Nurse Practitioners who want to get started in business, with low overhead would do well to look at this business model. Listen in:
Start a practice with Assisted Living Facilities
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{ 10 comments… read them below or add one }
I have ponder the idea of an assisted living facilty for years. I have a practice in which I provide care for elderly in a nursing home. I think an NP owned and operated assisted living facilty is a great market. Is there any NP’s who have taken this step.
I would like to actually star a house call practice targeting senior cneters, assisted living and nusring homes. Im still in the process getting everthing together . If i do get info i will gladly pass it on. In the meantime good luck!
If you decide to have a practice based on making calls to LTCF, what do you need to do? I know you need an NPI and Medicare Provider number. Do you need to create an LLC? What about physician supervision? I’ve been asked to call on patients in assisted living, but the more I think about it, the more I realized I don’t know how to get started. Any tips would be appreciated.
Kaye,
Great questions.
1. I always recommend you look into creating some sort of a corporate business structure. Which one will depending on what you plan to do, and to some degree state laws. An LLC is one of the easiest. Note that you will need an NPI number for the business itself.
2. Physician Supervision – It depends on your state law. If you are somewhere that requires this, then yes. In terms of physician involvement for LTC facilities – it is still required, nationally, that there be a physician attending. So even in an autonomous state such as mine (WA), the patient must have an attending physician and that physician must stay involved with the care (visitation rules vary).
Hope this gets you started. Since you are an NPBO member, be sure and get on our next Q&A call and we can go further into depth with your questions.
Barbara
Barbara,
I am planning to start a house call business in the near future & am actually considering assisted living facilities. What is the best way to market to these individuals? Also, considering that Medicare only reimburses NPs 85%, should I be credentialed with other plans in case they have a secondary payer? Is it necessary to have hospital privileges? If not, what do you do if you think a patient needs to be hospitalized? I have a lot of questions regarding this particular niche. Are there resources you can suggest?
Thank you.
Hi Teri,
1. First, market to the facilities. You’ll find the administrators and nursing directors will do much to help you market to the individuals and their families
2. Most will have medicare and some sort of secondary. Find out what’s most common. Usually (in my experience) if you are credentialed with MCR, you’ll be fine. However, I’m now seeing where some of the Medicare Advantage Plans want us to credential with them as well.
3. You’ll still only be allowed 85%, but MCR only sends you 80% of the 85% and the 20% will come from patients or secondary payers.
Hope this helps.
Barbara,
What is MCR?
Thanks,
Teri
Teri,
MCR = Medicare
Barbara
Barbara,
In providing healthcare to seniors in their home, how important will it be for me to have hospital privileges?
Teri
Hi Teri,
Not knowing the entire situation, I would still venture to guess that having hospital privileges will have little to do with seeing seniors in their homes.
Barbara