University Business Plan: Aged Care Home with NP Services

This business plan details the establishment of an aged care home in Australia, focusing on providing comprehensive care for the elderly through nurse practitioner (NP) services. The plan addresses the increasing need for aged care due to the growing elderly population and the rise of chronic diseases. It outlines the home's mission to offer a safe and supportive environment with 24-hour nursing and medical care, emphasizing the importance of NPs in managing chronic conditions, preventing hospitalizations, and promoting patient well-being. The report includes a market analysis, financial objectives, and non-financial objectives. It also covers strategies for segmenting the target market, financial projections, and the enablers and barriers to implementing the plan. The plan highlights the importance of culturally competent care, holistic patient support, and the integration of various healthcare professionals to meet the diverse needs of the elderly residents.

Running head: BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
Business plan for an aged care home with NP services
Name of the student:
Name of the University:
Author note:

1BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
Executive summary:
Old age Care House has provides the elderly people a perfect substitute for their home,
which will further provide them physical and mental support and will satisfy their health care
needs. Old age care house is growing popular in Australia due to increase in the number of
elderly residents. With nurse practitioner (NP)-centered caregiving the model such old aged
care homes are bound to give quality care to the elderly patients. Here the residents will be
getting the support from skilled Brightwater NPs, competent nursing staffs and the elder care
people for the residents. The management system will follow the Brightwater NP model to
provide competent care to resident with various chronic diseases. The main focus of the NPs
is to take care of the elderly with the problem of polypharmacy. However there are certain
barriers in implanting the plan which include lack of PR, funding and high cost affordability.

2BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
Table of Contents
Introduction:...............................................................................................................................5
Discussion:.................................................................................................................................5
The need of the primary health care initiative:......................................................................5
Objectives:..............................................................................................................................6
Financial objective:............................................................................................................6
Non-financial objectives:...................................................................................................7
Mission:..................................................................................................................................7
Market analysis strategy:........................................................................................................7
Base number of residents:..................................................................................................7
The residents looking for medical care in short stay:........................................................8
Strategy used to segment the target market:....................................................................10
Market trends:..................................................................................................................10
Service providers:.............................................................................................................11
Continuous quality improvement plan of the Old age care home:.......................................11
Estimated Budget:................................................................................................................12
Estimated budget to cover the start-up expenses:............................................................12

3BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
Estimated budget for hiring competent medical and non-medical staffs within a
timeframe:........................................................................................................................14
The enablers and barriers in the way to implement the business plan:................................15
Enablers:...........................................................................................................................15
Barriers:............................................................................................................................15
Conclusion:..............................................................................................................................16

4BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
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.

5BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
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

6BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
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,

7BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
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

8BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
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

9BUSINESS PLAN FOR AN AGED CARE HOME WITH NP SERVICES
 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).

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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
1% 17000 18300 19200 20800 22000

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residents
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).