Starting Inpatient and Outpatient Geriatric Psychiatry Services - Business Plan

This presentation outlines a business plan for starting both inpatient and outpatient geriatric psychiatry services, including a multidisciplinary team of professionals, psychopharmacology, psychotherapy, and after-care planning. The program aims to address the shortage of practitioners skilled in treating elderly patients with behavioral disorders, reduce mortality rates, and curtail the cost of nursing home admissions. The presentation includes a SWOT analysis, market analysis, operational development and timeline, organizational plan, marketing plan, and financial plan.

Nursing Finance

Business plan Description
• The program aims at starting both inpatient and outpatient geriatric
psychiatry service area.
• The outpatient geriatric psychiatry (OGP) clinic will be a home to
multidisciplinary team of devoted professionals
• The inpatient care will include psych pharmacotherapy, group and
individual psychotherapy including music therapy, drama therapy, and
art therapy; ECT as well as after-care planning.

Mission and Vision Connection
• The mission is to reduce mortality rates and this in line with the
program as it seeks to ensure the shortage of practitioners is
addressed to offer quality and effective services to these group.
• The vision is to ensure that many young adults hit elderly age through
effective treatment of mental disorders.
• The vision is line with the program as it will help curtail the death rate
from such disorders.

SWOT analysis
• Strength: Competent and skilled healthcare professionals
• Weaknesses: Huge funds need for training more practitioners
• Opportunity: Possibility of training more professionals

Market Analysis
• There has been an explosion in the number of older adults with
behavioral disorders.
• The extreme shortage of healthcare professionals skilled in elderly
with behavioral illness treatment is facing the country.
• Moreover, dementia patients account for ten-thirty percent of nursing
home admission at a cost of close to $100 billion per year.
• Additionally, with an increase in elderly cohorts, more individuals will
have an opportunity to develop late-onset psychiatric illness, usually
linked with underlying medical/neurological illness.

Operational Development and
Timeline:
• The outpatient geriatric psychiatry clinic will be providing the patients
with multidisciplinary team of devoted professionals.
• It will offer the patients with comprehensive neuropsychiatric
assessments, with psychopharmacology, Electroconvulsive Therapy
and support group.
• The medical services provided by outpatient geriatric psychiatry clinic
has the potential of serving eight psychiatric patients during the
weekdays.
• During the first six months of the operations two practicing nurse, two
medical assistants would be running the entire program.

Organizational plan:
• The administrative requirements of the geriatric psychiatry would be
fall under the specialty management.
• The administrative requirements of the geriatric psychiatry program
and medical assistant would be falling under the department
manager.
• There will be centralized scheduling team that would be responsible
for receiving the call of the patients for scheduling them for the
patients for appointment with the practicing doctor to treat the
patients.

Marketing plan:
• Staff members that would be using the equipment’s are the geriatric
psychiatry practicing doctor and their medical assistant.
• The segment of the market that geriatric psychiatry program
anticipates to capture is the patients that are having the ongoing
symptoms of mental disorder or mental illness.
• Considering on the marketing strategies side an advertisement in the
newspaper would be placed in the company newsletter to create
awareness among the people.

Financial plan:
• Patients with behavioural disorder would cost around $12,000 for
initial treatment.
• A cost analysis relating to the mental disorder is yet to be published
however it has been estimated a patient would be required to pay
$30,000.
• The cost associated with this treatment includes the initial period
treatment of three months and six office visit charges during that time