The True Cost of Starting a Home Health Agency
Know The Investment Upfront – for FREE!
Create Your Own Customized Budget With This Free Tool
Starting a home health agency is an exciting venture, but it can also be costly.
It’s important to budget for all of the costs that you’ll incur when starting your home health agency before you get started so that you don’t find yourself in financial (and legal?) trouble later on.
How much does it cost to open a home health agency?
The cost to open a home health agency varies depending on the number of employees you have, how much office space you need and whether or not you are taking over an existing home health care company.
Before you get ahead of yourself you need realistic figures to know how to budget for your home health agency.
There is tons of paperwork and costs associated with the initial investment for the new home health agency.
One of the biggest expenses you’ll face when starting a home health agency is licensing and regulatory costs. These can vary depending on your location, agency type and whether you will be starting a franchise agency or starting from scratch.
Secure Your Future!
Make a Difference, Reap Rewards
Start a home health agency and impact lives in your community while tapping into a growing industry. Offer essential care at home, meet a vital need, and build a fulfilling and profitable business.
Ride the wave of a booming trend: As more people choose to age at home, the demand for home health agencies is skyrocketing – seize this opportunity now!
Home Care Agency Type
For anyone looking to start their own home care business, it is important that they understand the difference between a skilled medical home health agency and non-medical agencies.
Unsurprisingly there will be some significant differences when running one type of company versus another including how much time or money you’ll need for setup costs depending on your goals.
Budget Tool for Opening a Home Health Agency
To get an idea of just how much it will cost to start a home health agency, here’s an easy to use budget tool for starting a home health agency in 2024.
It won’t take long to fill in some simple questions and you will get a customized full copy of the initial investment costs of opening a home health agency. Your line-by-line budget will be your starting point on how much does it costs to open a home health agency.
Agency Type
Type of home health agency; please choose one
The Basics
Please select how you plan on starting the agency.
Franchise
What is the initial Franchise Fee to get started?
[item-1824_price]
Purchase
Buying a home health agency outright.
wide range here; could by from $5,000 to $500,000!
Licensing
Licensing can be one of the largest expense you will have - other than labor.
The Licensing costs for a non-Medicare agency range from $40,000 - $75,000,
The Licensing costs for a Medicare agency range from $50,000 - $75,000,
The Licensing costs for a Private Pay agency are among the lowest and can be from $5,000 - $50,000,
Key Personnel
Here you will select the key positions to get you started - you need these folks on day one!
$7,500 per RN that needs to be recruited.
RN selected: [item-1838_quantity] for a total cost of: [item-1838_price]
$5,000 per HHA that needs to be recruited.
HHA selected: [item-1839_quantity] for a total cost of: [item-1839_price]
Legal and Insurance
[item-1850_price]
[item-1851_price]
[item-1852_price]
Office Related
[item-1857_price]
recommended: $5,000 +
[item-1858_price]
recommended range: $2,000-$5,000
[item-1859_price]
electricity, gas, etc.: $3,000-$5,000
Technology
Essential to running an efficient home health agency.
[item-1864_price]
recommended: $7,000 +
[item-1865_price]
recommended: $5,000
Advertising and Marketing
[item-1869_price]
recommended range: $4,000-$10,000
[item-1870_price]
recommended: $1,000
[item-1871_price]
recommended range: $5,000 +
Policies and Procedures
IMPORTANT: A home health agency needs this BEFORE all other planning.
[item-1876_price]; suggested range is $1,000 - $3,000
Supplies and Equipment
[item-1880_price]
recommended range: $5,000-$10,000
[item-1881_price]
recommended range: $15,000-$30,000
[item-1882_price]
recommended range: $2,000-$5,000
Miscellaneous
[item-1889_price]
recommended range: $4,000-$10,000
[item-1890_price]
recommended: $15,000
[item-1891_price]
Agency Name!
Almost there... last Step... would you like to add an agency name to this initial investment project?
Licensing (Purchase)
Licensing can be one of the largest expense you will have - other than labor.
Agency Initial Budget
We'll send you your detailed custom budget!
Summary
| Description | Information | Quantity | Price |
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NEW FOR 2024
150+ Policies and Procedures! Customized for FREE with YOUR agency information!
You will need these forms BEFORE you open an agency; avoid very costly mistakes and save thousands of dollars! Access your very own home health care agency policy and procedure manual. Add your logo, name, address etc. all for FREE!
PLUS we just added a new ** Agency Employee Handbook **!