Utilizing Statistical Concepts and Principles

Utilizing Statistical Concepts and Principles
Note: Please complete the discussion in this unit before doing this assignment.

Introduction
Today’s health care organizations are often expanding and diversifying their service offerings. Health care analysts are often tasked with analyzing census information and future trends. This analysis typically helps organizations determine their strategic approach. For example, an organization may look at census data and other large datasets to determine whether expansion, acquisition, or merger is the correct approach. As health care organizations seek new opportunities to meet the needs of their communities, they will need analysts who understand how to use algorithms, analytical models, and statistical concepts as part of predictive analytics.

For this assignment, assume the role of an analyst in a health care investment firm. The organization owns, operates, and invests in long-term care facilities and services across the United States. It is looking at making a substantial investment by acquiring a long-term care organization in Boca Raton, Florida. You have been assigned to be part of the team.

The facility is a 300-bed skilled nursing facility that offers long-term care and subacute rehab services, and has a private dementia wing. The organization also operates a home health division, which is part of the sale. The facility is located in Boca Raton, Florida. The area is a well-known retirement area but also home to an affluent middle class as well as skilled workforce. However, the investors are concerned about the long-term future of the organization and would like to see sustainability and growth in some areas.

Currently, the organization averages about a 70 percent census rate. During the months of November through April, the organization is much busier, peaking in January with an average 95 percent census. However, summer months are slower as many retirees head up north. Out of the 300 beds, 100 beds are designated for subacute care. This section has a greater amount of fluctuation than the long-term care and dementia wings. The home health division has about 5 percent of the current market share and mainly provides skilled care. Most referrals come directly from subacute center for follow-up at home with skilled nursing and physical and occupational therapy. The investors believe that there could be good growth potential to expand the home health department but are uncertain whether having 100 subacute certified beds is the right approach

Imagine you have been tasked with analyzing the organization and the community in which it serves. For this, use the information from the page QuickFacts Boca Raton City, Florida from United States Census Bureau.

After conducting your analysis, develop a 3–5-page executive summary detailing your findings, analysis of statistical concepts, and recommendations. In your executive summary:

Provide an overview based on the Census Bureau information about the community in which the organization serves, paying close attention to trends in the population.
Determine what algorithms you would use to analyze future trends for this organization.
Describe what models, theories, and statistical approaches can best be used to answer concerns from the investors in regard to sustainability and future growth.
Apply statistical methods to analyze trends in health care and make recommendations on how to further explore the benefits and risks of this investment. Be sure to use current best practices in health care analytics to support your recommendations. (Note that your recommendations do not include whether to purchase the organization but only on how to further analyze.)
Apply statistical methods to analyze future growth of the health care investment firm and to ensure community needs are being met and methodological rigor is maintained.
Be sure to include at least four scholarly, peer-reviewed, or industry-wide accepted references within the past 5 years that support your analytic recommendations.

Pay attention to the following critical elements that align with the grading criteria for this assignment:

Describe appropriate models, theories, and statistical approaches to be used to answer concerns from investors in regard to sustainability and future growth of a health care organization.
Apply statistical methods to analyze trends in health care and make recommendations on how to further explore the benefits and risks of an investment.
Apply statistical methods to analyze future growth of a health care investment firm and to ensure community needs are being met and methodological rigor is maintained.
Writing Requirements
Your executive summary should meet the following requirements:

Length: 3–5 double-spaced pages (excluding the cover page and references list). Include page numbers, headings, and running headers.
References: At least four peer-reviewed resources.
Formatting: Use current APA style and formatting, paying particular attention to citations and references.
Font and font size: Times New Roman, 12 point.
Review the Utilizing Statistical Concepts and Principles Scoring Guide to ensure you understand the grading criteria for this assignment.

Submit your Word document as an attachment to the assignment area.

Note: Your instructor may also use the Writing Feedback Tool to provide feedback on your writing. In the tool, click the linked resources for helpful writing information.

Resources
Utilizing Statistical Concepts and Principles Scoring Guide.
APA Style and Format.
How Do I Find Peer-Reviewed Articles?
Writing Feedback Tool.
QuickFacts – Boca Raton City, Florida.
APA Paper Template.
APA Paper Tutorial.

Boca Raton city, Florida
QuickFacts provides statistics for all states and counties, and for cities and towns with a population of 5,000 or more

All Topics
Boca Raton city, Florida
Population estimates, July 1, 2019, (V2019) 99,805
PEOPLE
Population
Population estimates, July 1, 2019, (V2019) 99,805
Population estimates base, April 1, 2010, (V2019) 84,409
Population, percent change – April 1, 2010 (estimates base) to July 1, 2019, (V2019) 18.2%
Population, Census, April 1, 2020 97,422
Population, Census, April 1, 2010 84,392
Age and Sex
Persons under 5 years, percent 4.0%
Persons under 18 years, percent 16.8%
Persons 65 years and over, percent 26.8%
Female persons, percent 52.0%
Race and Hispanic Origin
White alone, percent 86.6%
Black or African American alone, percent(a) 4.5%
American Indian and Alaska Native alone, percent(a) 0.1%
Asian alone, percent(a) 2.9%
Native Hawaiian and Other Pacific Islander alone, percent(a) 0.0%
Two or More Races, percent 2.1%
Hispanic or Latino, percent(b) 14.5%
White alone, not Hispanic or Latino, percent 75.5%
Population Characteristics
Veterans, 2015-2019 4,913
Foreign born persons, percent, 2015-2019 20.4%
Housing
Housing units, July 1, 2019, (V2019) X
Owner-occupied housing unit rate, 2015-2019 71.2%
Median value of owner-occupied housing units, 2015-2019 $458,600
Median selected monthly owner costs -with a mortgage, 2015-2019 $2,469
Median selected monthly owner costs -without a mortgage, 2015-2019 $977
Median gross rent, 2015-2019 $1,760
Building permits, 2020 X
Families & Living Arrangements
Households, 2015-2019 41,504
Persons per household, 2015-2019 2.26
Living in same house 1 year ago, percent of persons age 1 year+, 2015-2019 81.6%
Language other than English spoken at home, percent of persons age 5 years+, 2015-2019 25.1%
Computer and Internet Use
Households with a computer, percent, 2015-2019 96.1%
Households with a broadband Internet subscription, percent, 2015-2019 91.4%
Education
High school graduate or higher, percent of persons age 25 years+, 2015-2019 95.8%
Bachelor’s degree or higher, percent of persons age 25 years+, 2015-2019 55.3%
Health
With a disability, under age 65 years, percent, 2015-2019 4.4%
Persons without health insurance, under age 65 years, percent 9.8%
Economy
In civilian labor force, total, percent of population age 16 years+, 2015-2019 58.0%
In civilian labor force, female, percent of population age 16 years+, 2015-2019 51.4%
Total accommodation and food services sales, 2012 ($1,000)(c) 697,273
Total health care and social assistance receipts/revenue, 2012 ($1,000)(c) 1,368,196
Total manufacturers shipments, 2012 ($1,000)(c) 451,072
Total retail sales, 2012 ($1,000)(c) 2,534,172
Total retail sales per capita, 2012(c) $28,851
Transportation
Mean travel time to work (minutes), workers age 16 years+, 2015-2019 21.5
Income & Poverty
Median household income (in 2019 dollars), 2015-2019 $83,114
Per capita income in past 12 months (in 2019 dollars), 2015-2019 $61,128
Persons in poverty, percent 9.1%
BUSINESSES
Businesses
Total employer establishments, 2019 X
Total employment, 2019 X
Total annual payroll, 2019 ($1,000) X
Total employment, percent change, 2018-2019 X
Total nonemployer establishments, 2018 X
All firms, 2012 19,486
Men-owned firms, 2012 10,713
Women-owned firms, 2012 6,230
Minority-owned firms, 2012 3,254
Nonminority-owned firms, 2012 15,042
Veteran-owned firms, 2012 1,349
Nonveteran-owned firms, 2012 16,812
GEOGRAPHY
Geography
Population per square mile, 2010 2,877.2
Land area in square miles, 2010 29.33
FIPS Code 1207300
About datasets used in this table

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