To prepare an in-depth strategic plan, providers should start with the demographics and a competitive market assessment. Identifying opportunities for growth in services and consumer needs will help guide the five-year plan. These services include:
- Renovating and expanding existing communities
- Adding new campuses
- Adding affordable housing
- Adding wellness facilities, restaurants, clinics, etc.
- Revenue diversification
- Home-based services
- Community-based services
If you're looking for an in-depth market forecast for a new project or major renovation, BKD can help. We have extensive experience with helping providers prepare feasibility studies or pro forma financial statements to assist with financing your long-term strategy.