2019 LARGEST PROVIDERS
8 LARGEST CONTINUING CARE RETIREMENT COMMUNITY (CCRC) PROVIDERS BY NUMBER OF COMMUNITIES
Rank Provider 1 2 Life Care Services Five Star Senior Living
3 Watermark 4 5 6 7 8
Erickson Living
Senior Living Communities Vi
Senior Lifestyle Corp. Midwest Health
CCRC
Properties 73 39 27 19 10 10 9 8
NOTES: This list includes only companies that responded to the request for number of continuing care retirement communities (CCRCs).
Exploring solutions Currently, 62 of the 140 providers listed indicate they accept Medicaid waivers in at least some of their properties, helping to mitigate costs for some families. Of Gardant Management Solu- tions’ (No. 27) 55 communities, for example, 46 accept Medicaid waivers, assisting two-thirds of the residents at those communities. “Our residents are older, sicker, and less financially prepared
than earlier generations,” notes Priority’s Petras. “We have long been a leader in accepting Medicaid waivers in states that have those programs as well as affordable private-pay options. This has been our mission from the time we started in senior living, and we continue to find ways to be involved in projects, whether they are conversions, renovations, or ground-ups, that focus on solutions in the marketplace for affordability.” Changes to Medicare Advantage (MA) plans are offering an
opportunity for providers to provide additional options for seniors. The Centers for Medicare and Medicaid Services recently an- nounced plans to allow MA plans to cover certain non-medical, in-home care. Currently, Sunrise (No. 4) and Erickson Living (No. 7) have their own MA plans, as does Juniper Communities (No. 94), as part of a consortium. “Navigating an uncertain and ever-changing political climate
“Many Americans just don’t plan for senior living,” says Baier.
Brookdale partnered with OnePoll to survey 2,000 Americans and found 58 percent of adult children were worried their parents will need living assistance, while at the same time, 58 percent said talking about senior living was uncomfortable and stressful. Nearly half had not discussed financial planning for their parents’ later years. “Our conclusion is that we can and should do more to help
people move forward productively,” says Baier. “We can do this through more education, more outreach, more communication, and building relationships outside of just our communities.”
is challenging in our industry, which has a direct impact on the financial structure of our industry,” comments Affinity’s Trefzger. “This has led us to explore our own Medicare Advantage plan, which will give us more financial certainty and self-reliance, in order to maintain our focus on the care of our residents.” “The biggest challenge facing our industry is affordability of
our product,” echoes Integral’s Gray. “We have a large segment of the population that will be coming into our communities who won’t be able to afford our services. Our industry needs to be mindful of how we can serve this group of seniors, and how we can serve them at all different price points, not just high end.”
OF THEPROVIDERS ON THE LIST ACCEPT MEDICAID WAIVERS IN SOME FORM
PERCENT IS THE LARGEST GROWTH INCREASE AMONG PROVIDERS ON THE LIST, BY LEGACY RETIREMENT COMMUNITIES/WESTERN STATES
20 SENIOR LIVING EXECUTIVE JULY/AUGUST 2019
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