These 7 Senior Care Business Ideas are Profitable for 2022
5 months ago
Senior care is a multi-million dollar industry if you crack the right market with the right elder care startup idea.
If you’ve already done so, we would like to congratulate you. But if you haven’t, this blog is for you!
We see outstanding future of these 7 senior care business ideas
Okay. Let us clarify. We are not sharing this with half knowledge. We even know how to implement all of these ideas successfully.
1. Marketplace for long term care homes and nursing homes
Seniors and their families struggle a lot when it comes to selecting an LTC home or nursing home for a comfortable and safe stay.
They depend heavily on the reviews they find on Google. They can’t even compare multiple LTC homes effectively.
They have to collect contact information from different sources and call individually to get more details.
A marketplace for LTC homes eliminates all such challenges for seniors and their families.
Using a marketplace mobile or web app, users can search all nearby LTC homes. They can apply filters to find only those LTC homes which meet their needs.
And most importantly, they can find authentic information about each and every LTC home on a single platform.
2. Senior-specific healthcare eCommerce store
Elderly people have some very unique health and wellness requirements.
Not every healthcare eCommerce store has products seniors are looking for or not products that seniors would find purposeful.
Moreover, being senior-specific will really help you to deliver value to seniors as your focus is now just limited to seniors, resulting in fewer efforts and more outcomes!
Through a senior-specific healthcare eCommerce store, you can sell hearing aids devices, bath chairs, sanitary bidets, nutrition snacks, fall prevention items, bed alarms and other items that are helpful to seniors in their day-to-day life.
With your eCommerce platform, you can also offer several subscription options under which seniors receive a monthly delivery of their essential items by paying a single-time fee.
3. Remote monitoring of seniors
Seniors need to be monitored round the clock as they are more vulnerable to life-threatening situations. Their vital body signs change too often.
If it surpasses a threshold or falls below a certain limit and the care team isn’t aware of it, things would go pretty bad.
Remote patient monitoring not only enables the care team to keep an eye on seniors’ vital body signs remotely, but it also sends alerts to the care team if there is an abnormal change in the vital body signs of patients.
Such an early detection gives more time to the care team to regain control over the situation.
The best part of remote patient monitoring is that it stores historic data of vital body signs and finds trends that are useful to care teams to understand overall progress and plan out care plans.
4. Automation solutions for LTC homes or nursing homes
LTC home staff is always buried under a pile of administrative work that is still performed manually on paper or on spreadsheets.
Such a tedious practice claims a lot of useful time of staff which they could invest in other senior care activities rather than carrying out data entry tasks.
You can free up overwhelmed LTC home staff with an RPA-based automation solution that carries out all repetitive administrative tasks by itself with higher accuracy and much faster than humans.
Since market competition is very low here and you are solving the real problem, your automation solution is most likely to become the first choice of LTC homes and nursing homes.
5. Care marketplace for seniors
Seniors not living in nursing homes and LTC homes require a caregiver at their place to help them with daily activities.
However, the challenge here is, seniors and their families cannot easily find reliable and trustworthy caregivers on short notice for short periods of time and even for longer periods of time.
They have to highly rely on agencies.
But with a care marketplace for seniors, seniors and their families can connect to individual caregivers directly and hire them on-demand.
Before hiring them, users can compare different caregivers, read feedback and chat with individual caregivers to evaluate whether a caregiver is fit for a job or not.
6. On-demand healthcare staffing app for LTC homes
There is an unprecedented healthcare staff shortage across Canada and the USA. With many nurses and providers preferring to work part-time, the labour shortage has become worse during the pandemic time.
You can aid the LTC homes and nursing homes to hire staff on short notice by building an on-demand healthcare staffing app.
Using such an app, LTC homes can explore profiles of all listed nurses & providers and approach them for a quick hiring process for either a single-day job or a long-term job.
BookJane is the best example of an on-demand healthcare staffing app in Canada.
7. Caregiver education platform
Modern caregiving is challenging. Family members who take care of other elderly or ill family members find it extremely challenging to look after the patients professionally.
Because caregiving is not only about looking after someone physically. It is also about engaging patients mentally and healing them from within.
And thus, it requires professional training and knowledge. With a caregiver education platform, you can empower all individuals with a platform that makes them aware of different types of caregiving, how to deal with different situations, some professional first-aid training etc.
This conclusion will hit you hard!
They need you (Don’t forget they were with you when you needed them!)
Let’s together make seniors’ lives safer, valuable and as fun as ours - with technology!