and challenges

home health industry Trends and Challenges

Trends in the home health care industry include:

  • An aging population and rising cases of chronic diseases in the US are driving demand for home health care services
  • Growing preference for telehealth services also boosts demand 
  • High cost of health care makes home care a less expensive alternative

Challenges in the home health care industry include:

  • High level of competition due to low barriers to entry
  • Lack of qualified workers

What kind of people work in home health care?

home health care industry demographics

  • Gender – 85% of home health providers in the US are female, while 15% are male.(( ))
  • Average level of education – 29% of home health providers have a high school diploma and 24% have an associate degree.(( ))
  • Average age – The average age of a home health provider is 48 years old.(( ))

How much does it cost to start a home health care agency?

Startup costs can range from just $2,000 to more than $11,000, with the average cost around $7,000. The high end is for a Medicare-licensed health care agency, due to the expensive licensing process.

You’ll need a handful of different items to successfully launch your home health care agency. Here’s a list to help you get started:

  • Medical equipment: blood pressure monitor, thermometer, latex gloves
  • First aid kit
  • Cleaning supplies
Startup CostsBallpark RangeAverage
Setting up a business name and corporation$150 - $200$175
Licenses and permits$200 - $1,000$600
Insurance $100 - $500$300
Business cards and brochures$200 - $300$250
Website setup$1,000 - $3,000$2,000
Initial marketing budget$100 - $500$300
Computer$500 - $1,000$750
Medical home care licensing$0 - $5,000$2,500
Total$2,250 - $11,500$6,875

How much can you earn from a home health care agency?

home health agency earnings forecast

If you’re a registered nurse or licensed caregiver, you could start your agency on your own and potentially have a profit margin as high as 90%.

Home health care services cost about $25 per hour. Thus, if you’re able to work 8 daily hours 260 workdays per year, you’ll bring in $52,000 in revenue and around $47,000 in profit, assuming a 90% margin. As you grow and hire more workers, sales could climb to 40 billable hours per day, but due to increased costs your margin might drop to 30%. This would give you annual revenue of $260,000 and a nifty $78,000 in profit.

What barriers to entry are there?

There are a few barriers to entry for a home health care agency. Your biggest challenges will be:

  • Licensing – Your agency may need licenses depending on state and services
  • Client acquisition – It takes time to build a track record and client base

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Step 2: hone your idea.

Now that you know what’s involved in starting a home health agency, it’s a good idea to hone your idea in preparation to enter a competitive market.

Market research will give you the upper hand, even if you’re already positive that you have a perfect product or service. Conducting market research is important, because it can help you understand your customers better, who your competitors are, and your business landscape.

Why? Identify an opportunity

First, you should look at the home health care agencies in your area to see what they are offering and what areas they cover. Is there an area that is not being serviced or are there particular services that are missing? Look for market gaps that you can fill.

What? Determine your services

Determine what services you may be able to offer your clients, particularly ones that may differentiate you from the competition. In addition to medical services (if you will be a medical agency) and daily tasks, you could offer:

  • Prepared meals
  • Grocery delivery
  • Companionship
  • Cleaning and laundry

How much should you charge for home health care services?

The average rate for home health care services is around $25 per hour. If you are a nurse offering medical services, you could charge several times that. Your agency might offer different levels of care at different rates. For example, you could offer a package of full-day services and charge a daily rate.

Once you know your costs, you can use our profit margin calculator to determine your mark-up and final price points. Remember, the prices you use at launch should be subject to change if warranted by the market.

Who? Identify your target market

Your target market will generally be an older population, but it may be their children or other younger relatives who engage you for services.

home healthcare agency business plan

It’s a good idea to ask yourself, based on your service offerings, who is most likely to be the relevant decision-maker?

If your clients are over 70, the decision-maker will likely be the client’s child, so you should target your marketing accordingly. For example, when choosing a social media site for marketing, Facebook might be a good bet for the 30-50 demographic.

Where? Choose your business premises

In the early stages, you may want to operate your business from home to keep expenses low. But as your business grows and operations intensify, you will likely need to hire workers and may need to rent out an office. You can find commercial space to rent in your area on Craigslist , Crexi , and Commercial Cafe .

When choosing a commercial space, you may want to follow these rules of thumb:

  • Central location accessible via public transport
  • Ventilated and spacious, with good natural light
  • Flexible lease that can be extended as your business grows
  • Ready-to-use space with no major renovations or repairs needed

home health agency business idea rating

Step 3: Brainstorm a Business Name

Here are some ideas for brainstorming your business name:

  • Short, unique, and catchy names tend to stand out
  • Names that are easy to say and spell tend to do better
  • The name should be relevant to your product or service offerings
  • Ask around — family, friends, colleagues, social media — for suggestions
  • Including keywords, such as “home health” or “home care”, boosts SEO
  • Choose a name that allows for expansion: “Continuum Care” or “Serenity Home Health” over “Rehab at Home”
  • A location-based name can help establish a strong connection with your local community and help with the SEO but might hinder future expansion

Once you’ve got a list of potential names, visit the website of the US Patent and Trademark Office to make sure they are available for registration and check the availability of related domain names using our Domain Name Search tool. Using “.com” or “.org” sharply increases credibility, so it’s best to focus on these. 

Find a Domain

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Finally, make your choice among the names that pass this screening and go ahead with domain registration and social media account creation. Your business name is one of the key differentiators that sets your business apart. Once you pick your company name, and start with the branding, it is hard to change the business name. Therefore, it’s important to carefully consider your choice before you start a business entity.

Step 4: Create a Business Plan

Here are the key components of a home health care business plan:

what to include in a business plan

  • Executive Summary: A brief summary outlining the core elements of the home health agency business plan, including its mission, key objectives, and potential for success.
  • Business Overview: A concise description of the home health agency, detailing its mission, vision, values, and the problem it aims to solve in the healthcare sector.
  • Product and Services: Clearly defined offerings provided by the home health agency, such as in-home nursing care, rehabilitation services, and assistance with daily activities for patients.
  • Market Analysis: An examination of the home health market, including demographic trends, target customer profiles, and an assessment of the demand for home health services in the specified region.
  • Competitive Analysis: A thorough evaluation of other home health agencies operating in the same market, identifying strengths, weaknesses, opportunities, and threats to the business.
  • Sales and Marketing: Strategies and tactics for promoting the home health agency’s services, reaching potential clients, and establishing a competitive presence in the market.
  • Management Team: An overview of the key individuals responsible for running the home health agency, including their qualifications, roles, and relevant experience.
  • Operations Plan: Detailed information on the day-to-day operations of the home health agency, covering staffing, scheduling, quality control, and other operational processes.
  • Financial Plan: Projections of the home health agency’s financial performance, including revenue forecasts, expense estimates, and a break-even analysis.
  • Appendix: Supplementary materials, such as additional financial data, legal documents, or supporting research, providing further detail and context to support the business plan.

If you’ve never created a business plan, it can be an intimidating task. You might consider hiring a business plan specialist to create a top-notch business plan for you.

Step 5: Register Your Business

Registering your business is an absolutely crucial step — it’s the prerequisite to paying taxes, raising capital, opening a bank account, and other guideposts on the road to getting a business up and running.

Plus, registration is exciting because it makes the entire process official. Once it’s complete, you’ll have your own business!

Choose where to register your company

Your business location is important because it can affect taxes, legal requirements, and revenue. Most people will register their business in the state where they live, but if you are planning to expand, you might consider looking elsewhere, as some states could offer real advantages when it comes to home health care services. 

If you’re willing to move, you could really maximize your business! Keep in mind, it’s relatively easy to transfer your business to another state.

Choose your business structure

Business entities come in several varieties, each with its pros and cons. The legal structure you choose for your home health care agency will shape your taxes, personal liability, and business registration requirements, so choose wisely.

Here are the main options:

types of business structures

  • Sole Proprietorship – The most common structure for small businesses makes no legal distinction between company and owner. All income goes to the owner, who’s also liable for any debts, losses, or liabilities incurred by the business. The owner pays taxes on business income on his or her personal tax return.
  • General Partnership – Similar to a sole proprietorship, but for two or more people. Again, owners keep the profits and are liable for losses. The partners pay taxes on their share of business income on their personal tax returns.
  • Limited Liability Company (LLC) – Combines the characteristics of corporations with those of sole proprietorships or partnerships. Again, the owners are not personally liable for debts.
  • C Corp – Under this structure, the business is a distinct legal entity and the owner or owners are not personally liable for its debts. Owners take profits through shareholder dividends, rather than directly. The corporation pays taxes, and owners pay taxes on their dividends, which is sometimes referred to as double taxation.
  • S Corp – An S-Corporation refers to the tax classification of the business but is not a business entity. An S-Corp can be either a corporation or an LLC , which just needs to elect to be an S-Corp for tax status. In an S-Corp, income is passed through directly to shareholders, who pay taxes on their share of business income on their personal tax returns.

We recommend that new business owners choose LLC as it offers liability protection and pass-through taxation while being simpler to form than a corporation. You can form an LLC in as little as five minutes using an online LLC formation service. They will check that your business name is available before filing, submit your articles of organization , and answer any questions you might have.

Form Your LLC

Choose Your State

We recommend ZenBusiness as the Best LLC Service for 2024

home healthcare agency business plan

Step 6: Register for Taxes

The final step before you’re able to pay taxes is getting an Employer Identification Number , or EIN. You can file for your EIN online or by mail or fax: visit the IRS website to learn more. Keep in mind, if you’ve chosen to be a sole proprietorship you can simply use your social security number as your EIN.

Once you have your EIN, you’ll need to choose your tax year. Financially speaking, your business will operate in a calendar year (January–December) or a fiscal year, a 12-month period that can start in any month. This will determine your tax cycle, while your business structure will determine which taxes you’ll pay.

home healthcare agency business plan

The IRS website also offers a tax-payers checklist , and taxes can be filed online.

It is important to consult an accountant or other professional to help you with your taxes to ensure you are completing them correctly.

Step 7: Fund your Business

Securing financing is your next step and there are plenty of ways to raise capital:

types of business funding

  • Bank loans : This is the most common method, but getting approved requires a rock-solid business plan and strong credit history.
  • SBA-guaranteed loans : The Small Business Administration can act as guarantor, helping gain that elusive bank approval via an SBA-guaranteed loan .
  • Government grants : A handful of financial assistance programs help fund entrepreneurs. Visit to learn which might work for you.
  • Venture capital : Offer potential investors an ownership stake in exchange for funds, keeping in mind that you would be sacrificing some control over your business.
  • Friends and Family : Reach out to friends and family to provide a business loan or investment in your concept. It’s a good idea to have legal advice when doing so because SEC regulations apply.
  • Crowdfunding : Websites like Kickstarter and Indiegogo offer an increasingly popular low-risk option, in which donors fund your vision. Entrepreneurial crowdfunding sites like Fundable and WeFunder enable multiple investors to fund your business.
  • Personal : Self-fund your business via your savings or the sale of property or other assets.

Bank and SBA loans are probably the best options, other than friends and family, for funding a home health care business. You might also try crowdfunding if you have an innovative concept.

Step 8: Apply for Licenses/Permits

Starting a home health care agency requires obtaining a number of licenses and permits from local, state, and federal governments.

Federal regulations, licenses, and permits associated with starting your business include doing business as (DBA), health licenses and permits from the Occupational Safety and Health Administration ( OSHA ), trademarks, copyrights, patents, and other intellectual properties, as well as industry-specific licenses and permits. 

You may also need state-level and local county or city-based licenses and permits. The license requirements and how to obtain them vary, so check the websites of your state, city, and county governments or contact the appropriate person to learn more. 

You could also check this SBA guide for your state’s requirements, but we recommend using MyCorporation’s Business License Compliance Package . They will research the exact forms you need for your business and state and provide them to ensure you’re fully compliant.

This is not a step to be taken lightly, as failing to comply with legal requirements can result in hefty penalties.

If you feel overwhelmed by this step or don’t know how to begin, it might be a good idea to hire a professional to help you check all the legal boxes.

Step 9: Open a Business Bank Account

Before you start making money, you will need a place to keep it, and that requires opening a bank account .

Keeping your business finances separate from your personal account makes it easy to file taxes and track your company’s income, so it’s worth doing even if you’re running your home health care agency as a sole proprietorship. Opening a business bank account is quite simple, and similar to opening a personal one. Most major banks offer accounts tailored for businesses — just inquire at your preferred bank to learn about their rates and features.

Banks vary in terms of offerings, so it’s a good idea to examine your options and select the best plan for you. Once you choose your bank, bring in your EIN (or Social Security Number if you decide on a sole proprietorship), articles of incorporation, and other legal documents and open your new account.

Step 10: Get Business Insurance

Business insurance is an area that often gets overlooked yet is vital to your success as an entrepreneur. Insurance protects you from unexpected events that can have a devastating impact on your business.

Here are some types of insurance to consider:

types of business insurance

  • General liability: The most comprehensive type of insurance, acting as a catch-all for many business elements that require coverage. If you get just one kind of insurance, this is it. It even protects against bodily injury and property damage.
  • Business Property: Provides coverage for your equipment and supplies.
  • Equipment Breakdown Insurance: Covers the cost of replacing or repairing equipment that has broken due to mechanical issues.
  • Worker’s compensation: Provides compensation to employees injured on the job.
  • Property: Covers your physical space, whether it is a cart, storefront, or office.
  • Commercial auto : Protection for your company-owned vehicle.
  • Professional liability: Protects against claims from a client who says they suffered a loss due to an error or omission in your work.
  • Business owner’s policy (BOP): This is an insurance plan that acts as an all-in-one insurance policy, a combination of any of the above insurance types.

Step 11: Prepare to Launch

As opening day nears, prepare for launch by reviewing and improving some key elements of your business.

Essential software and tools

Being an entrepreneur often means wearing many hats, from marketing to sales to accounting, which can be overwhelming. Fortunately, many websites and digital tools are available to help simplify many business tasks. We examine several of them below.

You may want to use industry-specific software, such as Alora , WellSky , and AxisCare , to manage schedules, billing, regulations, and more.

  • Popular web-based accounting programs for smaller businesses include Quickbooks , Freshbooks , and Xero .
  • If you’re unfamiliar with basic accounting, you may want to hire a professional, especially as you begin. The consequences for filing incorrect tax documents can be harsh, so accuracy is crucial.

Develop your website

Website development is crucial because your site is your online presence and needs to convince prospective clients of your expertise and professionalism.

You can create your own website using website builders . This route is very affordable, but figuring out how to build a website can be time-consuming. If you lack tech-savvy, you can hire a web designer or developer to create a custom website for your business.

They are unlikely to find your website, however, unless you follow Search Engine Optimization ( SEO ) practices. These are steps that help pages rank higher in the results of top search engines like Google. 

Here are some powerful marketing strategies for your future business:

  • Professional Branding — Emphasize trustworthiness, care, and professionalism through your logo, staff uniforms, brochures, and website design, ensuring consistency across all platforms.
  • Website SEO — Develop a comprehensive website that outlines your services, staff qualifications, testimonials, and contact information. Optimize for local SEO to target searches related to home health services, elder care, and in-home medical care.
  • Social Media Engagement — Utilize platforms like Facebook and LinkedIn to share patient success stories (with consent), health care tips, and detailed information about your services. This helps build community trust and extends your reach.
  • Content Marketing — Maintain a healthcare blog with articles on home health care, elder care tips, and managing chronic illnesses at home, positioning your agency as an authority in the field. Host webinars or Q&A sessions to address common healthcare concerns and showcase your staff’s expertise.
  • Direct Outreach and Networking — Establish connections with local healthcare providers, clinics, hospitals, and senior centers to generate referrals. Offer informational sessions or workshops in community centers to educate about home health services.
  • Email Marketing — Send regular newsletters to keep clients and their families updated on healthcare regulations, new services, and general health tips.
  • Experiential Marketing — Participate in local health fairs and community events to promote your services. Offer free health screenings or consultations to introduce your services and provide immediate value.
  • Community Engagement and Partnerships — Forge partnerships with local healthcare providers and facilities to create a robust referral network. Engage actively in community activities and sponsor local events to demonstrate your commitment to community well-being.
  • Customer Relationship and Loyalty Programs — Develop educational programs for families of clients to help them understand and manage care requirements. Implement feedback initiatives to continuously improve your services based on client and family input.
  • Targeted Local Advertising — Employ local advertising through newspapers, radio, and community bulletin boards. Use online platforms like Google Ads to reach a targeted local audience effectively.
  • Collaborations with Senior-focused Organizations — Partner with organizations focused on senior care to expand your reach and reinforce your presence within this key demographic.
  • Seasonal Health Campaigns — Capitalize on seasonal health trends and awareness months to promote relevant services and engage with the community through focused health campaigns.

Focus on USPs

unique selling proposition

Unique selling propositions, or USPs, are the unique characteristics of a product or service that sets it apart from the competition. Customers today are inundated with buying options, so you’ll have a real advantage if they are able to quickly grasp how your home health care meets their needs or wishes. It’s wise to do all you can to ensure your USPs stand out on your website and in your marketing and promotional materials, stimulating buyer desire.

Global pizza chain Domino’s is renowned for its USP: “Hot pizza in 30 minutes or less, guaranteed.” Signature USPs for your home health care business could be:

  • Caring for clients like they’re family
  • The most experienced professionals
  • 24-hour on call availability

You may not like to network or use personal connections for business gain. But your personal and professional networks likely offer considerable untapped business potential. Maybe that Facebook friend you met in college is now running a home health care business, or a LinkedIn contact of yours is connected to dozens of potential clients. Maybe your cousin or neighbor has been working in home care for years and can offer invaluable insight and industry connections. 

The possibilities are endless, so it’s a good idea to review your personal and professional networks and reach out to those with possible links to or interest in home health care. You’ll probably generate new customers or find companies with which you could establish a partnership. Online businesses might also consider affiliate marketing as a way to build relationships with potential partners and boost business.

Step 12: Build Your Team

If you’re starting out small from a home-based office, you may not need any employees. But as your business grows, you will likely need workers to fill various roles. Potential positions for a home health care agency would include:

  • Home Health Care Workers – Basic home health tasks
  • Nurses – Provide home medical care
  • Office Manager – Scheduling, billing, staff management
  • Marketing Lead – SEO strategies, social media

At some point, you may need to hire all of these positions or simply a few, depending on the size and needs of your business. You might also hire multiple workers for a single role or a single worker for multiple roles, again depending on need.

Free-of-charge methods to recruit employees include posting ads on popular platforms such as LinkedIn or Facebook. You can also use free classified sites like Jobs and AngelList. You might also consider a premium recruitment option, such as advertising on Indeed , Glassdoor , or ZipRecruiter . Further, if you have the resources, you could consider hiring a recruitment agency to help you find talent.

Step 13: Run a Home Health Agency – Start Making Money!

Caring for others is one of the most rewarding jobs, and home health care is a service most people will need at some point. Today it’s a growing industry due to the aging US population, high cost of hospital care, and increasing chronic illnesses, such as dementia, diabetes, and cardiovascular disease. 

You could create a niche market for yourself by specializing in certain services to jumpstart your word-of-mouth marketing. Now that you have the knowledge to start a business, you can start your agency for a relatively small investment and be on your way to helping others and making a good living! 

  • Home Health Care Agency FAQs

As a one-person agency, you can expect to charge $25 and make around $45,000 each of the first few years. If you add care workers, your business has the potential to grow into a highly profitable company.

Most states require a license even if you don’t offer medical services. You may also be required to have your facilities inspected periodically to keep your license active. Certification of the home health care workers is not required but would add to your agency’s credibility.

If you are a medical home health care agency, in some cases you may be paid by insurance companies. Otherwise, you will be paid directly by the client. You can charge an hourly, daily, or even weekly rate and bill clients weekly, bi-weekly, or monthly.

Market yourself online on leading social media platforms like Facebook and LinkedIn, and visit nearby hospitals, nursing homes, and doctors’ offices to let them know about your services and encourage referrals.

Home health services benefit a variety of clients, including seniors, individuals with chronic illnesses, those recovering from surgeries or injuries, individuals with disabilities, individuals with terminal illnesses, and individuals with mental health conditions.

Start by conducting thorough assessments of your clients’ medical history, abilities, living environment, and support network. Work with healthcare professionals to create coordinated and personalized care plans that meet individual needs and goals. Regularly review and adjust these plans based on changes in the client’s condition. Educate caregivers on care protocols and supervise them to ensure they follow the care plans and maintain high standards. Maintain open communication with clients, their families, and caregivers, and stay updated on the latest best practices in home health care.

  • Decide if the Business Is Right for You
  • Hone Your Idea
  • Brainstorm a Business Name
  • Create a Business Plan
  • Register Your Business
  • Register for Taxes
  • Fund your Business
  • Apply for Licenses/Permits
  • Open a Business Bank Account
  • Get Business Insurance
  • Prepare to Launch
  • Build Your Team
  • Run a Home Health Agency - Start Making Money!

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Home Health Care Business Plan Template

Written by Dave Lavinsky

home health care business plan template

Over the past 20+ years, we have helped over 10,000 entrepreneurs and business owners create business plans to start and grow their home health care businesses. On this page, we will first give you some background information with regards to the importance of business planning. We will then go through a home health care business plan template step-by-step so you can create your plan today.

Download our Ultimate Business Plan Template here >

What is a Home Health Care Business Plan?

A business plan provides a snapshot of your home health care business as it stands today, and lays out your growth plan for the next five years. It explains your business goals and your strategy for reaching them. It also includes market research to support your plans.

Why You Need a Business Plan for a Home Health Care Agency

If you’re looking to start a home health care business, or grow your existing home health care business, you need a business plan. A business plan will help you raise funding, if needed, and plan out the growth of your home health care business in order to improve your chances of success. Your home health care business plan is a living document that should be updated annually as your company grows and changes.

Sources of Funding for Home Health Care Businesses

With regards to funding, the main sources of funding for a home health care business are personal savings, credit cards, bank loans and angel investors. With regards to bank loans, banks will want to review your business plan and gain confidence that you will be able to repay your loan and interest. To acquire this confidence, the loan officer will not only want to confirm that your financials are reasonable, but they will also want to see a professional plan. Such a plan will give them the confidence that you can successfully and professionally operate a business.

The second most common form of funding for a home health care business is angel investors. Angel investors are wealthy individuals who will write you a check. They will either take equity in return for their funding, or, like a bank, they will give you a loan. Venture capitalists will not fund a home health care business. They might consider funding a home health care business with a national presence, but never an individual location. This is because most venture capitalists are looking for millions of dollars in return when they make an investment, and an individual location could never achieve such results.

Finish Your Business Plan Today!

Home health care business plan template.

If you want to start a home health care business or expand your current one, you need a business plan. Below are links to each section of your home health care business plan template:

Executive Summary

Your executive summary provides an introduction to your business plan, but it is normally the last section you write because it provides a summary of each key section of your plan.

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of home health care business you are operating and the status. For example, are you a startup, do you have a home health care business that you would like to grow, or are you operating a chain of home health care businesses.

Next, provide an overview of each of the subsequent sections of your plan. For example, give a brief overview of the home health care industry. Discuss the type of home health care business you are operating. Detail your direct competitors. Give an overview of your target customers. Provide a snapshot of your marketing plan. Identify the key members of your team. And offer an overview of your financial plan.  

Company Analysis

In your company analysis, you will detail the type of home health care business you are operating.

For example, you might operate one of the following types of home health care businesses:

  • Nursing care business : this type of home health care business is the most common, where the patient is given a doctor-approved plan of care specific to the patient’s clinical needs and delivered within the comfort of their home.  
  • Physical home health care business : this type of home health care business provides physical therapy to patients who need help regaining their muscle and joint strength. 
  • Home health care aides : this type of home health care business provides patients with home health care aides who assist them with basic daily tasks, such as bathing, cooking, and dressing.  

In addition to explaining the type of home health care business you will operate, the Company Analysis section of your business plan needs to provide background on the business.

Include answers to question such as:

  • When and why did you start the business?
  • What milestones have you achieved to date? Milestones could include the number of home health care patients, growth year over year, etc.
  • Your legal structure. Are you incorporated as an S-Corp? An LLC? A sole proprietorship? Explain your legal structure here.

Industry Analysis

In your industry analysis, you need to provide an overview of the home health care business.

While this may seem unnecessary, it serves multiple purposes.

First, researching the home health care industry educates you. It helps you understand the market in which you are operating. 

Secondly, market research can improve your strategy, particularly if your research identifies market trends.

The third reason for market research is to prove to readers that you are an expert in your industry. By conducting the research and presenting it in your plan, you achieve just that.

The following questions should be answered in the industry analysis section of your home health care business plan:

  • How big is the home health care industry (in dollars)?
  • Is the market declining or increasing?
  • Who are the key competitors in the market?
  • Who are the key suppliers in the market?
  • What trends are affecting the industry?
  • What is the industry’s growth forecast over the next 5 – 10 years?
  • What is the relevant market size? That is, how big is the potential market for your home health care business? You can extrapolate such a figure by assessing the size of the market in the entire country and then applying that figure to your local population.

Customer Analysis

The customer analysis section of your home care agency business plan must detail the customers you serve and/or expect to serve.

The following are examples of customer segments: parents of elderly individuals, retired seniors, senior community program managers, etc.  

As you can imagine, the customer segment(s) you choose will have a great impact on the type of home health care business you operate. Clearly, parents of elderly individuals would want different service options and would respond to different marketing promotions than senior community program managers, for example.

Try to break out your target customers in terms of their demographic and psychographic profiles. With regards to demographics, include a discussion of the ages, genders, locations and income levels of the customers you seek to serve. Because most home health care businesses primarily serve customers living in their same city or town, such demographic information is easy to find on government websites.

Psychographic profiles explain the wants and needs of your target customers. The more you can understand and define these needs, the better you will do in attracting and retaining your customers.

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Competitive Analysis

Your competitive analysis should identify the indirect and direct competitors your business faces and then focus on the latter.

Direct competitors are other home health care businesses. 

Indirect competitors are other care options that people have that aren’t direct competitors. This includes hospitals, nursing homes, and people who help relatives with home health care needs. You need to mention such competition to show you understand that not everyone who needs healthcare assistance will utilize a home health care company.

With regards to direct competition, you want to describe the other home health care businesses with which you compete. Most likely, your direct competitors will be home health care businesses located very close to your location.

For each such competitor, provide an overview of their businesses and document their strengths and weaknesses. Unless you once worked at your competitors’ businesses, it will be impossible to know everything about them. But you should be able to find out key things about them such as:

  • What types of patients do they help?
  • What types of services do they offer?
  • What is their pricing (premium, low, etc.)?
  • What are they good at?
  • What are their weaknesses?

With regards to the last two questions, think about your answers from the customers’ perspective. And don’t be afraid to ask your competitors’ customers what they like most and least about them.

The final part of your competitive analysis section is to document your areas of competitive advantage. For example:

  • Will you provide superior services?
  • Will you provide services that your competitors don’t offer?
  • Will you make it easier or faster for customers to use your services?
  • Will you provide better customer service?
  • Will you offer better pricing?

Think about ways you will outperform your competition and document them in this section of your plan.  

Marketing Plan

Traditionally, a marketing plan includes the four P’s: Product, Price, Place, and Promotion. For a home health care business plan, your marketing plan should include the following:

Product : In the product section, you should reiterate the type of home health care business that you documented in your Company Analysis. Then, detail the specific products you will be offering. For example, in addition to home health care, will you provide superior customer service, 24/7 call centers, or emergency services?

Price : Document the prices you will offer and how they compare to your competitors. Essentially in the product and price sub-sections of your marketing plan, you are presenting the services you offer and their prices.

Place : Place refers to the location of your home health care business office. Document your location and mention how the location will impact your success. For example, is your home health care business office operated remotely, located near a main highway, near public transportation, etc. Discuss how your location might provide a steady stream of customers. 

Promotions : The final part of your home health care marketing plan is the promotions section. Here you will document how you will drive customers to your location(s). The following are some promotional methods you might consider:

  • Advertising in local papers and magazines
  • Reaching out to local websites 
  • Social media marketing
  • Local radio advertising

Operations Plan

While the earlier sections of your home health agency business plan explained your goals, your operations plan describes how you will meet them. Your operations plan should have two distinct sections as follows.

Everyday short-term processes include all of the tasks involved in running your home health care business, including hiring quality home care professionals, training employees, and administrative tasks.

Long-term goals are the milestones you hope to achieve. These could include the dates when you expect to serve your 100th patient, or when you hope to reach $X in revenue. It could also be when you expect to expand your facility or launch in a new location.  

Management Team

To demonstrate your home health care business’ ability to succeed, a strong management team is essential. Highlight your key players’ backgrounds, emphasizing those skills and experiences that prove their ability to grow a company. 

Ideally you and/or your team members have direct experience in managing home health care businesses. If so, highlight this experience and expertise. But also highlight any experience that you think will help your business succeed.

If your team is lacking, consider assembling an advisory board. An advisory board would include 2 to 8 individuals who would act like mentors to your business. They would help answer questions and provide strategic guidance. If needed, look for advisory board members with experience in managing home health care companies or successfully running small businesses.  

Financial Plan

Your financial plan should include your 5-year financial statement broken out both monthly or quarterly for the first year and then annually. Your financial statements include your income statement, balance sheet and cash flow statements.

Income Statement : an income statement is more commonly called a Profit and Loss statement or P&L. It shows your revenues and then subtracts your costs to show whether you turned a profit or not.

In developing your income statement, you need to devise assumptions. For example, will you assist 50 patients per month or 100? And will sales grow by 2% or 10% per year? As you can imagine, your choice of assumptions will greatly impact the financial forecasts for your business. As much as possible, conduct research to try to root your assumptions in reality.

Balance Sheets : Balance sheets show your assets and liabilities. While balance sheets can include much information, try to simplify them to the key items you need to know about. For instance, if you spend $100,000 on building out your home health care business, this will not give you immediate profits. Rather it is an asset that will hopefully help you generate profits for years to come. Likewise, if a bank writes you a check for $100,000, you don’t need to pay it back immediately. Rather, that is a liability you will pay back over time.

Cash Flow Statement : Your cash flow statement will help determine how much money you need to start or grow your business, and make sure you never run out of money. What most entrepreneurs and business owners don’t realize is that you can turn a profit but run out of money and go bankrupt. For example, let’s say a local senior living community approached you with a $50,000 partnership contract to provide home health care services for their occupants. Let’s further assume the contract would cost you $50,000 to fulfill in terms of increased staffing costs. Well, in most cases, you would have to pay that $50,000 now for employee salaries, utilities, etc. But let’s say the company didn’t pay you for 180 days. During that 180-day period, you could run out of money.

In developing your Income Statement and Balance Sheets be sure to include several of the key costs needed in starting or growing a home health care business:

  • Cost of equipment like standard nursing supplies, sanitary products, and emergency medications
  • Payroll or salaries paid to staff
  • Business insurance
  • Taxes and permits
  • Legal expenses

Attach your full financial projections in the appendix of your plan along with any supporting documents that make your plan more compelling. For example, you might include your Medicaid and Medicare certifications.  

Putting together a business plan for your home health care business is a worthwhile endeavor. If you follow the example template above, by the time you are done, you will have an expert home health care business plan; download it to PDF to show banks and investors. You will really understand the home health care industry, your competition, and your customers. You will have developed a marketing plan and will really understand what it takes to launch and grow a successful home health care business.

Home Health Business Plan FAQs

What is the easiest way to complete my home health care business plan.

Growthink's Ultimate Business Plan Template allows you to quickly and easily complete your Home Health Care Business Plan.

What is the Goal of a Business Plan's Executive Summary?

The goal of your Executive Summary is to quickly engage the reader. Explain to them the type of home health care business you are operating and the status; for example, are you a startup, do you have a home health care business that you would like to grow, or are you operating a chain of home health care businesses?

Don’t you wish there was a faster, easier way to finish your Home Health Care business plan?

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Since 1999, Growthink has developed business plans for thousands of companies who have gone on to achieve tremendous success.  

Click here to see how Growthink’s professional business plan consulting services can create your business plan for you.

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home healthcare agency business plan

14 Steps to Start a Successful Home Healthcare Agency

Looking to start your own home healthcare business? Read on. 

The home healthcare sector is one of the fastest-growing healthcare industries in the United States.  

In 2019, there were approximately 1.4 million people employed in home health care services in the US.

Home health workers — comprising nurses, therapists, and personal care aides — provide a range of medical and daily living services to nearly 12 million people . Most of whom are elderly and many chronically ill, disabled, bedridden, or struggling with Alzheimer’s disease and other cognitive issues. 

Fueled by over 73 million baby boomers – almost 25% of the U.S. population – there’s never been a better time to start a home healthcare business .

In this guide, we’ll explore what services home healthcare agencies provide and why demand is soaring, and then share 14 steps you need to follow to start a successful home healthcare agency. 

What Services Do Home Health Care Businesses Provide?

The term “ home health care ” refers to medical treatment or assistive care for patients who don’t require hospitalization or facility care but do need additional support to live safely at home. Medical professionals or professional caregivers visit individual’s homes to provide some sort of help or care.

While home care can involve medical treatment from medical professionals, most health care is assisting individuals with daily activities‌ ‌such‌ as‌ ‌bathing,‌ ‌dressing,‌ ‌and‌ ‌eating. 

Medical vs. non-medical home care business

Medical home care is provided by medical professionals and includes wound care and general nursing services, such as monitoring blood pressure and mental state. This type of care is typically needed by senior citizens and those recently discharged from hospital. 

Non-medical home care is provided by professional caregivers or other (licensed or unlicensed) non-medical personnel and is based around essential day-to-day assistance. For example, home care aides will prepare meals, clean the house, help change or dress an individual, or drive them to or from doctors' appointments. They might also play cards or board games to keep seniors cognitively engaged. 

Demand for Private Caregiver Services is Growing

The private caregiver services sector is one of the fastest-growing healthcare industries in the United States. Demand is driven by over 73 million baby boomers , representing around 25% of the U.S. population.

Aging baby boomers are placing more demands on the healthcare market to provide home care. As life expectancy increases, seniors who need long-term care prefer to stay in their homes, which means additional private caregivers will be required.  

However, aging boomers are not the only reason the nation's population is getting older. Longer lives — in part due to better health care — and record low birth rates among young women are also significant factors.

According to a survey of US adults , around 18% indicated that an in-home care service provider would be most likely to provide long-term care if needed.

home healthcare agency business plan

Here are five more reasons to believe demand for private caregiver services in the U.S. will continue to grow:

  • Around 12 million people receive some form of home health care, compared to about 2 million who live in nursing homes or assisted living facilities . (Source: Forbes )
  • Most of those receiving home care in the U.S. are over 65 years old , with approximately 97% requiring assistance with bathing and 91% requiring assistance transferring in and out of bed. (Source: Statista )
  • 90% of seniors plan to remain in their homes as they age. (Source: AARP )
  • More than 10,000 baby boomers turn 65 every day, and by 2030, 61 million baby boomers will be aged 66 to 84. (Source: Census )
  • Home health care revenue in the U.S. has grown to $97 billion. (Source: Statista )

14 Steps to Start a Successful Home Health Care Agency

Here are 14 steps you need to follow when launching your successful home healthcare agency :

Step #1. Create a business entity

Various types of business structure are ‌available:‌ Sole Proprietorship,‌ ‌Partnership,‌ ‌ Corporation,‌ ‌and‌ ‌Limited-Liability‌ ‌Company‌ ‌(LLC). The type of business you form will determine how much tax you pay, what kind of organizational structure your business will have, and the personal obligations you assume as a result.

Step #2. Obtain an Employer ID Number (EIN)

An Employer Identification Number (EIN) , also known as the Federal Employer Identification Number (FEIN) or the Federal Tax Identification Number, is a unique nine-digit number issued by the Internal Revenue Service (IRS) to business entities operating in the United States for identification purposes.

Step #3. Register with the Secretary of State

Your location and business structure determine how you’ll need to register your business. In most cases, registering your business is as simple as filing your business name with state and local governments.

Check the Secretary of State's website in your area for business name availability, and also check if the domain name is available for your website. When your business name and entity are approved, go ahead and get letterhead, business cards, and brochures printed.

Step #4. Draft a formal business plan

Next, you’ll need to draft a business plan that will be the foundation of your healthcare agency. You’ll need to include the following:

  • Executive summary – Present a brief overview‌ ‌of‌ ‌your‌ ‌company.
  • Company description – Describe your agency's mission and goals.
  • Services – Explain what services you will be offering and how you will price them.
  • Marketing plan – Decide how people will learn about your business.  
  • Management and organization – Provide an overview of your ownership structure.
  • Operational plan – Provide information on the facilities and staff, along with the supplies you'll require.
  • Financial plan – Write down a cash flow forecast, a balance sheet snapshot, and a break-even point analysis on it.

Step #5. Open a business bank account

Once you’ve registered your business, you can open a business checking account and credit card account. 

Step #6. Secure funding

One of the primary reasons new home care businesses fail is the lack of working capital during the start-up phase. Depending on the location of your home healthcare agency, the estimated start-up costs run as follows:

  • Private Pay Home Care agency: $40,000 to $80,000. 
  • Licensed Home Health non-Medicare agency: $60,000 to $100,000. 
  • Medicare Certified agency:   $150,000 to $350,000. 

You’ll want to make sure you have a solid financial plan and robust funding to get your business off the ground.

Step #7. Check state licensing requirements

The non-medical home care business forms and licenses you’ll need vary from state to state, so it’s difficult to provide precise step-by-step instructions on what to do. 

As a minimum, you’ll usually need to attend a specific training course and become certified in‌ ‌CPR/AED. In some states, you don’t require any other special licenses. But in others, you may need to take additional courses for personal care and caregiver training . 

Step #8. Obtain adequate insurance

It’s essential to obtain adequate insurance. As a minimum, you’ll need:

  • Professional liability insurance – protects you from claims of negligence, malpractice, or incompetence. (Also known as “errors and omissions” insurance.)

Depending on the services you’re offering, you may also need:

  • General liability insurance – covers you against claims involving third-party bodily injury and property damage arising‌ ‌from‌ ‌your‌ ‌product‌ ‌or‌ ‌ operation.
  • Cybersecurity insurance – protects you from some HIPAA penalties arising from a breach or hack that exposes‌ ‌a‌ ‌customer’s‌ ‌PII‌ ‌(Personal‌ ‌ Identifiable‌ ‌Information).

Step #9. Develop a sales and marketing plan

Three market segments should be at the center of your marketing plan:

  • Older adults and seniors.
  • The adult children of seniors.
  • Other relatives of seniors or disabled individuals.

Launch a website

You have to be visible online, which starts with creating a website that is easy to read and navigate on any device.

Set up a Google My Business page

Most local searches show a Google Map pack, so it’s essential to get listed in there.

home healthcare agency business plan

Connect with referral sources

Decide on the best sources for referrals in your area, such as connecting with long-term care facilities and hospital discharge social workers. 

An excellent place to start is contacting local physicians, senior centers, and rehab outpatient centers and asking them for referrals. You can also inquire whether it's possible to place adverts or leaflets about your services in their offices.

Run Google Ads

Bid on keywords to get immediate visibility for your most important searches in Google. For example, you’d want to show at the top of Google for "[location] caregiver agencies". Someone searching for this term is looking for the services you provide, and ads are one of the best ways to get noticed even when you’re starting. 

home healthcare agency business plan

TV and radio ads

TV and radio ads might be a viable option, but are usually quite expensive, so don’t invest in these until your business is established.

Get active on social media 

Use the social media channels where your target audience is active to start engaging them with helpful content about your services and care packages.

Collect and publish reviews

Showing up on Google is not enough – people want to see social proof that you are a trustworthy company when making such an emotional investment like caring for a loved one.

Step #10. Develop a recruitment and retention plan

The two most popular methods to retain caregivers ‌are‌ ‌recognition‌ ‌and‌ ‌training. You need to understand your caregivers to keep them and then use this knowledge to train new ones.

Step #11. Set up operations - scheduling, billing, and timekeeping - software

You’ll need to set up back office operations, including accounting, billing, payroll, scheduling, and timekeeping software.

Step #12. Draft formal policies and procedures

Your formal policies and procedures need to cover the following:

  • New client admissions
  • Plans of care
  • Employee and payroll records
  • Hiring practices
  • Orientation
  • Client billing
  • Client rights and responsibilities

Step #13. Hire founding staff members

Since your home health care business provides personalized care services to patients, you want to hire employees who reflect your vision and provide the best possible care. Your business reputation depends on the quality of care you provide.

Healthcare professionals commonly employed in home care include certified nursing assistants (CNAs) and home health aides (HHAs) . Bond all your employees if you can.

Step #14. Remain compliant with caregiver training

Home healthcare agencies have to meet compliance requirements in different states. 

CareAcademy is an online training platform that is approved in all 50 states . Agency owners can enroll employees and monitor their progress. At the end of the training, caregivers will be compliant and authorized to provide services in their state. 

It’s easy for agency owners and their employees to get started:

  • Owners add caregivers.
  • Caregivers access training from any device.
  • Caregivers review progress and set up reminders to complete training on time.
  • Caregivers download training logs and certificates of completion. 

CareAcademy’s online training ensures agency owners and caregivers have a paper trail for compliance purposes.

Get Started Today

With the demand for private caregiver services set to continue rising, now is a perfect time to start your home healthcare agency.

Check out the range of online training at CareAcademy to get your business off to a fast start with fully-qualified and compliant caregivers. Or, book a demo and we’ll discuss your needs, state requirements , and explore how CareAcademy can get your staff trained and compliant as soon as possible. 

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home healthcare agency business plan

A conversation series with Cathy Thorpe CEO of Nurse Next Door

Crafting Your Home Care Business Plan: 8 Essential Steps for Success

The demand for quality home care services is skyrocketing as the global population ages. The worldwide home healthcare market, valued at an astounding $299 billion in 2020 , shows no signs of slowing down. For visionary entrepreneurs, this presents a golden opportunity to make a positive impact in the lives of many while building a thriving business. Whether you are considering starting a home health care service from scratch or partnering with an established franchise, one essential element you cannot overlook is a meticulously crafted home care business plan.

A home care business plan is not just a document; it is the blueprint that guides your business decisions, impresses potential investors, and lays the foundation for your agency’s success. Securing financing, in particular, hinges on your ability to demonstrate a well-thought-out plan that promises profitability and sustainability.

In this guide, we’re here to walk you through the eight critical steps for creating a successful home care business plan. With these insights, you’ll be equipped to navigate the complexities of the home care industry and launch a business that promotes both profit and purpose .

meal preparation

Understanding the Importance of a Home Care Business Plan

Defining a home care business plan.

A home care business plan is a vital document that guides the establishment and management of a home health care business. It lays down the objectives, strategies, financial projections, and market analysis that are essential for the smooth operation of your business.

This roadmap is essential for ensuring that your business is well-positioned to offer a range of home care services, such as post-operative care , Alzheimer’s care , and skilled-nursing services .

The Critical Role it Plays

Why is a home care business plan so indispensable? Firstly, it forms the foundation for your business operations. Your business plan acts as a blueprint for managing cash flow and resources, essential for providing top-notch services. It also outlines the legal structure of your home health care agency, ensuring compliance and seamless operations.

Secondly, a solid business plan helps in securing bank loans and attracting investors. By demonstrating your commitment to providing affordable home health care and showcasing your business’s financial health, you present yourself as a viable investment .

Woman thinking with notebook

Laying the Groundwork: The Pre-Planning Stage

Setting clear goals.

Before you dive into the specifics of your home care business plan, it’s super important to know what you really want to achieve with your home health care business. Think about it like a roadmap – you need to know where you’re going! Here’s what you should consider:

Helping the Community: A lot of people want to start a home health care business because they care. With more senior citizens in the neighborhoods, there’s a huge need for services that help them lead a happy and healthy life.

Offering Different Services: Maybe you want to provide a range of services. Like, not just basic care, but also physical therapy, skilled-nursing care, or end-of-life care . This way, you can help all sorts of people with different health needs.

Making Connections: It’s a great idea to team up with hospitals and doctors. By building strong relationships with other medical professionals, you can make your services even better. Plus, it’s always good to have friends in the business.

Making Money While Doing Good: Yes, you want to help people, but you also need to make a living. So, part of your goal might be to create a business that makes money. That way, you can keep the doors open and continue to provide awesome care for a long time.

Franchising: Some people don’t want to start from scratch—and that’s OK! You can get in on a franchise and use a name that people already know and trust. This can be a kick-start for your business.

Personal Touch: For some, the heart of the home health care business is in giving clients that personal touch. It’s not just about healthcare; it’s about making someone’s day better.

Don’t forget; it’s smart to make sure your goals are SMART – which means Specific, Measurable, Achievable, Relevant, and Time-bound. It’s like a checklist to make sure your goals aren’t just dreams, but something you can really achieve!

Knowing your audience.

Another essential pre-planning step is knowing who will read your business plan. Will it be potential investors, banking officials, or medical professionals looking for collaboration? Tailoring your home care business plan to suit the interests and concerns of the audience reading your business plan is vital for effective communication.

Staying Informed About the Industry

Staying informed about the home health care industry is fundamental to your business’s success. Engaging in market research will equip you with insights into the demands, challenges, and opportunities in the industry. Here are three reputable sources to get you started:

  • Home Health Care News for the latest updates, data, and trends, covering policy changes to innovations.
  • National Association for Home Care & Hospice (NAHC) for educational materials, research, and networking opportunities.
  • The Joint Commission for resources on quality and safety standards.

Use this information to identify market strengths, weaknesses, and gaps that your business can address, ensuring that your home care business plan remains adaptable and responsive to the evolving industry landscape.

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Crafting Your Home Care Business Plan: Key Components

1. executive summary: capturing attention from the get-go.

Your executive summary is the opening act of your home care business plan and should be designed to capture attention immediately. Within this section, succinctly outline your business mission, the home care services you’ll be offering, and how your business will fill a specific need in the market.

For instance, you might focus on providing skilled home health services to seniors or specialize in Alzheimer’s and dementia care. Remember that with an aging population, the home care industry is competitive. A compelling executive summary will set your business apart and entice readers to dive deeper into your business plan.

2. Company Description: Defining Your Home Care Business Identity

In this section of your home care business plan, provide a detailed description of your home health care company. Discuss the types of home health care services you aim to provide, be it personal care, nursing services, or occupational therapy. Be sure to mention how your services cater to the demands of the aging population.

Outline your goals, target market, and how your home care agency will stand out from others. If you have a unique approach, highlight that as part of your competitive advantage.

3. Industry Analysis: Navigating the Home Care Market

An in-depth industry analysis is vital for understanding the landscape of the home health care market. This section should include market research, trends in the health care industry, and an analysis of competitors. Identify the needs of your target customers and the gaps in the services provided by existing home health care agencies.

Are there unmet needs in terms of physical therapy or end-of-life care services? Knowing the industry inside out will enable you to position your home care business strategically within the market.

4. Management and Organization: Building a Strong Team

A successful home health care business relies on a strong team. In this section, describe the structure of your home health care agency. Detail the roles of the healthcare professionals, including skilled nurses, caregivers, medical social workers, and any other medical professionals involved in providing in-home services.

Define the qualifications and experience needed for each role. Explain how your home health care team will contribute to the success of your business and the provision of high-quality care to your clientele. It’s essential to portray the strength and competence of your team in fulfilling the growing needs of the aging population.

5. Service Offerings: Detailing Your Home Health Care Services

In this part of your home care business plan, provide a comprehensive list of the home health care services that your business will offer. These might include skilled nursing care, physical therapy, speech therapy, and personal care, among others. Describe how your home care business will meet the diverse needs of the aging population, and specify how your services will differ from those provided by other home health care businesses.

For instance, if you plan on including specialized skilled-nursing services or employing occupational therapists, make it a point to highlight these as part of your unique service offerings.

6. Marketing Plan: Reaching Your Target Audience

Your marketing plan is crucial for the success of your home care business. Begin by identifying your target market – is it seniors, clients recovering from surgery, or individuals requiring companionship? Next, outline your marketing and recruitment strategies.

How will you reach your target customers? What channels will you use? Consider both traditional avenues and digital platforms. Mention any partnerships with medical professionals or hospitals that could drive referrals. Additionally, discuss how you plan to brand your business and communicate the value of your home health care services effectively.

Take us, for example. Here at Nurse Next Door, we wear our hearts on our sleeves. Our mantra, “Happier Aging™,” is the heartbeat of our branding . We’re all about connecting with families and sprinkling some joy in the mix. Our popping pink? That’s the color of positivity, love, and care. But we know it’s not just about looking pretty – it’s about action.

Our dedication is to create tailor-made experiences that fill our clients’ lives with happiness. By marrying our vibrant spirit with a deep commitment to care, we like to think we’ve made Nurse Next Door a little piece of home in the home care industry.

7. Financial Projections: Mapping Out Your Financial Future

Financial projections are a critical aspect of your home care business plan, as they give potential investors or lenders insight into the financial viability of your home health care agency. In this section, outline your revenue model, pricing structure, and expected expenses, including salaries for medical professionals and costs for any expensive medical equipment.

Provide detailed financial statements, including projected income statements, balance sheets, and cash flow statements. By giving a clear picture of your expected cash flow, you will demonstrate that your home care business is a sound investment.

8. Appendix: Supporting Documents and Additional Resources

The appendix of your home care business plan should contain all the supporting documents that provide additional details not included in the main sections. This might include resumes of your home health care team, details of your legal structure, licenses, and permits, contracts with medical professionals, or hospital insurance information.

Also, if you have any endorsements from industry associations, certificates, or awards, include them here. This section adds credibility to your home health care business and acts as a repository for information that interested parties may seek for further understanding or validation of your business operations.

home care franchise owners

Implementing Your Home Care Business Plan for Long-Term Success

Implementing your home care business plan is an ongoing process that doesn’t end once the plan is written. It’s crucial to monitor, evaluate, and adapt your business plan according to the changing market conditions in the home health care industry.

Monitoring and Adapting Your Business Plan

Regularly review your home health care business plan to ensure that your business operations are aligned with your goals. Keep an eye on the cash flow and make necessary adjustments to stay financially healthy. Monitor your marketing plan’s effectiveness and adapt strategies as needed. Stay informed about changes in the home care industry, and be ready to pivot your services or approach to meet new demands or regulatory requirements. This adaptive approach is essential to ensure the sustainability of your home health care business.

Seeking Professional Advice and Mentorship

Embarking on this fulfilling journey as a business owner in the home health care business is an exciting step, and it’s always wise to have some expert advice along the way. Tap into the wealth of knowledge that industry veterans possess by engaging with them, and consider joining local groups or enlisting the guidance of a qualified clinical supervisor. These interactions are like having a knowledgeable GPS guiding you through the twists and turns of running a thriving home health care agency.

Additionally, let’s not forget the magic that happens when professionals collaborate. Building connections with other medical professionals is like adding extra horsepower to your business engine. It provides you with invaluable insights and helps establish a robust network for your home health care company. And if you’re looking for an extra boost, considering a partnership with a franchise could be just the ticket.

Partnering with an established franchise such as Nurse Next Door offers you a supportive backbone enriched with resources and expertise to help you make a real difference in your community through exceptional home health care services. Let’s make lives better, together!

Caregiver with client

Key Takeaways

In a nutshell, starting and running a successful home health care business requires careful planning, continuous monitoring, and adaptability to industry changes. Your home care business plan serves as the compass guiding your journey. Ensure it includes a concise executive summary, a comprehensive company description, a thorough industry analysis, clearly defined service offerings, an effective marketing plan, and realistic financial projections.

Remember the value of networking and seeking guidance from experienced professionals in the home health care services field. Stay focused on your goals, embrace innovation, and be passionate about delivering high-quality care. By doing so, you can make a meaningful difference in the lives of seniors and establish a thriving home health care business.

Are you ready to embark on a mission of providing exceptional care to seniors or those in need of care in your community? Don’t wait any longer! Take the first step today by exploring the Nurse Next Door franchising opportunities.

As a Nurse Next Door franchisee, you’ll have the support and resources of a trusted brand behind you, empowering you to make a positive impact on the lives of seniors while building a successful business. Join us in creating a healthier and happier community where you live.

Together, let’s make a difference!

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Heather Pollock


Getting to Know Home Care Services

Starting a home care business is a big job, but it can be really rewarding. First, let's talk about home care and home health services (they are two different things!) and why they're important.

Home health or home care services help people who need care but want to stay at home. This could be someone who's getting older, someone who's sick, or someone who's just come out of the hospital. These services make sure people can get the help they need without having to stay in a hospital or nursing home.

There is a distinction to be made between home care agencies and home health agencies, even though they both provide care in a person's home. The services they provide and the qualifications of their staff differ.

There are two main home healthcare service types: medical and non-medical. They're both important, but they do different things. Let's talk about what they are and how they can help people.


What is the Difference Between a Home Care Agency and a Home Health Agency?

People might need two main types of home care: medical home care and non-medical home care. They both help people but in different ways. Let's take a closer look at what each one does.

A home care agency typically provides non-medical assistance, which includes helping individuals with activities of daily living (ADLs), such as bathing, dressing, and meal preparation. This kind of care is great for people who have a hard time doing these tasks on their own because they're older, have disabilities, or have certain health conditions. Home care agencies can also provide companionship, light housekeeping, and transportation services. These services are essential for individuals who may have difficulties performing these tasks due to aging, disabilities, or certain health conditions.

On the other hand, a home health agency provides medical care to individuals at home. The staff at these agencies are healthcare professionals, such as registered nurses, physical therapists, and occupational therapists. These services include wound care, administering injections, monitoring vital signs, and providing physical therapy. Home health care is typically for individuals recovering from surgery or illness, those managing chronic diseases, or anyone needing skilled medical attention at home.

It's crucial to distinguish between the two when setting up a business because they require different resources, personnel, and possibly different licensing and regulatory compliance.

Understanding the Market for Home Care Services

As you get ready to launch your home care business, a key step is to get a clear understanding of the market. You need to know who's looking for private caregiver services and why they need them.

Examining the Growing Demand for Private Caregiver Services

The home care industry has seen consistent growth over the past few years, and this trend shows no signs of slowing down. According to the U.S. Bureau of Labor Statistics , employment in home healthcare services is projected to grow 34 percent from 2019 to 2029, much faster than the average for all occupations.

This surge in demand is attributed to various factors, such as the increasing aging population, the preference for aging in place, and the rise of chronic diseases.

Key Driving Factors for Home Care Demand in the US

Aging Population: The U.S. Census Bureau projects that by 2034, for the first time in U.S. history, adults aged 65 and older will outnumber children under 18. [U.S. Census Bureau. (2020). Older People Projected to Outnumber Children for First Time in U.S. History .] This demographic shift naturally leads to an increased demand for home healthcare services.

Preference for Aging in Place: A survey by AARP revealed that three out of four adults 50 years and older wish to stay in their homes and communities as they age. Home health care services make this possible by providing necessary care right at home.

Rise of Chronic Diseases: Chronic diseases such as heart disease, cancer, and diabetes are among the most prevalent health issues in the U.S. Home healthcare services can play a crucial role in managing these conditions, thereby driving up demand.

Understanding these key drivers will not only help you validate the need for your home care agency but also allow you to position your services effectively to meet the evolving needs of your potential clients.

The Global Home Health Care Industry Landscape

Home health care is a big part of health care all over the world. This is because of changes in society, better healthcare technology, and more people realizing that personalized home care can be beneficial. According to some research , the home healthcare market was worth $281.8 billion in 2019. What's more, it's expected to grow by 7.9% each year from 2020 to 20271.

The Home Care Scene in the US

The US home healthcare industry has its own special trends and growth factors. It's doing really well because of a mix of things like more older people, better medical care, and people wanting to grow old in their own homes.

Growth in the Industry: Home health care is one of the quickest growing industries in the US . In 2020, it made about $113.5 billion, and it's expected to grow by 7.9% each year through 2027.

Using Tech in Home Care: Tech has really changed home health care. Electronic health records, telemedicine, and remote systems monitoring patients have improved care and patient outcomes and made operations more efficient. Home Care agencies are now also using software to better manage their schedules, invoicing, and care documentation.

Focus on Value-Based Care: Home health care is moving towards a model that emphasizes the quality of care instead of the quantity. This is making providers focus on being proactive, preventing health issues, and giving holistic care to improve patient outcomes and reduce hospital readmissions.

COVID-19's Impact: The COVID-19 pandemic showed how important home healthcare services are. It created new opportunities and challenges for providers, including more demand for services, the need to use telehealth, and the need to implement tough infection control measures.

If you're thinking of getting into this industry, understanding these things can help you shape your business strategy and prepare to adapt to industry changes.

If you are considering starting a home care business, read the following articles:

Indiana: How to Start a Home Care Business in Indiana (2024 Guide)

California: How to Start a Home Care Business in California: A Step-by-Step Guide (2024)

Ohio: How to Start a Home Care Business in Ohio: Your One-Stop Guide (2024)

Pennslyvania: How to Start a Home Care Business in Pennsylvania: Your Essential Guide (2024)

What to Think About and Challenges When Starting a Home Care Business

Starting a home care business can be great but comes with some special challenges. Knowing what these challenges are and thinking about ways to tackle them can help you set up a business that does well.


Managing Travel to Home Care Clients

Traveling from one place to another is a big part of home health care. Sometimes, caregivers have to drive long distances, especially if their clients live far apart or in areas far from the city. This can affect their schedules and also cost your home care agency money.

It's important to make smart plans for traveling. Try to make the routes and schedules as simple as possible. This way, caregivers won't have to travel more than needed. Also, think about how travel time affects the caregivers' schedules and pay. If they feel like their travel time is valued, they're more likely to be happy and do their best work.

Look into home care agency scheduling software that uses GPS systems to help plan travel routes and verify visit logs. Another idea is to look into telehealth, which lets caregivers provide care over the Internet. This can be a great way to cut down on travel for cases where it's appropriate.

Using Tech to Improve Patient Outcomes

In the world of home health care, technology can make a big difference. It can help us do our jobs better and lead to better outcomes for our patients.

One key technology piece is electronic health records (EHRs). These are like digital files of a patient's health information. Caregivers can quickly get to this information when they need it. This helps them make better choices for a patient's care.

At ShiftCare, we provide a feature called Client Records Management that helps keep track of all these details in one place and instantly keep all caregivers in the loop with client updates, all securely stored on our cloud-based software. Your team can use the caregiver mobile app with the voice-to-text feature to record caregiver notes on the go. The mobile app for caregivers also makes it easy for them to log and track their time and expenses. Making their life easier and your admin work faster!

Another communication technology to explore is Telehealth services, where patients can talk to doctors through video calls. This is especially good for patients who live far away or can't travel easily.

Building the Basics of Your Home Care Agency

When starting a home care business, there are some important things you need to do first. These are the building blocks, or foundations, of your business.

This article is intended to provide general information and insights about starting a home care business. However, it is not legal advice and should not be treated as such. It's important to consult with a legal professional or advisor before making any decisions related to your business. Laws and regulations can vary by location and may change over time, so professional advice is crucial to ensure that your business is compliant and successful.


Setting Up Your Business and Getting an EIN

The first step in starting your own home care business is officially setting up your business. This is called forming a business entity. It's like telling the government, "Hey, I'm starting a new business!"

There are a few types of business entities you could choose, like a sole proprietorship, partnership, or corporation. It's a good idea to talk to a business advisor or lawyer to decide which one is right for you.

Once you've set up your business entity, the next step is to get an Employer Identification Number or EIN. This is a special number from the government that identifies your business. It's kind of like a Social Security number but for businesses.

Registering in Your State and Learning About Licenses

The next step is to register your business in your state. This lets your state know that your business exists and is ready to start working.

You'll also need to learn about any licenses you need to run a home care business in your state. Licenses are like official permissions from the government to do certain things. For example, you might need a special license to provide medical care in someone's home.

Choosing the Right License: Home Care vs Home Health Care

You can choose between two kinds of licenses. One is for a home care agency, which provides non-medical help like housekeeping and companionship. The other is for a home health care agency, which provides non-medical help and medical care like skilled nursing services. The right choice depends on the kind of services you want to offer.

For more information on choosing the right home care or home health care agency license, you can visit the official U.S. government's website for the Centers for Medicare & Medicaid Services (CMS). The CMS regulates these types of services and provides valuable resources on licensure and the differences between home care and home health care services.

Another valuable resource for state-specific information would be your state's Department of Health or equivalent agency. They often have detailed information about licensing and operational requirements for both types of agencies.

Certificate of Need (CON) for Home Health Care Facilities

In 14 states, you must file a Certificate of Need (CON) before you can start your agency. This is a way for the state to control how many healthcare services are available. They'll look at how much need there is in your area before letting you open your agency. For a comprehensive understanding of CON programs, refer to the National Conference of State Legislatures (NCSL) website.

Making a Solid Plan for Your Business

After setting up your business, the next big step is making a business plan . A business plan is like a roadmap for your business. It helps you figure out where you're going and how you'll get there. It also helps other people, like investors or banks, understand your business better.


Thinking About Equipment and Start-Up Costs

The first thing to think about in your business plan is what equipment you'll need and how much it will cost to start your business . This includes things like medical supplies for your care team, an app for caregivers, and software to keep track of appointments.

To figure this out, make a list of everything you'll need and research how much it costs. Don't forget to include any costs for getting licenses or insurance.

Researching Your Market and Competition

The last part of your business plan is doing some market research . You'll want to learn about the people who might use your home care services, which is your market. Find out what they need and how you can help them.

You should also look at other businesses that offer home care in your area, which are your competitors. Find out what they do well and where they could improve. This can help you figure out how to make your business stand out.

Setting Up Your Home Care Business

Embarking on your journey to establish a home care business is exciting. This involves several critical steps, but we'll simplify the process by breaking it down into manageable parts. Let's delve into how your business operations will take shape.

Getting Your Business Systems in Place

The first step in setting up a successful home care business is to adopt specialized tools to manage crucial aspects of your operations, like scheduling , invoicing , and tracking work hours . These tools often come as software solutions that you can use on different devices, including computers and smartphones. Using this kind of software can streamline operations, ensure you adhere to compliance standards, and make your everyday tasks go more smoothly. In our tech-driven world, the right software can make your home care agency's operations seamless.

Creating Clear Policies and Procedures

Next up, creating clear-cut policies and procedures for your business is important. Policies serve as a roadmap for how to react in different situations, while procedures provide a step-by-step guide on carrying out these policies. You might need a policy on what to do when a patient gets sick or a procedure explaining how to collect payments. Keeping your policies and procedures clear and well-documented is crucial for maintaining steady operations and following the rules in the home healthcare industry.

Finding the Right Caregivers and Team

Lastly, thinking carefully about the people who will make up your team is crucial. Primarily, your team should include skilled caregivers who will be responsible for delivering home health care services. However, you'll also require staff to handle administrative tasks such as scheduling, billing, and general team management to run your business effectively. Creating a balanced team with diverse skill sets is vital for the successful operation of your home healthcare business.


Understanding the Rules: State and Medicare/Medicaid Requirements

Running a home care business means you'll need to follow certain rules set by your state and get certifications, especially if you're planning to accept Medicare or Medicaid. While these rules can change from place to place, they usually need you to show that you can give top-notch care, have skilled staff, and follow health and safety rules. The process might seem tricky, but there's a handy guide from the Centers for Medicare & Medicaid Services on how to get certified.

Keep Up With Training for Caregivers 

Just getting up to standards isn't enough. You have to keep up with them too! One big part of this is making sure your caregivers keep learning. This helps you stay in line with all the rules and ensure your team gives the best care possible. There are lots of online places to find caregiver training courses, like CareAcademy . You can use these along with the training programs you do in-house. 

Take a look at the Institute for Professional Care Education for a big selection of training resources for home care providers.

Spreading the Word About Your Home Care Business

Once you've set up your home care agency, the next step is to let people know about it. This is where marketing comes in.

Creating Your Marketing Plan

Your marketing plan is like a roadmap. It guides you in telling people about your services in a way that makes them want to use them. You might use things like brochures, a website, or social media to get the word out. The goal is to reach as many potential clients as you can and let them know how your services can help them.

Making a marketing plan might sound hard, but don't worry. You don't have to figure it all out on your own. We've put together a guide that walks you through the steps. It's called The Ultimate Guide to Marketing Your Home Care Agency and a great place to start.

Remember, the key to growing your home care business is to connect with the people who need your services. Your marketing plan can help you do just that. It's all about getting the word out, showing people how you can help, and building relationships with your community. So go ahead, start planning, and watch your business grow!

Navigating Legal Aspects in Home Care

Understand hipaa and privacy rights.

When running a home care business, respecting your patients' privacy rights is a must. In the United States, the Health Insurance Portability and Accountability Act (HIPAA) is a key law that protects patient health information. Understanding and complying with HIPAA will ensure you respect your client's privacy and avoid legal issues. For more on HIPAA and its application in healthcare, refer to the U.S. Department of Health & Human Services' guide .

Understand Employment Laws

You'll also need to know about other rules related to work besides HIPAA. This could be laws about fair pay, extra hours, not discriminating, and more. Getting to know these laws will help you take care of your worker's rights and keep you out of legal trouble. You might find looking at the U.S. Department of Labor's guide helpful. Don't forget, and it's a good idea to talk to a lawyer to make sure you're following all the rules and laws you need to.

The Role of Home Care Software

As you get your home care business up and running, you'll quickly realize how important it is to have good software to help you out. Think of it as your digital assistant: it can help with scheduling, keep track of patients' details, help with billing, and much more. Having the right home care software can save you time, reduce errors, and make sure your patients get the best care possible. Want an easy-to-use solution? Look at ShiftCare's home care software , designed to streamline operations and improve patient care.

The Plus Side of Electronic Health Records (EHR)

Electronic Health Records (EHRs) are another tech tool you should consider. An EHR is a digital version of a patient's paper chart. It keeps track of their medical history, diagnoses, medications, and more. But it does much more than just replace paper records. With EHRs, you can easily share information with other healthcare providers, which means better-coordinated care for your patients. Also, EHRs can help prevent mistakes like medication errors, making care safer. Plus, they can save you a lot of storage space – no more filing cabinets stuffed with paper charts! So, it's worth considering an EHR system as part of your home care business technology toolbox.


Building Relationships with the Healthcare Community

Networking with hospitals, clinics, and other health care providers.

Your home care business doesn't exist in a vacuum. It's part of a much bigger healthcare world, including hospitals, clinics, and other providers. Building good relationships with these folks can really help your business. Why? Because they can refer patients to you. Plus, when you work together, it's easier to coordinate care and make sure patients get what they need. So, take the time to network with these healthcare providers. Attend industry events, schedule meet-and-greets, and consider joining professional associations. 

For more tips on networking in healthcare, check out this helpful guide from ShiftCare (section #7).

Working Together with Health Insurance Companies

Health insurance companies are another important part of the healthcare world. They can help patients afford your services, which is a win-win for everyone. But to make this work, you'll need to build good relationships with these companies. That means understanding their requirements and making sure you can meet them. It might involve filling out some paperwork and jumping through some hoops, but the benefits can be worth it. By working together, you can help more patients get the care they need. 

Remember, collaboration is key to a successful home care business!

Keeping Track of Your Home Care Business Success 

It's important to know if your home care business is succeeding. To do this, you should keep an eye on some special numbers or "Key Performance Indicators" (KPIs). Here are some KPIs that can help you understand how well your business is doing:

Client/Patient Satisfaction: This tells you if your clients are happy with the care they're receiving. You can measure this by asking them directly or by using satisfaction surveys. Make sure your surveys ask about different parts of your service - like the quality of care, punctuality of caregivers, and ease of communication.

Employee Satisfaction: This shows how much your caregivers enjoy their work. Happy employees often provide better care and are more likely to stay with your company for a longer time. You can check this by talking to your caregivers regularly and by using surveys or questionnaires.

Referral Rates: This is about how often other healthcare providers recommend your services to their patients. If you're getting a lot of referrals, that's a great sign! You can track this by asking new clients how they heard about your service and keeping a record of the answers.

Financial Health: This shows if you're making enough money to cover all your costs and still have some left over. You can check this by regularly reviewing your business income and expenses. It's also important to check how quickly you're being paid after providing services and how much money you owe or are owed.

Client Retention Rate: This tells you how many of your clients continue to use your service over time. If any of your clients stay with your service for a long time, it's a good indication that they're happy with the care they're receiving.

Caregiver Turnover Rate: This shows how often your caregivers leave your service. If your turnover rate is high, it could be a sign that your employees aren't happy or that there are problems with your working conditions.

Regularly checking these KPIs can help you understand what's working well and what might need to be improved in your business. This will let you fix any problems before they get bigger and can help you make your home care business even more successful.

Ready to jump-start your home care business with smart technology? Using a software solution from day, one can be a game-changer.

ShiftCare home care software is designed specifically to meet your home care agency's needs. Its scheduling, invoicing, compliance, and patient management features will help you reduce how long you spend on admin work. So you can spend more time on what really matters, building and growing your home care business.

Experience the ease and efficiency of managing a home care business with ShiftCare. 

Try ShiftCare free and make your first step in the home care industry a confident one!

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Home Healthcare Agency Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business ideas » Healthcare and Medical » Home Healthcare for Seniors

Home Healthcare Business

Are you about starting a home healthcare agency ? If YES, here is a complete sample home healthcare agency business plan template & feasibility report you can use for FREE .

Starting a home healthcare business is one of those businesses that require you to first look at the existing laws in the country or State you reside, before going all out to start the business.

This is so because there is hardly any country that does not pay serious attention on their health sector. The health industry is usually highly regulated so as to guide against the infiltration of quacks.

If you have interest in starting your own home healthcare business, then you would need to pay a visit to the health and medical regulatory body in your country ( the department of healthcare services ) to get all the needed information that is required before you can legally start your own home healthcare business in your city. Here is a sample home healthcare business that is capable of leading you all the way.

A Sample Home Healthcare Agency Business Plan Template

1. industry overview.

No doubt, the healthcare cum medical industry is perhaps one of the fastest growing and largest industries in the world; this is so because the wealth of any nation depends on the health of the nation. Obviously there is hardly any country where the healthcare industry is not handled with all seriousness.

As a matter of fact, the healthcare industry is known to gulp well over 10 percent of gross domestic product (GDP) of most developed countries.

Basically, a healthcare provider is a health professional such as nurse or doctor et al or an establishment such as a hospital or a medical clinic or a healthcare center / facility that provides preventive, curative, promotional, rehabilitative or palliative healthcare / medical services in a systematic way to individuals, families or communities.

While home healthcare services typically refers to a nursing visit or physician visit to a sick person at home for the purpose of assisting them with daily living cum therapy as regards their health or to provide treatment as required. These services are provided by certified home healthcare agencies.

There is indeed a very large market for home healthcare service providers in the united states and of course in most parts of the world.

For instance, the World Health Organization (W.H.O) estimated that there are about 9.2 million physicians, 19.4 million nurses and midwives, 1.9 million dentists and other dentistry personnel, 2.6 million pharmacists and other pharmaceutical personnel, and over 1.3 million community health workers worldwide. This goes to show that the healthcare industry is indeed one of the largest segments of the workforce.

Statistics has it that in 2011, healthcare costs paid to hospitals, physicians, nursing homes, diagnostic laboratories, pharmacies, medical device manufacturers and other players in the healthcare system business value chain, consumed an estimated value of 17.9 percent of the Gross Domestic Product (GDP) of the United States.

This indeed is the largest of any country in the world. As a matter of fact, experts projected that the healthcare share of the GDP of the United States will continue to grow, reaching 19.6 percent of GDP by 2016.

Those who need the services of home healthcare services providers (nurse’s aides, personal assistance services, mental health counselors, chiropractors, home care agencies, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers or home caregivers) are not restricted to the old and the elderly but also young adults and all those who can afford the services.

Generally, patients usually prefer that their physician or nurse or healthcare giver take care of them in the comfort of their homes when they can afford it especially in cases such a psychiatric cases, spine case and permanent or temporary disability et al.

Over and above, the delivery of healthcare services at all level of the business value chain of the healthcare sector is the most visible part of any country’s healthcare system. When it comes to paying home healthcare service providers, the model that is adopted by the health sector usually hold sway.

For instance, in the United States of America, healthcare service providers are either paid directly by the patient or the insurance company that covers the patient takes responsibility of the payment.

2. Executive Summary

Health Is Wealth™ Home Healthcare Services is a standard and certified healthcare service provider that will be located in will be based in Miami Beach, Florida –United States of America and we will cover other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.

We chose to operate in these cities because we know that our services will be in high demand due to the growing numbers of the aging population in these areas. Health Is Wealth™ Home Healthcare Services offer healthcare services such as preventive, curative, promotional, rehabilitative or palliative healthcare / medical services in a systematic way to individuals, families or communities.

We are well trained and equipped to service the market segments that require only home-based services. We are in the home healthcare services business to deliver excellent healthcare services to all those who will patronize our services.

We will also ensure that in the line of carrying out our duty, we comply with the laws and health regulations in Florida and The United States of America. Our employees are well trained and qualified to handle the wide range of home healthcare services.

Health Is Wealth™ Home Healthcare Services will operate a 24 hours 7 days a week healthcare service; our office facility will be opened round the clock to attend to clients. We have a standard medical call center that is manned by trained health workers.

Our workforce is going to be well trained to operate within the framework of our organization’s corporate culture and also to meet the needs of all our customers.

Health Is Wealth™ Home Healthcare Services will ensure that all our patients cum customers are given first class treatment whenever they visit our store.

We have a CRM software that will enable us manage a one on one relationship with our customers no matter how large the numbers of our customers’ base grows. Health Is Wealth™ Home Healthcare Services is a family business that is owned and managed by Dr. Marvin Clarkson and his wife Mercy Clarkson (Nurse).

Dr. Marvin Clarkson is going to be the Chief Executive Officer of the business; He is a qualified and well trained Medical Doctor with well over 15 years of experience working as a medical doctor and medical researcher with the United States’ government.

He will be ably supported by his wife Mercy Clarkson who has grown in her career to become one of the most respected senior nurses in Miami, Florida.

3. Our Products and Services

Health Is Wealth™ Home Healthcare Services is in the business of ensuring that our patient / clients are well treated and taken care of and our services will be carried out by highly trained:

Professional physicians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers who know what it takes to give our highly esteemed customers value for their money.

These are the home healthcare services that Health Is Wealth™ Home Healthcare Services will be offering;

  • Skilled Nursing
  • Nursing Aide
  • Social Work
  • Occupational, Physical, and Speech Therapy
  • Personal Injury Case Management
  • Home Medication Management
  • Personal Assistance Services

4. Our Mission and Vision Statement

  • Our vision is to become the number one choice when it comes to home healthcare service delivery in the whole of Florida and also to be amongst the top 20home healthcare service provider in the United States of America within the next 10 years.
  • Health Is Wealth™ Home Healthcare Services is in business is to establish a first class home healthcare service company that will take care of both highly placed clients and lowly placed clients as long as they can afford our services.
  • We want to become one of the leaders in the home healthcare services industry in Florida, and in The United States of America.

Our Business Structure

Health Is Wealth™ Home Healthcare Services is a business that will be built on a solid foundation. From the outset, we have decided to recruit only qualified professionals (physicians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers) to man various job positions in our organization.

We are quite aware of the rules and regulations governing the healthcare industry which is why we decided to recruit only well experienced and qualified employees as foundational staff of the organization. We hope to leverage on their expertise to build our business brand to be well accepted in Florida and the whole of the United States.

When hiring, we will look out for applicants that are not just qualified and experienced, but honest, customer centric and are ready to work to help us build a prosperous business that will benefit all the stakeholders (the owners, workforce, and customers).

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of five years or more. These are the positions that will be available at Health Is Wealth™ Home Healthcare Services;

  • Chief Medical Director/Chief Executive Officer

Physicians/Chiropractors/Medication Management Counselors/Physical Therapists

  • Nurses/Nurse’s Aides/Mental Health counselors
  • Information Technologist (Contract)
  • Home Health Caregivers/Home Caregivers/County Aging Workers/Rehabilitation Counselors
  • Sales Agent
  • Cashier (Counter Agent).

5. Job Roles and Responsibilities

Chief Medical Director/Chief Executive Officer:

  • Responsible for providing direction for the business
  • Creating, communicating, and implementing the organization’s vision, mission, and overall direction – i.e. leading the development and implementation of the overall organization’s strategy.
  • Attend to high profile clients and severe medical cases
  • Responsible for fixing prices and signing business deals
  • Responsible for recruitment
  • Responsible for payment of salaries
  • Responsible for signing checks and documents on behalf of the company
  • Evaluates the success of the organization
  • Responsible for providing professional medical services to our patients
  • Responsible for offering occupational, physical, and speech therapy
  • Responsible for handling medical emergencies


  • Responsible for managing the daily activities in the company (dispensary store)
  • providing advice about health issues, symptoms and medications in response to customer enquiries
  • Responsible for recruiting, training and managing staff
  • Responsible for processing prescriptions and dispensing medication
  • Responsible for ordering, selling and controlling medicines and other stock
  • Responsible for meeting medical representatives
  • Responsible for managing the organizations’ budgets
  • Responsible for keeping statistical and financial records
  • Responsible for preparing publicity materials and displays
  • Handle marketing services
  • Interfaces with third – party providers (vendors)
  • Handle any other duty as assigned by the CEO

Nurses/Nurse’s Aides/Mental Health Counselors

  • Responsible for managing our patients in their various houses
  • Handles personal injury case management
  • Responsible for offering home medication management services

Sales Agents

  • Manage external research and coordinate all the internal sources of information to retain the organizations’ best customers and attract new ones
  • Model demographic information as it relates to those who need our services
  • Source for clients for the company
  • Responsible for promoting the company’s image
  • Responsible for creating marketing and sales strategies, etc.
  • Represents the organization in some strategic business meetings
  • Handle any other duty as assigned by the floor manager (Pharmacist)

Information Technologist

  • Manage the organization website
  • Handles ecommerce aspect of the business
  • Responsible for installing and maintenance of computer software and hardware for the organization
  • Manage logistics and supply chain software , Web servers, e-commerce software and POS (point of sale) systems
  • Manage the organization’s CRM software application
  • Handles any other technological and IT related duties.

Cashier (Counter Agent):

  • Receives payments on behalf of the organization
  • Issues receipt to customers
  • Prepare financial report at the end of every working week
  • Handles financial transaction on behalf of the company
  • Interfaces with our bankers
  • Responsible for payment of tax, levies and utility bills
  • Handles any other duty as assigned by the office
  • Responsible for cleaning the store facility at all times
  • Ensure that toiletries and supplies don’t run out of stock
  • Cleans both the interior and exterior of the office facility
  • Handle any other duty as assigned by the office manager

6. SWOT Analysis

Health Is Wealth™ Home Healthcare Services is set to become one of the leading home healthcare service providers in Florida which is why we are willing to take our time to cross every ‘Ts’ and dot every ‘Is’ as it relates to our business.

We want our home healthcare services company to be the number one choice of all residence of Miami and other cities in Florida. We know that if we are going to achieve the goals that we have set for our business, then we must ensure that we build our business on a solid foundation. We must ensure that we follow due process in setting up the business.

Even though our Chief Medical Director (owner) has a robust experience in health management services, public health and medical research, we still went ahead to hire the services of business consultants that are specialized in setting up new businesses to help our organization conduct detailed SWOT analysis and to also provide professional support in helping us structure our business to indeed become a leader in the healthcare industry.

This is the summary of the SWOT analysis that was conducted for Health Is Wealth™ Home Healthcare Services;

Our strength lies in the fact that we have a team of well qualified professionals manning various job positions in our organization.

As a matter of fact, they are some of the best hands in the whole of Miami Florida. Our location, the Business model we will be operating on, opening 24 hours daily and 7 days in a week, multiple payment options, well equipped medical call center and our excellent customer service culture will definitely count as a strong strength for us.

Our perceived weakness lies in the point that we are just starting out and we may not have the required finance to sustain the kind of publicity that we intend giving the business and also the finance needed for the acquiring helicopter to facilitate rapid response in cases of medical emergencies.

  • Opportunities:

The opportunities that are available to home healthcare services providers are unlimited considering the fact that we have growing aging population in the United States and we are going to position our business to make the best out of the opportunities that will be available to us in Florida.

Just like any other business, one of the major threats that we are likely going to face is economic downturn and unfavorable government policies (healthcare reform). It is a fact that economic downturn affects purchasing power. Another threat that may likely confront us is the arrival of a new and bigger/well established home healthcare brand in same location where our outlet is located.


  • Market Trends

The health industry is indeed a thriving and dynamic industry; with the aid of technology, it is becoming easier to treat, manage and cure some ailments that before now are not easy to handle. No doubt there are many ways of providing healthcare services in this changing era since the place of delivery may be in the patient home, the community, the workplace, or in health facilities.

Before now is the practice for home healthcare service providers to restrict their services only to face-to-face delivery; a practice where a home healthcare provider and patient see each other physically most especially in the home of the patient.

But in recent time, the trend has changed especially with the advent of improvised/modern telecommunications technology.

It is now easier for home healthcare service providers to leverage on technology to take care of their patients/clients. The achieve this by communicating with their patient over the phone, video conferencing, the internet, email, text messages, and all other medium through which non-face-to-face communication can be achieved.

No doubt the home healthcare industry will continue to grow and become more profitable because the aging baby-boomer generation in United States is expected to drive increasing demand for this specialized service.

8. Our Target Market

Health Is Wealth™ Home Healthcare Services is in business to service a wide range of customers in Miami Beach, Florida – United States of America and other cities such as Green – Acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al.

We will ensure that we target but self – pay customers (who do not have health insurance cover), and those who have health insurance cover.

Generally, those who need home healthcare services ranges from those with the elderly people, to those who are bedridden to those who have mental/psychiatric challenges and any other ailment that the physician deems that the use of therapy, regular medical counseling and health management .

The fact that we are going to open our doors to a wide range of customers does not in any way stop us from abiding by the rules and regulations governing the home healthcare industry in the United States. Our staff is well – trained to effectively service our customers and give them value for their monies. Our customers can be categorized into the following;

  • Elderly people
  • Expectant Mothers
  • Injured Sports Men and Women
  • Disable/Physically Challenged People
  • People why mental/psychiatric challenges
  • The aged who might suffer from severe joint pains and every other age categories who falls under the conditions listed by the physician.

Our competitive advantage

Aside from the competitions that exist amongst various home healthcare service providers, they also compete against other healthcare services providers such as hospitals, health centers and community clinics et al. To be highly competitive in the home healthcare industry means that you should be able to deliver consistent quality patient service and should be able to meet the expectations of the physicians that referred patients to you.

Health Is Wealth™ Home Healthcare Services is coming into the market well prepared to favorably compete in the industry. Our office facility is well positioned (centrally positioned) and visible, we have enough parking space with good security.

Our staff is well groomed in all aspect of home healthcare service delivery and all our employees are trained to provide customized customer service to all our clients. our services will be carried out by highly trained professional physicians, nurses, nurse’s aides, mental health counselors, chiropractors, medication management counselors, physical therapists, county aging workers, and rehabilitation counselors, home health caregivers and home caregivers who know what it takes to give our highly esteemed customers value for their money.

We are going to be one of the few home healthcare service providers in the whole of Florida that will run a standard medical call center for 24 hours a day and 7 days a week. We have enough trained health workers that are ready to run a shift system.

Health Is Wealth™ Home Healthcare Services we will ensure that we offer a wide range of home healthcare services such as Skilled Nursing, Nursing Aide, Social Work, Occupational, Physical, and Speech Therapy, Personal Injury Case Management, Home Medication Management, and Personal Assistance Services. We will also ensuring that all our patient/clients are well treated and taken care of.


  • Sources of Income

Health Is Wealth™ Home Healthcare Services will ensure that we do all we can to maximize the business by generating income from every legal means within the scope of our industry. Below are the sources we intend exploring to generate income for Health Is Wealth™ Home Healthcare Services;

  • Skilled Nursing Home Services
  • Nursing Aide Home Services
  • Occupational, Physical, and Speech Therapy Home Services
  • Personal Injury Case Management Home Services

10. Sales Forecast

It is important to state that our sales forecast is based on the data gathered during our feasibility studies, market survey and also some of the assumptions readily available on the field. Below are the sales projections that we were able to come up with for the first three years of operations;

  • First Year-: $100,000 ( From Self – Pay Clients / Patients ): $250,000 ( From Health Insurance Companies )
  • Second Year-: $250,000 ( From Self – Pay Clients / Patients ): $500,000 ( From Health Insurance Companies )
  • Third Year-: $500,000 ( From Self – Pay Clients / Patients ): $1,500,000 ( From Health Insurance Companies )

N.B: This projection is done based on what is obtainable in the industry and with the assumption that there won’t be any major economic meltdown and natural disasters within the period stated above. Please note that the above projection might be lower and at the same time it might be higher.

  • Marketing Strategy and Sales Strategy

The marketing and sales strategy of Health Is Wealth™ Home Healthcare Services Store will be based on generating long-term personalized relationships with customers. In order to achieve that, we will ensure that we offer top notch all – round home healthcare services at affordable prices compare to what is obtainable in Florida.

All our employees will be well trained and equipped to provide excellent and knowledgeable home healthcare services and customer service.

We know that if we are consistent with offering high quality home healthcare service delivery and excellent customer service, we will increase the number of our customers by more than 25 percent for the first year and then more than 40 percent subsequently.

Before choosing a location for our home healthcare services, we conducted a thorough market survey and feasibility studies in order for us to be able to be able to penetrate the available market and become the preferred choice for residence of Miami Beach, Florida – United States of America and other cities such as Green – acres City, Miami, Jacksonville, Clearwater, Tampa, Fort Lauderdale, North Miami, West Palm Beach, Palm Harbor, Deltona, Orlando, Palm Bay and Panama City et al where our services will be available.

We have detailed information and data that we were able to utilize to structure our business to attract the numbers of customers we want to attract per time.

We hired experts who have good understanding of the home healthcare industry to help us develop marketing strategies that will help us achieve our business goal of winning a larger percentage of the available market in Florida.

In summary, Health Is Wealth™ Home Healthcare Services will adopt the following sales and marketing approach to win customers over;

  • Introduce our business by sending introductory letters to residence, business owners and corporate organizations
  • Advertise our business in community based newspapers, local TV and local radio stations
  • List our business on yellow pages ads (local directories)
  • Leverage on the internet to promote our business
  • Engage in direct marketing
  • Leverage on word of mouth marketing (referrals)
  • Enter into business partnership with hospitals, government agencies and health insurance companies.
  • Attend healthcare related exhibitions/expos.

11. Publicity and Advertising Strategy

We in the home healthcare services business -to become one of the market leaders and also to maximize profits hence we are going to explore all available conventional and non – conventional means to promote our home healthcare services business.

Health Is Wealth™ Home Healthcare Services has a long term plan of offering home healthcare services in various locations all around Florida which is why we will deliberately build our brand to be well accepted in Miami Beach before venturing out.

As a matter of fact, our publicity and advertising strategy is not solely for winning customers over but to effectively communicate our brand to the general public. Here are the platforms we intend leveraging on to promote and advertise Health Is Wealth™ Home Healthcare Services;

  • Place adverts on both print (community based newspapers and magazines) and electronic media platforms
  • Sponsor relevant community health programs
  • Leverage on the internet and social media platforms like; Instagram, Facebook , twitter, YouTube, Google + et al to promote our brand
  • Install our Bill Boards on strategic locations all around Miami Beach Florida.
  • Engage in road show from time to time
  • Distribute our fliers and handbills in target areas
  • Ensure that all our workers wear our branded shirts and all our vehicles and ambulances are well branded with our company’s logo et al.

12. Our Pricing Strategy

Health Is Wealth™ Home Healthcare Services will work towards ensuring that all our services are offered at highly competitive prices compare to what is obtainable in The United States of America.

On the average, home healthcare service providers usually leverage on the fact that a good number of their clients do not pay the service charge from their pockets; private insurance companies, Medicare and Medicaid are responsible for the payment. In view of that, it is easier for home healthcare service providers to bill their clients based on their discretion.

However, in some cases home healthcare service providers also adopt the hourly billing cum per visit billing method. For example, it is easier and preferable for home healthcare services providers to bill personal injury case management services by the hour as against a fixed price.

  • Payment Options

At Health Is Wealth™ Home Healthcare Services, our payment policy is all inclusive because we are quite aware that different people prefer different payment options as it suits them. Here are the payment options that will be available in every of our outlets;

  • Payment by cash
  • Payment via Point of Sale (POS) Machine
  • Payment via online bank transfer (online payment portal)
  • Payment via Mobile money
  • Check (only from loyal customers)

In view of the above, we have chosen banking platforms that will help us achieve our payment plans without any itches.

13. Startup Expenditure (Budget)

If you are looking towards starting a home healthcare services company, then you should be ready to go all out to ensure that you raise enough capital to cover some of the basic expenditure that you are going to incur. The truth is that starting this type of business does not come cheap.

You would need money to secure a standard office facility, you could need money to acquire medical equipment and supply and you would need money to pay your workforce and pay bills for a while until the revenue you generate from the business becomes enough to pay them. Besides it is expensive to acquire a standard well – equipped ambulance.

Detailed Cost Analysis for Starting a Home Health Care Service Business

The items listed below are the basics that we would need when starting our home healthcare services business in the United States, although costs might vary slightly;

  • The Total Fee for Registering the Business in Maryland – $750.
  • Legal expenses for obtaining licenses and permits – $1,500.
  • Marketing promotion expenses for the grand opening of People’s Choice Retail Store in the amount of $3,500 and as well as flyer printing (2,000 flyers at $0.04 per copy) for the total amount of $3,580.
  • Cost for hiring Consultant – $2,500.
  • Cost for Computer Software (Accounting Software, Payroll Software, CRM Software, Microsoft Office, QuickBooks Pro, drug interaction software, Physician Desk Reference software) – $7,000
  • Insurance (general liability, workers’ compensation and property casualty) coverage at a total premium – $3,400.
  • Cost for payment of rent for 12 month at $1.76 per square feet in the total amount of $105,600.
  • Cost for office remodeling (construction of racks and shelves) – $20,000.
  • Other start-up expenses including stationery ($500) and phone and utility deposits ($2,500).
  • Operational cost for the first 3 months (salaries of employees, payments of bills et al) – $100,000
  • The cost for Start-up inventory (stocking with a wide range of products) – $150,000
  • Storage hardware (bins, rack, shelves,) – $3,720
  • Cost for Nurse and Drugs Supplies (Injections, Bandages, Scissors, et al)- $3,000
  • Cost for medical equipment – $50,750
  • Cost of purchase of ambulance and other vehicles : $100,000
  • The cost for the purchase of furniture and gadgets (Computers, Printers, Telephone, TVs, tables and chairs et al): $4,000.
  • The cost of Launching a Website: $700
  • The cost for our opening party: $7,000
  • Miscellaneous: $10,000

We would need an estimate of $750,000 to successfully set up our home healthcare services company in Miami Beach – Florida. Please note that this amount includes the salaries of all the staff for the first month of operation.

Generating Funding/Startup Capital for Health Is Wealth™ Home Healthcare Services

Health Is Wealth™ Home Healthcare Services is a private business that is solely owned and financed by Dr. Marvin Clarkson and his wife Mercy Clarkson (Nurse). We do not intend to welcome any external business partner which is why we have decided to restrict the sourcing of the start – up capital to 3 major sources.

These are the areas Health Is Wealth™ Home Healthcare Services intends to generate our start – up capital;

  • Generate part of the start – up capital from personal savings
  • Source for soft loans from family members and friends
  • Apply for loan from my Bank

N.B: We have been able to generate about $200,000 ( Personal savings $150,000 and soft loan from family members $50,000 ) and we are at the final stages of obtaining a loan facility of $550,000 from our bank. All the papers and document have been signed and submitted, the loan has been approved and any moment from now our account will be credited with the amount.

14. Sustainability and Expansion Strategy

The future of a business lies in the numbers of loyal customers that they have the capacity and competence of the employees, their investment strategy and the business structure . If all of these factors are missing from a business (company), then it won’t be too long before the business close shop.

One of our major goals of starting Health Is Wealth™ Home Healthcare Services is to build a business that will survive off its own cash flow without the need for injecting finance from external sources once the business is officially running.

We know that one of the ways of gaining approval and winning customers over is to sell our home healthcare services a little bit cheaper than what is obtainable in the market and we are well prepared to survive on lower profit margin for a while.

Health Is Wealth™ Home Healthcare Services will make sure that the right foundation, structures and processes are put in place to ensure that our staff welfare are well taken of. Our company’s corporate culture is designed to drive our business to greater heights and training and re – training of our workforce is at the top burner.

As a matter of fact, profit-sharing arrangement will be made available to all our management staff and it will be based on their performance for a period of three years or more. We know that if that is put in place, we will be able to successfully hire and retain the best hands we can get in the industry; they will be more committed to help us build the business of our dreams.

Check List/Milestone

  • Business Name Availability Check:>Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Leasing of facility and remodeling the facility: In Progress
  • Conducting Feasibility Studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Purchase of Medical Equipment and Ambulances et al: In Progress
  • Purchase of the Needed furniture, racks, shelves, computers, electronic appliances, office appliances and CCTV: In progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Compilation of our list of products that will be available in our pharmacy store: Completed
  • Establishing business relationship with vendors (wholesale pharmaceutical companies): In Progress

Related Posts:

  • Non-Medical Home Care Business Plan [Sample Template]
  • Senior Home Care Business Plan [Sample Template]
  • Nursing Home Business Plan [Sample Template]
  • 5 Best Places to Recruit Caregivers for your Home Healthcare
  • Halfway House Business Plan [Sample Template]

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How to craft a successful home care business plan

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As a home care provider, you run your business with compassion and knowledge of the job and the local community you work with. After you’ve learned more about how to become a caregiver and how to start a home care business , you’re ready to formalize your ideas with a business plan.

How to create a home care business plan

Your business plan is an essential part of the portfolio you’ll present to banks, investors, and partners before launching your company. Every entrepreneur can benefit from a business plan that helps you turn your vision into action and strategize for success. For home care professionals, there are unique additions and considerations for your business plan. From determining your core local clients to developing the marketing plan to reach them, this guide will walk you through nine sections for your home care business plan.

1. The executive summary

The executive summary kicks off your business plan and hooks whoever’s reading it to learn more about your company and your proposal. Think of it a little like a sales pitch for your business and a preview of everything you lay out in your business plan.

A home care business summary should include:

  • Your mission and the populations your business will serve 
  • A list of your primary services 
  • The demand for these services in your community
  • What sets your home care business apart from competitors
  • Your vision 
  • A summary of funding needs

2. The company description

As a home care business working with clients in need, your professional background should be front and center. Your company description offers a snapshot of you and your business, and should include:

  • The registered (or intended registered) name of your business
  • The location of your company headquarters, and the neighborhoods, area, or city your business will reach
  • Management, primary personnel, and their professional backgrounds
  • Any licenses or certifications your staff has

Different types of home care services will need different certifications, like medical home care companies compared with senior transportation providers, for example. Make sure to research and include the requirements in your county, city, and state. 

If you’re in the preliminary stages of creating your home care business and haven’t secured the required licenses yet, mention any certifications you’re pursuing in this description.

3. Your business mission and goals

The mission and goals section of a business plan outlines the primary objectives of your company and how you plan to achieve them.

As more Americans advance into the senior age bracket, demand for credible home care businesses is rising. This need can help position your business for success and give you more opportunities to refine your mission and select specific populations to focus on. 

The need for home care help for senior relatives in particular has grown. As home care professional Christine Friedberg reflects, “I used to get on the phone and talk with clients about home care being an option for them or for their loved one, but it was like a new concept…For a long time, we were trying to educate the community about what home care was. Demand is greater than ever now.”

Medicare’s Triple Aim program may provide general inspiration for your own company goals. Their three pillars are :

  • Centering and improving patients’ experience of care
  • Improving health outcomes of patients served
  • Mitigating the cost of care for individuals

From a business perspective, working with specific demographics may give you a leg up on funding. Based in Alexandria, VA, Griswold Home Care works with the area’s large population of aging veterans. To reach more of them, Griswold joined the cross-regional VA Community Care Network to provide in-home services to veterans needing extra support at home.

Not only was Griswold able to reach a specific community in need, but the program also helped this local home care business secure funding directly from the Department of Veterans Affairs . “We’ll see anywhere from 5 to 20 hours a week that the VA is covering, in terms of actually contracting with us directly. They pay us directly…so it’s very easy for the veteran to get in, take advantage of this program and take advantage of this care.”

In the home care industry, other demographics include:

  • LGBTQ senior citizens
  • People with Alzheimer’s
  • People living with disabilities
  • Non-seniors living with disabilities
  • Adults whose first language isn’t English

Keep your demographic in mind as you refine your company’s identity and plan for growth. It will determine the steps you’ll take to fund your business and reach the neighbors who need you most.

4. Your services

The services section of your home care business plan sets the vision for what your business will specifically do. There are two main types of home care companies and services:

  • Non-medical home care services – This type of home care business is not licensed to administer medical services or healthcare to its clients. Instead, they provide support, companionship, and home assistance. Services may include driving clients to doctor’s appointments, taking them to the park, or preparing meals.
  • Medical home care services – Medical home care providers are staffed by nurses or other medical professionals licensed to administer medical care to their clients.

With the growing need for at-home healthcare businesses, some of the most common home care services include:

  • Assistance with dressing, bathing, and using the toilet
  • Companionship and diversion
  • House cleaning and support with daily chores
  • Transportation
  • Hospice care
  • Continued education for older adults
  • Physical therapy and rehabilitation
  • Prescription fulfillment services
  • Administering medication
  • Tracking vital physical or psychological health 
  • Senior citizen relocation assistance
  • Specialty nursing for a long-term illness or disability
  • 24-hour emergency services

Get specific about what caregiver duties you’ll provide your clients, narrowing down your list with the most needed services in your local community. With 1 in 3 U.S. households on Nextdoor , you’ll be able to connect with neighbors, and your most important clients, with a free business page.

5. Your management structure

This section of your business plan establishes the legal status of your company, which affects other details, from the extent of your liability as the owner to how you’ll file taxes.

The most common business structures for home care providers are:

  • Limited liability company (LLC)
  • Sole proprietorship
  • Partnership
  • Corporation

To choose the right business structure for you, consider:

  • Liability – Every business is financially and legally liable to compensate for injuries committed on their watch. Consult with an accountant to take stock of your personal assets to choose a framework that gives you adequate protection.
  • Taxes – Your home healthcare business structure will determine how the profits you earn are taxed, whether through your business, on your individual tax returns, or a hybrid of both. As a general rule, the larger your company is, or the more shareholders it has, the more complex the tax process will be.
  • Growth expectations – Whether your home care company will focus on your neighborhood or expand nationwide, your business structure should reflect your desired administrative capacity and set the stage for investors who want to scale alongside you. 

While S corporations and C corporations are often better suited for larger-scale companies, it’s possible to change the legal structure of your organization as it grows. Consider hiring experts, like a lawyer and an accountant, to help you with this stage of the process, especially if they have advised other local businesses in your area.

6. Your marketing plan

Show potential funding partners you know the modern home care market and set your local business up for success with marketing goals that cover the following bases:

  • Digital marketing - In a job as intimate as home care, any new caregiver business begins on the local level. Sign up for a free business page with Nextdoor to instantly unlock a network of verified neighbors near you. Keep your business page updated with your story, photos, and contact information so local clients can find you and easily get in touch. Introduce yourself, share job listings, and keep neighbors updated on your business with free posts or hyperlocal advertising tools to reach more clients in specific ZIP codes you want to grow your business in.
  • Partnerships – Qualified home care providers may be eligible to partner with care networks already plugged into local consumer demand. If properly licensed, apply to enroll as a Medicaid or Medicare partner. 
  • Word-of-mouth marketing – Since home care professionals are a part of their clients’ and families’ lives, your local reputation will be important. Build trust in you and your services with testimonials on your website and recommendations on Nextdoor. 72% of neighbors there have been influenced by a business recommendation and 71% have shared one. Consider sharing your website and Nextdoor page with former clients to ask them for a recommendation.

Anything that makes your home care business unique, include in this section of your business plan. With a growing population of aging Americans, entrepreneurs are getting creative about the types of care they offer to suit different lifestyles.

Take Dr. Bill Thomas . He thought there should be a senior care option in place of the traditional nursing home so he created Minka, a company that builds small dwellings tailormade for seniors who want extra assistance, community, and autonomy in their advanced years. Says Thomas, “I think there will continue to be congregate housing, but the more choices people find in front of them, the more they’ll find something that suits them best.”

7. Your core financials

The next two sections cover your financial history with projections for your home care business’s future. This will be important for your business strategy, as well as for potential lenders, investors, or partners. 

The finance section of your home care business plan should include:

  • Income statement
  • Balance sheet
  • Expected revenue
  • A list of your assets and debts
  • A summary of company expenses
  • Desired loans

If you plan to enroll as a provider through a network like Medicare, mention in this section of your business plan.

8. Financial projections

This section of your home care business plan is important if you’re asking for an investment of any kind as it covers the funding you’re requesting, what you’ll use it for, and your plan to pay it back.

Financial projections should cover at least three years. Fortunately, the home care industry is slated for financial growth in the coming years. In the U.S. alone, the compound annual growth rate for home health care is projected to be 14.2% between 2021 and 2027.

However you plan to grow your company, speak with your local bank to discuss the full spectrum of financial options before finalizing your business plan. 

You can also connect with fellow home care professionals through Nextdoor for more information on the local home care industry in and around your neighborhood. This will help you get a realistic sense of your financial plan and the next few years operating your business.

9. Appendix

Your business plan’s appendix is where you’ll include any supporting or miscellaneous information for your business goals that didn’t have a place in the earlier sections.

Consider including:

  • The resumes or educational and professional backgrounds of you, the owner, and your core staff
  • Medical or non-medical licensing, or the licenses you plan to secure
  • Any legal permits your business needs or the ones you plan to secure
  • Bank statements, loans, and personal or professional credit history
  • Real estate information about your business’ headquarters, if applicable

Make local connections through Nextdoor

As more Americans age, local caregivers are increasingly integral to the health of their communities. An effective home care business plan should tell this compelling narrative, sharing why there’s a need for your services and what you’ll do to fulfill them in your area. 

If you’re just building your local home care business, start close to home with a Nextdoor Business Page. Signing up is free, takes just a few minutes, and will help you spread the word, turning your neighbors into your first clients. 

Nextdoor Editorial Team

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Home Health Care Business Plan Sample

Published Oct.12, 2016

Updated Apr.23, 2024

By: Jakub Babkins

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home health care agency business plan

Table of Content

Home health care business plan for starting your own agency

Home healthcare is an $84 billion industry in the US alone and it is not going to slow down anytime soon. It covers both non-medical healthcare and skilled home health care, teams. Currently, the US has over 386,000 home health care businesses and employed more than 1.7 million people approx. But this home care agency business plan is not for everyone. It involves high stress and peer pressure in its environment.

If you have a strong desire and passion for helping others, this industry is very rewarding and you can earn a lot with compassion. If you are eager in starting a home health care business and you are raising funds, it is highly recommended to come up with a well-detailed home health care agency business plan .

Executive Summary

In this section, you need to explain all the basics of your homecare business model. Explain how much amount you want to raise for the growth of your home care agency business plan while presenting the expected operations and financials over the upcoming 3 years. For Example,

Wheatland Home Healthcare Agency (Your Company Name) is a Kansas-based home healthcare agency aimed to provide home health care agency business plan services to the targeted market.

The business

If you are wondering how to start a home care agency business plan , you first need to start with arranging for sophisticated medical equipment. Make a detailed list of all the business equipment you will have to arrange.

In addition, your company should also be licensed by your respective state and who will be your partners.

When making a homecare business model, you should also include who will be the owner and main operator of the home care agency business plan . For example, Wheatland Home Health Care Agency will be based in Wilson County (the area) and owned by its operators and investors. The office will be managed in a lavish office space in Kansas.

Your customers are basically the families and individuals looking for social services and/or home health care. If you are asking how to get clients for non-medical home care business, you can generally ask attorneys, physicians, healthcare facilities and insurance companies who can refer those patients to you.

Business Target

Consider this example when writing a business plan for home health care.

Home Helth Care Business Plan - 3 Years Profit Forecast

“The company is expecting a home care agency business plan loan for five years from its investors. Later on, we will manage the cash flow to finance the growth without requiring additional debt. We are planning to have full sales on credit. Hence, we need proper cash in hand in the beginning to avoid any problems related to the cash flow.“

Company Summary

When setting up a care company, you need to explain how you are going to make a presence in the market. For example, “Our agency will be based on a central location of Kansas and provide different services to clients and patients coming from Wilson, Neodesha, and Labette Counties, within the radius of 90 miles of our corporate offices.”

Here, you need to define your company and goals when you start a home health agency. You may want to promote and market your business and make an online presence by starting a website.

Company Owner

As a limited liability company, Wheatland Home Healthcare Agency is going to be operated and owned by Ethan J. Peter (name of company owner).

Along with years of experience in healthcare industry, explain the specialization and qualification of the owner.

Why the home health care business is being started?

When making a non-medical home care business plan, explain what the inspiration behind starting a home health care business is. Do you have a strong desire to help people in need which drives you to make it your profession? Do you have years of experience working with a healthcare organization and want to start your own home care agency business ?

How the home health care business will be started?

Since your company is being started, you will definitely need to address your funding matters and startup costs. In this sample business plan for home health care agency, we have listed the assets required for start-up, a breakdown of start-up expenses, total cash required, total funding, investment, capital, and other liabilities along with the startup cost diagram to illustrate the expected expenses, investment, assets, bank loans for the business plan , etc.

Home Helth Care Business Plan - Startup Cost

Attorney Fees – Setting Up Limited Liability Company$820
State of Kansas Home Health Agency License $90
Medisoft Billing Program plus Support $4 760
Professional Liability Insurance $2 800
*Assuming 25% down of $12,000.00 $0
Workman’s Comp Insurance Deposit $410
Premises and Content Insurance Deposit 
*Assuming 25% down of $1200.00 $0
Contract Retainer with PT/OT/ST $504
Deposit plus First 
*Assuming $200.00/Month 
Phone Set Up (Excluding Phones) 
Utilities Deposit $150
Post Office Box $26
Inserted Row $0
2 Computers (Fully Loaded) $3 000
4-in-1 Printer/Fax/Copier/Scanner $750
QuickBooks Pro $150
Phones $290
Pager $50
Inserted Row $0
Stationary $200
Business Cards $150
Brochures $150
Other Misc. Office Supplies $450
Start-up Assets  
Cash Required $41 900
Other Current Assets $1 900
Long-term Assets 
Total Requirements $61 360
Start-up Expenses to Fund 
Start-up Assets to Fund $43 800
Non-cash Assets from Start-up $2 900
Cash Requirements from Start-up $41 002
Additional Cash Raised $0
Cash Balance on Starting Date $43 902
Liabilities and Capital  
Current Borrowing $0
Long-term Liabilities $43 900
Accounts Payable (Outstanding Bills) $0
Other Current Liabilities (interest-free) $0
Planned Investment  
Elizabeth Patzer $20 000
Investor $0
Additional Investment Requirement $0
Loss at Start-up (Start-up Expenses) ($23 904)
 ($43 904)
Total Funding $70 000

Services for Customers

The home health care agency’s business plan  should be aimed to help people with special needs as well as elderly in their daily activities and providing all the living help at the home. The company should also retain a skilled team of healthcare professionals, in case any specific treatment is required or in an emergency.

Along with at-home facilities, your company should also provide facilities to take them out if they are not able to drive their car. In this section of a home care business plan , you need to describe the services you have planned to offer.

As a home care agency business plan , you should ensure that all your clients/patients have been treated well. The following services should be provided by specialized health care nurses, physicians, mental health counselors, physical therapists, chiropractors, rehab counselors, and other professionals who are well versed in providing valuable services. Your non-medical home care agency business plan should include the following services –

  • Nursing Aide
  • Skilled Nursing
  • Social Work
  • Personal Injury Case Management
  • Physical, Occupational, and Speech Therapy
  • Personal Assistance Services
  • Home Medication Management

When creating a business plan for home health care agency, you may also want to provide resource linkage, assessment, planning, and reporting services for injury case management.

Marketing Analysis of Home Health Care Business

When raising funds, the best thing you can have is a foolproof business plan for home care agency to stand out in the competition and market your home care agency business . It goes without saying that home health care is a growing industry on both the national and international levels. If your community has become an over-saturated market with a lot of home health care services out there, you must have a lot of competition to face.

However, a strong marketing analysis on home care services business plan can save you and drive you to penetrate the market in the short term. You need to figure out the weak point of your competitors and make proper marketing strategies.

For better insight, consider the following home health care business plan example in this segment.

The Wheatland Home Health Care Agency’s customer base would generally consist of patients who are referred by health care facilities, physicians, and other professionals in the industry. Only a small percentage of patients will be covered by any private insurance company because most of them will be insured by Medicare.

For the Personal Injury Case Management part of our business plan for domiciliary care agency , the customer base generally includes the patients who have been injured in any kind of accident or in the job. These patients will usually get referred from lawyers looking for case management services for them or insurance providers seeking help to mitigate the loss of their clients and injuries.

Market Trends

The target customers of personal injury case management, as well as home health care agency business plans , usually don’t do comparison shopping directly. They usually prefer the health care providers who are referred by their physicians.

When it comes to assessing competition in the field of home health care, the most vital aspect here is consulting with other professionals and asking them to refer their clients to your agency. For doing this, your agency should provide the best patient care and showcase professional business management and organization, and pertinent and current qualifications. It will help you to capture most of the personal injury case management and home healthcare market in your respective area.

Marketing Segmentation

The target market for home health care business should be an aging population who prefer to stay in their homes most of the time and go out mostly for seeing doctors instead of being admitted to a nursing home. Your target market should cover especially the patients who are aging and need proper health care services from a well-trained nursing team. They may also call for other home care services like social work, to gather important resources from the community.

Home Helth Care Business Plan - Market Analysis

Potential CustomersGrowth
HHC – Medicare Patients10%1001101211331469,92%
HHC – Medicaid and Private Insurance Patients10%252831343710,30%
PICM Patients30%121621273530,68%

Next up, you may want to target the people who need personal injury case management solutions. You can help them in dealing with financial, medical, and work-related issues.

Since you are specialized in community-oriented services and home health care services, your target should be the segments where your services are needed the most. By working for those market segments, which need home care services only, you can save overhead expenses significantly, as you will not have to set up another office space.

Product Pricing

When acquiring home health care services, trust is the major aspect for both referring professionals and customers. They should have faith in your home care service for reliability, professionalism, and quality.

The customer’s choices do not get affected with the pricing of your services. A lot of those services are covered under Medicaid, Medicare, and private insurance providers and the rates are set by them.

Pricing is a very determining factor for personal injury case management. It varies from case to case and is paid on an hourly basis, which is subject to negotiation. When it comes to providing personal injury case management, the pricing would be estimated on the total time required for the client.

Absolutely great experience I am really …

Absolutely great experience I am really impressed thanks Alex

Home Health Care Marketing Strategy

So you have developed a full-fledged domiciliary care agency business plan and go through all the complex processes of Medicare and state certificate. You have also recruited experienced professionals.

The next thing to consider in a free business plan for home health care agency is the way to attract clients. This is where you need proper marketing strategies to ensure success.

Competitive Analysis

In this free home health care agency business plan , we will start with your competitive edge. If you have learned a lot of daily administrative duties and have experience in home care agency business plan , you can make it successful. Your reputation can help you build a solid client base even before starting your home care agency business plan .

Sales Strategy

Here, you need to provide the best patient service and ensure complete satisfaction from referring to healthcare facilities and physicians.

Sales Monthly

This part should contain your projected monthly sales in home  care agency business .

Home Helth Care Business Plan - Sales Monthly

Sales Yearly

Define annual projected sales from your home care agency business  for three years in this section.

Home Helth Care Business Plan - Sales Yearly

Sales Forecast

It reflects the conservative average of your patients during the first year along with modest year-by-year rise. It should be based on the total patients you are seeing currently in your home health care business.

Home Helth Care Business Plan - Unit Sales

Home Health Care Sales$424 000$466 400$513 040
Personal Injury Case Management Sales$18 900$19 656$20 442
Direct Cost of SalesYear 1Year 2Year 3
Home Health Care Sales$21 721$21 000$22 000
Personal Injury Case Management Sales$2 410$2 500$2 600
Subtotal Direct Cost of Sales$24 131$23 500$24 600

Personnel plan

In this sample business plan for home care agency, the following points should explain your staff requirements, benefits, and costs needed to hire them. You should also consider the cost of living of employees without affecting your administration. Project the growth of the client base without any impact on payroll because of increased working hours.

Company Staff

In this part of home health care agency business plan free, explain the number of employees as well as who will be hired for what services and for how many hours.

Average Salary of Employees

This part should contain the breakdown of an average salary of each employee in your organization for the next three years.

Administrative Director – MSW/MPA$0$0$0
Clinical Director – Kellene Walker, RN$51 000$53 550$56 228
Administrative Assistant$17 600$18 480$19 404
Skilled Nurse$19 400$20 370$21 389
Nurses Aide$9 900$10 395$10 915
Social Worker$7 450$7 823$8 214

Financial Plan

As discussed, you may want to use your cash flow to finance your growth. It will ensure slow but steady growth. The collection of dues plays a very vital role in non-medical home care business profits. The services will be mainly reimbursed by insurance providers.

Important Assumptions

The assumptions table showcases major annual assumptions based on tax rates, interest rates as well as staff requirements. For example, we assume no major recession and strong economy, as well as no major and unexpected change in federal policy.

Plan Month123
Current Interest Rate9,00%9,00%9,00%
Long-term Interest Rate7,00%7,00%7,00%
Tax Rate29,00%29,00%29,00%

Brake-even Analysis

In a home health care agency business plan , the brake-even analysis is based on Average Variable cost (per unit) and fixed monthly costs.

Home Helth Care Business Plan - Break-even Analysis

Monthly Units Break-even Assumptions$ 17 500
Average Percent Variable Cost7%
Estimated Monthly Fixed Cost $17 100

Projected Profit and Loss

You need to project the overall profit and loss, with sales, rise over the next three years and profits should be notable in the beginning. Also, project your expenses and primary costs in providing services on a monthly and annual basis.

Other Costs of Sales$0$0$0
Gross Profit
Gross Margin %
Payroll$105 350$110 618$116 148
Payroll Taxes$ 26 928$ 27 381$ 27 860
Depreciation$ 0$ 0$ 0
Rent$ 2 160$ 3 240$ 3 240
Heat and Lights$ 1 620$ 1 620$ 1 620
Phone$ 2 700$ 2 700$ 2 700
Cell Phones$ 1 620$ 1 620$ 1 620
Water and Garbage$ 540$ 540$ 540
Internet Access$ 270$ 270$ 270
Professional Liability Insurance$ 8 100$ 10 800$ 10 800
Workman’s Comp Insurance$ 540$ 540$ 540
Premises and Content Insurance$ 540$ 540$ 540
Advertising and Marketing$ 1 080$ 1 080$ 1 080
Meals and Entertainment$ 540$ 540$ 540
Professional Development$ 1 080$ 1 080$ 1 080
Office Equipment and Supplies$ 4 320$ 4 320$ 4 320
Contracted Therapists: OT/PT/ST$ 17 550$ 17 550$ 17 550
Nursing Supplies$ 10 800$ 10 800$ 10 800
Profit Before Interest and Taxes$ 233 031$ 267 318$ 307 633
EBITDA$ 233 031$ 267 318$ 307 633
Interest Expense$ 3 900$ 3 900$ 3 900
Taxes Incurred$ 45 826$ 52 684$ 60 747
Net Profit$ 183 305$ 210 734$ 242 987
Net Profit/Sales41,39%43,36%45,55%

Profit Monthly

In this section, you need to show the detailed overview of your monthly profits for the 12 months in the next 3 years.

Home Helth Care Business Plan - Profit Monthly

Profit Yearly

Your investors may also want to know the annual profits your business can make. It will also help you determine the estimate annual profits for the next 3 years

Home Helth Care Business Plan - Profit Yearly

Gross Margin Monthly

Home Helth Care Business Plan - Gross Margin Monthly

You need to show up your gross margin on monthly basis in your home health care agency business plan .

Gross Margin Yearly

Home Helth Care Business Plan - Gross Margin Yearly

For this section, you can mentkon the annual gross margin you are expecting for the next 3 years.

Projected Cash Flow

Home Helth Care Business Plan - Project Cash Flow

It should show annual amounts, which are important to your home care agency business plan success. The following table represents cash flow on monthly basis.

Cash Received   
Cash from Operations   
Cash Sales$0$0$0
Cash from Receivables
SUBTOTAL CASH FROM OPERATIONS$ 341 293$ 470 096$ 521 854
Additional Cash Received   
Sales Tax, VAT, HST/GST Received$0$0$0
New Current Borrowing$0$0$0
New Other Liabilities (interest-free)$0$0$0
New Long-term Liabilities$0$0$0
Sales of Other Current Assets$0$0$0
Sales of Long-term Assets$0$0$0
New Investment Received
SUBTOTAL CASH RECEIVED$ 341 293$ 470 096$ 521 854
ExpendituresYear 1Year 2Year 3
Expenditures from Operations   
Cash Spending$109 343$118 322$121 870
Bill Payments
SUBTOTAL SPENT ON OPERATIONS$ 270 383$ 315 006$ 330 608
Additional Cash Spent   
Sales Tax, VAT, HST/GST Paid Out$0$0$0
Principal Repayment of Current Borrowing$0$0$0
Other Liabilities Principal Repayment$0$0$0
Long-term Liabilities Principal Repayment$0$0$0
Purchase Other Current Assets$0$0$0
Purchase Long-term Assets$0$0$0
SUBTOTAL CASH SPENT$270 383$315 006$330 608
Net Cash Flow$70 910$155 091$191 246
Cash Balance$ 115 509$ 270 600$ 461 846

Projected Balance Sheet

The projected balance sheet of your home care business should show sufficient net worth growth and healthy financial state.

Current Assets   
Cash$115 509$270 600$461 846
Accounts Receivable$91 647$101 624$112 843
Other Current Assets$3 500$3 500$3 500
Long-term Assets   
Long-term Assets$0$0$0
Accumulated Depreciation$0$0$0
Liabilities and CapitalYear 1Year 2Year 3
Current Liabilities   
Accounts Payable$18 248$15 979$17 262
Current Borrowing$0$0$0
Other Current Liabilities$0$0$0
Long-term Liabilities$50 000$50 000$50 000
Paid-in Capital$20 000$20 000$20 000
Retained Earnings($21 901)$122 408$289 745
Earnings$144 309$167 337$201 182
Net Worth$142 408$309 745$510 927

Business Ratios

The projected business ratios should be based in comparison with home health care standards. Expect to have healthy ratios for risk, profitability, and returns.

Sales Growth0,00%10,89%11,04%3,71%
Percent of Total Assets    
Accounts Receivable43,51%27,05%19,52%21,90%
Other Current Assets1,66%0,93%0,61%45,48%
Total Current Assets100,00%100,00%100,00%69,58%
Long-term Assets0,00%0,00%0,00%30,42%
Current Liabilities
Long-term Liabilities23,74%13,31%8,65%21,27%
Total Liabilities32,40%17,56%11,63%56,89%
Percent of Sales    
Gross Margin94,43%94,86%95,26%100,00%
Selling, General & Administrative Expenses63,87%67,34%66,75%85,34%
Advertising Expenses0,00%0,00%0,00%0,70%
Profit Before Interest and Taxes48,54%50,63%54,66%0,35%
Main Ratios    
Total Debt to Total Assets32,40%17,56%11,63%62,84%
Pre-tax Return on Net Worth144,76%77,18%56,25%1,09%
Pre-tax Return on Assets97,86%63,62%49,71%2,93%
Additional RatiosYear 1Year 2Year 3 
Net Profit Margin33,33%34,86%37,74%NA
Return on Equity101,33%54,02%39,38%NA
Activity Ratios    
Accounts Receivable Turnover4,724,724,72NA
Collection Days577373NA
Accounts Payable Turnover9,8312,1712,17NA
Payment Days273229NA
Total Asset Turnover2,061,280,92NA
Debt Ratios    
Debt to Net Worth0,480,210,13NA
Current Liab. to Liab.0,270,240,26NA
Liquidity Ratios    
Net Working Capital$ 192 408$ 359 745$ 560 927NA
Interest Coverage52,5460,7672,85NA
Additional Ratios    
Assets to Sales0,490,781,08NA
Current Debt/Total Assets9%4%3%NA
Acid Test6,5217,1526,96NA
Sales/Net Worth304%155%104%NA
Dividend Payout000NA

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Care centered on you. It’s about time.

Your life is centered around your home. That’s why we bring personalized, skilled care directly to you. Our teams of nurses and therapists really get to know you and understand your needs and goals. We spend our time helping you make the most of yours—so you can get back to doing what you love.

Helping you regain your confident, independent self 

Whether you’re managing a chronic condition or recovering from illness, injury, surgery or hospitalization, our expert teams of nurses and therapists will work together with you, your family and your healthcare providers to create a personalized care plan. We provide the skilled care, education and tools you need to regain your independence and live healthier and happier. 

Is home healthcare right for you or your loved one?

Take our quick assessment to find out.

Are you interested in care for yourself or for a loved one?

Great now let’s talk about what challenges your loved one you might have., do any of the following describe your loved one you.

Select all that apply.

It looks like your loved one you could benefit from home health, and services may be covered by Medicare. Now let’s check for coverage in your area to see if CenterWell Home Health is near you.

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We serve people in more than 350 locations across 38 states.

Give us a moment to check for service in their your area.

Your loved one you might be outside our service area, but we may still be able to help is 're in our service area call to speak to a nurse about how to get started with centerwell home health..

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Balance and mobility, neurological, wounds and skin, why choose us, care centered on you.

One size does not fit all when it comes to healthcare. That’s why we personalize your treatment to meet your specific needs and evolve our approach as your needs change.

Care for better outcomes

We bring the latest innovations and techniques in clinical care right into your home with one goal in mind: improving your quality of life.

Care with compassion

When we’re invited into your home, we honor that with respect. Our clinicians will provide the expert care you need with the compassion and kindness you deserve.   

Care in your community

We have locations in hundreds of cities across 38 states. Our clinicians understand your community because it's their community too.

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Resources for patients and families

If you or someone you love needs help, it can be hard to know what to do or where to begin. Start here with our library of resources, tips, guides and checklists.

Our latest articles

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Your Healthcare, Your Choice, Our Privilege

Home health, palliative, hospice, and private duty.













Providing High-Quality, Compassionate Health Care

to Patients in Their Own Homes

As a local provider of Home Health, Hospice, and In-Home Care in Western Pennsylvania, Anova Health Care System provides high-quality, compassionate health care to patients in their own homes. Our mission is to be the premier provider of patient-centered, at-home care. With our commitment to transparent communication, lifelong learning, and extensive training, our family-owned and operated agency is dedicated to touching lives and empowering patients and providers alike. Our approach to healthcare prioritizes our patients receiving dignified care in any setting as we strive to provide peace of mind for families and as much independence as possible for patients.

Value that we bring: 


Whether you or your loved one needs home health, hospice, palliative care or personal care, we have high-quality programs to meet your needs through our continuum of care. We ensure you receive the right care at the right time. We partner with your Doctor, Hospital, and/or facility to ensure smooth care transitions and care coordination, which helps reduce avoidable rehospitalizations. As such, we’re able to create a customer focused environment with physicians, hospitals, and patients and provide meaningful individualized treatment, 24-hour turnaround, on-call management, and nursing coordination.

Qualified Staff :

Our team ensures top-quality clinicians and caregivers through a meticulous screening and selection process. We train our employees in the skills they require, and we regularly monitor their performance.

Our screening process includes a review of professional and character references, proper licensure or certification, criminal history record, child abuse record, satisfactory work record, and drug testing. Employees must also comply with Anova policies and our Agreement to Standards.


Home health care.

Home health services provide skilled medical assistance and support to patients who require care to recover from illness, surgery or injury. This team of clinicians help patients to become as self-sufficient as possible in the comfort of their own homes. At Anova, our trained and experienced home health carers can offer services such as administering medications, vital sign monitoring, various specialized therapies and nursing care.

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Palliative Care

Palliative care is specialized medical care for people living with a serious illness. This type of care is focused on providing relief from the symptoms and stress of the illness. The goal is to improve quality of life for both the patient and the family.  At Anova, our team of doctors, nurses and other specially trained specialists work directly with patients, their families and other doctors to provide an extra layer of support that complements the patient's ongoing care.

Hospice Care

Hospice care provides compassionate support for terminally ill patients and those they love as they approach the end of their life. Hospice care can benefit patients by providing relief from symptoms and pain while offering a greater sense of personal wellbeing. At Anova, we ensure that terminally ill patients and their loved ones receive dignified, compassionate care that promotes comfort and dignity as they enter the last chapter of their life story.

Private Duty / In-Home Care

Private Duty / In-Home care includes any non-medical support services that allow a person to live safely in their home. In-home care services can help someone who is aging and needs assistance to live independently; is managing chronic health issues; is recovering from a medical setback; or has special needs or a disability. Our in-home private duty services can be availed without a physician’s order and offer greater convenience, privacy, and a more economical alternative to the rising costs of institutions.

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Our continuum of care is a system that provides a range of services to meet our patient’s needs. It recognizes that the patient is most vulnerable when there are gaps in support and care and exists to fill those gaps.

As an agency offering the full spectrum of at-home services, we play an important role in the continuum of care in two different ways, by providing care that helps you or your loved one after a hospital discharge or by providing care that helps you or your loved one to safely remain at home and reduce the risk of needing to be hospitalized.

Oftentimes, our agency enters the picture after you or your loved one is discharged from the hospital. The provider essentially empowers the patient to return home or remain at home safely. With services in place, you or your loved one has support with activities of daily living, instrumental activities of daily living, medication management, and any treatments that your physician prescribes.

You or your loved ones needs might include the services of home health nurses and therapists. Examples include therapy, administering IV medications, or wound care.

Alternately, you or your loved one may need support only with non-medical needs, and this support may be necessary even if you or your loved one were never hospitalized. In this case, our In-Home care service can enter the picture before a hospitalization our support can help to prevent a hospitalization. For example, we might put a fall prevention plan in place or ensure a patient with Alzheimer’s is supervised and safe.

You or your loved one’s needs might also shift from medical to non-medical. This often happens as you make progress in your recovery and regain independence. In some cases, needs can also increase. You or your loved one might benefit by moving from in home care or a transitional care program to palliative care or hospice care. These changes ensure you or your loved one’s needs are met in the most appropriate and dignified way.

While some homecare providers offer only one type of care, our patients benefit by choosing a provider that offers the full-spectrum of at-home service lines including home care, home health, palliative care, and hospice care.

Choosing an agency offering multiple lines of service like Anova means that you or your loved one doesn’t have to switch providers if your needs change. Your family also doesn’t need to start the arduous process of shopping for a new provider again. This helps to prevent potentially harmful gaps in service and reduces stress and anxiety for your entire family.


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“We want you to know we were very pleased with the service we received from Anova, especially our nurse. She was wonderful in all the help she gave us. You have a very good team and I would recommend Anova anytime.”

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Navigating Home Health Policies and Procedures: A Guide for Healthcare Professionals

By MedBridge

on May 29, 2024

Categories: Home Health , Nursing

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Home health policies and procedures are designed to ensure compliance with regulations , promote high-quality patient care , and protect both employees and patients. Understanding and adhering to these policies is crucial. This guide provides practical advice on how to access, navigate, and effectively implement home health policies and procedures.

Understanding the Importance of Home Health Policies and Procedures

Home health policies and procedures serve multiple purposes, including:

  • Compliance: They help ensure that an agency meets federal, state, and local regulations, including Medicare requirements, OSHA standards, and HIPAA regulations.
  • Quality of care: By standardizing care practices, they promote consistency and high standards in patient care.
  • Protection: They protect employees by providing clear guidelines for expected behavior and actions, reducing ambiguity in decision-making.

Accessing Home Health Policies and Procedures

The first step in navigating home health policies and procedures is knowing where to find them. Here are some tips for doing so:

  • Look in your employee handbook. Most organizations provide a handbook that includes key policies and procedures.
  • Explore your agency’s intranet or internal portal. Many organizations host their policies on an internal website accessible to all employees.
  • Ask supervisors and mentors. Don’t hesitate to ask supervisors or more experienced colleagues where to find specific policies.
  • Attend team meetings. Policies are often reviewed during regular team meetings, providing an opportunity to clarify any questions.

Staying Informed and Updated

Home health policies and procedures can change frequently due to new regulations or shifts in best practices. Staying informed about these updates is essential. These strategies can help:

  • Perform regular reviews. Make it a habit to review relevant policies regularly. This can be scheduled as part of your professional development routine.
  • Opt into continuing education. Participate in ongoing training sessions offered by your organization or through professional development platforms like MedBridge .
  • Follow MedBridge communications. Subscribe to MedBridge emails and follow us on social media ( Instagram , Facebook , TikTok , LinkedIn , X , and/or YouTube ). We frequently share updates about regulatory changes, new best practices, and relevant educational content.
  • Connect with professional networks. Join professional organizations and online forums where updates and changes are frequently discussed.

Implementing Home Health Policies and Procedures

Understanding and accessing home health policies is only the first step; implementing them effectively in daily practice is crucial. Here are four key steps:

  • Familiarize yourself with relevant policies. Identify which policies directly impact your role. For instance, a nurse might focus on patient care procedures, while administrative staff should be well-versed in documentation and data handling policies.
  • Ask questions. If you’re unsure how a policy applies to a specific situation, ask a mentor or supervisor. It’s better to seek clarification than to make a potentially harmful mistake.
  • Integrate policies into daily practice. Incorporate policy guidelines into your routine tasks. This might include following specific steps for patient care, adhering to documentation standards, or maintaining equipment according to safety protocols.
  • Report discrepancies. If you notice discrepancies between policies and actual practices, report them through the appropriate channels. This not only helps improve the system but also ensures you are protected from liability.

Case Study Examples

To illustrate the importance of adhering to home health policies, consider these hypothetical examples:

Medication Management Error

A nurse was disciplined after using a scopolamine patch from one patient on another, violating the organization’s medication disposal policy. This incident led to his suspension and probation, highlighting the critical need for strict adherence to medication management procedures.

Drug Diversion Scenario

Another case involved a nurse who was found to have diverted oxycodone from a patient. Failure to report the incident promptly resulted in disciplinary action against both the nurse involved and the one who did not follow proper reporting channels.

Patient Safety Incident

In another instance, a nurse failed to properly document and follow up on a patient’s reported allergy. The patient subsequently experienced an allergic reaction to a medication administered by a different healthcare provider. This incident led to the nurse being placed on probation and required additional training on documentation and patient safety protocols. This underscores the importance of meticulous adherence to documentation procedures to prevent adverse patient outcomes.

These examples illustrate the potential consequences of not following home health policies and procedures, and serve as reminders of the importance of compliance for both legal protection and patient safety.

Personal Protections and Accountability

Personal protections.

Home health policies and procedures not only guide the provision of care but also offer significant personal protections for healthcare professionals. These protections include:

  • Clarity and guidance: Policies remove ambiguity by clearly outlining acceptable behavior and decision-making protocols. This helps professionals understand their roles and responsibilities, ensuring they act within the legal and ethical boundaries.
  • Legal protection: By following established policies and procedures, healthcare professionals can protect themselves against legal repercussions in case of adverse events. Adhering to these guidelines demonstrates a commitment to industry standards and regulatory compliance.
  • Professional security: Understanding and following policies can prevent disciplinary actions, including termination or license suspension. Policies provide a framework for consistent and fair disciplinary measures, ensuring that employees are treated justly.


Healthcare professionals are accountable both professionally and legally to adhere to their organization’s policies. The consequences of failing to follow these guidelines can be severe:

  • Disciplinary actions: Non-compliance with policies can lead to various disciplinary actions, ranging from warnings to termination. Organizations have specific procedures to address policy violations, ensuring that actions are taken fairly and consistently.
  • Legal and professional liability: Failing to follow policies can result in legal liabilities, including lawsuits and reports to professional licensing boards. This can damage a professional’s reputation and career prospects.
  • Patient safety: Non-compliance can directly impact patient safety, leading to harmful or even fatal outcomes. Healthcare professionals must adhere to policies to ensure they provide the highest standard of care.

Navigating home health policies and procedures effectively is essential for ensuring compliance, providing high-quality care, and protecting both healthcare professionals and patients. By staying informed, regularly reviewing policies, and integrating them into daily practice, healthcare professionals can maintain high standards of care and minimize the risk of disciplinary actions or legal issues.

Stay Informed and Proactive

Connecting with professional resources and continuing education platforms like MedBridge can help you stay ahead in the ever-evolving field of home health care. By staying informed and proactive, you can ensure that your work not only meets regulatory standards but also delivers the best possible care to your patients. For further details and comprehensive training, watch the MedBridge course Policies and Procedures: What’s in It for Me?


Combining powerful digital patient care tools with the highest quality education, MedBridge is committed to making healthcare better by empowering providers. Organizations across the care continuum use MedBridge to provide an enriched, digitally enabled experience that engages patients while streamlining and simplifying care. Designed with over a decade of insight from more than 300,000 clinicians and 25 million patients, MedBridge has helped thousands of organizations realize better patient outcomes. Learn more

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Make A Plan

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Make a plan today. Your family may not be together if a disaster strikes, so it is important to know which types of disasters could affect your area. Know how you’ll contact one another and reconnect if separated. Establish a family meeting place that’s familiar and easy to find.

Step 1: Put a plan together by discussing the questions below with your family, friends or household to start your emergency plan.

  • How will I receive emergency alerts and warnings ?
  • What is my shelter plan?
  • What is my evacuation route?
  • What is my family/household communication plan ?
  • Do I need to update my emergency preparedness kit ?

Step 2:  Consider specific needs in your household.

As you prepare your plan tailor your plans and supplies to your specific daily living needs and responsibilities. Discuss your needs and responsibilities and how people in the network can assist each other with communication, care of children, business, pets or specific needs like operating medical equipment. Create your own personal network for specific areas where you need assistance. Keep in mind some these factors when developing your plan:

  • Different ages of members within your household
  • Responsibilities for assisting others
  • Locations frequented
  • Dietary needs
  • Medical needs including prescriptions and equipment
  • Disabilities or access and functional needs including devices and equipment
  • Languages spoken
  • Cultural and religious considerations
  • Pets or service animals
  • Households with school-aged children

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Step 4: Practice your plan with your family/household

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How To Start A Business In 11 Steps (2024 Guide)

Katherine Haan

Updated: Apr 7, 2024, 1:44pm

How To Start A Business In 11 Steps (2024 Guide)

Table of Contents

Before you begin: get in the right mindset, 1. determine your business concept, 2. research your competitors and market, 3. create your business plan, 4. choose your business structure, 5. register your business and get licenses, 6. get your finances in order, 7. fund your business, 8. apply for business insurance, 9. get the right business tools, 10. market your business, 11. scale your business, what are the best states to start a business, bottom line, frequently asked questions (faqs).

Starting a business is one of the most exciting and rewarding experiences you can have. But where do you begin? There are several ways to approach creating a business, along with many important considerations. To help take the guesswork out of the process and improve your chances of success, follow our comprehensive guide on how to start a business. We’ll walk you through each step of the process, from defining your business idea to registering, launching and growing your business.

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The public often hears about overnight successes because they make for a great headline. However, it’s rarely that simple—they don’t see the years of dreaming, building and positioning before a big public launch. For this reason, remember to focus on your business journey and don’t measure your success against someone else’s.

Consistency Is Key

New business owners tend to feed off their motivation initially but get frustrated when that motivation wanes. This is why it’s essential to create habits and follow routines that power you through when motivation goes away.

Take the Next Step

Some business owners dive in headfirst without looking and make things up as they go along. Then, there are business owners who stay stuck in analysis paralysis and never start. Perhaps you’re a mixture of the two—and that’s right where you need to be. The best way to accomplish any business or personal goal is to write out every possible step it takes to achieve the goal. Then, order those steps by what needs to happen first. Some steps may take minutes while others take a long time. The point is to always take the next step.

Most business advice tells you to monetize what you love, but it misses two other very important elements: it needs to be profitable and something you’re good at. For example, you may love music, but how viable is your business idea if you’re not a great singer or songwriter? Maybe you love making soap and want to open a soap shop in your small town that already has three close by—it won’t be easy to corner the market when you’re creating the same product as other nearby stores.

If you don’t have a firm idea of what your business will entail, ask yourself the following questions:

  • What do you love to do?
  • What do you hate to do?
  • Can you think of something that would make those things easier?
  • What are you good at?
  • What do others come to you for advice about?
  • If you were given ten minutes to give a five-minute speech on any topic, what would it be?
  • What’s something you’ve always wanted to do, but lacked resources for?

These questions can lead you to an idea for your business. If you already have an idea, they might help you expand it. Once you have your idea, measure it against whether you’re good at it and if it’s profitable.

Your business idea also doesn’t have to be the next Scrub Daddy or Squatty Potty. Instead, you can take an existing product and improve upon it. You can also sell a digital product so there’s little overhead.

What Kind of Business Should You Start?

Before you choose the type of business to start, there are some key things to consider:

  • What type of funding do you have?
  • How much time do you have to invest in your business?
  • Do you prefer to work from home or at an office or workshop?
  • What interests and passions do you have?
  • Can you sell information (such as a course), rather than a product?
  • What skills or expertise do you have?
  • How fast do you need to scale your business?
  • What kind of support do you have to start your business?
  • Are you partnering with someone else?
  • Does the franchise model make more sense to you?

Consider Popular Business Ideas

Not sure what business to start? Consider one of these popular business ideas:

  • Start a Franchise
  • Start a Blog
  • Start an Online Store
  • Start a Dropshipping Business
  • Start a Cleaning Business
  • Start a Bookkeeping Business
  • Start a Clothing Business
  • Start a Landscaping Business
  • Start a Consulting Business
  • Start a Photography Business
  • Start a Vending Machine Business

Most entrepreneurs spend more time on their products than they do getting to know the competition. If you ever apply for outside funding, the potential lender or partner wants to know: what sets you (or your business idea) apart? If market analysis indicates your product or service is saturated in your area, see if you can think of a different approach. Take housekeeping, for example—rather than general cleaning services, you might specialize in homes with pets or focus on garage cleanups.

Primary Research

The first stage of any competition study is primary research, which entails obtaining data directly from potential customers rather than basing your conclusions on past data. You can use questionnaires, surveys and interviews to learn what consumers want. Surveying friends and family isn’t recommended unless they’re your target market. People who say they’d buy something and people who do are very different. The last thing you want is to take so much stock in what they say, create the product and flop when you try to sell it because all of the people who said they’d buy it don’t because the product isn’t something they’d buy.

Secondary Research

Utilize existing sources of information, such as census data, to gather information when you do secondary research. The current data may be studied, compiled and analyzed in various ways that are appropriate for your needs but it may not be as detailed as primary research.

Conduct a SWOT Analysis

SWOT stands for strengths, weaknesses, opportunities and threats. Conducting a SWOT analysis allows you to look at the facts about how your product or idea might perform if taken to market, and it can also help you make decisions about the direction of your idea. Your business idea might have some weaknesses that you hadn’t considered or there may be some opportunities to improve on a competitor’s product.

home healthcare agency business plan

Asking pertinent questions during a SWOT analysis can help you identify and address weaknesses before they tank your new business.

A business plan is a dynamic document that serves as a roadmap for establishing a new business. This document makes it simple for potential investors, financial institutions and company management to understand and absorb. Even if you intend to self-finance, a business plan can help you flesh out your idea and spot potential problems. When writing a well-rounded business plan, include the following sections:

  • Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It describes the proposed new business and highlights the goals of the company and the methods to achieve them.
  • Company description: The company description covers what problems your product or service solves and why your business or idea is best. For example, maybe your background is in molecular engineering, and you’ve used that background to create a new type of athletic wear—you have the proper credentials to make the best material.
  • Market analysis: This section of the business plan analyzes how well a company is positioned against its competitors. The market analysis should include target market, segmentation analysis, market size, growth rate, trends and a competitive environment assessment.
  • Organization and structure: Write about the type of business organization you expect, what risk management strategies you propose and who will staff the management team. What are their qualifications? Will your business be a single-member limited liability company (LLC) or a corporation ?
  • Mission and goals: This section should contain a brief mission statement and detail what the business wishes to accomplish and the steps to get there. These goals should be SMART (specific, measurable, action-orientated, realistic and time-bound).
  • Products or services: This section describes how your business will operate. It includes what products you’ll offer to consumers at the beginning of the business, how they compare to existing competitors, how much your products cost, who will be responsible for creating the products, how you’ll source materials and how much they cost to make.
  • Background summary: This portion of the business plan is the most time-consuming to write. Compile and summarize any data, articles and research studies on trends that could positively and negatively affect your business or industry.
  • Marketing plan: The marketing plan identifies the characteristics of your product or service, summarizes the SWOT analysis and analyzes competitors. It also discusses how you’ll promote your business, how much money will be spent on marketing and how long the campaign is expected to last.
  • Financial plan: The financial plan is perhaps the core of the business plan because, without money, the business will not move forward. Include a proposed budget in your financial plan along with projected financial statements, such as an income statement, a balance sheet and a statement of cash flows. Usually, five years of projected financial statements are acceptable. This section is also where you should include your funding request if you’re looking for outside funding.

Learn more: Download our free simple business plan template .

Come Up With an Exit Strategy

An exit strategy is important for any business that is seeking funding because it outlines how you’ll sell the company or transfer ownership if you decide to retire or move on to other projects. An exit strategy also allows you to get the most value out of your business when it’s time to sell. There are a few different options for exiting a business, and the best option for you depends on your goals and circumstances.

The most common exit strategies are:

  • Selling the business to another party
  • Passing the business down to family members
  • Liquidating the business assets
  • Closing the doors and walking away

Develop a Scalable Business Model

As your small business grows, it’s important to have a scalable business model so that you can accommodate additional customers without incurring additional costs. A scalable business model is one that can be replicated easily to serve more customers without a significant increase in expenses.

Some common scalable business models are:

  • Subscription-based businesses
  • Businesses that sell digital products
  • Franchise businesses
  • Network marketing businesses

Start Planning for Taxes

One of the most important things to do when starting a small business is to start planning for taxes. Taxes can be complex, and there are several different types of taxes you may be liable for, including income tax, self-employment tax, sales tax and property tax. Depending on the type of business you’re operating, you may also be required to pay other taxes, such as payroll tax or unemployment tax.

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When structuring your business, it’s essential to consider how each structure impacts the amount of taxes you owe, daily operations and whether your personal assets are at risk.

An LLC limits your personal liability for business debts. LLCs can be owned by one or more people or companies and must include a registered agent . These owners are referred to as members.

  • LLCs offer liability protection for the owners
  • They’re one of the easiest business entities to set up
  • You can have a single-member LLC
  • You may be required to file additional paperwork with your state on a regular basis
  • LLCs can’t issue stock
  • You’ll need to pay annual filing fees to your state

Limited Liability Partnership (LLP)

An LLP is similar to an LLC but is typically used for licensed business professionals such as an attorney or accountant. These arrangements require a partnership agreement.

  • Partners have limited liability for the debts and actions of the LLP
  • LLPs are easy to form and don’t require much paperwork
  • There’s no limit to the number of partners in an LLP
  • Partners are required to actively take part in the business
  • LLPs can’t issue stock
  • All partners are personally liable for any malpractice claims against the business

Sole Proprietorship

If you start a solo business, you might consider a sole proprietorship . The company and the owner, for legal and tax purposes, are considered the same. The business owner assumes liability for the business. So, if the business fails, the owner is personally and financially responsible for all business debts.

  • Sole proprietorships are easy to form
  • There’s no need to file additional paperwork with your state
  • You’re in complete control of the business
  • You’re personally liable for all business debts
  • It can be difficult to raise money for a sole proprietorship
  • The business may have a limited lifespan


A corporation limits your personal liability for business debts just as an LLC does. A corporation can be taxed as a C corporation (C-corp) or an S corporation (S-corp). S-corp status offers pass-through taxation to small corporations that meet certain IRS requirements. Larger companies and startups hoping to attract venture capital are usually taxed as C-corps.

  • Corporations offer liability protection for the owners
  • The life span of a corporation is not limited
  • A corporation can have an unlimited number of shareholders
  • Corporations are subject to double taxation
  • They’re more expensive and complicated to set up than other business structures
  • The shareholders may have limited liability

Before you decide on a business structure, discuss your situation with a small business accountant and possibly an attorney, as each business type has different tax treatments that could affect your bottom line.

Helpful Resources

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There are several legal issues to address when starting a business after choosing the business structure. The following is a good checklist of items to consider when establishing your business:

Choose Your Business Name

Make it memorable but not too difficult. Choose the same domain name, if available, to establish your internet presence. A business name cannot be the same as another registered company in your state, nor can it infringe on another trademark or service mark that is already registered with the United States Patent and Trademark Office (USPTO).

Business Name vs. DBA

There are business names, and then there are fictitious business names known as “Doing Business As” or DBA. You may need to file a DBA if you’re operating under a name that’s different from the legal name of your business. For example, “Mike’s Bike Shop” is doing business as “Mike’s Bikes.” The legal name of the business is “Mike’s Bike Shop,” and “Mike’s Bikes” is the DBA.

You may need to file a DBA with your state, county or city government offices. The benefits of a DBA include:

  • It can help you open a business bank account under your business name
  • A DBA can be used as a “trade name” to brand your products or services
  • A DBA can be used to get a business license

Register Your Business and Obtain an EIN

You’ll officially create a corporation, LLC or other business entity by filing forms with your state’s business agency―usually the Secretary of State. As part of this process, you’ll need to choose a registered agent to accept legal documents on behalf of your business. You’ll also pay a filing fee. The state will send you a certificate that you can use to apply for licenses, a tax identification number (TIN) and business bank accounts.

Next, apply for an employer identification number (EIN) . All businesses, other than sole proprietorships with no employees, must have a federal employer identification number. Submit your application to the IRS and you’ll typically receive your number in minutes.

Get Appropriate Licenses and Permits

Legal requirements are determined by your industry and jurisdiction. Most businesses need a mixture of local, state and federal licenses to operate. Check with your local government office (and even an attorney) for licensing information tailored to your area.

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Open a Business Bank Account

Keep your business and personal finances separate. Here’s how to choose a business checking account —and why separate business accounts are essential. When you open a business bank account, you’ll need to provide your business name and your business tax identification number (EIN). This business bank account can be used for your business transactions, such as paying suppliers or invoicing customers. Most times, a bank will require a separate business bank account to issue a business loan or line of credit.

Hire a Bookkeeper or Get Accounting Software

If you sell a product, you need an inventory function in your accounting software to manage and track inventory. The software should have ledger and journal entries and the ability to generate financial statements.

Some software programs double as bookkeeping tools. These often include features such as check writing and managing receivables and payables. You can also use this software to track your income and expenses, generate invoices, run reports and calculate taxes.

There are many bookkeeping services available that can do all of this for you, and more. These services can be accessed online from any computer or mobile device and often include features such as bank reconciliation and invoicing. Check out the best accounting software for small business, or see if you want to handle the bookkeeping yourself.

Determine Your Break-Even Point

Before you fund your business, you must get an idea of your startup costs. To determine these, make a list of all the physical supplies you need, estimate the cost of any professional services you will require, determine the price of any licenses or permits required to operate and calculate the cost of office space or other real estate. Add in the costs of payroll and benefits, if applicable.

Businesses can take years to turn a profit, so it’s better to overestimate the startup costs and have too much money than too little. Many experts recommend having enough cash on hand to cover six months of operating expenses.

When you know how much you need to get started with your business, you need to know the point at which your business makes money. This figure is your break-even point.

In contrast, the contribution margin = total sales revenue – cost to make product

For example, let’s say you’re starting a small business that sells miniature birdhouses for fairy gardens. You have determined that it will cost you $500 in startup costs. Your variable costs are $0.40 per birdhouse produced, and you sell them for $1.50 each.

Let’s write these out so it’s easy to follow:

This means that you need to sell at least 456 units just to cover your costs. If you can sell more than 456 units in your first month, you will make a profit.

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There are many different ways to fund your business—some require considerable effort, while others are easier to obtain. Two categories of funding exist: internal and external.

Internal funding includes:

  • Personal savings
  • Credit cards
  • Funds from friends and family

If you finance the business with your own funds or with credit cards, you have to pay the debt on the credit cards and you’ve lost a chunk of your wealth if the business fails. By allowing your family members or friends to invest in your business, you are risking hard feelings and strained relationships if the company goes under. Business owners who want to minimize these risks may consider external funding.

External funding includes:

  • Small business loans
  • Small business grants
  • Angel investors
  • Venture capital
  • Crowdfunding

Small businesses may have to use a combination of several sources of capital. Consider how much money is needed, how long it will take before the company can repay it and how risk-tolerant you are. No matter which source you use, plan for profit. It’s far better to take home six figures than make seven figures and only keep $80,000 of it.

Funding ideas include:

  • Invoice factoring: With invoice factoring , you can sell your unpaid invoices to a third party at a discount.
  • Business lines of credit: Apply for a business line of credit , which is similar to a personal line of credit. The credit limit and interest rate will be based on your business’s revenue, credit score and financial history.
  • Equipment financing: If you need to purchase expensive equipment for your business, you can finance it with a loan or lease.
  • Small Business Administration (SBA) microloans: Microloans are up to $50,000 loans that can be used for working capital, inventory or supplies and machinery or equipment.
  • Grants: The federal government offers grants for businesses that promote innovation, export growth or are located in historically disadvantaged areas. You can also find grants through local and regional organizations.
  • Crowdfunding: With crowdfunding , you can raise money from a large group of people by soliciting donations or selling equity in your company.

Choose the right funding source for your business by considering the amount of money you need, the time frame for repayment and your tolerance for risk.

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You need to have insurance for your business , even if it’s a home-based business or you don’t have any employees. The type of insurance you need depends on your business model and what risks you face. You might need more than one type of policy, and you might need additional coverage as your business grows. In most states, workers’ compensation insurance is required by law if you have employees.

Work With an Agent To Get Insured

An insurance agent can help determine what coverages are appropriate for your business and find policies from insurers that offer the best rates. An independent insurance agent represents several different insurers, so they can shop around for the best rates and coverage options.

Basic Types of Business Insurance Coverage

  • Liability insurance protects your business against third-party claims of bodily injury, property damage and personal injury such as defamation or false advertising.
  • Property insurance covers the physical assets of your business, including your office space, equipment and inventory.
  • Business interruption insurance pays for the loss of income if your business is forced to close temporarily due to a covered event such as a natural disaster.
  • Product liability insurance protects against claims that your products caused bodily injury or property damage.
  • Employee practices liability insurance covers claims from employees alleging discrimination, sexual harassment or other wrongful termination.
  • Workers’ compensation insurance covers medical expenses and income replacement for employees who are injured on the job.
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Business tools can help make your life easier and make your business run more smoothly. The right tools can help you save time, automate tasks and make better decisions.

Consider the following tools in your arsenal:

  • Accounting software : Track your business income and expenses, prepare financial statements and file taxes. Examples include QuickBooks and FreshBooks.
  • Customer relationship management (CRM) software : This will help you manage your customer relationships, track sales and marketing data and automate tasks like customer service and follow-ups. Examples include Zoho CRM and
  • Project management software : Plan, execute and track projects. It can also be used to manage employee tasks and allocate resources. Examples include Airtable and ClickUp.
  • Credit card processor : This will allow you to accept credit card payments from customers. Examples include Stripe and PayPal.
  • Point of sale (POS) : A system that allows you to process customer payments. Some accounting software and CRM software have POS features built-in. Examples include Clover and Lightspeed.
  • Virtual private network (VPN) : Provides a secure, private connection between your computer and the internet. This is important for businesses that handle sensitive data. Examples include NordVPN and ExpressVPN.
  • Merchant services : When customers make a purchase, the money is deposited into your business account. You can also use merchant services to set up recurring billing or subscription payments. Examples include Square and Stripe.
  • Email hosting : This allows you to create a professional email address with your own domain name. Examples include G Suite and Microsoft Office 365.

Many business owners spend so much money creating their products that there isn’t a marketing budget by the time they’ve launched. Alternatively, they’ve spent so much time developing the product that marketing is an afterthought.

Create a Website

Even if you’re a brick-and-mortar business, a web presence is essential. Creating a website doesn’t take long, either—you can have one done in as little as a weekend. You can make a standard informational website or an e-commerce site where you sell products online. If you sell products or services offline, include a page on your site where customers can find your locations and hours. Other pages to add include an “About Us” page, product or service pages, frequently asked questions (FAQs), a blog and contact information.

Optimize Your Site for SEO

After getting a website or e-commerce store, focus on optimizing it for search engines (SEO). This way, when a potential customer searches for specific keywords for your products, the search engine can point them to your site. SEO is a long-term strategy, so don’t expect a ton of traffic from search engines initially—even if you’re using all the right keywords.

Create Relevant Content

Provide quality digital content on your site that makes it easy for customers to find the correct answers to their questions. Content marketing ideas include videos, customer testimonials, blog posts and demos. Consider content marketing one of the most critical tasks on your daily to-do list. This is used in conjunction with posting on social media.

Get Listed in Online Directories

Customers use online directories like Yelp, Google My Business and Facebook to find local businesses. Some city halls and chambers of commerce have business directories too. Include your business in as many relevant directories as possible. You can also create listings for your business on specific directories that focus on your industry.

Develop a Social Media Strategy

Your potential customers are using social media every day—you need to be there too. Post content that’s interesting and relevant to your audience. Use social media to drive traffic back to your website where customers can learn more about what you do and buy your products or services.

You don’t necessarily need to be on every social media platform available. However, you should have a presence on Facebook and Instagram because they offer e-commerce features that allow you to sell directly from your social media accounts. Both of these platforms have free ad training to help you market your business.

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To scale your business, you need to grow your customer base and revenue. This can be done by expanding your marketing efforts, improving your product or service, collaborating with other creators or adding new products or services that complement what you already offer.

Think about ways you can automate or outsource certain tasks so you can focus on scaling the business. For example, if social media marketing is taking up too much of your time, consider using a platform such as Hootsuite to help you manage your accounts more efficiently. You can also consider outsourcing the time-consumer completely.

You can also use technology to automate certain business processes, including accounting, email marketing and lead generation. Doing this will give you more time to focus on other aspects of your business.

When scaling your business, it’s important to keep an eye on your finances and make sure you’re still profitable. If you’re not making enough money to cover your costs, you need to either reduce your expenses or find ways to increase your revenue.

Build a Team

As your business grows, you’ll need to delegate tasks and put together a team of people who can help you run the day-to-day operations. This might include hiring additional staff, contractors or freelancers.

Resources for building a team include:

  • Hiring platforms: To find the right candidates, hiring platforms, such as Indeed and Glassdoor, can help you post job descriptions, screen résumés and conduct video interviews.
  • Job boards: Job boards such as Craigslist and Indeed allow you to post open positions for free.
  • Social media: You can also use social media platforms such as LinkedIn and Facebook to find potential employees.
  • Freelance platforms: Using Upwork, Freelancer and Fiverr can help you find talented freelancers for one-time or short-term projects. You can also outsource certain tasks, such as customer service, social media marketing or bookkeeping.

You might also consider partnering with other businesses in your industry. For example, if you’re a wedding planner, you could partner with a florist, photographer, catering company or venue. This way, you can offer your customers a one-stop shop for all their wedding needs. Another example is an e-commerce store that partners with a fulfillment center. This type of partnership can help you save money on shipping and storage costs, and it can also help you get your products to your customers faster.

To find potential partnerships, search for businesses in your industry that complement what you do. For example, if you’re a web designer, you could partner with a digital marketing agency.

You can also search for businesses that serve the same target market as you but offer different products or services. For example, if you sell women’s clothing, you could partner with a jewelry store or a hair salon.

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To rank the best states to start a business in 2024, Forbes Advisor analyzed 18 key metrics across five categories to determine which states are the best and worst to start a business in. Our ranking takes into consideration factors that impact businesses and their ability to succeed, such as business costs, business climate, economy, workforce and financial accessibility in each state. Check out the full report .

Starting a small business takes time, effort and perseverance. But if you’re willing to put in the work, it can be a great way to achieve your dreams and goals. Be sure to do your research, create a solid business plan and pivot along the way. Once you’re operational, don’t forget to stay focused and organized so you can continue to grow your business.

How do I start a small business with no money?

There are several funding sources for brand-new businesses and most require a business plan to secure it. These include the SBA , private grants, angel investors, crowdfunding and venture capital.

What is the best business structure?

The best business structure for your business will depend entirely on what kind of company you form, your industry and what you want to accomplish. But any successful business structure will be one that will help your company set realistic goals and follow through on set tasks.

Do I need a business credit card?

You don’t need one, but a business credit card can be helpful for new small businesses. It allows you to start building business credit, which can help you down the road when you need to take out a loan or line of credit. Additionally, business credit cards often come with rewards and perks that can save you money on business expenses.

Do I need a special license or permit to start a small business?

The answer to this question will depend on the type of business you want to start and where you’re located. Some businesses, such as restaurants, will require a special permit or license to operate. Others, such as home daycare providers, may need to register with the state.

How much does it cost to create a business?

The cost of starting a business will vary depending on the size and type of company you want to create. For example, a home-based business will be less expensive to start than a brick-and-mortar store. Additionally, the cost of starting a business will increase if you need to rent or buy commercial space, hire employees or purchase inventory. You could potentially get started for free by dropshipping or selling digital goods.

How do I get a loan for a new business?

The best way to get a loan for a new business is to approach banks or other financial institutions and provide them with a business plan and your financial history. You can also look into government-backed loans, such as those offered by the SBA. Startups may also be able to get loans from alternative lenders, including online platforms such as Kiva.

Do I need a business degree to start a business?

No, you don’t need a business degree to start a business. However, acquiring a degree in business or a related field can provide you with the understanding and ability to run an effective company. Additionally, you may want to consider taking some business courses if you don’t have a degree to learn more about starting and running a business. You can find these online and at your local Small Business Administration office.

What are some easy businesses to start?

One of the easiest businesses to start also has the lowest overhead: selling digital goods. This can include items such as e-books, online courses, audio files or software. If you have expertise in a particular area or niche, this is a great option for you. Dropshipping is also a great option because you don’t have to keep inventory. You could also buy wholesale products or create your own. Once you create your product, you can sell it through your own website or third-party platforms such as Amazon or Etsy.

What is the most profitable type of business?

There is no one answer to this question because the most profitable type of business will vary depending on a number of factors, such as your industry, location, target market and business model. However, some businesses tend to be more profitable than others, such as luxury goods, high-end services, business-to-business companies and subscription-based businesses. If you’re not sure what type of business to start, consider your strengths and interests, as well as the needs of your target market, to help you choose a profitable business idea.

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When care comes home

If your physician decides that home health care is right for you, after an injury or illness, NHC Home Care is here for you. Our experienced team of nurses and therapists are dedicated to provide our patients with the knowledge, skills and care they need to recover, take charge of their own health and be able to remain safely at home.

Most people who require these services are recovering from an illness, injury, surgery or are living with chronic medical conditions with acute changes requiring frequent changes in medication or other treatment. Nurses are available on-call to patients 24 hours a day, 7 days a week.

Home Health Care Services, provided by Registered Nurses and Licensed Practical Nurses, include:

  • Patient assessment
  • Medication monitoring
  • Intravenous infusions
  • Ostomy care
  • Catheter care
  • Pain management
  • Palliative care
  • Patient Education
  • Care giver education

Physical Therapy, Occupational Therapy, Speech Therapy

  • Home exercise program
  • Therapeutic exercises
  • Fall prevention programs
  • Strengthening and balance exercises
  • Post-surgical care to improve mobility
  • Heart and Lung deficit exercises

Home Care is available, with a physician’s order, to patients who meet the qualifying criteria of the following payers:

  • Medicare / Medicaid
  • Managed Care
  • Private Insurance

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Home Health Care Services Business Plan

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Wheatland Health Services

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">, opportunity.

There is a significant need for quality home health care and social services within this region and we believe that by employing competent and well-educated staff and providing them with organized and responsive management, we can become the home health care/social service agency of choice in Southeastern Kansas.

Wheatland Health Services offers a unique combination of premier home health care and community-based social services to Southeastern Kansas.

The consumer base for Wheatland Health Services (Home Health Care Services) will be patients referred by physicians, health care facilities and other health care professionals. The majority of these patients will be covered by Medicare with a smaller portion being insured by Kansas Medicaid or other private insurance carriers.


The key factor considered by both consumers and referring professionals when purchasing home health care is trust in the professional reputation, reliability and quality of services provided by the home health Agency.

Wheatland Health Services strives to offer excellent and affordable home health care and community-based social services to individuals and families of Southeastern Kansas.


We are projecting growth and total annual sales very conservatively, with high projected expenses. Our cost of sales is relatively low, as this is a service agency and the primary costs involved in providing the services are those related to payroll. The costs of sales reflects the cost of mileage reimbursement to employees, because the services we provide are home- and community-based and require travel to and from service locations.

Financial Highlights by Year

Financing needed.

We will use $70,000: $50,000 five year loan and $20,000 cash from Elizabeth Patzer

Problem & Solution

Problem worth solving, our solution.

It is our goal to employ competent, caring, and well-trained individuals who are responsive to the needs of our patients, their families, and the communities we serve. Each staff member will meet the State of Kansas educational and training requirements for the services they provide. We encourage and support continued education of each service provider. In turn, our agency will provide staff with competitive compensation, an inviting work environment, and knowledgeable, trustworthy management and direction.

Target Market

Market size & segments.

Market Segments 

The population base in Southeastern Kansas is aging, and more individuals are opting to stay in their own homes longer and return home following hospitalization, rather than proceeding to a nursing home. Our primary market segment includes those patients — typically in an older age bracket — who require health care services by home health nursing staff. These patients may also require other home health services, such as social work, in order to access needed community resources.

Our secondary market will be those individuals who have suffered a personal injury and require case management services to assist them in addressing medical, financial, and employment issues.

Target Market 

Because our agency specializes in home health care and community-based social services, we will focus on those market segments where we know our services are most needed. Focusing on those market segments that require only home-based services will greatly decrease overhead, since additional office space will not be required.

Current Alternatives

Pricing of home health services does not usually influence consumers’ choices, as most home health services are reimbursed by Medicare, Medicaid, and private insurance companies, and reimbursement rates are set by those entities. Pricing of personal injury case management services is a more important factor, as these services are paid for as negotiated on a case-by-case basis at an hourly rate. When pricing personal injury case management services, we will explain to the client that we estimate the total number of hours needed to complete services liberally, rather than bidding low and then exceeding the anticipated total bid price for services.

Consumers of both home health care services and personal injury case management services rarely compare service providers directly. Usually they follow word-of-mouth recommendations, especially when those recommendations come from their physicians.

Perhaps the most important element for assessing competition in the Home Health and Social Service fields is how to persuade other professionals to repeatedly refer their clients to our agency for services. As our agency demonstrates outstanding patient care, current and pertinent qualification of service providers, and professional organization and business management, we believe that we will be able to capture the majority of the home health care and personal injury case management market in our designated region.

Our Advantages

We start with a competitive edge:  There are currently only three home health care agencies serving southeastern Kansas; Kellene Walker, our Clinical Director, has been employed with one of them for three years and has learned many of the day-to-day administrative functions that make a home health care agency successful. Ms. Walker has built a reputation for outstanding customer service, and it is our belief that her reputation will help to build a strong client base even before our start-up date.

Wheatland Health Services will also stand out in integrating community-based social services, such as Personal Injury Case Management, with our more traditional home health care. This broader base will allow us to access additional clientele and payor bases, adding to our financial stability. This integration also leaves room in the long-term for the addition of other social services, such as Family Counseling, Psycho-Educational Services, and Mental Health Case Management.

Keys to Success

Our keys to success: 

  • Professional quality of services offered
  • Reliability — being available through on-call, and adequate staffing
  • Effective collaboration with other community professionals (physicians, hospitals, and other organizations)

Marketing & Sales

Marketing plan.

Marketing our service-oriented business requires establishing a reputation for expertise and excellence. It starts with our known contacts who are in positions to recommend us and make referrals to us, and continues with long-term efforts to develop recognition among other professionals within the health care and social service fields.

We will develop and maintain a database of our contacts in the field. Ms. Walker is already well-known to physicians, other nurses and hospital facilities in our market area, and will work to maintain those relationships throughout our start-up process. Ms. Patzer will make initial contacts in the community as she establishes the business entity and provider status with Medicare, Medicaid, private insurance companies and local attorneys. She will then join Ms. Walker in an effort to introduce Wheatland Health Services to area professionals who are potential referral sources. Our communications will be professional, as will our marketing tools such as brochures, business cards, and advertisements.

Pro Tip:

In a service industry, growth can mean loss of quality control, which in turn leads to client dissatisfaction. The services we provide should always reflect the mission and oversight of management. We want our clients to know that the quality of service they receive will be excellent, regardless of the individual service provider performing the service.

We will therefore avoid the temptation to broaden the scope of our services too quickly. Rather, we will focus our immediate attentions on making the services we offer of the highest possible quality. Only when those services are well-established and grounded in excellence will we consider expanding our service base.

Milestones & Metrics

Milestones table.

$500 for the first month
40 cents per birdhouse
$500/($1.50 - 40 cents)
Milestone Due Date
Mar 06, 2020
Apr 10, 2020
July 11, 2020
Aug 01, 2020
Sept 01, 2020
Sept 12, 2020
Oct 03, 2020
Nov 01, 2020
Nov 21, 2020
Nov 29, 2020
Jan 09, 2021
Apr 24, 2021
June 05, 2021

Key Metrics

Our key metrics are: 

  • 125 Home Health Care patients served by the end of first year.
  • 12 Personal Injury Case Management Clients served by the end of first year.
  • Respectable gross sales by the end of first year.
  • 80% of Customer Satisfaction Surveys returned indicating satisfaction with services.
  • # of facebook page views and website links 

Ownership & Structure

Wheatland Health Services is a limited liability company owned and operated by Elizabeth G. Patzer, MSW/MPA and Marlon B. Patzer, M.S./M.Ed.

Management Team

Wheatland Health Services’ initial team will consist of one Administrative Director, one Clinical Director, three employees and a contracted agency to fulfill the need for Physical Therapists,  Occupational Therapists, and Speech Therapists. Initially, both managers will also provide direct service. Elizabeth Patzer is a licensed social worker and will provide all social work services during the start-up stage of the business. She will also provide all administrative direction and will perform most of the administrative functions with assistance from an Administrative Assistant. Kellene Walker is a registered nurse and has experience as a Skilled Nurse and Director of Nursing for a Home Health Agency. She will also provide direct nursing services during the initial stages of the business, as well as supervising the nursing staff. As the need for service providers grows, both managers will assume primary roles in management and will delegate direct service to employees.

Wheatland Health Services has no current management or personnel gaps; our plan provides for hiring service providers only as growth demands. Job descriptions have been written for each position and we will develop an employee handbook prior to our Start Date. 

Personnel Table

2020 2021 2022
Clinical Director $57,600 $58,752 $59,927
Admin Assistant $24,000 $24,480 $24,970
Skilled Nurse (0.94) $40,000 $42,000 $44,000
Nurses Aide $33,600 $34,272 $34,957
Social Services $30,000 $30,600 $31,212
Totals $185,200 $190,104 $195,066

Financial Plan investor-ready personnel plan .">

Key assumptions.

The General Assumptions table, below, shows our important (and conservative) annual assumptions concerning interest rates, tax rates, and personnel burden. In addition:

  • We assume a strong economy, without major recession.
  • We assume, of course, that there are no significant unforeseen changes in the federal policy that dictates Medicare and Medicaid reimbursement of Home Health Care Services.

Revenue by Month

Expenses by month, net profit (or loss) by year, use of funds.

Startup Expenses: 

Attorney Fees – Setting Up Limited Liability Company $875

State of Kansas Home Health Agency License $100

Medisoft Billing Program plus Support $5,000

Professional Liability Insurance $3,000 (Assuming 25% down of $12,000.00)

Workman’s Comp Insurance Deposit $500

Premises and Content Insurance Deposit $300 (Assuming 25% down of $1,200.00)

Contract Retainer with PT/OT/ST $500

Office Upgrades (Carpet and Paint) $3,000

Deposit plus First $400

Phone Set Up (Excluding Phones) $250

Utilities Deposit $150

Post Office Box $26


2 Computers (Fully Loaded) $3,000

4-in-1 Printer/Fax/Copier/Scanner $750

QuickBooks Pro $300

Phones $200


Stationary $200

Business Cards $150

Brochures $200

Other Misc. Office Supplies $450



Sources of Funds

$20,000 investment from Elizabeth Patzer and a 5-year $50,000 loan, total of $70,000. 

Projected Profit & Loss`

2020 2021 2022
Revenue $451,000 $465,000 $504,000
Direct Costs $148,830 $153,450 $166,320
Gross Margin $302,170 $311,550 $337,680
Gross Margin % 67% 67% 67%
Operating Expenses
Salaries & Wages $185,200 $190,104 $195,066
Employee Related Expenses $37,040 $38,021 $39,013
Startup Expenses – Listed in Use of Funds $21,900
Rent $2,400 $2,400 $2,400
Heat and Lights $1,800 $1,800 $1,800
Phone $3,000 $3,000 $3,000
Cell phone $1,800 $1,800 $1,800
Water and Garbage $600 $600 $600
Internet Expense $300 $300 $300
Professional Liability Insurance $9,000 $9,000 $9,000
Workman’s Comp $600 $600 $600
Premises and Content $600 $600 $600
Advertising and Marketing $1,200 $1,200 $1,200
Meals and Entertainment $600 $600 $600
Professional Develolpment $1,200 $1,200 $1,200
Office Equipment and Supplies $4,800 $4,800 $4,800
Contracted Therapists $19,560 $19,560 $19,560
Nursing Supplies $12,000 $12,000 $12,000
Total Operating Expenses $303,600 $287,585 $293,539
Operating Income ($1,430) $23,965 $44,141
Interest Incurred $3,412 $3,051 $2,295
Depreciation and Amortization
Gain or Loss from Sale of Assets
Income Taxes $0 $0 $0
Total Expenses $455,842 $444,086 $462,154
Net Profit ($4,842) $20,914 $41,846
Net Profit/Sales (1%) 4% 8%

Projected Balance Sheet

2020 2021 2022
Cash $28,181 $47,645 $77,497
Accounts Receivable $45,450 $34,875 $37,800
Other Current Assets
Total Current Assets $73,631 $82,520 $115,297
Long-Term Assets
Accumulated Depreciation
Total Long-Term Assets
Total Assets $73,631 $82,520 $115,297
Accounts Payable $16,215 $13,307 $14,111
Income Taxes Payable $0 $0 $0
Sales Taxes Payable $0 $0 $0
Short-Term Debt $9,117 $9,874 $10,693
Prepaid Revenue
Total Current Liabilities $25,332 $23,180 $24,804
Long-Term Debt $33,141 $23,268 $12,575
Long-Term Liabilities $33,141 $23,268 $12,575
Total Liabilities $58,473 $46,448 $37,379
Paid-In Capital $20,000 $20,000 $20,000
Retained Earnings ($4,842) $16,072
Earnings ($4,842) $20,914 $41,846
Total Owner’s Equity $15,158 $36,072 $77,918
Total Liabilities & Equity $73,631 $82,520 $115,297

Projected Cash Flow Statement

2020 2021 2022
Net Cash Flow from Operations
Net Profit ($4,842) $20,914 $41,846
Depreciation & Amortization
Change in Accounts Receivable ($45,450) $10,575 ($2,925)
Change in Inventory
Change in Accounts Payable $16,215 ($2,908) $804
Change in Income Tax Payable $0 $0 $0
Change in Sales Tax Payable $0 $0 $0
Change in Prepaid Revenue
Net Cash Flow from Operations ($34,077) $28,581 $39,726
Investing & Financing
Assets Purchased or Sold
Net Cash from Investing
Investments Received $20,000
Dividends & Distributions
Change in Short-Term Debt $9,117 $757 $819
Change in Long-Term Debt $33,141 ($9,874) ($10,693)
Net Cash from Financing $62,258 ($9,117) ($9,874)
Cash at Beginning of Period $0 $28,181 $47,645
Net Change in Cash $28,181 $19,464 $29,852
Cash at End of Period $28,181 $47,645 $77,497

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home healthcare agency business plan

  • Best for customer satisfaction
  • Best for older adults
  • Best for long-term care
  • Best for high returns
  • Best for agent support
  • Best for term life
  • Why you should trust us

Best Life Insurance of June 2024

Affiliate links for the products on this page are from partners that compensate us (see our advertiser disclosure with our list of partners for more details). However, our opinions are our own. See how we rate insurance products to write unbiased product reviews.

Life insurance is as complicated as the policyholders and beneficiaries who use it. That means there's no single "best" life insurance company. Instead, you can find the best option based on what you want or what you prioritize.

Summary of the Best Life Insurance Companies

  • Best for customer satisfaction:   State Farm Life Insurance
  • Best for older adults:   Prudential Life Insurance
  • Best for agent support:   New York Life Insurance
  • Best for long-term care:   Columbus Life
  • Best for high returns:   Allianz Life
  • Best for term life:   North American Company

Best Life Insurance Companies of 2024

While there is no such thing as the objective best life insurance policy, you will be able to find the best insurance policy for your specific needs. Here are our picks for the best life insurance companies, whether you want to use your life insurance policy to build wealth through cash value or you're just looking for a term life insurance policy .

Best Life Insurance for Customer Satisfaction: State Farm Life Insurance

State Farm State Farm Life Insurance

Bundling is standard, and agents often quote with multiple discounts.

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Best in JD Power customer service ratings
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a range of different insurance products to meet buyer needs
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Agents are knowledgeable about its products
  • con icon Two crossed lines that form an 'X'. Life insurance products are conservative and limited
  • con icon Two crossed lines that form an 'X'. Buyers may be subject to multi-year waiting periods before they qualify for full payouts on life insurance policies
  • con icon Two crossed lines that form an 'X'. State Farm agents cannot offer alternative options if State Farm is unable to bind a life insurance policy

State Farm is one of the insurance industry's most prominent insurers offering auto, home, and other insurance. Bundling is standard, and agents often quote with multiple discounts. Its term, universal, and whole life insurance products are no exception.

  • Life insurance products include term and permanent life
  • Ranks highly for customer satisfaction

State Farm Life Insurance gets the best life insurance ranking in J.D Power's Individual Life Insurance Study, with a score of 843/1,000. The company is also ranked A++ with AM Best for its financial stability with term, universal, and whole life insurance options. 

All State Farm policies have to be purchased through a State Farm agent. Your agent can help you bundle and save or buy one policy. State Farm is also among the companies offering "survivorship universal life insurance ," which means the policy covers two people, and it kicks in after the second person dies. Couples looking to maximize their death benefit for beneficiaries with one premium payment each month may enjoy lower overall costs.

State Farm agents can run quotes and compare options to find the right plans for each applicant. The range of options, discounts, and familiar name all contribute to the popularity of State Farm's life insurance.

Read our State Farm Life Insurance review here.

Best Life Insurance for Older Adults: Prudential VUL Protector Life Insurance

Prudential Prudential Life Insurance

Offers aggressive financial plans.

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Available in all 50 states (New York residents may have different plans)
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can withdraw money to pay for nursing home bills due to severe illness or disability
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable agents who can walk you through your options
  • con icon Two crossed lines that form an 'X'. Financial returns are limited
  • con icon Two crossed lines that form an 'X'. Limited policy options for seniors and other groups who might struggle to find life insurance

The aggressive financial plans offered by Prudential may appeal to many younger buyers and those with a stable income. However, those with lower income or buyers who aren't sure about the financial system may be more hesitant to engage with Prudential. Like many other industry giants, Prudential is working to change this perception.

Prudential Life Insurance is available in all states except New York. New York residents can buy the Pruco Life of New Jersey VUL Protector plan. This plan allows buyers to pull money out of their plan to pay for nursing home expenses. Cash value policy premiums are fixed, so you won't have to worry about extra costs later on. Internal costs are low, which minimizes risk. Due to age, many older adults want a safe investment option for their money. Prudential VUL Protector invests to avoid loss. That also means you're not as likely to see big increases in your available funds outside of what you deposit.

Read our Prudential Life Insurance review here.

Best Life Insurance for Long-Term Care: Columbus Life Insurance

Columbus Columbus Life

Offers lien method to makes it easier to calculate the financial impact of pulling money out early.

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Buyers can pull money out for medical and other bills in the event of disease or disability
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Columbus uses lien method to simplify accelerated death payments
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Company offers a wide range of riders to customize policies
  • con icon Two crossed lines that form an 'X'. Premiums may be higher than competitors
  • con icon Two crossed lines that form an 'X'. Term policies are not guaranteed to be converted to whole

Best for long-term care and accelerated death benefits.

Columbus Life offers a wide range of riders to customize your policy with affordable premiums. The company also allows you to convert term policies to whole life insurance policies until the end of your term (generally around age 70). For this and many other reasons, customer satisfaction is high.

When using living health benefits (otherwise known as accelerated death benefits), buyers are allowed to pull money from policies early to pay for medical bills, living costs, etc. under certain circumstances. Most companies use a discounted death benefit, which reduces your final payout using two models. Columbus uses the lien method, which makes it easier to calculate the financial impact of pulling money out early.

Best Life Insurance for High Returns on Income: Allianz Life Insurance

Allianz Allianz Life

Offers life insurance policies for foreign nationals with H-1B visas.

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Plans offer high returns on investment
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Great for investment and long-term retirement planning
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. May increase your income by as much as 20%
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Allianz offers plans for foreign nationals including H-1B visas
  • con icon Two crossed lines that form an 'X'. Plans are meant specifically for high-income adults, alternatives may not be offered

Best for investing and high returns on income.

Allianz Life plans are geared towards high-income adults looking for more tax-free income. Allianz offers a 40% multiplier bonus with a 1% annual assets charge. In short, the professionals managing your investments take 10%. Overall, your investments would pull in an extra 14%-1% asset charge. This means you end up with 3% more than what you deposit every year your life policy is active. This plan offers strong returns when using a life policy to supplement your retirement savings. Allianz also offers specialized plans to grow your income by as much as 20% according to some estimates.

Of note: Allianz also offers plans for foreign nationals, including those with H-1B visas.

Best Life Insurance for Agent Support: New York Life Insurance

New York Life New York Life Insurance

Offers aggressive financial products and extensively trained agents.

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Strong life insurance options for financial planning and wealth building
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Policies available nationwide
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Knowledgeable life insurance agents
  • con icon Two crossed lines that form an 'X'. May require a medical exam
  • con icon Two crossed lines that form an 'X'. Buyers looking for more modest policies may not find the most competitive pricing

If you're preparing for a comfortable retirement or looking to build generational wealth, New York Life is one of the strongest options. If you have questions or genuinely want to understand your life insurance options, New York Life agents are among the most qualified professionals in the business.

  • Life insurance provider with policies available across the US

New York Life Insurance agents go through extensive training before they ever hit the sales floor. What does this get you? Policies vary widely, and New York Life offers both large and small payouts. Some policies have significant penalties for early withdrawal, but taking a loan offers more options. Whatever your questions, New York Life agents are trained to offer comprehensive support giving you accurate information about its policies every time. The company comes in at position eight in J.D. Power's latest life insurance customer satisfaction study.

Read our New York Life Insurance review here.

Best Life Insurance for Term Life: North American Life Insurance

Sammons Financial North American Company

Offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more.

  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers accelerated death benefits for critical, chronic, and terminal illnesses
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Offers conversion for life policies up to 70 years old
  • Check mark icon A check mark. It indicates a confirmation of your intended interaction. Term policies can be renewed up to age 95 for qualifying applicants
  • con icon Two crossed lines that form an 'X'. Not all term policies qualify for renewal or conversion

Best Term Policy.

North American Company offers term policies alongside accelerated death benefits for critical, chronic, and terminal illnesses and more. The company allows one conversion on a 20-year policy at 15 years or 70 years old (whichever is earlier). The conversion cannot happen later than the five-year marker regardless of which policy you choose or the length. North American Company also offers a term policy with a lower premium renewable up to the age of 95 for qualifying insureds.

Types of Life Insurance

While there's many different types of life insurance policies , broadly speaking, there are two types of life insurance: temporary and permanent. Let's go over each in detail.

Temporary life insurance

Temporary life insurance is often called term life insurance. This type of policy covers you for a set amount of time before expiring, usually between 10-30 years. If you pass away after your policy expires, your family won't receive any benefits. Additionally, your policy won't accrue cash value like a permanent policy. That said, some term life insurance policies offer a conversion from term to whole life insurance, so you can extend your coverage. 

Because its benefits aren't guaranteed, term life policies are generally cheaper than permanent life insurance. That said, the vast majority of term life insurance policies never pay out. on

Permanent life insurance

Permanent life insurance is an umbrella term for a variety of life insurance policies that will insure you indefinitely and guarantee a payout as long as you maintain your policy. Policy types that fall under permanent life insurance includes:

  • Whole life insurance
  • Universal life insurance
  • Variable life insurance
  • Variable universal life insurance
  • Simplified life insurance
  • Guaranteed issue life insurance

These policies vary widely in purpose and intended buyers, but all guarantee death benefits to your loved ones. Some permanent life insurance policies, like whole, universal, and variable have a cash value component , which you can use as a savings tool or to leave your heirs a larger death benefit.

How to Pick the Best Life Insurance Policy for You

Finding the right fit in life insurance starts with finding a trusted insurance agent. Because there are so many state regulations, shopping for homeowners or auto insurance can be easily done online. Life insurance is not required. So it's a voluntary purchase. Many buyers don't know what they need or when they need it. Before making your selection, consider a few things:

Some companies will sell you a policy for your child as soon as they're born. While this may seem morbid, early sign-up means lower rates for a policy your child could enjoy in the future. Regardless, early sign-up equates to more policy for lower premiums and a higher likelihood of acceptance. At 20, you may be healthier and be able to pay into the policy for a longer period compared to when you're 50 with more age-related conditions.

As a general rule, never agree to more than you can afford. For the average life insurance agent, their job is to sell you a large policy with a large commission. Consider not only how much you make now, but how likely your current income is to continue. If you work on a project basis and your project is scheduled to end in 12 months, you may want to reconsider a policy premium outside your monthly savings.

How much are you prepared to buy? Some people only want a small policy to cover funerals and other end-of-life expenses. Others build a life policy into their retirement plan. Whatever direction you're going, involving a financial planner could help you make the right decisions. Depending on the carrier, customers can also compare set limits with index universal life policies, which set no limit. These policies never expire, and the value builds over the entirety of your life.

Living Benefits

Life happens unexpectedly. You could be healthy one day and in the hospital the next. Many life policies offer living benefits. These allow you to draw a limited amount out of your policy to cover medical and other bills you cannot pay while sick.

Much like a 401(k), many life insurance policies have penalties for early withdrawal. No matter what policy you want, this question is critical to an informed decision. It's a question of how early you can withdraw and how much you'll lose from the total to have the money in 10 years instead of 30 or after death.

Some policies require insured parties to pay premiums for at least one year before any significant payout would be available. Suicide exclusions are common. Even with no medical exam policies, the company may still do a check for known conditions. An insurance company has to mitigate its risk.


Once you've been denied a life insurance policy, a mark goes on your record. No matter the reasons, other insurance companies may deny you coverage based on the first denial. So consider your whole situation and choose your policy carefully before you submit any applications. Some policies have greater flexibility if you lose your job or otherwise can't make payments. Others will lapse if you miss even one payment.

Payment Type

Even within whole life or term life insurance policies, customers have the option to choose guaranteed fixed or variable rates. Some have guaranteed payouts, but you'll need to ask your agent for details.

What is your intended use? Why are you shopping for a life insurance policy in the first place, and what are your goals? Many successful financial planners also have a background in life insurance. So while they may not be able to find you a specific life insurance policy, financial planners can help you set out a blueprint for your purchase.

Why You Should Trust Us: How We Reviewed the Best Life Insurance Companies

In life insurance, it's easy to get "sold a bill of goods." Many life insurance agents pass a state test to be thrown into the deep end. Agents sell the company product, but not all know the products. In this vein, we look at the products each company offers. We also look at agent training.

A good life insurance agent may not volunteer all facts upfront. But a company's agents should answer questions about its products accurately and in a way the average consumer can digest. Agents should be able to inform you about the long-term benefits and limitations. This will help customers find the right policy for their long-term plan.

We consider affordability, policy sizes available, and performance for a comprehensive assessment in our insurance rating methodology . If you can, we recommend also working with a financial advisor to make a plan for your future with life insurance.

Our Expert Panel for The Best Life Insurance Companies

To inform our choices for the best life insurance companies, we spoke with the following experts:

  • Paul LaPiana , head of product at MassMutual
  • Barbara Pietrangelo , CFP, CLU, and chair of the nonprofit Life Happens
  • Wykeeta Peel , Corporate Vice President and Market Manager, African American Market Unit at New York Life

The Experts' Advice on Choosing The Best Life Insurance for You

How much life insurance coverage do you believe the average buyer should have.

Paul LaPiana, Head of Product at MassMutual

"There are different approaches to determining how much life insurance you need. One is the 'human life' approach, which estimates the current value of your future earning potential. Another is securing specific coverage to pay off debts such as a mortgage or provide for the education of children. A comprehensive protection plan should provide the right amount of coverage over the course of your working life and into retirement."

Barbara A. Pietrangelo, Chair of Life Happens

"There is no one-size-fits-all life insurance policy because everyone is different. One way to get a rough estimate is to multiply your income by 10 to 15; another is adding $100,00 to that amount, should you have a child and anticipate college education expenses.

Your best bet is to talk to a financial professional or use the Life Insurance Needs Calculator on to analyze what's right for you."

Wykeeta Peel, Corporate Vice President & Market Manager African American Market Unit at New York Life

"As you consider what policy best meets your needs, it can help to answer four key questions: First, how much death benefit do you need? Second, how long will you need that coverage? Third, what is your budget (or how much monthly premium can you afford to pay?), and finally, what is your investment risk tolerance?

To determine how much death benefit makes sense, it's helpful to think beyond using life insurance to cover funeral expenses and consider whether anyone is relying on the policy owner's income to maintain a lifestyle, pay rent or a mortgage, or fund a child's education and for how long.

There are various rules of thumb regarding the right amount of Life insurance coverage. Some tips can be found online, but they only provide an estimate and don't necessarily factor in an individual's specific needs. In my opinion, human guidance, powered by technology, is required. Basically, it comes down to how much money your loved ones would need to remain on firm financial ground if your earnings were no longer in the picture and that is different for everyone."

What is the biggest opportunity you see for improvement in the life insurance industry?

"Increased accessibility through digital and other channels as well as through underwriting enhancements. Increased tailoring of products and features. And an increased emphasis on health and wellness programs."

"Having enough qualified insurance professionals to walk potential buyers through the multiple benefits of life insurance will be pivotal to the growth of the industry. Education is a key factor here, as professional agents also need to be able to explain life insurance and its benefits in an easy, digestible way, especially when there are so many misconceptions about life insurance."

"The need for life insurance is greater than ever. In fact, a recent New York Life Wealth Watch survey found that 37% of adults have been thinking about life insurance more often these days – and half of adults report that financial products that provide protection (50%) and reliability (50%) are more important now compared to last year. This may be especially true for middle-market and Cultural Market families.

Our organizational structure of having Cultural Market agents embedded in the communities where we live and work allows us to understand the needs of diverse communities and develop solutions that resonate with them."

What advice would you give to buyers who are debating whether or not to buy life insurance?

"It is difficult to say with any certainty how healthy you will be years from now. That's why securing life insurance, and insuring your insurability, today, when you are the youngest you'll ever be again, and perhaps your healthiest is a wise decision."

"Do you love someone? If the answer is yes, then life insurance is certainly something you should consider. Many buy gifts and experiences to express their love, but haven't considered that life insurance is just another way to say I love you. Nothing says support like ensuring your family's financial security and peace of mind."

"If you have someone depending on your income, you should consider purchasing life insurance. A death benefit from a life insurance policy can replace income from the loss of a breadwinner, ensure a family can stay in their home, fund educational or retirement expenses, address debt and so much more.

A life insurance policy can also help you grow your family's wealth over time. Once the risk of an unexpected loss has been managed, you can begin to think more broadly about your family's financial future. Life insurance can enable your mindset to shift from death to growth."

What's the most important thing buyers should look for when choosing a life insurance agent/company to buy from?

"With life insurance, you are securing a future commitment that may be decades away. Research the company behind the policy to ensure it has high financial strength ratings, longevity, and an excellent track record of paying claims."

"When looking for an insurance agent or company, be sure to do your research. When comparing companies, be sure to remember that the policy features that fit you and your loved ones best is the most important factor. Don't automatically assume you should buy from the higher-rated company.

If the policy from the other company has more of what you're looking for, it might be the better choice. If you're unsure where to start, try the Life Happens Agent Locator to find an insurance professional in your area."

  • "The insurers' track record: At its core, life insurance is protection - a hedge against the unexpected - and you are paying premiums in exchange for the promise that the insurer will be there when you need them, so the financial strength and track record of the company backing your policy is critical.
  • Customer service: Are service professionals available by phone and digital channels? Is there is an online dashboard where you can manage your policy? Beyond ensuring assistance is available after you purchase a policy, it's also critical to ensure you have access to trusted advice and guidance before you buy.
  • Flexibility in conversion: How easy is it to change? Life can be unpredictable and while term insurance can cover your loved ones through a critical period of time, you may decide that access to cash value is an important piece of your strategy.
  • Accelerated online applications : Online applications are convenient but don't replace human guidance. Keep in mind that accelerated online applications may have a maximum coverage amount, meaning that you may not be able to get all the coverage you may need exclusively through an online process.
  • A range of payment options: It's important to understand how often you're required to make premium payments and whether and how often you can change the frequency of payments."

Best Life Insurance FAQs

According to JD Power's 2023 life insurance study, State Farm is the highest-rated life insurance company when it comes to overall customer satisfaction. However, you still may want to shop around for quotes from various insurers if you're looking to purchase a new policy.

There isn't one best life insurance company, because the best option for you will depend on the type of policy you're looking for. It's best to work with a qualified insurance agent to help you find the best coverage. If you're deciding between multiple similar options, it's also worth consulting J.D. Power's life insurance customer satisfaction study . The latest study ranks State Farm as the top pick for individual life insurance, outpacing Nationwide by three points.

The best type of life insurance policy for you will differ from someone else's, as your policy should be tailored to your needs. The best policy for you will be affordable and will offer the benefits best suited to your situation. For example, some policies are only meant to cover end-of-life expenses such as burial and funeral arrangements, whereas others include living benefits like a cash value insurance plan , which you can borrow against during your lifetime.

Some life insurance policies are advertised as "no medical exam." This doesn't mean the insurer won't ask you about known conditions or look at medical records. Policies with no medical exam also tend to offer lower benefits with higher premiums. Most companies have a network of medical examiners, some of whom can come to your home. You can find our guide on the best no exam life insurance here.

Each situation is different and requires a knowledgeable life insurance agent to assess your best options. Bring all your questions and the coverage you're looking for to an insurance agent near you to explore your options.

Editorial Note: Any opinions, analyses, reviews, or recommendations expressed in this article are the author’s alone, and have not been reviewed, approved, or otherwise endorsed by any card issuer. Read our editorial standards .

Please note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed, or may no longer be available.

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home healthcare agency business plan

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  1. Home Health Care Business Plan Template Sample Pages

    home healthcare agency business plan

  2. What’s in our HOME HEALTH CARE AGENCY Business Plan Template by Paul

    home healthcare agency business plan

  3. Free business plan for home care agency in 2021

    home healthcare agency business plan

  4. Home Health Care Business Plan Template

    home healthcare agency business plan

  5. Home Health Care Business Plan Sample Pages

    home healthcare agency business plan

  6. 12 Steps to Start a Successful Home Health Care Business

    home healthcare agency business plan


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  5. Your Premier Choice in Home Healthcare



  1. PDF Home Healthcare Agency Business Plan

    The Home Healthcare Agency, Inc. ("the Company") is a New York based corporation that will provide both non-medical and skilled care services to this market. The Founder, John Doe, anticipates that the business will launch revenue generating operations in the fourth quarter of 2021. 1.1 The Services.

  2. Home Health Care Business Plan Template (2024)

    Industry Analysis. According to Grand View Research, the global home health care industry was valued at $336 billion USD in 2021. It is also expected to grow at a compound annual growth rate of 7.93% from 2022 to 2030 and reach a value of $666.9 billion USD by 2030.

  3. Home Care Business Plan PDF Example

    The Plan. Our Home Care business plan is designed to address all vital elements necessary for a detailed and effective operational strategy. This plan encompasses the scope of our home care services, marketing approaches, the environment in which we operate, an analysis of our competitors, the structure of our management team, and financial ...

  4. Write A Home Health Care Agency Business Plan + Template

    A home health care agency business plan is a formal written document that describes your company's business strategy and its feasibility. It documents the reasons you will be successful, your areas of competitive advantage, and it includes information about your team members. Your business plan is a key document that will convince investors ...

  5. How to Write a Home Health Care Business Plan

    But you don't want them to get bored with an overly lengthy statement. You can always go into greater detail about your services in the products and services section of your business plan. 2. Be specific about your service offering. As a home health care business, you will likely provide a variety of services.

  6. How to Start a Home Health Agency in 2024

    Executive Summary: A brief summary outlining the core elements of the home health agency business plan, including its mission, key objectives, and potential for success. Business Overview: A concise description of the home health agency, detailing its mission, vision, values, and the problem it aims to solve in the healthcare sector.

  7. Home Health Care Business Plan Template

    Traditionally, a marketing plan includes the four P's: Product, Price, Place, and Promotion. For a home health care business plan, your marketing plan should include the following: Product: In the product section, you should reiterate the type of home health care business that you documented in your Company Analysis.

  8. How to Start a Home Healthcare Business

    Step 1: Formulate your business plan. Home health care is unique in many ways, but the one thing it has in common with every other new business venture is that a lack of adequate planning and forecasting is a sure way to undercut its potential success. ... The other option is to contract the work out to another agency or association of ...

  9. Free Home Health Care Business Plan Example

    Insurance Companies. Establish relationships with insurance providers to offer our services as a covered benefit, making home health care more accessible and affordable for clients. Download This Plan. Download a free home health care sample business plan template. Part of our library of over 550 industry-specific sample business plans.

  10. Home Health Care Business Plan: Guide & Template (2024)

    If you are planning to start a new home healthcare business, the first thing you will need is a business plan. Use our sample home health care business plan created using upmetrics business plan software to start writing your business plan in no time.. Before you start writing your business plan for your new home healthcare business, spend as much time as you can reading through some examples ...

  11. 14 Steps to Start a Successful Home Healthcare Agency

    Here are 14 steps you need to follow when launching your successful home healthcare agency: Step #1. Create a business entity. Various types of business structure are ‌available:‌ Sole Proprietorship,‌ ‌Partnership,‌ ‌ Corporation,‌ ‌and‌ ‌Limited-Liability‌ ‌Company‌ ‌ (LLC). The type of business you form will ...

  12. Crafting Your Home Care Business Plan: 8 Essential Steps for Success

    Firstly, it forms the foundation for your business operations. Your business plan acts as a blueprint for managing cash flow and resources, essential for providing top-notch services. It also outlines the legal structure of your home health care agency, ensuring compliance and seamless operations. Secondly, a solid business plan helps in ...

  13. PDF Home Health Care Business Plan Example

    BUSINESS PLAN [YEAR] Home Health Care A family of hospitals for your family John Doe 10200 Bolsa Ave, Westminster, CA, 92683 (650) 359-3153 [email protected] ... agency and the primary costs involved in providing the services are those related to payroll. The costs of sales reflect the cost of mileage reimbursement

  14. The Comprehensive Guide to Starting a Successful Home Care Business

    The other is for a home health care agency, which provides non-medical help and medical care like skilled nursing services. The right choice depends on the kind of services you want to offer. ... A business plan is like a roadmap for your business. It helps you figure out where you're going and how you'll get there. It also helps other people ...

  15. Home Healthcare Agency Business Plan [Sample Template]

    A Sample Home Healthcare Agency Business Plan Template. 1. Industry Overview. No doubt, the healthcare cum medical industry is perhaps one of the fastest growing and largest industries in the world; this is so because the wealth of any nation depends on the health of the nation. Obviously there is hardly any country where the healthcare ...

  16. How to craft a successful home care business plan

    6. Your marketing plan. Show potential funding partners you know the modern home care market and set your local business up for success with marketing goals that cover the following bases: Digital marketing - In a job as intimate as home care, any new caregiver business begins on the local level.

  17. Home Health Care Business Plan Sample

    Home healthcare is an $84 billion industry in the US alone and it is not going to slow down anytime soon. It covers both non-medical healthcare and skilled home health care, teams. Currently, the US has over 386,000 home health care businesses and employed more than 1.7 million people approx. But this home care agency business plan is not for ...

  18. Home Health Care Costs

    ** The map uses the median of home care costs for home maker services. The Genworth 2015 Cost of Care Survey is the most comprehensive study of its kind. Genworth Financial surveyed approximatey 19% of home care agencies. We urge you to ask for a specific base price quote as well as a complete estimate of ALL services included when requesting information from ANY home care agency.

  19. CDPH Home

    The California Department of Public Health is dedicated to optimizing the health and well-being of Californians

  20. Home Health Care Business Plan

    Get the most out of your business plan example. Follow these tips to quickly develop a working business plan from this sample. 1. Don't worry about finding an exact match. We have over 550 sample business plan templates. So, make sure the plan is a close match, but don't get hung up on the details. Your business is unique and will differ from ...

  21. CenterWell Home Health

    1-833-453-1107. Available 24/7. In addition to calling, you can learn more from our free home health planning guide.

  22. Home

    As a local provider of Home Health, Hospice, and In-Home Care in Western Pennsylvania, Anova Health Care System provides high-quality, compassionate health care to patients in their own homes. Our mission is to be the premier provider of patient-centered, at-home care. With our commitment to transparent communication, lifelong learning, and ...

  23. Navigating Home Health Policies and Procedures: A Guide for Healthcare

    Understanding the Importance of Home Health Policies and Procedures. Home health policies and procedures serve multiple purposes, including: Compliance: They help ensure that an agency meets federal, state, and local regulations, including Medicare requirements, OSHA standards, and HIPAA regulations. Quality of care: By standardizing care ...

  24. New York State of Health: The Official Health Plan Marketplace

    Individuals and families in New York City (5 boroughs), Nassau, Suffolk and Westchester counties can now find and purchase in-home care from a New York State licensed home care services agency through NY State of Healthâ s home care partner, Carina. To find an agency with trained, certified home care aides in your area, click on â Get ...

  25. Make A Plan

    As you prepare your plan tailor your plans and supplies to your specific daily living needs and responsibilities. Discuss your needs and responsibilities and how people in the network can assist each other with communication, care of children, business, pets or specific needs like operating medical equipment.

  26. How To Start A Business In 11 Steps (2024 Guide)

    When writing a well-rounded business plan, include the following sections: Executive summary: The executive summary should be the first item in the business plan, but it should be written last. It ...

  27. NHC Home Care

    Nurses are available on-call to patients 24 hours a day, 7 days a week. Home Health Care Services, provided by Registered Nurses and Licensed Practical Nurses, include: Physical Therapy, Occupational Therapy, Speech Therapy. Home Care is available, with a physician's order, to patients who meet the qualifying criteria of the following payers:

  28. HCPF

    Health First Colorado and Child Health Plan Plus members, providers, and stakeholders: Get updated information about COVID-19. Enrollment Update In April 2024 there were 1,120,342 Coloradans enrolled in Health First Colorado and 82,645 enrolled in Child Health Plan Plus (CHP+).

  29. Home Health Care Services Business Plan Example

    Cash at End of Period. $28,181. $47,645. $77,497. Download This Plan. Explore a real-world home health care services business plan example and download a free template with this information to start writing your own business plan.

  30. Best Life Insurance of June 2024

    State Farm Life Insurance gets the best life insurance ranking in J.D Power's Individual Life Insurance Study, with a score of 843/1,000. The company is also ranked A++ with AM Best for its ...