The changing demographics of the U.S. population are vital to consider when thinking strategically in healthcare. The U.S. population is changing with shifts in age groups which will impact many aspects of the nation, including an increased need for healthcare services for the aging population and an increased need for money to pay for those services. The U.S. Census Bureau (2020) highlights the following information related to projected demographics:

• All baby boomers will be age 65 or older by 2030. (This equates to 1 in 5 of the population.)
• By 2060 the 65-and-older population is projected to nearly double to 95 million.

What concrete data does a market analysis provide to steer the planning and development of a new venture?

If you were the CEO of a healthcare facility, what aspects of a recent market analysis would you use to pursue a competitive advantage for a new venture?

How does the projected demographic you chose impact the future planning of a healthcare organization?

What does this changing demographic mean for our healthcare system, and how will it affect strategic planning and management? (Consider how this demographic impacts stakeholders, consumers, and regulations.)

As a CEO, how would you communicate the demographic changing needs to the stakeholders?

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Market analysis provides concrete data essential for steering the planning and development of a new venture Heres how it applies to the scenario 1 Understanding Demographic Trends A thorough market an... View the full answer