ElderCare Assurance: will accounting firms implement it?

ElderCare Assurance services are divided into three categories: 1. consulting services, 2. direct services, and 3. assurance services. Because of regional differences in demographics and needs of the elderly, different groups of people will need different mixes of ElderCare Assurance services. Likew...

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Bibliographic Details
Published in:The National Public Accountant 2002-09, p.9
Main Authors: Walker, Edward R, Meixner, Wilda F
Format: Article
Language:English
Subjects:
Accounting firms
Assurance services
Elder care
Health care policy
Management
Medicaid
Medicare
Older people
Personal finance
Polls & surveys
Professionals
Services
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Summary:ElderCare Assurance services are divided into three categories: 1. consulting services, 2. direct services, and 3. assurance services. Because of regional differences in demographics and needs of the elderly, different groups of people will need different mixes of ElderCare Assurance services. Likewise, different accounting firms will excel at offering specific services. A recent research study surveyed accounting firms in a large southern state to determine the extent to which they currently provide services to elderly clients. Of the firms surveyed, 79.7% believe that there is a growing market niche for financial services to the elderly. However, only 47.8% believe that providing these services is an effective means of maintaining an accounting firm's market share, and 25.6% believe that these services will generate revenues sufficient to justify the effort.
ISSN:0027-9978