Assessing the Market for Long-Term Care Services

Article Abstract:

Due to the changes in financial reimbursement and high costs of long-term health care, a variety of options for care will be entering the marketplace, most of them community-based services as opposed to traditional nursing home care. The senior citizen group is very diverse from healthy to non, poor to wealthy, and active to disabled. A chart illustrates the available sources for care in the institutional, community and in-home settings. The healthcare organizations needs to evaluate the marketplace and identify the target market. To evaluate this market and its characteristics, market research techniques need to be used. Diversification of hospital and healthcare services, emphasizing those that outreach into the community will be essential to success. The older consumers have financial strength for their numbers, spend a disproportionate share of medical dollars, and enjoy their homes. Examples of services that could be offered to reach this market are health education, psychological and emotional services, transportation services, healthcare screening, multipurpose senior citizens centers, adult day care, homemaking service and financial counseling. There are more options. The method of entering this new service field should be carefully considered in terms of available funds and employees. Joint ventures, purchasing an existing business or starting from scratch are some available options.

Forecasts and trends, Medical care, Diversification in industry, Industrial diversification

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Contracting Management Services - Options under PRM 2135

Article Abstract:

Due to increased regulation and financial pressures, hospitals have increasingly been contracting for management services. As the demand increased, available contractors also increased and fees then dropped. In February 1984, it is projected that half of the hospitals have contracted for management services. Due to governmental financial pressures, management contracts have been closely watched. In 1982, the Provider Reimbursement Manual (PRM) was revised and Section 2135 adopted. It includes guidelines for evaluating a provider's need for purchasing management services, for determining the reasonableness of its costs and then for records that must be made available by the provider for assessments. Several brief guidelines are explained in considering management service contracts. Some of them are: to consider competing proposals or accept bids, to contract with unrelated parties, and to be sure that responsibilities and authorities to be assigned to the firm are clearly delineated.

Business consultants, Management consultants

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How States Pay for Long-Term Care Facility Services under Medicaid

Article Abstract:

States pay for skilled nursing facilities under the Medicaid program and use a cost based payment system to reimburse these facilities. The two parts to payment are determining allowable costs and rate setting procedures. The programs used by several states are examined and evaluated.

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