Elder Care, A Fast Growing Business

It is the “baby boomer” generation that is fueling the elder care business at moment in time. Because our population tends to move to new work opportunities, or better climates, we find that our elderly population needs care by someone other than family members. Regardless of where you are, there are opportunities to create a business around the care of elderly people. Usually this is in the individual’s home where they want to live out their days in familiar and comfortable surroundings. An elder care business can be simply one that provides companionship, meal supervision, and some personal hygiene, or it can be a medical provider if the provider has the state’s licenses necessary to provide medical services. As a business you would employe individuals to provide the direct services and collect fees for the management, organization, and control of the care provided. Some of the services my be covered by Medicare or Medicaid or by the individual and the family. Every state has specific regulations that require training and restrict the type of care given. Be sure that you are aware of and comply with these requirements and regulations.