Setting up a Chain of Old Age Care Homes

Question: Describe about the Setting up a Chain of Old Age Care Homes. Answer: Introduction: The aged person in any community needs special care and attention. This is a period of life when any people faces problem regarding health, mental support. There are many homes set up for aged persons who need care. These aged care homes provides the elderly peoples with daily cares like laundry services, meal, nursing care and personal cares like dressing, catheter, wound care. These homes are approved by the Australian Government (Feil ,2014). The report is based on the probable forecasting of the business of a group of investors who wants to set up a chain of elderly care homes in two Government areas of the country Australia. The probable prospect of the business of the firm based on current and past year data are being studied in the report. Materials and methods: A number of variables effect the growth of business of aged care homes. To set up aged care homes in some Government locations across Australia, one needs to determine the factors that govern the need of aged care homes (Katz Monk, 2014). First of all aged care homes should be set up in those places where there will be adequate number of aged persons who needs special care. Secondly, the aged persons should have enough money to pay the fees of the homes. These two are the primary variables affecting the growth of business of old age care homes (Brownie Nancarrow, 2013). The aged care homes needs to be evenly distributed all over the country. The aged care homes are to be set up by the company in places where there will be no other such homes in nearby location(Deary et al., 2012). There should be adequate supply of nursing staff and other staffs who are supposed to deliver their services in aged care homes (Falk et al., 2013). These are the other factors that effects the business of old aged care homes. One can choose between overseas staff if local staffs are not available. But choosing overseas staff will lead to higher cost to provide accommodation for them (Taylor Payer, 2016).In order to set up a chain of old age care homes, there should be space available for setting up these homes. The data has to be collected on the following variables: The number of old aged people living in the Government areas. The financial condition of the old aged people. The number of people available who actively need jobs and can serve in the old aged homes. Results: The data obtained is analyzed with the help of regression analysis. The significant values of the regression coefficients explain that the variables significantly affect the business. A regression analysis is carried out by taking number of people in age group above 70 in different regions like major cities, internal regions as dependent variables and other factors affecting the study as independent variables. In the regression analysis, the value of the coefficients of Government organizations, religious and charitable organizations and profit organizations are high. The value of regression coefficient of charitable and religious old age is highest. Figure: The number of residential and home care centre. Source: Created by author. The above graph gives an idea about the number of residential care homes and aged care homes in 7 major regions of the country over the years 2012-2015.The seven major regions are New South Wales, Victoria, Queensland, Western Australia, Southern Australia, Tasmania, Queensland and NT. The two local Government areas in Victoria chosen for the purpose are City of Melbourne and Port Philip. Melbourne city has the highest population among all other regions. The population figure is 3,707,530.The number of unemployed people is 4330. The cumulative income of people is 62340 which indicates the people has enough fund to pay for these homes. Figure: Residential population growth by age. Source: (melbourne.vic.gov.au. , 2015) The graph shows the growth of population in the Melbourne city. The graph shows there will be an increase in the population of old aged homes. The number of people living in the Port Philip region is 91373. This region also has a growing population. So this region is also chosen as a place for setting up old age care homes (Knightley Crawford, 2013).The cumulative income of the people of Port Philip is also good. The total figure is 63992. This suggests that the old aged people has enough financial condition to pay for the homes. Discussions: The data from Australian Institute of Health and Welfare reveals that the number of aged care homes is very high in places like Victoria, Queensland and New South Wales. The places of Western Australia, Tasmania has very few of these homes. The Government region of Victoria are taken. In these places lot of people require old age care facilities. The cohort of people who were born after the Second World War is now attaining the age 70. The forecast figures suggest that these peoples need aged care. So there is a demand for aged care homes in the present days. Recommendations: The report suggests that majority of the elderly people prefer the religious and charitable organizations. TheThe cost of service in this aged home should be affordable by every people. The chain of old aged homes should be set up in locations where there is an increasing demand of old age homes. The homes should be set up at places where there should be adequate staffs available. The survey is conducted by selecting a few major regions of the country. There are remote places where there is need of old age care homes. The old age care homes can be set up in those places. The study has been carried out mainly by regression analysis. Time series analysis could have been done to know about the trend in the data. The growth of business of time series data could have been predicted with the help of time series analysis. The data analysis has been carried out on the basis of secondary data. It is recommended that the study should be conducted with the help of primary data. The primary data could be collected with the help of questionaire. Conclusion: In this report a study about the factors determining the growth of old aged home is carried out. The data collected is secondary data. The statistical analysis of the data suggests that number of people going to charitable and religious homes is largest. The two local government areas of Melbourne and Port Philip is chosen to be the best to set up old age care homes. References: Aihw.gov.au. (2016). Residential aged care and Home Care 201415 (AIHW). [online] Available at: https://www.aihw.gov.au/aged-care/residential-and-home-care-2014-15/ [Accessed 29 Aug. 2016]. Brownie, S., Nancarrow, S. (2013). 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