Racquel Ricci and her husband, Raemon Gurule, began a home health care provider service in Albuquerque, New Mexico in 2011 as they saw the need for credited and responsible home health care was in demand. We decided to speak on Wednesday due to statements issued by the Bank of Mexico on Wednesday and reported to CoinDesk.
Racquel, who is a Psychology major from the University of New Mexico at Albuquerque, came in contact with services that provided referrals to home health care givers. She runs the family owned business from an office in Albuquerque which now has nine locations of service in New Mexico and a second office in Santé Fe. They will be opening an office in Phoenix, Arizona this month and already provide service in Flagstaff, Ariz.
Raemon, a math major, from the UNM is the CFO of the company and became aware of Bitcoin as a source of payment at a very reasonable low fee. Racquel was able to spend some time with me on the phone to provide an interview on how this home health care service is rapidly growing and the role Bitcoin plays in the ease of payment for their clients while making running the business cost efficient.
When Racquel spoke with me on Wednesday she noticed that a judge in Chicago had frozen the US-based assets of Mark Karpeles, the CEO of the now bankrupt Mt.Gox exchange in Tokyo. She was up on the latest information pieces and Bitcoin pricing from CoinDesk.
The Bank of Mexico on Wednesday issued a statement of warning regarding caution in use of Bitcoin, reported also on CoinDesk and we discussed the need for attention to the exchange that a business owner uses.
Q: Let’s start with your business services and client base so our readers can understand the range of services provided and how your website provides information that includes how to pay in Bitcoin.
Racquel: We provide in home health care at client’s homes. Out staff ranges from home health aides trained for basic assistance to skilled staff such as registered nurses, occupational, physical and speech therapist. Many of our clients are private pay and often times their family assist them with funding. Most often the families of our clients live out of state or sometimes out of the country. Bitcoin allows them to pay bills quickly and if they are out of the country there are no exchange rates or other fees to deal with in the process.
We have on our website, www.micasahomehealth.com , an icon that states: Pay with Bitcoin.
Currently, we have 70 staff members assisting 40 clients this month. Some are ongoing and some require home care due to recuperating from surgery on a limited time arrangement.
New clients find us mostly through word of mouth which is great to have good references. We feel that we can provide a service in a growing industry that needs home health care and we feel good about doing it. It was a little scary at first to begin the business but it is very exciting.
Q: Let’s talk about your introduction to Bitcoin and how the process helps your growing business.
Racquel: My husband, the math major, is very good at financial details. He began to review our cost of fees in providing credit card processing. Various insurances provide for about half of our clients. The other half need to pay from their own resources and this is when family becomes important.
First, when we use credit cards for that transaction, it can be entered on our website from the payer of an invoice. It is costly at about 3-4% of the transaction amount. My husband began to research payment options. Now, when a payer of an invoice wants to remit a payment they can go to our website, enter their email address and dollar amount of payment and click submit. After that they go to a screen that has a payment address that they can copy and paste into their wallets to send the funds. Alternatively a QR code is given for the people that have a wallet connected to a QR scanner. Most smartphones have that ability now.
Mi Casa Home Health Care uses Coinbase. When a payment processes Coinbase, initiates a deposit into your banking account. We only have one administration office based here in Albuquerque that handles all billing and payments.
Q: How has the recording and payment to accounting records been to facilitate ease of use?
Racquel: Recording of payments is very simple; our accounting system has payer’s email addresses and invoices. Payments go to the oldest open invoice unless otherwise specified. It is very similar to receiving a wire to pay for service. But the client or family members making the payment, especially out of state or country have little expense compared to a wire fee.
Tomorrow we will have Part two of the interview with Raquel Ricci of Mi Casa Home Health Care and find out more about the advantages of Bitcoin for the small to medium size business owner.
To find out about Bitcoin advantages see the video atop this article from WSJ, Simon Constable, and his interview with international crypto-currency expert, David Birch on why Bitcoin is becoming so popular for business owners around the world.
Twitter: Victoria Wagner@victoriaross888