Executive Summary
The present business proposal develops an argument in favor of founding a geriatric nursing clinic in Florida. Today, with the total population of 21.3 million, the state of Florida comes second only to main in terms of the number of residents aged over 65 (Population Reference Bureau, 2020). Every fifth (20.5%) Florida resident is a senior citizen, and given the increasing life expectancy, this demographic is becoming especially vulnerable to age-related diseases (Population Reference Bureau, 2020). For instance, cardiovascular disease is the leading cause of mortality and morbidity worldwide, the United States included. Nurses are on the frontier of preventative care, and their rising education levels make them apt for adopting more specialized roles in fields like gerontology. A nursing geriatric clinic will have a special focus on aging and preventing disease, which will improve senior citizensâ and their close onesâ quality of life.
Business Description
The geriatric nursing clinic will provide services pertinent to age-associated diseases. One of the strong points of the clinic is its holistic approach to cardiovascular health and prevention and treatment of conditions, such as hypertension and coronary artery disease. The facility offers chest X-rays, electrocardiograms (ECG), echocardiograms as well as consultations regarding exercise and dieting that will help patients with necessary lifestyle modifications. Cerebrovascular diseases, especially strokes, are also common among elderly citizens, which is why the clinic emphasizes the importance of timely magnetic resonance imaging (MRI) and computer tomography (CT) studies. Moreover, stroke patients will be able to access extensive rehabilitative services, including speech therapy and physical therapy. As per the Centersâ for Disease Control and Prevention (2020) estimations, every fifth adult over the age of 55 has mental health concerns. For this reason, the clinic offers psychological therapy for individuals, couples, and whole families as well as support groups. It is in plans to hire nursing practitioners experienced in managing dementia too.
Marketing
Many patients look up health information online, including providers in their area. The nursing geriatric clinic will use the high rate of Internet penetration in the United States to its advantage. Kemp, Bui, Krishen, Homer, and LaTour (2017) write that healthcare facilities often show doctors in scrubs and sophisticated machinery in their advertisements. However, as their research demonstrated, these displays of resourcefulness are not enough to make a medical facility stand out amid growing competition. What makes clients more engagement is emotional appeals, especially to hope and empathy (Kemp et al., 2017). Therefore, the clinic will run advertising campaigns that will depict stories of hope and focus on family-based interventions. Such messages will benefit the personal brand and help to build rapport with patients.
Competition
The clinic will not face serious competition because it will fill in a rather neglected niche. According to Flaherty and Batters (2019), only 5% of US healthcare professionals are licensed geriatricians. Four percent of social workers, 2.6% of advanced practice registered nurses (APRNs), and less than1% of RNs, PAs are trained enough to serve aging populations. The clinicâs services will be especially on demand in Florida where people over 65 years old constitute one-fifth of the population.
Financial Aspects
As a new medical facility, the geriatric nursing clinic will consider diversified financing options. Firstly, it could be the PPP model (public-private partnership) which will include making an arrangement between the government and the private healthcare party to provide citizens with public services. Another option is ABS financing (asset-based security) collateralized by loans, leases, credit card debt, royalties, or receivables. Lastly, the clinic intends to seek investors who are interested in healthcare.
References
Centersâ for Disease Control and Prevention. (2020). Mental health and aging in America. Web.
Flaherty, E., & Bartels, S. J. (2019). Addressing the communityâbased geriatric healthcare workforce shortage by leveraging the potential of interprofessional teams. Journal of the American Geriatrics Society, 67(S2), S400-S408.
Kemp, E., Bui, M., Krishen, A., Homer, P. M., & LaTour, M. S. (2017). Understanding the power of hope and empathy in healthcare marketing. Journal of Consumer Marketing, 34(2), 85-95.
Population Reference Bureau. (2020). Which U.S. states have the oldest populations? Web.