Author: Man, Chap Fu Jeff
Title: Factors associated with the supply and pricing of private residential care homes for elderly in Hong Kong
Advisors: Yung, Esther (BRE)
Degree: M.Sc.
Year: 2019
Subject: Hong Kong Polytechnic University -- Dissertations
Older people -- Services for -- China -- Hong Kong
Old age homes -- China -- Hong Kong
Nursing homes -- China -- Hong Kong
Department: Faculty of Construction and Environment
Pages: 69 pages : color illustrations
Language: English
Abstract: By end of 2020s, over 33% of Hong Kong population would be elderly. The society valued less of respecting elderly and caring for neighbors, and the extended families now do not live close to each other, making elderly people move out of the family and move in to residential care homes for elderly ("RCHE"). As of end of March 2019, the supply of RCHE in Hong Kong was 74,919 beds, which could accommodate 6.44% of the elderly population; within the 74,919 beds, 63.4% were run by 549 private RCHEs. Consumers' ability to choose the goods or services that is most suitable for them gives pressure to suppliers to lower the prices or improve the quality, or both. More information about prices will decrease prices and lower the difference between prices, making the market more efficient by not allowing suppliers earning excessive profits remain in the market. Elderly are in poor position to choose their own RCHE because they have little access to information about RCHE prices and quality, or they do not know RCHE information is available. Government published a few selection guides for elderly to choose RCHE which suit their needs. However, these selection guides should be used together with transparent information of price and quality for elderly, who are of least bargaining power in the society, to make useful comparisons. This paper aims to give a detailed explanation of what really determined the price of RCHE and to investigate whether the price information is readily available. This research employs hedonic price modeling to identify the association between the price of RCHE and the underlying factors of RCHE. The data set includes a sample of 339 Hong Kong private RCHEs. Occupancy rate, quality provided, nurses and physical therapists presented were found to be key factors in determining prices of private RCHE service in Hong Kong. The research also provides possible policy implication to the government on the provision and pricing of RCHE.
Rights: All rights reserved
Access: restricted access

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