Practice Growth and Expansion
There is a time that comes in our life when we realise the power of economies of scale. It might be managing more employees, having more residents or making more than one lunch. Once you understand the economies of scale and its benefits, smart operators look to expand their business.
Economies of Scale or Business Expansion plays an important role in the Aged Care Industry. There are many expenses that are incurred by aged care providers that can be manipulated by economies of scale. This is because providers incur many fixed and semi-fixed expenses. An obvious example of economies of scales is nurse hours. If you employ 1 nurse you can look after 1 resident. If you admit a 2nd resident, you do not need to increase the nurse number by 1 because the first nurse will look after both residents. Suddenly instead of 1 resident compensating nurse's wage, 2 residents compensate the nurse's wage.
Even in a non-monetary sense, it makes sense to expand; if you are passionate about the services you offer, the more you expand, more the number of residents who will benefit from your services.
Buying additional bed licences and applying for bed licences through ACAR are just 2 of the many ways of expanding the business. As experts in the industry we can work with you for a prosperous business expansion.
We have developed a framework called AccXite Aged Care Framework through experience, research, observation and consultation of the industry. The AccXite Aged Care Framework identifies factors that need to be met by aged care providers to prosper and expand in the aged care industry.
We provide a performance based fee option for our services as we believe in our ability to work with you to achieve benefit for you.
To see how AccXite can help you and your facility to grow and expand, please contact us.
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