• Financial Advisory Panel

  Choosing a retirement community to live in requires a thorough review of the many options available. Key to this decision is an analysis of its long-term viability. CARF's Financial Advisory Panel conducts ongoing analyses within the industry and publishes resources that can be used by provider organizations and consumers alike.

  The Financial Advisory Panel (FAP) comprises leading finance experts, including CFOs and consumers from accredited organizations, investment banking, accounting, and other related firms. The FAP provides input on development of financial standards and strategic educational resources, including:

  • Developing operational indicators.
  • Enhancing financial standards for all areas of Aging Services within CARF's purview.
  • Reviewing aggregate data to identify financial trends and issues in the field.

  The FAP produces two publications, the Financial Ratios & Trends Analysis of CARF-accredited Continuing Care Retirement Communities (produced annually and distributed in the fall) and the Consumer Guide to Understanding Financial Performance and Reporting in CCRCs, which are highly acclaimed resources for service providers and consumers, respectively. Copies of these publications are offered for purchase at the CARF  Online Store.

  Financial Ratios & Trends Analysis of CARF-accredited Continuing Care Retirement Communities: This publication includes information about the financial position of organizations that have been through CARF-CCAC's accreditation process. A valuable benchmarking resource, the information serves as a point of reference for developing internal targets of financial performance.

  Consumer Guide to Understanding Financial Performance and Reporting in CCRCs: Given the long-term commitment involved in choosing a continuing care retirement community (CCRC), this objective resource booklet reviews important criteria for consideration. It describes and compares various fee structures and contract types for CCRCs. It is a collaborative effort of CARF's FAP, provider organizations, and involved residents.

  This  guide may be downloaded for free (PDF) or purchased in printed form from the CARF Online Store.

• Aging services lenders

  Lenders seeking to invest in the senior housing and services sector may have questions about accreditation and how it helps identify an organization that is prepared to meet the terms of a lending arrangement.

  Visit www.carf.org/lenders to get started.

• ---

• In their own words:

  "Accreditation with CARF–CCAC is an invaluable tool helping organizations establish best practices and identifying areas of improvement. It requires an organization to have management controls in place relating to accountability and efficient, effective use of available resources in providing services and continually improving the delivery of its services. It gives organizations a framework for a performance improvement plan, leading to increased operational efficiency and improved quality."
  
  Amy A. Hayman, FAP member
  Managing Director
  Cain Brothers & Company, LLC
  Chicago, IL 

Text: A A A