Senior Housing and Assisted Living Asset Management
Our sister company Haven Senior Living has identified a vacuum within the senior living industry. This vacuum is caused by a lack of experienced operators with a mission to advocate on behalf of owners.
Haven Senior Living fills this vacuum with its unique alternative asset.
Introducing Consultative Managed Services
CMS is a hybrid management model that provides consultative managed services for owners that desire professional support and are not in need of full third-party management. The selection of services can be customized to fit the owner’s needs. With CMS, Haven Senior Living becomes a consulting partner helping the community management team deliver excellent service in an ideal culture.
Consultative Operational Services (COS)
- ED support – Weekly call, availability of urgent counseling
- Clinical advisory support
- Policies and Procedures oversight Audit preparation
Consultative Sales/Marketing/Communication Services
- Census Development Strategy
- Sales structure, training, and support. Weekly management call.
- Marketing/branding Reputation Strategy- Collateral review, digital footprint, online presence. Communication – staff, residents, families, community.
- Activity manager support, monthly call.
Consultative Optimizing Talent Selection/Development Services
- Hiring strategies Hiring messaging
- Assessments **
- Management coaching
Consultative Technology Services
Operational technology
- Communication technology
- Marketing technology
- Reporting technology
Consultative Financial Light Services
Budgeting
- Tracking of actual to budget Rents management
- Staffing budgets
Consultative Physical Assets Services
Capital repair plans
- Maintenance strategies
Should an owner decide to engage or replace an existing management company, Haven Senior Living can assist owners throughout the process by vetting alternatives, recommending optimal candidates, and overseeing the transition.
METHODOLOGY
An initial review of the existing contract for management services will be conducted. Review and analysis of community financial performance and comparison to industry norms.
HSL will conduct onsite and in-person interviews with community Executive Directors and other key staff to solicit candid insights and opinions of current performance and factors as well as the community’s relationship and perceptions of the management company (Satisfaction Survey) and effectiveness of same. HSL will conduct either in-person or phone interviews with the management company’s support (regional) staff assigned to the community. Combining all research and information, HSL will provide findings and recommendations specific to the contracted management company’s effectiveness and value being provided.
METRICS
- Key Metrics which will be measured include:
- Key Provisions and Representations Contained in Contract
- Current Management Company’s Resources and Growth
- Current Financial and Operational Performance of Targeted Communities
- Positive/Negative influences
- Number of Fixed Regional Support Staff Assigned
- Frequency, Duration and Effectiveness of Community Visits by Regional Team
- Number of Communities assigned to Regional Staff
- Product Types and Sizes (spread)
- Geographic range of managed communities (travel time)
- Estimated percentage of Regional Time Afforded to Targeted Community
- Percentage of time spent traveling to communities (goes to efficiency)
- Staffing Ratios (# of communities serviced and # of Regional Operations, Clinical, Marketing, Culinary, etc.)
- Responsiveness and Availability of Management Company to Community
- Estimated Percentage of time spent attending training, company meetings, annual conference, etc.
- Ownership interest of management company in other contracted communities
HSL will provide findings and overall ratings for services being provided and the value being received by the owner. Additionally, objective recommendations will be provided to ownership related to potential negotiating points with the management company for use at its discretion.
