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Assisted Living Strategies for Changing Markets
TABLE OF CONTENTS
SECTION ONE - Developing A Solid Foundation
- 1 The Assisted Living Industry Is Not What It Used To Be!
- The Industry Is Being Defined By Ten Major Trends
- 2 The Changing Continuum Of Senior Living Options
- Responding To A Multiple Product Spectrum
- 3 Market Positioning For The 21st Century
- The Marketplace Is Speaking - Are You Really Listening?
- 4 Effectively Addressing Aging In Place
- Should You Embrace Or Avoid A "Naturally Occurring Assisted Living Community?"
- 5 Developing A New Assisted Living Community
- Successful Outcomes Require Correctly Answering Ten Key Questions
SECTION TWO - The Competitive Battlefield
- 6 The Landscape Of The Competitive Battlefield
- Everybody Is Getting Into Everybody Else's Business
- 7 Nursing Homes And Hospitals Compete For Market Share
- The Real Turf Battle Of The New Millennium
- 8 Control The Referral Pipeline
- If You Don't, Someone Else Will!
- 9 Home Health Care Must Be Restructured
- It's Time For Extensive Re-engineering
SECTION THREE - Physical Design Strategies
- 10 Market-Driven Design Strategies
- In Conceiving New Assisted Living Communities, You Really Get Only One Chance To Do It Right!
- 11 Adaptive Reuse For Assisted Living
- Conversion Dreams Can Turn Into Nightmares
- 12 Investing For Improvements
- Physical Plants Also Age In Place
- SECTION FOUR - Financial Considerations: Capital Costs and Operating Expenses
- 13 Initial Capital Budgeting For A New Community
- Realistic Budgeting Is The Lifeblood Of Successful Projects
- 14 Establishing Realistic Operating Expense Budgets
- Properly Evaluating All Costs Is Critical When Projecting Expenses
- 15 Assisted Living Cost Creep Is Be A Fatal Business Disease
- Many Owner/Operators & Sponsors Are Experiencing a $1 Million-Plus Wake-Up Call
- 16 Staffing Patterns
- To Realistically Control Labor Costs, Focus On Direct Care Staffing
- 17 The Income Statement
- It's The Financial Engine Of Your Community
- 18 Getting Creative With Capital Investment
- Four Simple Strategies That Can Produce Dramatic Results
- 19 Assisted Living As A Full Medical Tax Deduction
- Everyone Has The Right To Legally Avoid Taxes
- 20 Tapping A $1.1 Trillion Resources
- Senior's Home Equity Is A Huge Resource
- 21 Financing Senior Living Projects
- Things Get Complicated As You Approach The Loan Closing Table
SECTION FIVE - Pricing
- 22 Creating An Optimum Pricing Structure
- Win-Win Pricing Strategies For Financial Success
- 23 Tiered Pricing - The Catch-22 Of Assisted Living
- How To Stay Flexible, Fair - And Financially Viable
- 24 Shared Occupancy Delivers Modest Affordability
- Semi-Private Accommodations Require Lifestyle Trade-Offs
SECTION SIX - Affordability
- 25 Affordability Is A Great Idea, But It's More Talk Than Action
- How Low Can We Really Go?
- 26 Affordability Defined
- We Face Huge Social And Economic Challenges
- 27 Affordability Parameters For Today's Assisted Living
- What Sponsors And Operators Need
- 28 What Seniors Can Afford To Pay
- Is "Affordable Assisted Living" An Oxymoron?
- 29 Nine Pathways To Affordable Assisted Living
- There May Be Light At The End Of The Tunnel
- 30 Spend-Down Of Assets
- Finding New Ways To Pay With Creative Uses Of Home Equity & Other Assets
SECTION SEVEN - Special Market Niches And "Carve-Outs"
- 31 Strategic Considerations For Niche Markets
- Zero-Based Thinking About Service Delivery
- 32 Special Care Alzheimer's/Dementia
- A "Carve-Out" Market Niche Whose Time Has Come
- 33 A Holistic Approach To Serving Seniors
- Achieve Market Diversification By Offering Community-Based Services
- 34 The Adult Child Decision Influencer
- The Sandwich Generation Caught In A Squeeze
SECTION EIGHT - Strategic Considerations
- 35 The Agony & The Ecstasy Of Project Fill-Up
- How To Prepare For An Assisted Living Launch
- 36 Managing Assisted Living
- Internal Resource Or Third-Party Contract?
- 37 "I Was Somebody Once"
- The Real Issue Is Resident Quality Of Life...Not Just Resident Satisfaction
- 38 Everybody Needs An Exit Strategy
- "You've Got To Know When to Hold 'em and Know When To Fold 'em"
SECTION NINE - The Future Is Not What It Used To Be
- 39 The Industry Is At A Critical Crossroads
- The Future Is Bright If We Focus On Today's Opportunities
- 40 21st Century Survival, Growth And Profitability
- A "Back To Basics" Checklist For Success
- 41 Turning Around Troubled Communities
- What To Do When Things Go Wrong
- 42 What Happened To The Good Old Days?
- Assisted Living Is Not What It Used To Be
APPENDICES
A Overview of Market & Financial Feasibility
B Mortgage Loan Constants
C The Capitalization Rate Concept