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Final Paper Kalah Powell MHA 618 Health Economics Dr. Gardiner August 21, 2023

Introduction According to data there are more than 55.8 million people over the age of 65 in the U.S. This accounts for 16.8% of the population in the nation. “People of 65 and older accounted for over one‐third of US medical spending” (Fang, Owens. 2022). Medicare for elderly provides coverage for the elderly and does not vary from State to State. Geriatric outpatient clinics provide better services for Medicare patients for efficient and effective care. According to Daniels & Dickson, 50% of hospital revenue stems from services from older patients. This paper will conduct a feasibility study on geriatric clinics performance focusing on feasibility, strategic effect, market analysis, financial analysis, operations performance, inpatient, outpatient, and outlook. Evaluating the Feasibility Feasibility is important to achieve success and growth while in investing. Taking the necessary steps to establish a geriatric outpatient clinic provides. Geriatric integrated outpatient care provides a comprehensive treatment plan and connections to social resources for older people , thereby reducing the utilization of medical resources” (Wei, Hsieh, Huang, & Fang. 2020). This project will require a analysis of important factors, including the SWOT analysis. The SWOT analysis focuses on strength, weaknesses, opportunities, and threats to “evaluate a company’s competitive position to develop strategic planning” (Vaidya. 2023). Depending on SWOT analysis, Geriatric Clinics requires coordination, direction, and planning health services. Effective feasibility requires technological advancements, implementing electronic health records (EHR) will create access to multiple facilities.

Implementing technology and tools will assist in bridging gaps ion patient- provider interactions. BUDG IT tools and Electronic Health Records will improve portability and clinic performance. Access to these tools allows the clinic access to medical records, information and preventing medical errors. Electronic health records will increase the quality of care and make gathering pertinent information more effective and efficient. This feasibility will increase performance and physician-patient relationship. It’s a great tool that can be expensive but overall, it will assist in a successful clinic. The budgeting tool is essential for opportunities in marketing and budgeting for employees. Budgeting software tools provide support for patients/employees, analysis of budgets and reports. Strengths : Geriatric clinics’ strengths create investments that capitalize on opportunities. The clinic will create “person-centered care and multiple operations within outpatient services, consultation, and referrals due to clinic patients. Finance is important, budgeting tools, goals and guidelines will be essential. Weaknesses : Geriatric outpatient clinic weaknesses include the need for investments to back and support the organization. Management is key to success and can create a setback without qualified, dependable, and reliable management. Opportunities : Opportunities for a geriatric outpatient clinic require marketing and advertising for the target audience, the senior population. Software tools such as BUDG IT are essential for opportunities in marketing and budgeting for employees. Budgeting software tools provide support for patients/employees, analysis of budgets and reports. Threats : There will be many challenges/threats developing geriatric outpatient clinics such as competition. The senior population are a popular targeted audience, many organizations will

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compete for business. Standing out from other competitors with specialty care is important. Staff members should be offered contracts to strategize recruiting potential employees. Financial Analysis Investment for a geriatric outpatient clinic must consider architect, furniture, equipment, salaries, marketing, recruitment, and consulting. This investment cost could more than $600k plus to start up. The analysis should have a plan for revenue withing 5-6 years with expenses. Medicare payments received from patients would cover operating costs. Implementing tools and technology for a geriatric clinic will create investments. Capital investment and geriatric clinic performance outcome will become successful with multiple services: outpatient cost, marketing, and providers. Financial performance will be analyzed by outpatient payments, such as inpatient activities, test, appointments, and medical cost. Geriatric outpatient clinics offer a way for healthcare providers to add Medicare patients and better manage their care” (Daniels & Dickson. 1990). The geriatric clinic will profit from Medicare payments but will require flexibility with Medicare changes. The clinic will be a great gain for the community and targeted audience due to treatment, health maintenance and primary care. Operations Performance The usage of technology will increase patient care and services. Having tools for older patients that have memory issues and are not able to retain information, an EHR will allow data and information to store and record or multi-purpose reasons. This creates communication between multiple providers and reduces time by reducing conventional paperwork. Systems

would be automated, reducing billing and date errors. “Achieving value from use of patient- facing technologies with older adults is contingent upon matched organizational investments that support technology-enabled care delivery” (Cross, Levin, Raj. 2021). Technology allows for more tailored accommodations for geriatric patients. Inpatient/Outpatient Geriatric clinics will serve many purposes for patients including funding. “Outpatients clinics have the ability to offer convenient access to medical treatment” (Abduljawad. 2011). Patient care and tools and allow for quicker inpatient and outpatient process. Physicians will perform with patients and manage health and generate high performance activity. Quality care and technology/tools will increase communication within the community outreach and increase advancement. The clinic should focus on the six domains of Healthcare Quality: safety, equity, efficiency, effectiveness, patient-centered, and timeliness outlined by the Institute of Medicine. Outlook The use of Electronic Records and tools will guarantee benefits and create success. “EHRs and the ability to exchange health information electronically can help you provide higher quality and safer care for patients while creating tangible enhancements for your organization” (Lye & Krumholz. 2018). The geriatric clinic performance will create clinical benefits and opportunity for the community and patients. There will be many issues with implementing new items into a clinic including cost, the purpose will improve health care. In conclusion, after evaluating the SWOT analysis, the feasibility and performance of the geriatric outpatient clinic. Clinical settings consider the operations with revenue, expenses,

marketing, finances, and operations. This gives guidance and understanding on operations, finance, and marketing. This study will outline the data and scope of a feasibility report. The clinic should illustrate revenues and expenses, analysis will determine evaluations and marketing with competitors.

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References Fang, Zhengyi. Owens, Pamela. March 15, 2022. Clinical Infectious Diseases. National Library of Medicine. Article retrieved from https://www.ncbi.nlm.nih.gov/pmc Wei, Y., Hseih, Huang, Y., Fang, M., 2020. The influence of integrated geriatric outpatient clinics on the health care utilization of older people. BMC Geriatrics. Article retrieved from https://bmcgeriatr.biomedcentral.com Vaidya, D. 2023. SWOT Analysis Meaning. WallStreetMojo. Article retrieved from www.wallstreetmojo.com Cross, D., Levin, Z., Raj, M., May 2021. Patient Portal Use, Perceptions of Electronic Health Record Value, and Sel-Related Primary Care Quality Among Older Adults: Cross- sectional Survey. JMIR Publications. Advancing Digital Health & Open Science. Journal of Medical Internet Research. Article Retrieved from https://www.jmir.org/2021/5/e22549 Abduljawad, Asaad. May 2011. Incentives for Better Performance in Health Care. National Library of Medicine. PMC 3121024. Article retrieved from https://www.ncbi.nlm.nih.gov Lye C, Forman H, Daniel J, Krumholz H. The 21st Century Cures Act and electronic health records one year later: will patients see the benefits? J Am Med Inform Assoc 2018 Sep 01;25(9):1218-1220. Daniels, E. & Dickson, T., Feb 1990. Assessing the feasibility, performance of geriatric clinics. Outpatient Care. Healthcare Financial Management. Vol. 44, Iss 2. https://www.proquest.com/docview/196356492

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