How To Build A More Profitable Home Care Business

Profit first!!

The problem that many home care agencies are facing is that they are not focusing enough time on their margins. On today's episode of Home Care Digital, we welcome my friend and mentor Steve The Hurricane Weiss from Home Care Evolution to discuss How To Build A More Profitable Home Care Business.

To Learn More About The Upcoming Home Care Evolution Boot Camp, go to https://homecareevolution.com/bootcamp

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Are you looking to increase your profits in your home care business without having to increase your number of clients? It's a common question that many business owners in the industry ask, and it's not always an easy answer. But fear not, because we have Steve "The Hurricane", a home care industry expert, to give us some tips on how to achieve just that.

Trim the fat

The first step, according to Steve, is to trim the fat. Look for any unnecessary spending or inefficiencies within your business that are not providing a return on investment. By doing an internal audit, you can save money and increase your profit margin by a few percentage points.

Increase your Rates

But the most important step in increasing your profits is to increase your rates. This might sound daunting, but Steve suggests that it all starts with finding the right type of customer.

Steve uses the acronym NERD to describe the ideal customer:

• Need
• Elderly
• Resources
• Disabled and/or has Dementia

These are the clients who need a lot of help and are willing to pay for it.

How to Justify Charging Higher Rates

To justify the higher price for these clients, Steve suggests adding two new positions within your business.

1. Care Coordinator

The first is a care coordinator who will visit the client and caregiver regularly, ensuring that the client is receiving the best possible care.

2. Team Lead

The second is a team lead, a guaranteed work caregiver who comes to the office every morning and covers the shifts of any caregivers who call out. By providing a superior service to these high-need clients, you can charge more and increase your profits.

Steve's advice may not be easy to implement, but it is certainly worth considering if you're looking to increase your profits without having to take on more clients.

By finding the right customers and providing a superior service, you can charge more and increase your profit margin, making your home care business more profitable than ever.

To Learn More About The Upcoming Home Care Evolution Boot Camp, go to https://homecareevolution.com/bootcamp