We had a lively group for my presentation on Profitable Niches in Private Duty Home Care yesterday at the NAHC convention in Denver.
The purpose of this presentation was to look at three niches that you focus on in order to grow your PDHC company profitably. The three niches are:
- Niche by Referral Source
- Niche by Programs & Services
- Niche by Geography
They key to “niching” is to gather data to know where you Private Duty business is coming from, and how much revenue is coming from each type of client or referral source.
For example, I shared a case study in which one Private Duty company got 16.25% of their referrals from hospitals, and averaged $526.25 per week in revenue per client. They received 6.88 % of their referrals from Geriatric Care Managers, and averaged $1,472 per week in revenue.
The sources of your referrals and the average amount of revenue from each client will be influenced by how you focus your marketing efforts.
Sharing this data generated many questions and much discussion during the presentation and in the hallway afterwards.
If you would like a copy of the handout from this presentation, send an email to Stephen at leadinghomecare.com.
To talk more about ho.w you can grow your PDHC company by focusing on “Profitable Niches,” give us a call at 502-339-0653