Essay Example on Nursing Care Home

Introduction

The nursing home market comprises of the sales occurring in health care and nursing care through delivering goods and services. This market consists of sole traders, organizations, and partnerships, which provide residential bases nursing care and home health care. The services that these industries offer include counseling services, vocational therapies, rest home services, nutritional services, and health care services. The nursing care industry has grown considerably, reaching up to almost 860 billion USD by 2018, with a compound annual rate of growth of not less than 6% by 2014 (Roberts et al. 2016).

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Jasper Gardens home care facility

Jasper Gardens is a privately owned health care facility. Jasper Gardens is owned by LLC and Jefferson partners, making it a partnership. It has inpatient and outpatient rehabilitation services on the grounds of Jasper Gardens. This facility accepts Medicaid, Medicare, and all the other insurance plans (Hueter & Quandt, 2019).

Strengths and weakness of Jasper Gardens

Jasper Gardens is situated in a prime land because the facility is next to a highway that has been newly approved. The suburban environment around Jasper Gardens gives it the potential for growth and development. Jasper Gardens is certified by Medicaid and Medicare adequately to provide professional nursing services to those in need, as well as its 110 inpatient residents (Roberts et al. 2016). This facility has very dedicated staff making it be declared a deficiency-free facility. The facility is top in its servic3es and therefore recognized as a regional leader by empowering residents and creating an environment equivalent to a home. Jasper Gardens has additionally demonstrated commitment to residents' choices, independence, and well-being as vital in keeping the residents happy and their families too.

Jasper Gardens does not, however, operate at a high-profit margin; it struggles a lot to stabilize a slim profit margin. Minimal Medicaid reimbursement has caused staff wages to go low. Therefore, staff is forced to function often in more than one role, which affects their productivity since specialization is not adhered to. These multiple roles that the personnel have to play lead to declined quality of service delivery, and this is a kind of a setback; these various roles, therefore, affect the workers' general job effectiveness because, in most cases, they are overstretched. In conclusion, staff concern is a significant weakness for Jasper Gardens.

Jasper Gardens has the upper hand in opportunities that exist in the locality that need to be explored. This is located in an important strategic place since there's a highway that is under construction (Hueter & Quandt, 2019). Once the building is completed, many individuals will be more attracted to it. Capital city VNA, in collaboration with hospice, came up with a proposal on the planned provision of private rooms for inpatient care, which could lower the cost for Jasper Gardens, thus earning additional revenue. On the other hand, for the financial year, 2019 CMS had planned to reimburse inpatient hospice care at USD 758.707 daily (Roberts et al. 2016). So, when negotiating a subcontractor rate of around 33.3%, along with 75 USD, which is the daily service revenue, then the monthly income per patient is approximately USD 9830. So, Jasper Gardens has the potential to break even in 16 months (Roberts et al. 2016).

Jasper Gardens, opportunities also exist with their plan to sell land to Mountain View recovery. This is a very promising proposal; however, this kind of stoke sale is hazardous for the company. Mountain View recovery should buy the land outright to reduce risks to Jasper Gardens. Mountain View recovery should be presented with a purchase price of the sale of 15-20 acres with a chance to buy support service when the land deal has closed.

However, as many opportunities have Jasper Gardens may be having, they are multiple threats. Jasper Gardens, the threat seems to be average employee wage and inconsistency in handling personnel matters and the new competition when the long way is completed (Roberts et al. 2016). The employee wage on average has gone down from approximately USD 37,000 in the year 2016 to USD 32,000 in the year 2019, which is a 14% decline in average salary. The drop in salary will attract fewer employees in the future (Roberts et al. 2016).

At Jasper Gardens, the administrator handles everything to do with staff. And this does is not a good practice with human resources since there should be someone to handle such issues. A human resource professional should be hired since there are several requirements of the law that an administrator cannot feel right. If human resource personnel is hired, he will be able to handle administrative roles and come up with an inclusive personnel manual that would stabilize the precarious relations with the employees.

Also, with the highway underway, there comes a threat of external completion since business people will be attracted to the location. Jasper Gardens needs to diversify the services they offer if they want to remain competitive (Hueter & Quandt, 2019).

Market Analysis 2

Jasper Gardens has proposed to start a Dementia management wing, which is a good idea since no other facility around offers the services (Hueter & Quandt, 2019). This will attract more clients to the facility. A product development strategy is applied can create this fantastic new market. Research shows that Jasper locality has a high population, thus an excellent business opportunity. Memory care services also have the potential of going high in the coming years. Over the past few years, working capital seemed to be improving.'

Market analysis 1

It is difficult to recommend the idea of coming up with a retirement home because there is an adjacent locale, two organizations are planning to open such a facility too. After interpreting the financial data of Jasper Gardens, it is not possible for the plan to work, given that their profit margin is low. As of 2019, Hillsboro town had 16% of Medicare-eligible citizens. Therefore, Jasper Gardens has 11.4% eligible people for homecare (Hueter & Quandt, 2019). And this shows that this population will boost Jasper Garden in the coming years if they worked smart.

Financial analysis

Jasper Gardens utilizes well fiscal responsibility. All the profit martin, returns on assets and equity have been positive for the last two years. Fixed asset turnover ratio has gone down from 10% to 7.2% (Hueter & Quandt, 2019).

Recommendations

Jasper Gardens should reconsider tailoring its services since they are now exposed to external competition by finding ways to increase the wages of their staff and to do job specialization. The two aspects will improve their service delivery and thus make the institution more attractive to customers, which will, in turn, increase the profit margin.

References

Hueter, G. J., & Quandt, S. C. (2019). U.S. Patent No. 10,290,039. Washington, DC: U.S. Patent and Trademark Office.https://patents.google.com/patent/US10290039B2/en

Roberts, J. P., Fisher, T. R., Trowbridge, M. J., & Bent, C. (2016, March). A design thinking framework for healthcare management and innovation. In Healthcare (Vol. 4, No. 1, pp. 11-14). Elsevier.https://www.sciencedirect.com/science/article/pii/S221307641500113X