Recorded January 21, 2009
Pressure on operating margins has been growing as costs escalated during 2008. Census and revenues have been impacted by the housing crisis and economic downturn. The seniors housing and care industry, while still in relatively good shape, may feel even more pressure in 2009.
This educational offering has been approved for 1 clock hour by the National Association of Boards of Examiners of Long Term Care Administrators (NAB).
Order the CD or Transcript Now!
Providers can take action today to ensure that they have sufficient operating cash flow to weather the current financial storm and continue to provide quality care. Successful strategies exist to help control, and in some cases reduce, operating costs, without compromising care. In addition, some communities are 100% occupied without giving away free rent. There are also financial tools available to make it easier to get residents in the door, especially when they are dealing with their own economic uncertainty. Find out what is working in today’s environment from our panel of experts.
Here’s just some of what you’ll learn during this in-depth, 90-minute audio conference:
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Decreasing staff turnover to increase stability and avoid unnecessary costs. |
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Cutting corners without compromising quality. |
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How to deal with tomorrow’s operating problems today. |
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What are the successful providers doing in today’s market? |
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How to boost your census without giving away free rent or discounts. |
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Plus, a chance to ask the experts your own questions to help you increase your cash flow and operating margins. |
...and much more!
Featured Speakers:
Jim Moore, President,
Moore Diversified Services, Inc. has over 40 years of industry experience, and his company has served literally thousands of national and international clients for the past 37 years. The company is primarily involved in market feasibility studies, detailed financial pro forma analysis, strategic planning, operations analysis and investment advisory services. Jim has personally conducted over 2,000 major seniors housing and health care consulting engagements in over 750 markets across 49 states—experience that is unmatched in the industry today. Jim is the author of several books on seniors housing. His book Assisted Living 2000—Practical Strategies for the Next Millennium was an industry best-seller. His latest book, Assisted Living Strategies for Changing Markets, was released in May, 2001. Additionally, Jim writes a monthly column, “Senior Housing”, for Contemporary Long Term Care Magazine, and provides articles on a regular basis for other leading senior housing and health care publications. Jim writes a nationally syndicated senior housing and health care column provided directly to senior living communities and for inclusion in major state association newsletters and periodicals. Jim is currently active in five major industry trade associations and serves on the advisory boards of several seniors housing and health care organizations. Jim has been a guest lecturer on “The Business of Seniors’ Housing and Care” at Johns Hopkins University’s Graduate Division of Business & Management and The Erickson School of Aging Studies at The University of Maryland. Jim holds a degree in Industrial Technology from Northeastern University in Boston and an MBA in Marketing and Finance from Texas Christian University in Fort Worth, Texas.
Jennifer Schwalm, Principal,
Parente Randolph, LLC has more than fifteen years of experience assisting senior living clients and lenders--in both the public and private sectors--with business solutions. These include coordinating new developments and campus repositioning strategies to revitalize aging facilities and expand services based on financial and market driven strategies; benchmarking and identification of “best practice” solutions related to operations, development and regulatory issues; facilitating merger and acquisition transactions; participating in due diligence engagements; and directing prospective reporting engagements. Her expertise encompasses continuing care retirement communities, independent living, assisted living, nursing facilities, and home care services. Prior to joining Parente Randolph, Jennifer was at KPMG LLP for approximately 12 years where her career progressed to Director in the Senior Living Services Practice. Jennifer has spoken before professional and educational groups at numerous conferences, including the American Association of Homes and Services for the Aging (AAHSA), PANPHA (Pennsylvania), NJANPHA (New Jersey), and various other state associations and provider affiliation groups. Jennifer earned a Bachelor of Science degree in Accounting from Shippensburg University. She is a member of the American Institute of Certified Public Accountants, the Pennsylvania Institute of Certified Public Accountants, the American Association of Homes for the Aging and the Pennsylvania Association of Nonprofit Homes for the Aging. She is licensed as a Certified Public Accountant in Pennsylvania.
Elias P. Papasavvas, Founder and CEO of
Elderlife Financial Services, has focused his career on enhancing access to senior living. He spent over a decade studying the impact of consumer financing in higher education and numerous other service- and product-oriented industries prior to creating a consumer financing program for senior living consumers and for the providers who serve them. Consumer financing has been proven to increase sales and consumer access in just about every industry, and can do the same for senior living. Elias executed a successful pilot which saw individual communities' census increase by 1% to 5% when implemented appropriately. He subsequently launched Elderlife Financial Services to provide convenient financing options for senior living to families in the 48 contiguous states. Before entering the senior living industry, Mr. Papasavvas was a CPA in the Banking and Real Estate Mid-Atlantic Division of Arthur Andersen. He holds a B.S. degree from George Mason University and a Master's of Science in Accounting from the McIntire School of Commerce at the University of Virginia.
Daniel H. Gray, President, Continuum Development Services began his consulting practice in 1988 to provide senior services organizations with operational auditing, direct management services, and development of community-based services. In 2002, Mr. Gray established Continuum Development Services (CDS) and has worked with more than 100 providers across the country. He has conducted operating reviews, achieved turnaround of two retirement communities and a large nursing home, and provided technical experience to health systems and long-term care organizations to develop PACE (Program for All Inclusive Care for the Elderly) and Lifecare-at-Home programs. He regularly provides his expertise on projects with the industry’s leading accounting firms and is a past Board member of two of the largest provider associations serving seniors: American Association of Homes and Services for the Aged (AAHSA) and Catholic Health Association. He is a frequent speaker at industry conventions and forums such as AAHSA, Ziegler, and National Pace Association conferences. Mr. Gray is a licensed administrator in Tennessee and has held administrator licenses in Wisconsin, Missouri, Minnesota and Florida. He has a Master of Science degree in Long Term Care Administration from North Texas State University, Center for Studies in Aging; a Certificate (Masters Level) in Gerontology from the University of Southern California, Los Angeles, Leonard Davis School of Gerontology; and a Bachelor of Science degree in Psychology from Bryan College, Dayton, Tennessee.
Theresa (Terry) Kolaz, has served as President and CEO of the
Lutheran Community at Telford since October 2003. Kolaz established a proven track record in senior housing and health care management based on thirty years of earned promotions. Beginning her career at the age of sixteen as a dishwasher, she worked her way through the career ladder serving as laundry aid, activity aid, receptionist, secretary, and bookkeeper prior to receiving her nursing home administrator license in 1991. She served as the Healthcare Administrator for three for-profit healthcare systems located in Tennessee and Illinois before entering the non-profit, faith-based arena. Kolaz's experience includes Medicaid and Medicare certified facilities operations; Medicare unit start-up; rehabilitation unit start-up; independent living community start-up; assisted living unit start-up; full-scale continuing care retirement communities operations; corporation restructuring; and operations enhancement. She has had oversight of facilities as small as 84 beds to sites as large as 380 units with annual operating budgets as high as $16,000,000; total assets as high as $62,000,000; endowment funds as high as $7,000,000; and as many as 325 employees. Kolaz received a Bachelor of Arts in Elementary Education with a Minor in Mathematics and Language Arts from Illinois State University, Normal, Illinois.
Stephen M. Monroe, the audio conference moderator, is the Managing Editor and a Partner at Irving Levin Associates, Inc. Established in 1948, Irving Levin Associates is a research and publishing firm that specializes in the seniors housing and health care investment markets, with several newsletters and acquisition reports. Mr. Monroe has been with the company for 20 years and has published more than 50 articles dealing with various aspects of investing in the health care and seniors housing arena. In addition, he is the editor of The SeniorCare Investor, a monthly newsletter, and The Senior Care Acquisition Report, an annual study of acquisition trends in the senior care market. In 2007, he spearheaded the launch of Senior Living Business, a monthly newsletter, and serves as its executive editor. Prior to joining the company, Mr. Monroe was a vice president of investment banking at Kidder, Peabody & Co. in New York City where he completed a variety of public equity, bond and merger and acquisition transactions.
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