Resources for Care Managers

Resources For Your Care Management Business

It doesn't matter whether you are in your own practice or not, but you are all entrepreneurial in nature and as such there are financial considerations to just about everything you contemplate doing.  If you are just starting out, the first question is "When is the right time to create your Corporation or Partnership and what are the advantages and differences of each.  There's lots of questions that have to be answered in order to navigate down the path that's best for you.  And what's best for you might not be best for a colleague; there's always different issues and consideration to think of.

Of course, the tax considerations will ultimately play a prevalent role in this process.  But this is all predicated on one important aspect and that is Keeping Your Business Organized.  We've seen how bad this can be with our client base, who've accumulated years worth of papers and now have to deal with these consequences.  There are proven practical ways to do this in a time-efficient and effective manner.  It involves software whose name you've heard, whether it's Quicken or QuickBooks.  And again, there are conscious choices that you have to make when going down this path.

What we can do is help you with these decisions.  Once you've made the choice, we can set-up your business by tailoring it to your specific needs.  After that' you can choose to either take possession of it or allow us to perform the bookkeeping function on your behalf.  Remember, it comes down to time and how best you choose to use it as you run your business.

Oftentimes, it is quite common for clients to rely on professionals to assist them, especially in times of need.  It is quite common for questions to be asked that are outside the disciplines of the professional service provider.

Resources For Your Clients

As a result of repeated requests from Care Managers, we have developed a series of worksheets and checklists to better assist their clients in preparing them for for a specific path they need to travel. 

Medicaid Application

With the recent changes to the Medicaid rules on the look-back period of financial documentation, we have developed a comprehensive worksheet designed to navigate through some of the documentation and questions that need to be asked as part of a Medicaid application filing.  While there is probably no single piece of documentation that could possibly factor in every variable, we have attempted to make out checklist and fully inclusive as possible.

Household Payroll

As our population ages and life expectancies increase, it is becoming more common for a support structure to reside in the household.  Whether they consist of aides, caregivers, nannies, or babysitters, the theme is the same.  They need to be paid legally (on the books) since it is just not worth the headache or risk to a family.  I have seen the consequences of this and it is not pretty at all.  Hindsight is 20/20 but the challenge is that setting up payroll is inherently a logistically complex process, with burdensome requirements and constant tax filings to the federal and state. 

We have developed an electronic payroll service specifically designed for households.  Consider for a moment the advantage of having a totally electronic process, from the point of entry of time information to direct deposit to the employees bank account, and a paystub breaking out all the deductions to the quarterly filings of all federal and state  withholding tax forms and payments.  Not a single form to fill out or a stamp to lick.  We made the process so simple and economical that anyone who was reluctant to go down this path can now think otherwise.

Best of all these documents have been specifically designed so that when you print them, there is space on the top of the document for you to include your company information and logo, if you want.  This will allow you to include these sheets in the welcome packets you give to new clients or prospects and increases the value of the service you provide by giving a more comprehensive type of service.

Please be aware that these documents are meant for your free and unrestricted use.  Feel free to forward them to any of your colleagues who might be interested in them.  Permission to reprint in all or parts is granted provided appropriate credit is given to Redlig Financial Services.