During 2014 to 2025, U.S. population is projected to grow by close to 8.6%, from

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During 2014 to 2025, U.S. population is projected to grow by close to 8.6%, from about 319 million to 346 million. The population under age 18 is projected to grow by only 5%, while the population aged 65 and over is projected to grow by 41%. (The Complexities of Physician Supply and Demand: Projections from 2014 to 2025, Association of American Medical Colleges) · In 2011, the baby boom generation, or those people born between 1946 and 1964, which comprises approximately 75 million individuals, will begin to turn 65. By 2030, it is projected that approximately 70 million people, or 20% of the population, will be older than 65 (U.S. Census Bureau, 1996). · Older adults, defined as people aged 65 years and older, possess greater cancer incidence and mortality rates compared to younger people. · Approximately 60% of all cancers occur in the older adult population, resulting in an incidence rate that is 10 to 11 times higher than in the younger population (Ershler, 2003; Yancik & Ries, 2004). · The risk of developing cancer is 8%–9% in people age 40–59, with a dramatic increase in risk of 20%–30% in people older than 60 years of age (Malik, 2004). · According to Edwards et al. (2002), if current cancer incidence rates were applied to the population projections for the next five decades, the number of patients with cancer would double from 1.3 million to 2.6 million between 2000 and 2050 because of population growth and aging. These projections have a direct impact on future health care in research, practice, and educational settings (Cancer and the Aging Population, Diane G. Cope, PhD, ARNP, BC, AOCNP) Total Oklahoma population: 3,751,351 (Population Demographics for Oklahoma 2017 and 2016 content provided by the US Census bureau for the years 2010, 2011, 2012, 2013, 2014 and 2015, 2016). Number of new cases of cancer (cancer incidence) is 454.8 per 100,000 men and women per year (based on 2008-2012 cases).

It appears that the above scenarios present a business opportunity to build a not-for-profit cancer hospital or clinic in Oklahoma. Is it a creative idea - Why or why not?

Explanation / Answer

Yes, it is a creative idea because according to the research there will be double population in the five decades of cancer patients. Oklahoma has 454.8 cancer per 1,00,000 of population on an average and according to the population that is 37,51,35 the number of Pateint having cancer approximately will be 17,000. So if you want to open a not-for-profit cancer hospital the Pateint will be in very high amount. And this amount will be increasing in the next few decades. So even if you do the treatment for very lower margins, you would be able to earn high amount of money.

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