Multi-state transition model in Continuing Care Retirement Communities (CCRC): A case study.

The Continuing Care Retirement Communities (CCRC) concept is growing rapidly in the world with increasing number of older people in the population. The development of CCRC in Malaysia is still in its infancy, therefore, understanding the CCRC concept and its model could be helpful to provide an alternative residential living arrangement for the elderly in Malaysia. Transition probabilities are crucial in determining the monthly fee charged in the CCRC. In this paper, we conduct a case study and proposed a Markov chains method to determine the transition probabilities of the multi-state transition model for the CCRC based on U.S. data. Then we examine the pattern of the transition probabilities for this CCRC model and its relevancy for Malaysia. [ABSTRACT FROM AUTHOR]