Becoming a business owner

[jacinta30]

I am looking to start a elderly transportation service. I have no idea where to start, but it is greatly needed in several cities close by. I would like to also provide Medicaid and Medicare services for the elderly. Does anyone have any suggestions or recommendations? Thanks in advance.

[HouTx, BSN, MSN, EdD]

Sounds interesting... but kind of vague. You may need to get more specific about the services you want to provide. Would it be Home Care with on-demand transportation as well? Uber for oldies? You're definitely thinking out of the box. The ACA is expected to foster the growth of all types of different health care services, and your new model may turn out to be a stroke of brilliance.

I would suggest that you become very familiar with Home Care rules and regulations - Federal as well as any that you may have in your state & locality. This will pretty much determine what services you can bill for, and how much you can charge. Of course, you could always rely on private pay, but that is a very hard market to predict.

Transportation services are a whole 'nother thing. Are you planning to transport medically fragile people who may need clinical intervention or will you limit your passengers to those who are completely stable? If it's the latter, how will you determine their status? Lots of different parameters to consider.

In addition to all that, you'll need to develop a sound business plan that accounts for all the operational structures & processes. Here's a great place to start educating yourself.

Best of luck to you & keep us informed on your progress. I'd love to be able to read about you in Forbes and say "we knew you when".