How to determine your caregiver rate
Here are some ideas that will help figure out the caregiver rate in your local area, and what to charge based on what you have to offer.
Determine Your Caregiver Rate
You need to think about what you will charge for your time as a caregiver. What will you charge by the hour, week, month or yearly salary?
It is essential to know your value based on a combination of two factors; what the industry wage amounts in your location and what additional services that you plan on offering your clients. You should inform yourself on the pay range scale if the person in charge of the senior’s care asks questions about the amount that you are charging or why you charge more than other caregivers in the local area. An excellent way to check your local competitors and what they charge is through care websites. Research your competitors by ‘searching for a caregiver/companion’ as the person who is looking to hire a caregiver/companion.
What can you offer to your senior clients will impact your rate
· Emergency Care (More flexible assistance as needed)
· Caregiver experience (working with seniors diagnosed with dementia)
· Car (year and model) for outings, errands and appointments
· Business liability insurance
· Charge account/credit card for expenses
When you start as a caregiver, take as many jobs you can get at the rate the family is offering. Soon you can begin to charge more so long as you work towards building your caregiver business through knowledge and professionalism. Day by day on the job, you will acquire caregiver experience, make sure to keep your expenses low as possible for a while and let your business account accumulate with any or all profit after expenses. Having the extra cash flow will safeguard you from the days or hours that you are not working, especially if you have one client that suddenly pass away. Be prepared for a few changes in senior clients in your first two years of business. The first couple of years will be a time where you are discovering what area of senior care is best suited for you and slowly build your business around your ideal senior clients to assist.
Check out our newly released eBook ‘How to start a senior care business’ that will share with in depth how to determine your caregiving rate.
Table of Contents
- What is a caregiver?
- Two types of caregivers for seniors
- Formal caregivers are in demand
- Caregiver career
- Qualities of an excellent caregiver
- Types of non-medical senior care that you can provide
- Description of non-medical caregiver services
- Outings and activities to do with senior
- The business side of non-medical private care for seniors
- How to gain experience as a new caregiver
- Best 15 free online advertising sites for caregivers
- Best ‘offline’ places to advertise caregiver services
- Determine your caregiver rate
- Ten ways to get the best senior clients
- Contact professionals who work with seniors for client leads
- You get the Interview-now what?
- Caregiver interview questions – be prepared
- How to be of service your first few visits
- Good communication with the family of senior is the lifeline of your business
- Do private caregivers need liability insurance?
- Bookkeeping tips
- Preview of senior care business templates
- Wise caregiving mission
- Let us create your senior care website
- Senior care business templates to get you started
Included with the ebook are 12 senior care templates to help organize and protect your business, a bonus when you purchase the How to start a senior care business eBook.