Here is another thoughtful blog post from Bob O’Toole, contributing author to Cathy Cress’s Handbook of Geriatric Care Management, Third Edition.
Rethinking the Private Geriatric Care Management Business: A 3 Part Series, Part 1 by Bob O’Toole
In recent years, numerous entrepreneurs have ‘discovered” the eldercare market, determined it was a veritable gold mine and developed various business models to mine the mother lode.
In their May 26th, 2011, issue, Wall Street Daily Research published an article that described the eldercare services industry as “The Big Business of America’s Graying Population.”
“The business of caring for the elderly  is growing, as Americans’ busy lives and distant locations make it tougher to take on the hands-on care often needed for loved ones.”
Some have been successful; many have failed, losing –collectively- millions of dollars in the process.
The biggest mistake these spectacular failures have made is to assume that the market for eldercare services, such as professional geriatric care management and private duty home care services is huge.