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EDITOR'S LETTER


PRESIDENT & CEO James Balda jbalda@argentum.org


Making an Investment in Strategy


A recent Argentum survey shows the most signifi cant challenge for the industry cited by respondents is one we all recognize: workforce issues. As a result, an overwhelming number of respondents—91 percent—said they plan to devote more resources to recruiting and retaining employees in 2019. This theme was echoed by executives leading several of this year's largest provider companies. Providing staff recognition and reinforcing a culture of “calling,” as one executive put it, are part of a larger strategy to tackle an


increasingly challenging labor market.


The growing need for care and services for a burgeoning population of aging Americans is indisputable, however, and senior living providers are still engaged in strategic growth and development opportunities to serve that demand. In this issue of Senior Living Executive, The Investment Issue, we reveal the annual largest providers in senior living, based on company reporting (p.6). This year, we have collected and shared data for the largest 125 providers, while calling out the biggest players across assisted living, independent living, memory care, and CCRC operations. New this year, we also provide a list of the largest not-for-profi t companies. We also take a look at the critical need for capital planning strategies—How can companies prioritize capex investments? What might trigger a need for a project? How is the ROI from such projects measured (p.26)? The role of an executive director is substantial in this process—with boots on the ground, they provide invaluable insight into what is needed, when, and why. One ever-changing, but critical community investment priority is improving technology (p.42). Tech infrastructure gaps within senior living can be substantial, and community leaders need to consider how best to invest in technology that meets the needs of residents, staff , and visitors—sometimes a tall order. Other topics covered in this issue include the cost of workforce turnover (p.50), considering quality in acquisitions (p.48), and investing in energy-effi cient infrastructure (p.54), among others.


In the last issue of 2018, we’ll introduce those companies and communities going above and beyond in the realm of building architecture and community design with a highlight of the 2018 Senior Living by Design award winners.


– Jessica McKay Editor


CHIEF OPERATING OFFICER Maribeth Bersani mbersani@argentum.org


CHIEF FINANCIAL OFFICER Gina Mamone


gmamone@argentum.org


VP, QUALITY IMPROVEMENT John Schulte


jschulte@argentum.org


VP, MARKETING Jaclyn Vann


jvann@argentum.org


VP, WORKFORCE DEVELOPMENT Brent Weil


bweil@argentum.org


VP, BUSINESS DEVELOPMENT Brad Williams


bwilliams@argentum.org


VP, GOVERNMENT RELATIONS Paul Williams


pwilliams@argentum.org


DIRECTOR, GOVERNMENT RELATIONS Neil Cohen


ncohen@argentum.org


DIRECTOR, CONFERENCE & EVENTS Ellen Drudy


edrudy@argentum.org


DIRECTOR, MEMBER SERVICES & DATA Kari Horesky


khoresky@argentum.org


OFFICE MANAGER/ EXEC. ASSISTANT Rosa Montgomery rmontgomery@argentum.org


PROFESSIONAL DEVELOPMENT & EDUCATION MANAGER Robert Oliveri roliveri@argentum.org


PROGRAM COORDINATOR Kayla McAlindin


kmcalindin@argentum.org


ACCOUNT COORDINATOR Tiff any Crawford tcrawford@argentum.org


STAFF ACCOUNTANT Olivia Wilson


owilson@argentum.org


EDITORIAL EDITOR


Jessica McKay jmckay@argentum.org


SENIOR MANAGER, PROGRAMS & RESEARCH Sharon Cohen scohen@argentum.org


PUBLICATIONS MANAGER Vatrice Chestnut vchestnut@argentum.org


ART DIRECTOR Rose Thai


rthai@argentum.org


ADVERTISING DIRECTOR OF SALES Katherine Madison kmadison@argentum.org


SENIOR ACCOUNT EXECUTIVE Maura Artman


martman@argentum.org


SUBSCRIPTIONS 703.562.1179


Senior Living Executive, Volume 25, Number 5 (print ISSN 2161- 6698, online ISSN 2161-671X) is published bimonthly by Argentum, 1650 King Street, Suite 602, Alexandria, VA. Periodicals postage paid at Alexandria, VA and additional mailing offi ces. Argentum member companies receive subscriptions for staff as part of their membership. Free controlled subscriptions are also available to qualifi ed individuals in the senior living business.


POSTMASTER: SEND ADDRESS CHANGES TO Senior Living Executive, 1650 King Street, Suite 602, Alexandria, Virginia 22314 703.894.1805. Printed in USA. Copyright 2018. Prior to photocopying items for educational classroom, internal, or personal use, please contact the Copyright Clearance Center, Customer Service, 978.750.8400, 222 Rosewood Dr., Danvers, MA 01923 or check CCC Online at www.copyright.com. Senior Living Executive will not be responsible for the return of any unsolicited manuscripts or photographs.


Download the Digital 2018 Largest Providers List


Visit argentum.org/largestproviders to download a full report of the 2018 largest providers in senior living.


Sponsored by


Copyright ©2018 Argentum. All rights reserved. No part of this publication may be reproduced or transmitted in any form—print, electronic, or otherwise—without written permission from Argentum.


SEPTEMBER/OCTOBER 2018 ARGENTUM.ORG 3


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