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Monitoring the Financial Health of Your Assisted Living Residence

As the economic landscape has eroded recently many assisted living facilities are having a difficult time staying full. When their census and their incomes decline, there is a great temptation for these facilities to cut corners. It is important to keep an eye out for changes that might indicate financial problems at your parent's assisted living residence.

Many families who previously would have been happy to have their elder in a good assisted living residence have decided to put off the move for the time being because their elders' homes are not selling and their savings are now so much smaller. Many families have moved their elders back home in an effort to control expenses. As a consequence, occupancy rates in assisted living residences both large and small are falling.

Assisted Living is a costly and labor-intensive business. As occupancy rates fall below 90% there is a great temptation among owners to cut staffing and operating costs wherever they can.

As a concerned caregiver you would be wise to put on your Sherlock Holmes cap when you visit. Watch for these signs that your loved one's assisted living residence may be having some financial difficulties.

Is the facility just as immaculate as it was when you first visited?

Maintenance cutbacks will quickly become apparent in the little things. Are the public bathrooms still clean and sweet-smelling? Are the doors and windows clean and polished? Do you see dust bunnies in the corners? Is the dining room floor swept and mopped between every meal? Are your parent's room and bath being cleaned as well and as often as in the beginning?

Is the food still as good as it was in the beginning, and are portions still more than adequate?

Food service is one of the first things to be cut when a facility is having financial difficulties. Have the number of menu choices been reduced? Is it obvious that fewer entrees are being made from scratch? Has the evening hot meal been replaced with a cold sandwich or salad? Has the number of wait staff been reduced, making residents wait longer to be served and reducing the amount of assistance they receive? Make it a point to visit your parent in the dining room regularly. Even if you don't eat, you can observe.

Is the number of employees you see on duty the same?

The number of evening and nighttime employees is usually the first to be cut. Ask your elder if the wait for help after pushing the call bell has increased. Has the number of aids who help with baths decreased so that your elder has to wait longer in the morning?

Are there fewer activities?

Has the activity director vanished? Has he or she been replaced by an employee who has many other duties, so the number of activities has declined and they are less stimulating?

Has the facility cut back on scheduled excursions and local trips for shopping and other elective outings?

Grab a copy of the calendar every time you visit.

Is the staff still cheerful and upbeat?

Employees who are overworked and worried about their jobs will have a hard time hiding their stress. Listen carefully as you walk past break rooms or other places where staff may stop to talk or gossip among themselves.

Has your parent heard "griping" from employees who vent when they come into their rooms? This is unacceptable, but not unusual when an elderly resident is more than willing to lend a sympathetic ear.

If you detect warning signs that all may not be financially well with your parent's assisted living residence, do some deeper digging. Many of these facilities are owned by large corporate chains. "Google" the corporate parent and see what comes up on the news and investing sites. Check "Yahoo Finance" for the same kind of information.

If your state maintains a website that shows how assisted living facilities have performed on their most recent inspections, check there. A facility in financial trouble will often have an increasing number of "deficiencies."

While there haven't been many large facility closures yet, you don't want to subject your parent or yourself to an emergency move should your assisted living residence suddenly decide to shut their doors. If you are getting seriously bad "vibrations," it might be a good idea to at least check out your other options.

 



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