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Author Topic: requesting feed back on retirement home idea  (Read 2536 times)
nop_90
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« on: August 04, 2010, 08:10:27 PM »

Anyway just wondering if this idea is a total waste of time.
I am also thinking of ways to make $$$ which can not be under cut by the chinese Smiley

In USA/Canada the population is aging. And as they get older they will require more intensive care.
There is a large building for sale which was origionaly designed as a retirement home for US air force veterans.
The man who origionally constructed it die, and it is for sale by his widow. She is having a very difficult time getting rid of it.
Also she is getting fed up with maintaining the structure.
The building is 3 stories high, with a large patio facing the beach. I am guessing it would have enuff room for 50 residents.
The lot is approx 1 hectare so there would be room for construction of aditional structures.

In this case I would not have enuff $$$ to finance my self. But I think I could raise financing. Equipment would have to be purchased etc.
But it would be very easy to sub-contract that out with a local hospital.
In Manila if intensive medical treatment is required there are 2 US certified hospitals.
Or if need be, the patient could be flown to singapore which probably surpases US standards, and is far cheaper.

There is 4 nursing schools close by, so hiring of professional nurses would not be a problem.
The wage of a full time nurse is approx $300 a month. So the resident would get far better care then anything in USA for the cost.

Anyway would there be a demand for such a facility in USA ? Or is this a hair brained scheme.
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perkiset
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« Reply #1 on: August 04, 2010, 10:53:43 PM »

The monetary models of care a changing so rapidly now I'd be mighty careful. There's money to be made by the bold though ...
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« Reply #2 on: August 05, 2010, 12:18:33 AM »

What do u mean perks Huh?
The careful part is why I want to use OPM (other people's money).
The building and grounds is approx ~$700K. The big thing is that it is on 75m of beach front. There is less and less available beach front so that is that in itself is an investment. The cost of construction for the building 5 years ago was approx $500K (construction costs here are a lot less).

http://www.newyorklife.com/nyl/v/index.jsp?vgnextoid=652d1219a49d2210a2b3019d221024301cacRCRD
Approx cost in USA is $200 per day.
For a shift of 3 nurses when hired from a nursing agency is approx. $1k a month.
So if the patient wished they could have a private nurse sit in the room with them 24 and 7.

From the statistics it appears that a lot of funding in USA for nursing homes comes from the gov't.
Is that what you mean by models of care Huh?
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« Reply #3 on: August 05, 2010, 04:04:44 AM »

So if the patient wished they could have a private nurse sit in the room with them 24 and 7.

That alone is worth $100/day.  Wink


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perkiset
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« Reply #4 on: August 05, 2010, 11:03:44 AM »

What do u mean perks Huh?

Well, if it's all OPM and you have a reasonable escape clause then you might be OK - but what I mean is that with the new laws regarding healthcare, efforts by Republicans to eliminate social entitlements (including even social security and medicare) the path of where profit comes from is getting more and more murky ... if you're in that vein. Add to that the fact that people's retirement accounts, IRAs etc have taken a BRUTAL beating in the last 2 years and people are not going to be as willing to spend...

My only point was that this sort of venture would scare me quite a bit. But in closing, my point was that there MIGHT be some real gold at the end of that rainbow, for those with the guts and balls enough to lay down the gamble and ride it out. The largest fortunes in the world (in some cases) have been built because of just such a gamble.
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« Reply #5 on: August 05, 2010, 12:41:16 PM »

>Anyway would there be a demand for such a facility in USA ? Or is this a hair brained scheme.

Certainly not my area of expertise, but I'd be extremely careful in the US with anything health care related and using OPM is hardly the extent of the security measures I'd consider before going this route.  In the US you have to be connected to the powers that be, those of the larger variety, before anything "care" related can be permitted.  Well, if it seems harmless enough to these powers, or rather, if your idea seems sufficiently hair brained and foolish they'll leave you alone.  But if you have any potential for profits you can easily find tons of trouble. 

Nurses don't exist (for the most part) outside of unions that mandate most everything about their work lives.  Where the unions lose power, the various government agencies/services (FDA, HHS, Medicare, Medicaid, etc.) kick in.  Where they choose not to exert control you have the ever-present free market which if it determines your idea to be worth while will buy you out (probably most ideal endgame) or sue you out of business somehow.  One of the residents just happens to get "injured" or complains of negligence and it's more than OPM you have to be worried about, it's anything you have in your name 

Business shells provide some protection for this.  But with the size of the fish in that water I wouldn't count on it.  I suffered through a year of obtaining FDA approval for human implantable RFID chips with enough capital backing to challenge IBM in court and win (with some luck).  Granted this is far more of a concern than what you're proposing.  But the regulatory underbelly of anything care or health related is a beast in this country.  But in PH it sounds like possibly a great idea, depending on the strength and landscape of the powers over there, I suppose.
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nop_90
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« Reply #6 on: August 05, 2010, 02:35:44 PM »

Thanks for you input guys.

Basically it is outsourcing of a nursing home.
So the selling point is in USA you pay $200 a day to live in a shit hole, or pay $200 a day (or less) to live a lot better and live in PH.

Both perks and itto have summed up the problem, would (FDA, HHS, Medicare, Medicaid) be willing to pay for this.

Quote
One of the residents just happens to get "injured" or complains of negligence and it's more than OPM you have to be worried about, it's anything you have in your name
Part of the reason why health care is a lot cheaper here is partially because of cheaper cost of labour, but also because civil suits are next to impossible to launch here. As a result doctors/hospitals do not need to pay massive amounts in liability insurance.

So according to the internet an MRI scan in USA costs anywhere from $700 to $2200.
In PH it will cost $100-200. Exact same machine, probably the exact same technician operating the machine (many technicians are trained here and go to work in USA/EU).

Anyway next time I run into some americans I will talk to them about it, and see what their ideas are.
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« Reply #7 on: August 10, 2010, 05:50:10 PM »

Both perks and itto have summed up the problem, would (FDA, HHS, Medicare, Medicaid) be willing to pay for this.

In fact, they might just have to at some point.

ATM medical tourism is a growth area in Europe ie: get your face lift in Istanbul, your Dentist is now in Bombay, let's retire in Tunisia or Morocco etc...
All this not necessarily because gvts encourage it (they are broke!), but rather because people want value for money and medicare insurers tend to agree.

So an even partially subsidized retirement scheme for Americans in PH could fly me think,
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