Additionally, how will you protect against the threat of hackers?
If you breach a condition, will you be able to recover if you’re hit with a lofty fine?
Familiarize Yourself with HIPAA The Health Insurance Portability and Accountability Act (HIPAA) of 1996 plays a significant role in the strategic and day-to-day operations of health care businesses.
The HIPAA Privacy Rule and the HIPAA Security Rule are particularly challenging sets of guidelines to follow as they dictate the handling of patient data.
Take some time to consider if purchasing a franchise business is a good fit for your situation and goals. Nurse Next Door, a home health care franchise that provides in-home care for clients, cites a range of $134,000 to $180,000 as its total franchise start-up fee.
Other drawbacks to opening a franchise include less freedoms and royalty payments, while advantages include corporate support, brand name recognition, and lower inventory prices.
This tool is a template for creating a business plan document.
It explains how to build a business plan that incorporates patient safety goals, outlining the essential elements and highlighting key considerations in preparation.
But the health care industry is heavily regulated and even a single seemingly innocent error can cost your business millions; couple that with the competitive nature of the industry and health care can be a difficult field to succeed in.
Before diving in, it’s important to analyse objectively your prospects.