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CARF International report helps CCRCs assess financial health

Publication identifies key financial patterns and trends impacting senior living field

October 26, 2017, Washington, DC —It is unusual for organizational leadership to have access to national financial benchmarks in their industry. It is even rarer to find a resource offering expert analysis of what those benchmarks might reveal. Fortunately for leaders of continuing care retirement communities (CCRCs or Life-Plan Communities), there is a valuable resource that serves as an exception to this norm.

In October, CARF International’s Financial Advisory Panel (FAP) released the 2017 edition of its Financial Ratios & Trend Analysis of CARF-Accredited Continuing Care Retirement Communities. Marking its 25th consecutive year of publication, the report includes financial benchmarking and analysis of CARF-accredited CCRCs. What makes this publication unique is the fact these benchmarks have been carefully maintained for validity for over a decade.

The data in the 2017 edition is sourced from the financial data of 154 single- and multi-site CCRCs. Each year, CCRCs participating in the report submit audited financial statements to CARF, which are then aggregated and reviewed by CARF’s FAP to identify key financial patterns and trends impacting the senior living field. The FAP analyzes 17 separate financial ratios for both single-site and multi-site CCRCs across the United States. The data for each financial ratio is presented visually in graph and chart form and includes a written analysis.

The report results from a collaborative effort between CARF International, Ziegler—a privately held investment bank, capital markets, wealth management, and proprietary investments firm, and Baker Tilly—a top 15 full-service accounting and advisory firm. The collaborators intend for CCRCs to use this rich source of information to compare actual and budgeted performance, identify trends, and evaluate performance.

“We encourage organizations to routinely calculate ratios and use these as part of your internal review process as well as share results with key stakeholders,” writes Michael Flynn, Chair of the FAP, in his annual message included in the report. “An advantage of this publication is the calculations are consistently applied against all participating organizations so an apples-to-apples comparison can be made.”

The financial ratios and findings in this publication will be presented this year at the LeadingAge Annual Meeting and Expo in New Orleans. CARF’s Aging Services unit and FAP members invite individuals who are interested in discussing the results to join them on November 1 at 8:00 a.m. for the session titled 51-G Essential Financial Benchmarks for Life Plan Communities. Presenters will provide specific comparative information based on primary CCRC contract type and quartile rankings.

10/26/2017 8:00:00 AM

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