Starting a senior transportation business is a lot easier that starting most other businesses because it’s a service business that doesn’t require a store or inventory. The demand is growing fast for senior transport drivers because of the large number of aging Americans who can no longer drive and need a ride to medical appointments, shopping and social events. If you’ve just heard about this business opportunity, you probably have a few questions before you’re ready to get started.
Senior citizens are usually old folks above the age of 60 who are retired and dependent on their children and family for support. They usually suffer age-related illnesses such as blindness, arthritis, Alzheimer’s disease, cognitive impairment, strokes, and paralysis among others. These diseases make them depend on family and friends for doctors’ visits and personal care.
How much do Senior Transportation companies make?
Long before you fling open the doors to what will most certainly become a profitable senior transportation business, you need to do a few things first. The following list of seven key elements you need to have in place before you start booking clients will ensure your success. If you’re at the beginning of your NEMT business journey, you are reading the right article. You probably have a handful of questions—like, how much money is needed to start an NEMT business? Is it profitable? Starting a NEMT business is tough work, and it’s not cheap, but with the proper research and planning, you’ll be ready to start a successful NEMT company in no time.
Senior Transportation Potential Income Potential
The NEMT industry is a profitable one. In the US, these services usually range from $25 to $60 per hour, depending on the state. So if you work 20 hours a week at a rate of $25/hour, you’ll make $500 a week or $2,000 a month! Now that you know the NEMT business is lucrative, what’s do you do?
As an NEMT business, you’ll generally receive payments from two main groups: the patients and the government. While Medicaid payments will be a major portion of your earnings (and it’s important to be familiar with the laws in your state and county), you’ll also work with patients who will want to pay on the spot. Since it’s possible they could pay with cash, check, or a credit card, it’s good to be prepared for all options.