A Feasibility Study for Investing in an Elderly Care Center in Thailand
Keywords:elderly; feasibility for investments; elderly care business
The objective of this study is to investigate suitable investment models of the Elder Care Centre business and to study the feasibility of investing in the Elderly Care business in Thailand. This study is mixed research done with both quantitative and qualitative research methods. Instruments for the qualitative research were document analysis and in-depth interviews with a total of 60 respondents, scholars in the field of health promotion for the elderly, elderly patients in Elderly Care Centres, and entrepreneurs in private large scale medical ventures in the Bangkok Metropolitan. For the quantitative research, Return of Investments Analysis and Customer Demands Analysis were employed. There were 196 respondents for the quantitative research composing of the elderly and their care givers using the services of the Elderly Care Centres in state hospitals or large private hospitals. Findings from this study are 1) there are three possible business models for Elderly Care Centres in the future, i.e., Full-Service Elderly Care Centres, Health Care only Elderly Care Centre, and Services only Elderly Care Center. The four Elder Care businesses with growing trends are the Exclusive Residents for the elderly or Hospices, Elderly Day Care Centres, Long-stay Hospitals, and Health Promotion Centres for the Elderly. 2) The analyses of the Return of investment and Customer Demands showed that the highest feasibility for investments is on Elderly Day Care Center followed by Long-term Care Hospital.
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