Home Care Entrepreneur Sees ‘Warp Speed’ Disruption as Opportunity
There’s a new entrant on the home care field, and he’s looking forward to making an impact in the “dog eat dog” state of New Jersey. Care Assist, a home care company specializing in stroke and dementia care, recently opened its doors in Union, New Jersey, to serve the private pay market.
Care Assist’s founder and CEO Stephan Lowy spoke with Home Health Care News about his new business and why the changing health care landscape presents an exciting opportunity.
Jumping Into Disruption
“The health care continuum is constantly changing with technology and regulations,” Lowy told HHCN. “Everything is affecting all levels of care. It’s disruptive diversification, as I call it. The advances that are going on, it’s going at warp speed.”
However, Lowy doesn’t see these changes as a challenge. In fact, he views the current shifts as a significant opportunity to jump into the market with the launch of his home care company.
“There’s a real opportunity here,” he said. “The space is very disruptive right now. To me, that makes it a perfect time to come in, because we can show people how to do it the right way and be a model.”
In terms of the business side of health care, Lowy’s background as an entrepreneur is well-suited for the health care space. However, being focused on the care is more important than building an enormous brand, he said.
“Its no different than any other business I have started,” Lowy said. “It’s about caring—it’s not rocket science! We’re here to help people. I think if more people thought that way, they would be a lot better off.”
CareAssist opened its door April 1 with 50 certified home health aides and 20 nurses to serve the private pay market—no small feat considering industry concerns over staffing shortages, wage pressures and high turnover rates.
“There’s a shortage of nurses,” Lowy said. “You can’t train them quick enough, as far as I’m concerned.”
However, Lowy has tapped a niche workforce that is helping dictate his future growth plans. After partnering with a nursing home with roots in the Filipino community, CareAssist has found an eager and qualified workforce.
“They have the drive and understanding and soul to do this business right,” Lowy said.
The workforce is also helping frame the company’s next expansion. The company is considering opening up a location in Florida “within the next six to eight months,” according to Lowy.
“It’s not so much based on the state,” he said. “It’s based upon my labor pool—where I can get qualified labor to do this. I can’t give the right service if I don’t have the right people.”
With a qualified workforce and a private pay market in New Jersey, Lowy is bullish on the space amid major health care transitions.
“There’s no better time to live as a human being on this planet than right now, in terms of quality of life,” Lowy said. “We’re living longer and stronger. To be part of this space is exciting.”
Written by Amy Baxter