This document discusses opportunities for senior care in India and proposes some new models. It suggests converting hotels into independent and assisted living communities for seniors to take advantage of existing amenities. A three-tier trust structure is proposed for communities serving people with disabilities (PWD). An Apex Trust would fund infrastructure, a Community Trust in each community would manage individual Beneficiary Trusts for each PWD resident. Assisted care centres located away from hospitals could help decongest hospitals and generate additional revenue. Converting existing hotels requires minimal cost and their amenities are well-suited for senior care needs.
Colby Hobson Exemplifies the True Essence of Generosity, Collaboration, and S...
IMAPAC Retirement Living World India 2014
1. Opportunity for using Senior Care
for other segments
Colonel (Veteran) A Sridharan, VSM
Pioneer & Consultant Senior Care
MD, Covai Property Centre
2. Status of Senior care in India ?
Are we where we should be??
Should we look at other opportunities???
3. Concept of Senior Living with Special Children
Conversion of Hotels for Independent & Assisted Living
Assisted Care Centre to decongest hospitals for better
revenue
4.
5. APEXTRUST
• A Public Trust formed at company level with 7 trustees
• Attracts donations under sec 80B
• Funds used for creation of infrastructure (like hostels)
and for improving care facility
APEX TRUST COMMUNITY TRUST BENEFICIARY TRUST
6. COMMUNITY TRUST
• Private Trust formed at each retirement community
• 4 trustees from parents of PWD’s, two outsiders
including one psychiatrist and one from company
management
• Role involves taking care of the PsWD, managing their
individual Beneficiary Trust, sale of property on demise
of parents, crediting amount realised in Beneficiary Trust
and executing the will on demise of PsWD
APEX TRUST COMMUNITY TRUST BENEFICIARY TRUST
7. BENEFICIARYTRUST
• Each PWD to have his/her own private trust as per guidelines mandated
by law
• Community trustees superimposed over the individual Beneficiary Trust
with guidelines to manage each PWD’s account
• On demise of parents of PWD, dwelling to be sold by community trust
at the market price and credited to the PWD’s account
• Determine care expenses for each PWD during the life time of Parents
and work out expenses for every year taking into account inflation etc.
Cont.
APEX TRUST COMMUNITY TRUST BENEFICIARY TRUST
8. BENEFICIARYTRUST cont...
• Only interest up to the required amount for each PWD depending upon
the care to be given will be utilized by the community trust
• Insurance to take care of the PWD’s medical requirement
• If additional medical expense are required, principle amount in the PWD
account can be used subject to the trust rules
• If principal amount in the Beneficiary Trust is to be used for medical or
any other purpose permission from Apex Trust is mandatory
APEX TRUST COMMUNITY TRUST BENEFICIARY TRUST
9. Miscellaneous
• Social commitment
• Senior Citizens of the community can be foster parents
• Neglected segment – most worried
• Only 10% reserved for PWD – can be increased subject to demand
• Resale only to parents of PWD
• Model accepted by NationalTrust
• Need for sensitizing staff and others against abuse of PWD
• Not a commercial proposition but a duty to the society
10.
11.
12. Hotels normally located within city with good ambience
Hotels have everything that a Senior Community needs
Hotel can be easily converted to 1 / 2 bed room Independent Living or Assisted care centers with minimum cost
Existing hotel amenities are ideal for requirement for the Care centers
The supportive services of Nursing, Housekeeping, Catering, Maintenance & Security of the Hotels are features
which complement Senior Living.
Facilitates group cohesion
13.
14. 24 hrs emergency
services
Ambulance facility
On Site Health Care
Services
Social & Recreational
activities
Exercise classes
Pay and Use Model
RehabTherapy
Doctor on call
Nursing Services
Physiotherapy
&
Ayurveda Centre
Ambience helps in
faster recouping
Facility Management
(Housekeeping,
Catering, Laundry
Travel Services)
15. ADVANTAGE OF ASSISTED CARE CENTRES
Better utilisation of available rooms
More patients get critical treatment
Recuperation of patients in good environment
Additional revenue to the hospital by bed utilisation and revenue from ACC
ACC can be away from the hospital
