Elderly Parents Become Inspiration for Caregiving Solution
It’s a growing situation for many adults: caring for an elderly parent. Mark Tyrrell’s mother was diagnosed with cancer in early 1998. Within a year, his aunt and father had died. During this time, his sister quit her job to provide the necessary caregiving. Then all the legal communication issues further complicated the processes.
Mark wanted to create a solution and the opportunity came 12 years later when a project he was developing as an employee for Blue Cross was cancelled. “By that point, I had enough and wanted something new. Solving the caregiving problem became our goal,” says Mark Tyrrell, co-founder with wife Susan, of Premier Elder Solutions.
The initial concept began as a directory, but input from others, research and feedback, changed their business course several times. The hurdles they encountered included improving communication with family members and service providers, creating a repository for confidential material and working with service providers. “Educating those involved, gaining support from brokers and benefits companies and obtaining customers are the ongoing challenges we address each day.”
The first step was mentoring with the Enterprise Center of Johnson County, Kansas City SCORE, Health Wildcatters and the St. Louis Association of Health Underwriters. However, during their initial involvement, they discovered, “No one tells you how much it will cost. We’re bootstrapping our program and are already six-figures into it. Be prepared for it and double the cost of what you expect,” advises Mark.
With the help of his investor, a retired CEO in the healthcare industry, they are making headway. While financing his venture is a concern, they aren’t frightened by the process. Knowing the business is theirs, receiving positive feedback and support keeps Mark and Susan moving forward.
Their current goals are to seek partnerships that complement their mission. For others developing their business idea, Mark advises to get involved with mentorship programs and seek out several resources.
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Post provided by Kris Edens, a copywriting and blogging resource for small business. She resides in Festus, Missouri and enjoys networking, writing and the entrepreneurial community.