you are the newly appointed CEO for the Continuing Care Retirement Community, wh
ID: 380879 • Letter: Y
Question
you are the newly appointed CEO for the Continuing Care Retirement Community, which is under the large Hospital System. A board retreat is coming up, and you must help the board with a critical decision: relocate the facility to a more suburban area, or stay in its current, metropolitan area location. By gaining a solid understanding of the key target ratios that the Board is responsible for, you may find that a more financially feasible alternative should be considered.
Highlight in detail the pros and cons to staying in the current, metropolitan area.
Highlight in detail the pros and cons to moving to a suburban area.
Prepare and use visual aids to demonstrate the points above.
After you present all your information, provide a solid recommendation with supporting information on your decision.
Explanation / Answer
I am the newly appointed CEO for the Continuing Care Retirement Community, which is under the large Hospital System. A board retreat is coming up and I must help the board with a critical decision: relocating the facility to a more suburban area or stay in its current, metropolitan area location. Although Continuing Care Retirement Community is a new concept since two decades because of the increasing parents or aged people after retirements are either thrown out from the family or they have wish to live their own life with same age people. The former one is the reason that majority would accept and later one is very less. The later results when people have money, but they don’t have kids. The good part is that it is convenient for them as they are provided with nursing care facilities. The advantages of having in the metros are the availability of nurses, hospital facilities, better mode of transportation, extensive care equipment, infrastructure, availability of markets, resources, various entertainment aids. But the disadvantages are they are costlier, if someone has money then it is affordable but in case of a poor retired adult, it becomes difficult. From the point of view of hospital profitability, it is better we stay in this metropolitan city and even continuous flow can occur. But if we consider the poor people and as a part of community service or corporate social responsibility, we can build a small Continuing Care Retirement Community in the rural or suburban area. If we want to go for expansion, then the idea of building a new one would be good. In suburban area, Continuing Care Retirement Community would require expert nurses as the hospitals will be far away. The nurses’ availability in the suburban area would be difficult as not many will adapt to limited resources and they also have families. The mode of transportation, nearby markets, entertainment means will be limited, so it might not attract everyone. But the scenic beauty, non-polluted regions will be like spending days with nature.
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