Essential analytics for thriving in Senior Living
MC 38%
Ideally, we would all have the time and tools necessary to measure success in our jobs. However, in the real world that confronts Senior Living operators of all sizes, employees are asked to wear many hats and reporting on organizational effectiveness is just another task on the daily, weekly or monthly worklist. Building or simply using an analytics system can be a major time investment toward which many operators will struggle to allocate proper resources and attention.
IL 3.65% AL 58.35%
Senior Living leaders must be empowered with timely information that allows them to thrive while also being as efficient as possible given the time constraints. Senior Living has a reputation of being notoriously slow to adopt technology that other industries have long since made part of everyday life and analytics is no exception. However, analytics is now a compulsory
component for successful operators and those who fail to embrace it will be at a disadvantage compared to peers who do.
Marketing, financial and clinical leaders must be empowered with the right information at the right time and in the right format. Achieving that level of sophistication requires a technology partner with the core systems for the electronic health record and financial/billing management, but also with solid analytics that accompany the entire package.
Table stakes for analytics
A good analytics system will provide several metrics at a glance, allowing leaders to easily answer questions such as:
• Census/Occupancy – Who's in the community(s) and what is our overall occupancy percentage for today, month to date or over the last 12 months? Which care settings (Independent Living, Assisted Living or Memory Care) have the highest occupancy percentage? What is our payer mix?
• Move Ins/Outs – What are the current and long-term trends for move-ins and outs? What reasons are driving move-outs? Have move-ins consistently exceeded move-outs across all care settings? What units are we struggling to fill or keep full over time?
• Incidents – What type of incidents have occurred most frequently over the past 12 months? Is one Community seeing a greater number of falls than another? How can we mitigate risk across our portfolio based on historical incident patterns?
52 SENIOR LIVING EXECUTIVE / ISSUE 6 2017
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