I don't know anything about this, but, it's an interesting concept. I do NOT know this, but, i wonder-------, if you are private pay only
mayyyybe you might not need to bother with JAHCO, doctor's orders (for diet, activity, etc,)
NPI numbers, HIPAA forms,
you still might need a Federal employer identification number (EIN) etc. And a "business" license.
If you are going to try for third party payors, oh yeah, i can imagine you now have tons and tons of requirement to be met, but, that is just a guess.
I bet some of these answers, will vary state to state.
Will you be doing any "skilled" nursing care for these people?
Or just food, ADLs and general supervision?
Do you plan to have employees?
Do you ever take vacations? If so, who watches these people while you are gone?
If patient declines, and you 'miss' noticing it, how hard will you be sued? I think you'd need a lot of legal advice for this project. If your home caught fire, and all 5 oldsers don't get evacuated, i think there's a liability there, too.
If you are busy with oldsters #1 -#4, while 5th oldster is trying to sneak into basement and falls, or drinking drano, i think you mihgt be the one who is responsible.
I see a lot of ways you could end up sued....Might be easier and safer to take in severely disabled, immobile foster kids who often come with many hours of their own nurses, therapists, etc. and all of their medical supplies are paid for, (you still get paid)
to take in 4 or 5 walking talking semi-helpless oldsters, who will only be getting MORE helpless with each passing year,
but, i don't know.
Either way, foster kids, or oldsters, is a ton of work, imo.
I'd get liability insurance
and malpractice insurance
, and red your home-owner's insurance policy reeeeal carefully with a lawyer next to you.
And i'd see a lawyer,
about if you should become an LLC or incorporate yourself. (me, i'd see several lawyers on this, lawyers who specialize in nursing law, etc)
I'm also guessing you'd need a real good accountant to help you with your taxes.