Insights to Scale Your Home Care Business

Stephen Tweed | March 17, 2021 | Events and Opportunities
By Stephen Tweed The year 2021 will present a huge growth opportunity for home care companies coming out of the 2020 Crazy Covid Crisis.  All indications are that companies who have a solid foundation and clear strategies for growth will be able to scale their business this year. Yesterday, we had a wonderful opportunity to…

By Stephen Tweed

The year 2021 will present a huge growth opportunity for home care companies coming out of the 2020 Crazy Covid Crisis.  All indications are that companies who have a solid foundation and clear strategies for growth will be able to scale their business this year.

Yesterday, we had a wonderful opportunity to host a panel of home care owners and CEOs for the 2021 Home Care Pulse Growth Summit.  This online video conference went out to over a thousand leaders in home care.  Our panel focused on four specific lessons for scaling your home care business.

Our Panelists are Mastermind Members 

The three panelists who share their insights for scaling their businesses were:

Kyle Bossung, CEO, Senior1Care, South Bend IN. – https://www.senior1care.com/

Krystal Wilkinson, CEO. Adult Care Assistance, Tucson, AZ – https://adultcareassistance.com/

Allen Serfas, CEO, Assistance Home Care, St. Louis, MO – https://www.assistancehomecare.com/

Kyle is a member of our Top 5% CEO Mastermind Group, Krystal is member of our Top 10% Group, and Allen is a member of our Top 7% Group

Insights to Scale Your Business

Over the past 9 years that we have been leading these Home Care CEO Mastermind Groups, we have learned a number of important lessons about growing a home care company.  For our panel discussion, we explored four lessons:

Have a Huge Vision – When you have a clear mental picture of the company you want to build, then you can communicate your vision with your team members and work together to achieve it.  Each of our panelists has a very clear vision of the company they wanted to build when they started.

Be a Systems Thinker – The leaders in home care are systems thinkers. They define the specific task in the business that are repeated frequently, and they develop people and processes to repeat those tasks consistently.  At Leading Home Care, we have identified twelve specific systems that you can create to scale your business:

  1. Sales System
  2. Marketing System
  3. Inquiry Handling System
  4. Recruiting System
  5. Employment Compliance System
  6. Retention System
  7. Scheduling System
  8. Care Coordination System
  9. Payroll System
  10. Billing & Collection System
  11. Metrics tracking System
  12. Financial Reporting System

You can’t build all of these systems at once, so set your priorities on your strengths and go with what you do best.  Then work on the systems that are more challenging for you.

The Company that Attracts the Best Talent Wins in the Marketplace – Every home care company in the world is facing the caregiver recruiting and retention crisis.  Yet these leading companies are able to grow by regularly recruiting new caregivers and retaining the ones they have hired.  This process begins by hiring top talent for your office team, and then putting in place processes for finding and keeping caregivers.

Use Benchmarking Data to Drive Strategic Decisions – One of the most common topics of discussion in our Mastermind meetings is about how members track metrics, measure performance, and use data to make strategic business decisions.  All of our members have a clear numerical picture of how their business is doing, and our mastermind groups collect benchmarking data so they can compare results and discuss solution.

We encourage every home care company to participate in the Home Care Pulse Benchmarking Study, and to use that data to make better decisions.

 

For More Information on the Home Care Pulse Growth Summit 

For more information on all of the programs presented at the Home Care Pulse 2021 Growth Summit, visit their web site.

Stephen Tweed
Stephen Tweed, CSP, began his journey as a business strategist in home health care in 1982. Today, Stephen is among the top thought leaders in Home Care strategy and management. He has worked with top 5% companies from across the US. He is a sought after speaker at from national and state association events.

Related Posts

Extraordinary Transformation: A blueprint for leaders who want to Transform their Organization

June 5, 2024
By Stephen Tweed As a leader in Home Care, are you working on transforming your organization? Are you looking for strategies and insights to grow your business and get ready for the future? I've just finished reading an amazing book by my friend and professional speaking colleague, Dr. Nido Qubein. "Extraordinary Transformation: An Entrepreneurial Blueprint…

Stephen Tweed’s Podcast and Webinar Appearances

May 30, 2024
As a significant Thought Leader in the Home Care industry, Stephen Tweed is frequently invited to be a guest on industry podcasts and webinars. Here are links to some of Stephen's recent appearances. May 2024 - "The Power of Peer Groups: How Home Care CEOs Propel the Industry's Growth" Stephen was interviewed by Ruby Mehta,…

The Forces and Trends Shaping the Future of Home Care.

May 14, 2024
By Stephen Tweed What will the Home Care Industry look like in five years? Over the past two decades I've been actively engaged in the Home Care Industry, and monitoring the Forces and Trends that are shaping the future of our industry. While much of the growth of Home Care is driven my the entrepreneurial…