Business Plan For An Aged Care Home - Myassignmenthelp.Com

Question: Discuss about the Business Plan For An Aged Care Home. Answer: Introduction: Old Aged Care Home aims to provide elderly support for the people, who are more than 65 years. It provides them with 24 hours nursing and medical care wrapped in a friendly and calm environment for the long-term basis (Ettorchi-Tardy, Levifand and Michel 2012). The Aged Care Nurse Practitioner (ACNP) works in collaboration with the patients and their family members. The team of the extended health care professionals includes Allied Health Professionals, General Practitioners (GP, Pathologist, Specialist, Pharmacists, Aged Care Service providers and Community Nurse. The comprehensive episode of care encompasses, targeted assessment, requesting of the diagnosis, management/treatment care plans, coordinated/case management and recommendation followed by implementation to health the associated health goals, other risk management strategies, proper monitoring and education of the patient family. The ACNP also aims to restrict unnecessary hospital admission because of exacerbation of the health-related conditions, guidance for chronic condition management, evidence-based education related to optimal adherence of health management intervention, a comprehensive health assessment and aged care advocacy and planning. ACNP should also be held accountable for framing professional judgments lying within the scope of practice related to patient's condition and timely referral to the doctors at the time of emergency. Nurse Practitioner (NP) is also required to maintain individual professional and that too at an advanced level. The current assignment sheds light on a business plan that is required to develop an old aged care home in Australia with Brightwater nursing professionals. Discussion: The need of the primary health care initiative: One of the most important social determinants of health is aging. The aged people need more healthcare than the other people. The older people often live alone and longs for a companion whereas seeking medical services due to their condition. The number of elderly people in the country is increasing. The current population of Australia has 16.8% of elderly people, which has increased from the last year by almost 3%. The population of elder people in Australia is supposed to be double from today within the upcoming 15 years (Tricco et al 2012). With the increase in the population of the aged people, the numbers of chronic diseases are also increasing. The few of common chronic diseases which are affecting elderly people are cardiovascular diseases, diabetes, musculoskeletal disease, Chronic Obstructive Pulmonary Disorder (COPD), hypertension, gastrointestinal disorders and other associated psychological issues like dementia. Due to the increase in the older population and the advent of the new chronic diseases, the burdens over the healthcare sectors are also increasing. However, innovation of the health care technology has helped in increasing the longevity of older people (Oosterom-Calo et al. 2015). But in order to provide this advanced quality technology and to deal with addition challenges of extended life period of elderly people, the rate of hospitalization has also increased. Now here comes the role and the importance of the Nursing Professionals in elderly care and the effectiveness of the business plan. In Australia lower level of education is directly related to lower income, higher rate of smoking, and shorter life expectancy which are common in indigenous people. The neighborhoods of the aboriginals are unsafe and are exposed to garbage or litter, and have poor housing structure and along with vandalism. In addition, racial and ethnic minority communities are more likely to live in financially poor society. Such poor social determinants of health are affecting the life expectancy of the elderly people in Australia, mostly the aboriginals and this has further up-regulated the need for NP assisted Old age home. (Source: Created by author) With age, a person loses the ability to communicate independently and also needs physical assistance to perform daily activities. The NP here supports the person to express his or her thoughts and also guides them to perform the daily activity like going to washroom, taking baths, having meals etc. The elderly care people also needs emotional assistance and care along with spiritual support. It is the duty of the NP to make sure that the surrounding environment is favorable and fulfilling the patient's holistic needs leading to maximum level of mental and physical well-being, thereby increasing their lifespan (Oosterom-Calo et al. 2015). The facility of Old Age Care House provides focus on promoting the independence of the elderly in a safe and happy environment while aiming to be an alternative option for the elderly people as it will also provide them with housing and related assistance such as, housekeeping, preparation of quality meal and laundry for the people along with providing the residents with doctors, registered nurses and hospital level healthcare for the residents (Singh et al, 2012). Objectives: Financial objective: Fill all the rooms in the course of one year. Raising the funds to facilitate the service. To hire the competent doctors and skilled nurses to maintain the healthcare facility. To hire the caregivers and housekeeping services. To arrange all the needed medical equipment. To start the development of implementation of the financial needs for the upcoming 5 years. Non-financial objectives: Have a culturally competent nursing care plan in order to support nursing care for both the Aboriginal and Torres Strait Islander. Recruiting proper nurses who have desirable understanding about the sign language in order to give quality care to the dementia patients who fail to express their thoughts To provide the elderly with a safe, comfortable and homely environment. To provide the permanent residents with skilled medical care provided by the NPs. To provide the medical and non-medical staffs with adequate training and mentoring Holistic and targeted care Proper identification of the client with respect to the therapeutic goals. Proper prioritization of the goals and framing the actual timeline to attain the same. Proper incorporation of the other health care professionals in the team to provide holistic care. Other health care professionals include physiotherapist, speech therapist, geriatricians, dietician, podiatrist Proper selection of the evidence-based yet cost-effective therapeutic interventions in order to meet the health care goals for the elderly patients. Proper use of the protocols framed and sanctioned by the core client collaborators for health specific conditions like infection (urinary, wound and respiratory), proper management for wound healing, accidental fall prevention, relief from constipation, treatment for malnutrition and dehydration, medication management via using proper medical protocol, building and maintenance of rapport to generate trust with the patients, providing proper guidance to the primary cares with scheduled follow up for the visits Proper provision for a backup system for issues related with out of hours Mission: The main mission for the business plan for setting NP service for old care homes is To provide holistic care to the elderly patients and thereby increasing their wellbeing and quality of life To reduce the cost of the hospital admission via negating the chances of preliminary complications with NP assistance Increasing the well-being of the elderly patients and thus drawing more elderly people to the aged care home via word of mouth publicity Reducing the number of accidental falls and financial cost related to damage management and treatment. The NP will assist the elderly people in their daily activities and thus decreasing the chances of accidental injuries arising out of the sudden fall due to slippage of feet at the bathroom Proper spiritual and emotional backup to the elderly patients. The NP model would provide the patients with proper geriatric and psychiatric care. The older patients often face psychiatric problems like anxiety and stress. The nurse practitioners with proper psychiatric training would provide the resident with proper counseling schedule to deal with these problems. Market analysis strategy: The base number of residents: As the whole world is struggling with population, the population of Australia is aging because of the lower range of fertility and the increase of the gross life expectancy. Because of this, lower number of children and a higher number of the adults can be seen in the population. Between the years 1995 to 2015, the people aged 85 and above increased from 11.9% to 15%. The population between the ages under 15 has decreased from 21% to 18.8% (Abs.gov.au 2015). Pic: Comparison between the population based on sex and age for the year 1995-2015 (Abs.gov.au 2015) By considering the number of the current population of older adults, and keeping the number of the upper-income residents in mind, it can be estimated that Old age care house can complete their objective of finding the residents. An increase of estimated 20% in the number of customers in the next 5 years can be expected (Sivam, and Karuppannan 2015.) The residents looking for medical care in short stay: By looking at the demographic statistics of Australia in 2015, it can be estimated that there is an increase in the proportion of the Medicare patient who needs the post hospital care in an environment, which is actually an amalgamation between hospitals and home (Hansen, Mowen and Guan, 2007). The old age population who can afford the care is trying to avail this facility, as they want to leave the room at the hospital for them who really need it. To estimate the analysis, an income group of $30000 to $75000 is chosen, because this group can avail this facility. 1st year 2nd year 3rd year 4th year 5th year Potential customers Growth Estimated profit per year (Australian Dollar) Privately paying fulltime residents 1% 17000 18300 19200 20800 22000 Other 0% 0 0 0 0 0 Total 17000 18300 19200 20800 22000 Fig: Estimated profit calculated for five years The strategy used to segment the target market: The target population of this facility is the potential full-time residents who want to avail the full-fledged NP initiative medical facility of this old age care home (Govindarajan and Shank 2012). The overall target population is the aged people (65 and older) who need daily assistance and companionship and values community. As the Old age Care House wishes to be their home, they wish to find those potential residents who are willing to make the old age care house a home and stay happy with each other. Old age Care House understands the needs of the families of the residents who are the important part of the market. They are the one who will help the potential resident to make a decision to choose their home and contribute a part of the necessary payment to give the basic care for the resident (Slater and Olson, 2015). Market trends: As it can be seen in the market analysis, population over 85 are in a rapid growth, thanks to the preventive health care, better living condition, and better nutrition. However, the number of nurses is decreasing rapidly because of the increase in the career opportunities among women (Cooper and Slagmulder 2014). As the women break the norm of staying home and take care of the family, there is nobody at home to take care of the elders at home. This market condition makes the Old age Care homes to catch a big portion of the overall position in the old age healthcare market (Doole and Lowe 2014). Service providers: There are many reasons for the families to seek medical care for the elderly in a semi-clinical environment. They normally seek medical care for the patient with Diabetes, Hypertension, heart disease, Alzheimers, AIDS and dementia. The Old age Care House provides all services to the elderly people (Jain, and Haley 2012). Continuous quality improvement plan of the Old age care home: CQI or continuous quality improvement is an approach to the quality management, which is based on the principle that states most of the things can be improved. Old age care home believes in building and maintaining the quality, which exceeds the expectation of the customers. As the CQI concept says, most problems are associated with the process, Old age Care House believes in the improvement of the processes, rather than blaming the people (Blocher, Chen, and Lin 2012). To improve the quality of care, the management has formed a team to provide quality care giving. The team also has a clear picture of the aim of the institution (Baker 2014). To improve the whole system of care there must be a Plan-Do-Study-Act (PDSA) plan. The first step of the PDSA plan is planning, in which the team will plan the entire infrastructure similar to home. The second step is intervention. The third step is to study the results and the fourth step is to act according with the knowledge. This will enable the management team to maintain and modify the whole plan (Fifield 2013). Old age Care House must have a different management structure than a typical hospital or an old age care home, to improve the overall quality of caregiving. The residential wing will have two registered NPs as primary caregivers who will work as a self-management team as they will meet with the medical directors and will coordinate with the other nurses (Aljumah, Ahamad, and Siddiqui 2013). The two Brightwater NPs with a personal framework will be there for guiding the patients and the staffs of old age care house with better timeliness. The presence of the two NPs in the care will reduce the workload of the GPs (General practitioners). The NPs will have a plan to treat the elders with substance abuse as they plan to contribute the reduction of antipsychotics by providing them with proper care and guidance. The NPs will also develop the framework to reduce the abuse of antibiotics between the residents of the aged care facility. Old age care house believes in the Brightwater NP model as the NPs also holds the rights to prescribe and re-prescribe the medicines if necessary. There are many elders who suffer from the problem of polypharmacy (taking more medicines than necessary), which is potentially harmful. The full-time NPs are there in the residential old age care to take care of this problem. The two NPs will have the primary responsibility for the health of all the full-time residents and the Medicare patients. The NPs are expected to discuss and recommend the medical course with the patients and the other nursing staff to give the ultimate care (Morgan, Katsikeas, and Vorhies 2012). As the NPs are there in the old age care house for full time, the governing body expects that the inappropriate transfer of the patients from the care house will also get reduced. The NPS will be able to diagnose the problem and manage the situation rapidly. The NPs will be able to fill up the process instantly if the GPs are not available there. Old age care house encourages the collaborative care between the NPs and the GPs. Old age Care House must have a competent PR team who helps the home to do right kind of advertisement and brochures and plan the events. The amazing work of the PR team will enable the common people see the results of the combined effort of the team (Eden and Ackermann 2013). Estimated Budget: Estimated budget to cover the start-up expenses: The computer is a much-needed part of any Medicare system. The residential wing also needs a computer for the keeping the expense records of the full-time residents (Briner, Manser, and Kessler 2013). The short-term assets include the disposable medical supply, smaller medical equipment, laundry expense and bedding. These assets would need to be replaced within five years (Hull 2012). The long-term assets include maintenance of the house where old age care home should be built. The long-term medical equipment includes 2 loaded crash carts, call button system for every bed of both wings, full monitoring equipment and all the standard monitoring equipment (stethoscope, sphygmomanometer, blood sugar testing equipment). The residential area needs beds, linens, dresser, phones, couches, tables, chairs, TVs and furnishing (Hollensen 2015). Legal 500 AUD Stationary (all) 200 AUD Furniture (all) 12000 AUD Computer-1 6000 AUD Insurance 8000 AUD Expensed medical equipment- 13000 AUD Residential equipment 22000 AUD Staff training 5000 AUD TOTAL START-UP EXPENSES 66700 AUD Fig: Start-up expenses (yearly) Cash required 78000 AUD Inventory 6000 AUD Current assets 35000 AUD Long-term assets 800000 AUD Total asset 848800 AUD Total requirements 929500 AUD Fig: Total requirements to start the old age care house The estimated budget for hiring competent medical and non-medical staffs within a timeframe: Old age care house believes in providing the personnel with fair wages to ensure that the permanent residents get the best possible care. The healthcare personnel will get the health benefits, paid vacation and sick leaves. To meet the goal, the home needs 2 NPs, 3 LPNs (alternate) and 12 trained nurses, along with 8 full-time elder assistants (with first aid training and CPR training, currently undergoing the elder care training) (Blank, S. 2013). Personnel plan (medical) Year 1 (AUD) Year 2 (AUD) Year 3 (AUD) RN-2 220000 221000 222000 LPN-3 140000 141500 142000 Trained Nurses-12 144000 145000 147000 Caretaking personnel-8 221520 223000 255000 Subtotal- 725520 730500 766000 Fig: List of estimated cost for three years (Medical personnel) The enablers and barriers in the way to implement the business plan: Enablers: Availability of sufficient budget to run the old age care home. The management personnel should have good managerial skill. All the medical staffs should be skilled. The NPs and all members of the nursing staff should have a good organizational skill (Suttanon et al. 2013). The chief nursing staff and the medical officer should have leadership skill to organize the care. Communication between the residents, NPs and the nursing staff and the management should be good. Barriers: Bad Public relation management. Lack of leadership skill of the managers and the chief nursing staff. Only the higher income group availing the facility. Bad implementation of plans (McKeever 2016). PESTEL Analysis Political Factors An Old Age care home has an opportunity to expand its business based on the improved quality care to the elderly people which will increase the overall quality of life of the elderly people. Old age care home also has the opportunity to reform the practices in order to reduce the impact of taxation of quality elderly care without violating the medical laws. In the aspect of the PESTEL analysis, the old age care home, the political external factors present various opportunities that outweigh the associated threats. Economic Factors The Old Gage care home with trained NP has opportunity to expand profusely in the present Australian environment where the number of the elderly people is increasing massively. The increase in the tendency of the households with working couples to admit their elder family members under the supervision of the trained NP will further back the economic growth of the Old Age home. Social Factors Based on the social factors, the Old Age home has several opportunities to grow and expand because the main target customers in this business are elderly people. The increase in the number of elderly population is a global issue nowadays with a special mention to the elderly population in Australia. In atmosphere of the contemporary society, a huge increase in the number of people who are more than 60 years old is becoming a great threat to the overall global population of Australia casting a huge impact on the international health care system. It has been estimated that the total number of people, who are aged more than 60 years have approached approximately 605 million (Monroe et al. 2015). Thus the society is aging fast and this fast-aging society will increase the number of the prospective clients for the old age care home facilitate by the nursing care representatives. The number of centenarians is expected to grow fifteen-fold from approximately one hundred and forty five thous and by the year 2050 (Tremont and Davis 2014) thus giving an indication of the prospective increase in the business. Technological Factors Technology in the medical science is ever expanding with superior advancement in the field of quality care to the medical patient. The foundation of the life saving medicines in the domain of chronic elderly illness and psychotic drugs for curing dementia and other mental disorders have also increased the life expectancy of the elderly people and hence leading to increasing in the prosperity of the elderly care unit under the supervision of the nursing practitioner. Environmental Factors There are no significant environmental factors over affecting the business of the old age care homes guided by the NP. However, sudden appearance of the natural calamity may increase suffering and the number of casualty threat for the old age homes. In such natural calamities, there is an increase in the number of the patients in the nursing home or in the trauma centers for traumatic care. However, due to the rush of the patients, lack of adequate power supply and adequate manpower, the hospitals fail to assist the elderly patients. The old age care homes aim to serve elderly people during this crisis situation thus increasing the prosperity of the business. Legal Factors Old Age care home can face complications in terms of wages to the NP leading to certain legal complications. The care giving home must supplement these low wage complications via increasing the job satisfaction among the nurses and providing them quality environment to work. Conclusion: Old age Care House runs with a goal of providing the residents with respectful and holistic assisted living and skilled medical facility. The primary location of the organization will be in Australia. The NPs and the support nursing staff are of competent. The elder caregiving staffs are also competent. They have undergone a training to care for the elderly apart from having the first aids care training. Old age Care House has two wings; one is the permanent residential wing, which comprises of the people who permanently reside there. 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