Fort Myers
MIDTERM TAKE HOME EXAM
FT. MYERS ELDERCARE (CASE NO. 9-898-041)
1. Has Dana done a good job researching his options?
While Dana did not consider the site potential of other property types, he did a good job researching his options for eldercare facilities. His analysis included regional analysis (comparing other cities and counties to Fort Myers), population trends, Fort Myers healthcare statistics, industry and competitor analysis (by viewing a consultant report), financing alternatives and financial analysis. Together, the information provided a thorough overview of his options within eldercare.
2. How do congregate care and assisted living facilities differ?
They differ in client profiles, ownership, elder decision to join, services, physical environment, pricing and financing needs.
Client Profile: Congregate care facilities typically targeted younger elders (average age 78) that were independent and more upscale. Assisted living facilities typically targeted older populations (average age 83) that were frail and needed assistance with two to four activities of daily living.
Ownership: Congregate care facilities have high entrance fees, which are sometimes refundable upon move-out or death, and are similar to buying a unit in a condominium. Owners also pay monthly fees that cover certain supportive services.
Elder Decision: While the decision to move to a congregate care facility is often a life-style choice, moving to assisted living facilities is often more often a “need driven” option for elders.
Services: Congregate care facilities typically have fewer services such as 24-hour supervision, one meal/day and concierge services. Assisted living facilities typically have more services, such as more meals, housekeeping, laundry and personal care services.
Physical Environment: Congregate care facilities are typically more like large residential condominiums, offering full size apartments with kitchens. Assisted
FT. MYERS ELDERCARE (CASE NO. 9-898-041)
1. Has Dana done a good job researching his options?
While Dana did not consider the site potential of other property types, he did a good job researching his options for eldercare facilities. His analysis included regional analysis (comparing other cities and counties to Fort Myers), population trends, Fort Myers healthcare statistics, industry and competitor analysis (by viewing a consultant report), financing alternatives and financial analysis. Together, the information provided a thorough overview of his options within eldercare.
2. How do congregate care and assisted living facilities differ?
They differ in client profiles, ownership, elder decision to join, services, physical environment, pricing and financing needs.
Client Profile: Congregate care facilities typically targeted younger elders (average age 78) that were independent and more upscale. Assisted living facilities typically targeted older populations (average age 83) that were frail and needed assistance with two to four activities of daily living.
Ownership: Congregate care facilities have high entrance fees, which are sometimes refundable upon move-out or death, and are similar to buying a unit in a condominium. Owners also pay monthly fees that cover certain supportive services.
Elder Decision: While the decision to move to a congregate care facility is often a life-style choice, moving to assisted living facilities is often more often a “need driven” option for elders.
Services: Congregate care facilities typically have fewer services such as 24-hour supervision, one meal/day and concierge services. Assisted living facilities typically have more services, such as more meals, housekeeping, laundry and personal care services.
Physical Environment: Congregate care facilities are typically more like large residential condominiums, offering full size apartments with kitchens. Assisted