Old People Homes - Matter Of Compassion; Also A Matter Of Ethical Business Opportunity

  1. I have given in many places in this website especially India's Demographic Dilemma about the youth. Coming now to persons about sixty years (i.e. senior citizens) their number in India is about 24 millions. As the age expectancy is raising up steadily, it is likely that those who have crossed 60 especially those who are in the middle class - even its lower end - are likely to live up to 75 - 80 years. This is due to modern medical advances. Thus the population of old people is likely to be growing and by 2020, such senior citizens are likely to be about 70 to 80 million. (Also likely that the age 60 years will cease to be a 'retirement' age and the definition of old age person may change !).
  2. But whatever it is in terms of detailed statistics, the fact of the matter - a pressing one even at present, is about the lives of several million old people. They have lived their lives.
  3. They are also a microcosm of India. Those who are very rich can afford full time nurses. Importantly since they also hold huge share of wealth themselves (in land, buildings, company share, cash etc), others will 'worry' about them and care for them, as the wills they write are important for everybody. So rich old man or woman still commands power ! (and therefore respect!!).
  4. But what about those not so rich old people. Their sons and daughters travel out different far away places (including abroad) in search of their livelihoods. They face several constraints to take their parents with them. Also many elderly persons do not like to move away from the place where they lived for many years. Many of them still manage to have some relative to stay with them. But still in India, it has become necessary to have many old peoples' homes, at reasonable costs.
  5. Such a need is going to increase sharply in the coming years.
  6. I have seen some of them run especially by well accomplished doctors who even run hospitals. To me, this appears as a good model.
  7. The essential requirements for a old person are :
    • A clean room with bed and bathroom to live and sleep. He / she should be able to sit there to do some reading, writing etc.
    • A common dining room in which cooked food is served to the taste of the person (with some affection).
    • A Some common servant to keep the surroundings and his / her room clean.
    • A few more old persons around so that they have company.
    • A small campus so that they can walk; get outside air etc.
    • A quickly responding facility to be taken to a hospital / doctor when they need (not necessarily a free treatment).
    • A Some periodic check up of health (can be on nominal payment).
  8. There are working models in the country (including some bad ones!). When new ones are to be built, it need not all follow the same pattern. There can be three or four levels to fit the bill of different income groups. But all of them should give attention to items given in para (7) above. Too much of multi-storey concept (even if well furnished with lights) may not be ideal for old people. Also I feel the size should be such as not to exceed 100 persons in one building complex, as otherwise human touch will be missing. It may become too impersonal and mechanical. For those who can afford to pay much, one can give more facilities. But it is better not to mix such apartments. One place, one class (in terms of payment) of persons will be better option. Let us not create bitter feelings between residents.
  9. I feel things are now ripe for enterprising persons to build such claims of homes (of different types) in many parts of the country - peripheries of metrocities, second and three tier towns. (The later can be cheaper). The entrepreneurs can build a business model in which they can get some parts done out of philanthropic funds (from Government grants for old people, religious trusts, corporates and individuals), for example, get land donated or subsidised cost or on long lease, buildings and some equipment donated etc. They can tie up with some local medical groups to have periodic checks at a lower cost etc.
  10. Otherwise basically it is better to have the final running cost on payments from the user basis, with some surplus to run the system efficiently, to give incentives to employees, service providers and also to recover some profit, kept for future growth. The entrepreneur also may recover some income based on his / her direct payment and 'sweat equity'. But one should avoid running these homes as cross commercial operations.
  11. This is going to be an important Service Industry of the future. Those who enter early and develop best practices can build a brand for themselves. Create also reasonable wealth. Create many useful employment to ordinary local people. And above all fulfil a useful social function. (Let us not hide under a general statement that our civilisational heritage is such we don't have to follow the West and all our family ties will take care. Yes, family members may be ready to pay but not be able to be physically present to do the functions).
  12. My appeal and suggestion to all those who read this piece to think carefully and start an important enterprise of the future. In due course, various innovative life long old age insurance models with small payments ought from young age can create huge funds to run these systems very effectively as sound business models. Also in about a decade say by 2020 India is very likely to become an important destination for Global Health Tourism. Many persons from all over the world are likely to visit India to get better and competitive services. In the process, there could be a Global Geriatric Programmes as well. Many old persons from Cold Zones may come to India to enjoy the warm and bright climate (assisted by air-conditioned rooms at summers). So look out for several opportunities within a decade.