Opportunity for using Senior Care for other segments

Colonel (Veteran) A Sridharan, VSM

Pioneer & Consultant Senior Care MD, Covai Property Centre

Status of Senior care in India ?

Are we where we should be??

Should we look at other opportunities???

Concept of Senior Living with Special Children

Conversion of Hotels for Independent & Assisted Living

Assisted Care Centre to decongest hospitals for better revenue

APEX TRUST

• 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

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

BENEFICIARY TRUST • 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

BENEFICIARY TRUST 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

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 National Trust

• Need for sensitizing staff and others against abuse of PWD

• Not a commercial proposition but a duty to the society

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

24 hrs emergency services

Ambulance facility

On Site Health Care Services

Social & Recreational activities

Exercise classes

Pay and Use Model

Rehab Therapy

Doctor on call

Nursing Services

Physiotherapy

&

Ayurveda Centre

Ambience helps in faster recouping

Facility Management (Housekeeping,

Catering, Laundry Travel Services)

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

Thank You

By

Colonel (Veteran) A Sridharan, VSM

& Team Covai

sri@covaiprop.com /+91 9894317840 www.covaiprop.com