Preliminary Market Analysis
You are the chief executive officer (CEO) of an acute-care hospital. The governing board has expressed interest in adding a new service line, a twenty-bed geriatric psychiatric unit. This unit would be constructed in an existing vacant space within the hospital.
Create a preliminary market analysis for a geriatric psychiatric unit. Your primary focus for this project is to research credible sources for data that should be used in creating an evidence-based analysis. This analysis will then be used to determine the need and potential success or failure of the new service line.
Assume the unit will maintain a census of twenty patients per day. The market analysis must include the following data:
Population of the service area that will be required to support the new service line
Satisfaction of geriatric psychiatric patients in other similar organizations
Profits in other similar service lines
Requirements and costs for staffing the unit
To support your work, use your course and textbook readings, credible Internet sources, and also use the South University Online Library. As in all assignments, cite your sources in your work and provide references for the citations in APA format.
