So, you plan to open an adult day care center...great! But what type of adult day did you want to open?
Believe it or not, there's several different types of adult day care models. These models are comprised of 4 different categories.
Let's break down these categories and then you can determine what type of adult day care you want to open!
1. Payer Source
Identifying your payer source will help you determine what audience to market to. The 2 most common options are either private pay or medicaid reimbursement.
You can accept both payment sources, but ask yourself if your primary focus would be private pay or Medicaid? Which one would account for 50% or more of your revenue stream?
**ADC Pro Tip: Before deciding, check with your local government to see what your state's Medicaid reimbursement rate is. This could help you decide, if it is even worth accepting insurance or not!
2. Demographics
Do you plan to cater your activities, support and meals to seniors (65 and up) or to young adults?
Depending on which demographic you choose to cater your programming to will have a big impact on how you operate your center.
3. Company Structure
Do you want to be a for profit company or non-profit organization?
For-profit organizations may give you more freedom to make decisions regarding your company, whereas a non-profit may have more restrictions as decisions may require "the Board" approval.
It's important for you to ask yourself what type of company structure you'd like to have before making the leap.
4. Services
Lastly, is your focus more social or medical? Do you plan to offer services that focus more on safety, supervision and assistance with the activities of daily living or to focus on more intensive medical care.
Once you determine how you want to operate in each of these categories, THEN you will be able to identify what type of adult day center you want to open!
#seniorcare #adultdaycare #startup
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TIMESTAMPS:
0:00 Intro
0:53 Identify Payment Source (Private Pay vs. Medicaid)
2:26 Identify Your Target Demographics (Seniors vs. Young Adult)
3:28 Establish Company Structure (For Profit vs. Non Profit)
6:10 Determine Services (Social vs. Medical)
7:51 Summary
9:08 ADCpro.com
9:45 Outro
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