Care home group moves into diabetes market
LONDON: A care home group is reinventing itself by growing a presence in the burgeoning diabetes market.
The medical tourism sector is the fastest growing healthcare market worldwide.
The Healthcare sector and the hotel industry are competing for ‘control of the market.’
The MBA (Seniors Housing and Care Trends) will focus on this business model as one of 30 study electives.
Other electives include:
1. The pell-mell rush into home care is not going to save nursing/care homes.
The servicing of people in their homes needs a broader base than a medical focus.
This MBA study is writing the business model that will form the basis of a new worldwide highly profitable brand.
2. The second project is the re-crafting of the care home business model to build bigger margins and profitability.
New modelling shows that despite the payment of a living wage and higher care costs driven by the regulators, dramatically improved margins are achievable via a raft of measures including;
a) The use of technology to create the ability to lower overnight staff costs and achieve a lift in supervisory standards.
b) The outsourcing of diversional activities/transportation.
c) Contracting all nursing care to community nursing pods (already on trial in two countries)
The research will have a major bottom line impact without disturbing delivery excellence.
3. The third study reports on all the entry points into the medical tourism markets for care home operators. They are identified and analysed…..
4. A study is looking at ways to enhance the service culture; refocus and repurpose staff; develop a methodology to retain quality employees; obviate staff churn and develop better people cultures.
5. Recrafting the volunteerism culture to underpin the recreation of a community esprit de corps, supplement paid staffing-specialists and redefining place making.
6. How to use insurance policies to fund care homes
Care homes can be funded by the astute use of insurance policies which allow care home managers to wean themselves off a dependency on council begging.