Senior Care Business Opportunities Offer Great Reward
Entrepreneurs can look to America’s rapidly growing senior citizen population for opportunities to profit financially and from the personal reward of providing services that greatly improve the quality of life of seniors and their families.
Entrepreneurs have a wide choice of senior care business services. These include senior care businesses that provide nonmedical in-home care services, home health care services, adult day care centers, home medical equipment businesses and geriatric care management.
Senior care businesses that deliver elder care services to the homes of clients offer the greatest opportunity, as a growing portion of seniors are stating their preference to continue living for as long as possible in their own homes, as an alternative to residential elder care facilities such as assisted living and nursing homes.
Following is a brief look at senior care business options:
- Home care provides older adults a comprehensive range of senior care services that help them maintain independent living at home. These services are nonmedical in nature. They focus on providing seniors companionship, light housekeeping services, meal preparation, help with attending to personal care and hygiene and transportation to appointments—whatever is needed to enable a senior to safely, confidently, happily and healthfully continue living at home.
- Home health care is a senior care business that focuses on providing older adults skilled health care services at home. These include nursing services, such as disease management and wound care, as well as physical therapy. Some home health care providers also provide nonmedical home care services. Others partner with home care providers.
- Adult day care is a senior care business that provides day-time care for older adults in a community-based setting. This offers older adults opportunities for socialization, meals and activities while family caregivers are at work. Some adult day care centers provide health care services.
- Home medical equipment businesses provide in-home medical equipment and supplies and assistive devices that help older adults live independently at home.
- Geriatric care management is a senior care business that plans care for seniors to promote their quality of life and independence. A geriatric care manager coordinates services from other senior care businesses to satisfy each senior’s needs.