March 29, 2018
But first, let’s revisit the situation: The elderly population is growing, making these stats all the more discouraging Like any serious business, it’s important that owners and managers perform legitimate assessments throughout the year to gauge the health of their operations. This is the only way to guarantee you are shaping your care model to meet the industry’s ever-changing standards, thereby giving staff the best chance at continued success. Top 5 Questions for LTCs 1. How do you compare to competitors? Operating in a vacuum is a surefire recipe for failure. Smart administrators are constantly stacking their facilities against others, sizing up cost, care quality and hospital connections. A solid reputation equates to more referrals, so it’s important to know the stats on lead competitors. 2. What are the standout services of your company? Any given organization has certain strengths and weaknesses. Does your facility thrive at rehabilitation, but lack the necessary resources for quality dementia care? Embrace and promote what you’re ‘good’ at, and humbly accept what you’re not. 3. Do you have access to capital for improvements or emergency? Depending on the nature of your facility’s debt, you may be placing it in greater jeopardy. Assess your situation with the bank, and realize that owing too much money may result in lack of funding in the event of unexpected hardship. 4. Have you made the electronic migration? Many fallen LTCs failed to integrate digital technologies, resulting in slower operations and frustrated staff. Has electronic recordkeeping proved a hindrance—or help— to your caregivers? The honest answer to this question is integral to your future triumphs. 5. Survey says? Your facility’s star rating means more than you realize. Keep a watchful eye on your state’s assessment criteria and reporting requirements, and heed other forms of public review online and elsewhere. More and more people rely on these measures to determine the best care for themselves and loved ones. *Stats aggregated over a 10-year period by Assisted Living Today Rate of nursing home closures in New York & New

But first, let’s revisit the situation: The elderly population is growing, making these stats all the more discouraging Like any serious business, it’s important that owners and managers perform legitimate assessments throughout the year to gauge the health of their operations. This is the only way to guarantee you are shaping your care model to meet the industry’s ever-changing standards, thereby giving staff the best chance at continued success. Top 5 Questions for LTCs 1. How do you compare to competitors? Operating in a vacuum is a surefire recipe for failure. Smart administrators are constantly stacking their facilities against others, sizing up cost, care quality and hospital connections. A solid reputation equates to more referrals, so it’s important to know the stats on lead competitors. 2. What are the standout services of your company? Any given organization has certain strengths and weaknesses. Does your facility thrive at rehabilitation, but lack the necessary resources for quality dementia care? Embrace and promote what you’re ‘good’ at, and humbly accept what you’re not. 3. Do you have access to capital for improvements or emergency? Depending on the nature of your facility’s debt, you may be placing it in greater jeopardy. Assess your situation with the bank, and realize that owing too much money may result in lack of funding in the event of unexpected hardship. 4. Have you made the electronic migration? Many fallen LTCs failed to integrate digital technologies, resulting in slower operations and frustrated staff. Has electronic recordkeeping proved a hindrance—or help— to your caregivers? The honest answer to this question is integral to your future triumphs. 5. Survey says? Your facility’s star rating means more than you realize. Keep a watchful eye on your state’s assessment criteria and reporting requirements, and heed other forms of public review online and elsewhere. More and more people rely on these measures to determine the best care for themselves and loved ones. *Stats aggregated over a 10-year period by Assisted Living Today Rate of nursing home closures in New York & New

4.9%-9% Rate of nursing home closures in New York & New Jersey