Steps to turn around an underperforming memory care facility
Direct answer
Turning around an underperforming memory care facility starts with stabilizing leadership and staffing, then auditing care quality and compliance, rebuilding census through referral sources, reviewing rates, and tracking NOI monthly. Owners should then decide whether to keep improving, refinance or sell, because every $1 of added NOI adds about $12 to $17 of value.
What to know
Stabilize first: a strong executive director and memory care leader, consistent staffing and less agency use.
Audit compliance: secured units, dementia training, care plans, medication management and survey findings.
Rebuild census: relationships with hospitals, physicians and placement sources, plus a clear memory care program.
Review rates and costs against local competitors.
Measure: occupancy, labor as a share of revenue and NOI, month by month.
How Haven helps
Haven advises owners on turnarounds and on whether to improve, refinance or sell. Read our memory care turnaround guide.
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