Self-Assessment - a Pathway to a Successful RCFE
Before you consider owning and operating a residential Care facility you need to learn about the industry; the need and location for facilities, estimated cost and income , suitable property and marketing opportunities.
It is a self-assessment which can include:
• You are a health care provider.
• Do you have experience caring for the elderly as a caregiver.
• You love seniors.
• You want to own your own business.
• You want to make money.
• You see growth in the senior care industry.
Can Include your professional and work skills such as:
• Experience as a caregiver
• Experienced business skills
• Excellent communication skills
• Medical background.
• Excellent marketing skills
Can include a various information such as:
• Industry review—the number of existing facilities in your area.
• Analyze the quality of the competition in your area—CCL citations.
• Need for more facilities in your area?
• What are the fee charges for a private vs., a shared two in a room?
There are various options which include:
• Buy an existing operating RCFE
• Use your own home
• Lease a home
• Purchase a home.
• Build your own home.
Can include any or all of the following:
• Under-capitalized
• Lack of basic knowledge
• Poor communication skills
• Poor business and management skills
• Poor marketing skills
• No 'stick with it' philosophy
• Lack of problem-solving skills
Most important is increase in various cost of doing business:
• Cost of housing
• Cost of labor
• Cost of insurance
• Cost of marketing
• Legal liability