There are two distinct types of facilities that fall into the category of assisted living management: hospitality and medical. The more common of these two facility types is medical, which experienced a boom in growth during the mid-1990s.
While there are licensing standards for medical assisted living facilities that are also Skilled Nursing Facilities, at this time there is no countrywide standard for assisted facility licensing. Therefore, it is up to each assisted living manager to become familiar with the regulations in their own state and ensure their facility meets licensing requirements.
Assisted living managers can utilize a variety of models to package and price assisted living services. For example, some operators tend to include most of the provided services in a daily or monthly flat rate, while others prefer charging for “add-on” services more geared to the amount of care needed.
Senior Living Management can bring many services to the table such as operational audits, customer service and sales training, mystery shop, competitive analysis, job description review, risk management and policy and procedure evaluation.
Auditing and analyzing what is currently in place and what is best for the residents is a crucial first step. Before the right fee schedule is agreed upon, the residents and their daily activities should be reviewed to see what each resident needs and as a result how much a service should cost. To ensure that the pricing is on par with the needs of the residents and the facility as a whole, each resident should be reassessed frequently to ensure the cost and services are appropriate. Senior Living Management is proud to partner with your organization to do just this.
One of our trained senior living consultants can advise you on the best pricing method for your facility based on its location, services offered, quality of facility, etc. They can help you with this evaluation of the residents and also the interaction with any skilled nurses on staff and other team members. We can conduct a Market and Competitive Analysis to determine the right price points and more about your competitive position compared to other facilities.
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