BUSINESS PLAN

Business Plan

Business Plan

Overview

Senior citizens are expected to make up 20 percent of the entire American population by 2030. Today, it is not easy to watch television, listen to radio and pick up a newspaper without hearing and reading about aging. The population of seniors is increasing rapidly, and Arizona is no exception (Barnes, 2008). According to Worden (2007), initially about 76 million Baby boomers started to turn 60 during 2006; thus, the state bound to increase aging effects in the state.

The high number of aging individuals in the city means that many business opportunities are available for people who serve this demographic (Barnes, 2008). Signature Health Services, LLC have that in mind and is opening Ageless Home Care to serve the growing need for specialized care for aging adults in Phoenix, Arizona.

Mission

“Is to be the leading provider of culturally sensitive and compassionate adult care in the community we serve.”

Vision

“All our residents will experience the safest, high quality, best-value services.”

Sources of Competitive Advantage

Signature Health Services, LLC has several sources of competitive advantage, such as they offer peace of mind, strives to obtain Joint Commission Accreditation by taking into consideration the best quality standards for health and care organization, offer RN (registered nurse) oversight for all clients, their service of care extend ahead of senior elder care that permits the organization to retain the client for a long time duration, and ensure caregiver competency to ensure quality care to elders.

Business Opportunity

Signature Health Services LLC five year expansion will include the opening of Ageless Adult care home in Phoenix, second home will be open in the Scottsdale area within three years and plan the construction of the third home between the growing cities of Mesa and Chandler. The business plan of expansion also includes the Medicare licensure to provide inpatient and respite care to hospice patients. Currently Medicare has a reimbursement of $500.00/day for an inpatient stay and $150.00/day for respite care. Signature Health Services will also contract with state funding agencies and private insurance companies to provide services to the aging population.

Ageless will offer semi-private rooms at a cost of $2,800 to 3.500/ per month per resident and private rooms at a cost of 4,300 to 5,200 per month per resident. All rooms will have access to cable television, internet, and telephone. Kitchen will be designed and equipped to accommodate the group of residents. The home will have an open policy and procedures for families to view before signing the contract. Signature Health Services understand challenges faced by the new aging population and will offer:

24 hour staff

Medication monitoring and dispensing

Recreational activity programs

Dementia and Alzheimer's care

Hospice, respite care and day care

Home cooked meals

Ageless Adult care will ensure that all American with Disability Act (ADA) guidelines are followed to accommodate residents with physical challenges. Leadership will attend social services meeting in the community to diffuse information regarding Ageless Adult Care services and set up a referral system among doctors, hospitals and other agencies providing care for the elderly (Barnes, ...