Getting started in ElderCare/PrimePlus.
The AICPA introduced ElderCare Services in 1998 as a unique, customizable package of services offered by CPAs to assist the elderly in maintaining--for as long as possible--their lifestyle and financial independence. The AICPA's ElderCare Services brand was changed to "PrimePlus Services" to make it easier for clients to see the connection between traditional services and a global approach to the services that older clients need. The new focus on PrimePlus Services leverages existing strengths and competencies in cashflow planning and budgeting, pre-and post-retirement planning and insurance reviews and tax planning. There are basically three markets for ElderCare/PrimePlus Services:
1. Older clients with the financial resources to avail themselves of the services;
2. The children of older adults (client or nonclient) with the resources and interest to sea that their loved ones are cared for; and
3. Other professionals who deal with older adults (lawyers, healthcare professionals, etc.).
CPAs are ideally suited to provide ElderCare/PrimePlus Services. Their training brings independence and objectivity to problems and is a tremendous asset.
Developing a Successful Practice
A successful ElderCare/PrimePlus Services engagement depends on the following key factors:
* Developing an appropriate plan that addresses the level of care required.
* Maximizing a client's financial resources available to pay for the needed care and services.
* Maintaining an inventory of local organization from which the care or services will be provided.
* Having an understanding among the care team and the client as to who will provide the care or services.
Providing ElderCare/PrimePlus Services challenges CPAs to consider not only an older adult's financial needs but also, with the help of other specialized professionals, his or her physical, psychosocial and environmental needs and the needs and expectations of the individual's family and other concerned parties.
Practitioners can learn how to develop and expand their practice by attending "The CPA's/CA's Role in an Aging Society: An Expanded Vision for Applying ElderCare/PrimePlus Services in Your Practice," at Caesars Palace, Las Vegas, NV, October 25-26, 2004 (with optional workshops on October 24). More information is posted through the CPA2BIZ Conference Center, at www.cpa2biz.com/CS2000/ Products/CPA2BIZ/Conferences/2004+Eldercare+Conference.htm.
Marketing ElderCare Services
The AICPA and Canadian Institute of Chartered Accountants have developed a PrimePlus Marketing Toolkit to aid CPAs in marketing and promoting their ElderCare/PrimePlus Services. They have also developed two tools to assist practitioners in designing and implementing a strategic marketing plan--the PrimePlus Services Marketing Guide and the PrimePlus Services Marketing Plan. The toolkit can be ordered online at www.cpa2biz.com/CS2000/Products/CPA2BIZ/Publications/Sub+3/CPA+PrimePlus+ Services+Marketing+ToolKit+%28Including+CPA+ElderCare+Services%29.htm, by calling (888) 777-7077 or by faxing (800) 362-5066, AICPA Product Number 022509.
For general information about ElderCare/PrimePlus Services, contact Beth Kaestner at (201) 938-3378 or email ElderCare/PrimePlus@aicpa.org. For specific information about ElderCare/PrimePlus practice issues, access www.aicpa.org/members/div/pfp/eldercare/contact.htm.
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|Title Annotation:||AICPA services|
|Publication:||The Tax Adviser|
|Date:||Aug 1, 2004|
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