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Written by : Jackie Prator |
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hey how everybody doing all right so can we try it again hi everybody dawn all right see i feed off your energy and i give you back the same energy that you give to me so my name is jonathan gooch most of you guys probably never seen me don't know who i am which really isn't that important because at the end of the day i'm a healthcare entrepreneur so i deal with once you get sick then i step in my company take care of you inside the home but what people have to understand is when people hear health care they only think about hospitals urgent care doctors offices and things like that but in today's world things are starting to migrate into home health care so have any of you guys ever had any type of home health care raising hands anything at all you have what kind of home health care have you had yeah so you have a home elf health aide that come out so that's what my company does the reason why i ask that question is because most people when i mention home health care they're like i really don't know about it i haven't had to have home health care yet but things are starting to change when people think about home health care all they think about is having an aid to be able to come out but when covert 19 hit things drastically changed when i say drastically change now we're doing things like tell the medicine pretty much anything that you're able to get inside of the hospital they're trying to be able to provide those services inside of the home most you guys are looking like man why is that even important what does that matter think about when covet 19 hit the hospitals was overran and they still are today but my company comes in and actually help covet 19 patients inside of the home the reason why that actually matters because think about this most of the decisions that you make about your life are done inside of the home everything that you pretty much do is all the major decisions that you have is done inside of the home so to be able to receive your health care inside the home means everything because now you don't have to go to the hospital and deal with long lines now you don't have to be in the hospital with other people coughing and different things like that i'm able to send out an aide a cna a nurse to be able to come take care of you inside of the home and most of you guys still like well how is that going to start connecting with me now the reason why i'm bringing this up today is because your insurances and everything else is actually moving towards home health care the average hospital visit is somewhere like around three thousand dollars a day for my company to come in and take care of somebody inside the home roughly is around 1100 a day for us to be able to come in and take care of you the rising cost of home health care and the rising cough of health care in general is astronomical it's just crazy but if you look at the numbers home health care is cost almost one-third less than what it would for you to be able to go into the hospital so home health care is on the rise so everybody in here is going to have some type of form of home health care especially into the future that we're going into with telemedicine and they're starting to come out with new technological devices for us to be able to monitor everybody inside the home that's one of the biggest things so now instead of you having to go to the doctor think about if you have to have a doctor visit you already got everything you need inside the home to be able to have that doctor's visit inside of your home that's where we're moving for and that's what we're moving to in the world in the state that we're going into today that's why when you look at the metaverse and all these different apps and things that's coming up people are people are taking this stuff and looking at it as of being able to try to make money but you got healthcare companies that's going to utilize the metaverse to actually be able to do doctor's visits and you guys are like man like you know what does that matter to me what i'm really telling you guys is that the the shape of the health care system that we know today is changing and it's changing so fast that a lot of people don't even really see what's coming healthcare in the united states is growing to the point where it's costing our gdp somewhere like around i think maybe four trillion dollars is what we spent last year they've actually did test studies that show that the different states that have implemented more money towards home health care see a decline in hospital visits what does that matter to us most people once they get admitted to the hospital within seven days they go back to the hospital what does that really matter the hospital visit is what's costing us the ambulance ride once they get to the hospital the the nurses and everything is a cost i had a patient of mine a young gentleman he had cancer he was in a hospital maybe around two months when i seen his hospital bill it was 1.7 million dollars for him being in the hospital once he got out the hospital he transitioned into my company we literally charged him somewhere like around i think for the year 175 thousand dollars for us to take care of him for the year so if you really look at it him in the hospital for two months 1.7 million 175 000 and he didn't have to go to the hospital no more we literally took care of him fully inside the home before we actually got a hold of him he went to the hospital maybe around nine different times and every hospital visit typically lasted around a month before they actually figured out everything that was going on with him and when i looked over his overall bill to the insurance company it was somewhere like around eight nine million dollars so what i'm saying to tell you is home health care is the way to go we have to stop we have to stop waiting until we get sick we have to stop waiting until something happened for us to actually take action with home health care services now you're able to schedule going to the schedule seeing your doctor and everything else inside the home we actually pull blood for an insurance company so you know how you normally go to the doctor get your blood pulled x y z now companies like mine are able to come out to your home i send a nurse they come they pull your blood and now we send it off to the doctor's office and we send it off to get to wherever it needs to go and your doctor gets real-time information within 24 hours knowing everything that's going on with you and you never even had to go to the hospital so now that whole man i'm too busy to go x y z i've literally had my nurses go to people jobs and actually see them and pull blood work so you guys kind of understand what i'm saying now yeah so what i'm saying to tell you guys is we got to stay proactive because if we do not then the rising cost of health care services is going to really take this country so as of what i'm trying to explain to you guys is we got to stay more proactive we have to actually be able to take heed in the home healthcare services because i have people who are you know people who are in wheelchairs i have people who ha
Thanks for your comment Sylvester Hilland, have a nice day.
- Jackie Prator, Staff Member
hi and welcome back to entp life this episode is a continuation of how to start a homecare agency and we're going to be covering exactly what sort of business structure should you be using when forming a new company now for those of you who are coming to entp life for the first time on this channel we mostly talk about real estate we're now starting to dive deeper into my other business which is home health care and I'm trying to show people as much of my interest as possible outside of business here on this channel so from time to time you'll see things when real estate definitely be seen things on home care agencies and any of my other interests so if that's something that does interest you please make sure you hit that subscribe button and don't forget to like this video because it helps to promote the video within YouTube's algorithm of how they promote videos if you have any questions at all please leave them in the comments section below so in today's episode I'm gonna be covering what type of business structures exist and what business structure do I use for real estate and what business structure am I using for this company in particular so the most common type of business in the United States is actually a sole proprietorship now this is for people who are opening little shops maybe food carts very basic businesses or they're just independent consultants you go down to your county clerk's office or whatever it is in your jurisdiction and you pay a fee and that allows you to function as a business ok now the benefit to that is that you have the the legality to operate as a business right but I've never actually formed a sole proprietorship in my life and I've and I've had quite a few businesses I don't really like them because they don't give you any protection as as as an entity and there's no separation between you and the entity you can't build credit for your sole proprietorship it's pretty much you saying that I'm in business for myself and there's no benefit to it I guess the only benefit is that you're functioning legally and that's about it I can't really see what the benefit is so for the sake of what we're doing here you know starting a home care agency throw the sole proprietorship out the window not for you now step up from a sole-proprietorship would be a partnership now this is another legal entity where you and other people are coming into agreement to have a business and form a partnership once again this is something that I've never done and I wouldn't recommend to anybody because I've never done it before the only thing that I could see you know a partnership being is a sole proprietorship amongst multiple people I don't really know what the protections are for a partnership and I really don't know why anybody would have a partnership in this day and age now before we go any further into the two types of entities that I actually use in my in my business world is that I'm not an attorney and I'm not an accountant so anything going forward is just my opinion is don't take it as legal advice or accounting advice always consult the experts always consult the people who are licensed to do that because you know that's what they went to school for and they should be able to advise you properly don't sit there and say Karl told me that this is the way that it is and that's the basis for why you you structure your business the way that that you structured it okay always consult experts so the third company type that want to talk about is an LLC now LLC's are more common nowadays than when I first started getting into business they didn't really use LLC's too often back in 1996 because they're more of a new company structure and what LLC stands for is limited liability company now these came to be to kind of provide an extra layer of protection for whoever the owners are or the operators are of this company and what I mean by protection is separation between the people who are running the company the assets and the company itself okay and what does that all mean well the best example I could give you is that when you're I guess driving around in your car right you are a liability right and the reason why you're a liability is because you could get into an accident you can hit somebody you can hit a car any little thing could happen right and once you've had this accident you're going to most likely get sued right anybody who's been in a car accident knows that that's the end result you're gonna get sued for the damages to the other vehicle it may be some medical bills right but in some cases it goes further than what your insurance covers and someone can now sue you for the things that you own your assets okay now your assets can be shares of a company it can be your real property your home your vehicles and all those sort of things and the limited liability company was created to kind of shelter from that exposure so what you tend to find is that people will use LLC's when they're creating funds when they're investing in some sort of asset class or if they want to protect their asset class right so when I'm using an LLC it's usually to either create a fund right well whether it's my solace fund for real estate investing or my opportunities own fund I always create my funds in the structure of an LLC once again to protect that capital to protect whatever assets we're gonna be investing in and then I also use LLC's to be the owner or holder of record for real estate so when I'm buying real estate I put the real estate into an LLC as well because I want that company to be the owner of Records so if I'm in a car accident and people are suing me and trying to get more than what my insurance will cover it doesn't expose my assets but it doesn't expose that real estate asset that I have and oftentimes your your lenders especially for investment properties will want you to have it in an LLC as well for the same exact reasons they don't want to risk that property going into litigation for something outside of the business and then their money that they've lent you is is exposed to that risk so you know that's kind of why the LLC came to be and why a lot of people use them what I've noticed is that some entrepreneurs just want to start LLC because it seems different and they don't quite understand the purpose of it so they'd rather be you know whatever my company name is LLC rather than I NC I you know that's actually a real thing that I've seen people make that decision and I don't get it now typically when you're forming an LLC in New York for instance you have to do what's called a publication for it to become I guess legal right so you you you form the entity with your Department of State right you register you fill out the paperwork for that and you pay for it and it's becomes a an official company registered with the state right then you have to do the publication which is literally running that you've created this entity in the classified section of major newspapers that are heavily circulated they have like a circulation minimum like it has to be ten thousand subscribers or more something along those lines and you hav
Thanks Joye your participation is very much appreciated
- Jackie Prator
About the author
I've studied ethnozoology at Texas A&M University-Texarkana in Texarkana and I am an expert in settlement archaeology. I usually feel gloomy. My previous job was government service executives I held this position for 11 years, I love talking about pottery and kite surfing. Huge fan of Jim Sturgess I practice cheerleading and collect autographs.
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