how to open a home care respiratory care business?

I am a respiratory therapist and would like to open a service business like having other therapists go to patients house in need of respiratory care to provide care like the nurses do ” home visiting”.

first, how do you plan on getting paid? most will expect medicare or insurance coverage. you must have medicare provider number in order to bill medicare, are you going to provide concentrators, equipment etc. where will you get referrals? do you have a business plan? what insurers will accept your billing? do you have enough cash reserves to last until paid? insurers and medicare never pay within 30 days. who will maintain equipment? are you going to buy new or used? what other services can you provide besides respiratory? how much insurance will you need? are you going to buy or rent oxygen cylinders? how will you handle after hours emergencies when equipment breaks or elderly patient does not operate it correctly? someone has to be on call. how much equipment will you need and where can you get fast delivery when you begin to run short? if medicare goes to competitive bidding how will you compete against national chains…apria, lincare, american home patient etc? how much competition in area? find an area underserved.

answer some of these and you will have an idea…good luck, i just sold mine.