As a healthcare professional, you entered the medical field to help people. So at first, it may feel uncomfortable to think about entrepreneurship. After all, you have a calling. You didn’t enter this field for the money—you entered it because you’re passionate about improving other people’s lives. But as overall health and wellness becomes a central focus of care, you have an opportunity to join a thriving market of healthcare entrepreneurs. In this role, you can make a difference and support yourself simultaneously.
Why Starting Your Own Healthcare Business is Worth Considering
Over the next five to six years, national health spending is expected to increase 5.5% every year, eventually reaching 20% of the national GDP. And at the same time, the population is aging—by 2030, more Americans will be over 65 than under 18. These two trends open a tremendous opportunity for healthcare professionals, who can use their leadership skills to fill gaps in the market and make a difference to communities.
Here’s why we think this decade’s biggest healthcare opportunity is becoming an entrepreneur.
Get Rewarded for Providing Value
The landscape of US healthcare is changing, driven in part by a new value system that rewards providers for keeping their patients healthy—not just for treating illness. That means you don’t have to worry about profiting off sickness. Instead, you’ll be rewarded for your innovations in preventative care and overall patient well-being.
Ethics and economics come together in healthcare entrepreneurship, allowing you the freedom to explore your passions and cultivate a thriving business at the same time. Where you see gaps in patient care and comfort, you can find ways to fill them that will benefit your patients, and you’ll be rewarded for your efforts.
Leverage Your Expertise
As a healthcare professional, you possess many skills that serve you at the bedside and in the boardroom. You know how to recognize and assess opportunities to prevent, heal, and soothe. This ability allows you both to treat patients with better care and to identify the best ways to capitalize on business decisions. You’re constantly managing uncertainty, mitigating risk, and using creative problem-solving in the hospital setting, so why not leverage these skills to your advantage with your own franchise?
Even if you don’t have business experience under your belt, healthcare franchise opportunities offer support systems and training that help you make the most of your planning, prioritizing, self-efficacy and emergency management skills.
Empower Yourself and Others
Nurses especially understand the harsh conditions of hospital work, often ignoring their own health and wellness needs as they focus on those of others. But this tradeoff isn’t necessary — healthcare entrepreneurship allows you to provide life-changing care for members of your community while giving you the power to set your own goals, schedule, and self-care priorities.
A 2017 study found that nurses report higher rates of self-care practices after making the transition from employment to entrepreneurship. Meanwhile, they gain important psychological empowerment benefits, like a sense of purpose, decision-making independence and the feeling of having an impact on the world.
Top Option: Senior Home Health Care Services
Of all the benefits that come with healthcare entrepreneurship, one that ranks among the top is being able to grow as a professional while helping others live their best lives. And with an aging population that only continues to grow, senior citizens are the community that needs help the most, both now and in the foreseeable future. Demand for in-home care services already far exceeds supply, as only 15% of seniors who need professional home healthcare services actually receive them.
Owning your own senior care franchise is an incredible way to fulfill both a need in your community and a need within yourself — to help, to heal, and to thrive.
Boost Home Healthcare: Empowerment for Entrepreneurs
Are you interested in the benefits of starting your own senior home healthcare franchise? When you’re ready to take the next step toward empowering your future, turn to Boost Home Healthcare for support, success, and significance. Reach out to our team at (248) 781-8825 or contact us here for more information.