Posted: Wed Aug 09, 2006 4:28 pm Post subject: Opening an Assisted living Facility?
Recently I have started thinking about a career change and I am considering operating an Assisted living Facility. I am tryingto find out how owners nad managers of these homes are paid. I was told that you could contract with DAD to provide services to seniors who live at your facility. Someone also told me about Community Base Alternatives. I am not sure where to locate the right information to my questions so if there is any one who has more knowlege about Starting an Assisted Livinig Faciliy and how compensation works please inform me.
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Posted: Fri Aug 18, 2006 1:43 pm Post subject: wanting my own facility
i would like to start my own facility and i need to know what kind of license i need and what will it take for me to get m yown businees up and going. _________________ Register Now to have your Insurance queries solved.
Posted: Wed Jan 17, 2007 5:05 am Post subject: Opening am Elderly Care Facilities
I am interested in opening and Assisted Living Facility and I need more information on how to get it started. _________________ Register Now to have your Insurance queries solved.
Posted: Wed Jan 17, 2007 5:49 am Post subject: Boy oh Boy...
Ok another toughy. I have had a few clients come in looking for Business GL insurance on this exact risk.
First of all...you do need to get the appropriate state license and be licensed for a certain amount of beds, people, rooms employees etc.
The GL insurance on these risks is NOT cheap! It is a risky business, here is my suggestion as that is not my business but insuring it is.
If I were to go about doing this, I think I would consider purchasing a franchise such as Alterra or Sunrise they are both franchised assisted living facilities. If you go this route the head quarters would be able to help you along with this process..Location, Licenses, advertising and would help you comply with the state laws.
As far as these facilities well private ones anyway they are usually compensated in two ways the first is through an insurance company, meaning if someone has purchased long term care insurance the insurance company would be paying the claim, or the families are paying for it directly out of pocket. I would rather collect from an insurance company as I would know that I am def getting paid.....
