When you're first opening your adult day center, you might feel like you have to choose between being Medicaid focused or private-pay focused.
The fact of the matter is that you should choose one of these payer sources as your primary focus but that doesn't mean you still can't do both.
However, before you decide which way to go, make sure you ask yourself these simple questions:
1. Who is your Target Audience?
First, it is important to identify your target audience. You target audience can be defined by income level, age, location, interests, or even language preference.
The more specific you are with your target audience, the easier it will be to attract them because you can create an environment that resonates best with that audience.
2. What Percentage of those in Your Area are on Medicaid?
If your target audience in your area has a high percentage of individuals on Medicaid you may want to cater towards that demographic.
The same will goes for the areas that have a lower percentage of those on Medicaid. In this, case it would make sense to cater your services to a private pay audience.
3. What is the Medicaid Reimbursement Rate in Your Area?
Depending on the reimbursement rate in your area, you might scratch Medicaid all together and just focus on private pay.
If your area has a low reimbursement rate for Medicaid, then it may not be beneficial at all to go that route. However, if the Medicaid reimbursement rate is high, then you could reassess depending on the difference between what you would charge individuals out of pocket versus what the state may reimburse.
Is it in alignment with what you would charge your private pay clients? If so, are you open to dealing with the additional headache that may come along with billing for services through Medicaid?
Once you answer these questions and get clear on your goals, it will make more sense if you should keep it simple and focus on Private pay or attempt the Medicaid mountain.
Remember, you can always serve both parties but it is important to focus more of your efforts on one demographic over the other depending on your target audience.
#seniorcare #adultdaycare #medicaid
_________________________________
TIMESTAMPS:
0:00 Intro
1:52 Who is your target audience
2:50 What percentage of your target audience is on Medicaid
5:09 What is the Medicaid reimbursement rate in your area
7:05 Conclusion
8:01 Outro
_________________________________
Join us weekly as we help inspire the next generation of senior care entrepreneurs!
Own an ActivAge
🚨 FRANCHISE OPPORTUNITIES: [ Ссылка ]
Adult Day Care Pro
⭐️ JOIN THE MOVEMENT: [ Ссылка ] ⭐️
CAREpreneur Merchandise
👕 VISIT OUR STORE: [ Ссылка ]
Get Business Consulting From Kris:
📲 45 MINUTE COACHING CALL: [ Ссылка ]
→ → → CONNECT WITH KRIS CHANA ON SOCIAL MEDIA: ← ← ←
▶︎ YOUTUBE | [ Ссылка ]
▶︎ INSTAGRAM | [ Ссылка ]
▶︎ LINKEDIN | [ Ссылка ]
▶︎ WEBSITE | [ Ссылка ]
