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Tables of Contents for Assisted Living Strategies for Changing Markets
Chapter/Section Title
Page #
Page Count
Introduction
i
Acknowledgments
iii
SECTION ONE - Developing a Solid Foundation
The Assisted Living Industry is Not What it Used To Be!
1
14
The Industry is Being Defined By Ten Major Trends
The Changing Continuum of Senior Living Options
15
13
Responding to a Multiple Product Spectrum
Market Positioning for the 21st Century
28
7
The Marketplace is Speaking - Are You Really Listening?
Effectively Addressing Aging in Place
35
10
Should You Embrace or Avoid a ``Naturally Occurring Assisted Living Community?''
Developing a New Assisted Living Community
45
9
Successful Outcomes Require Correctly Answering Ten Key Questions
SECTION TWO - The Competitive Battlefield
The Landscape of the Competitive Battlefield
54
13
Everybody is Getting Into Everybody Else's Business
Nursing Homes and Hospitals Compete for Market Share
67
14
The Real Turf Battle of the New Millennium
Control the Referral Pipeline
81
5
If You Don't, Someone Else Will!
Home Health Care Must Be Restructured
86
6
It's Time for Extensive Re-engineering
SECTION THREE - Physical Design Strategies
Market - Driven Design Strategies
92
22
In Conceiving New Assisted Living Communities, You Really Get Only One Chance to do it Right!
Adaptive Reuse for Assisted Living
114
16
Conversion Dreams Can Turn Into Nightmares
Investing for Improvements
130
19
Physical Plants Also Age in Place
SECTION FOUR - Financial Considerations: Capital Costs and Operating Expenses
Initial Capital Budgeting for a New Community
149
11
Realistic Budgeting is the Lifeblood of Successful Projects
Establishing Realistic Operating Expense Budgets
160
13
Properly Evaluating All Costs is Critical When Projecting Expenses
Assisted Living Cost Creep is a Fatal Business Disease
173
12
Many Owner/Operators & Sponsors Are Experiencing a $1 Million-Plus Wake-Up Call
Staffing Patterns
185
16
To Realistically Control Labor Costs, Focus on Direct Care Staffing
The Income Statement
201
14
It's the Financial Engine of Your Community
Getting Creative With Capital Investment
215
6
Four Simple Strategies That Can Produce Dramatic Results
Assisted Living As a Full Medical Tax Deduction
221
13
Everyone Has the Right to Legally Avoid Taxes
Tapping a $1.1 Trillion Resource
234
7
Senior's Home Equity is a Hugh Resource
Financing Senior Living Projects
241
11
Things Get Complicated as You Approach the Loan Closing Table
SECTION FIVE - Pricing
Creating an Optimum Pricing Structure
252
10
Win - Win Pricing Strategies for Financial Success
Tiered Pricing - The Catch- 22 of Assisted Living
262
14
How to Stay Flexible, Fair - and Financially Viable
Shared Occupancy Delivers Modest Affordability
276
14
Semi-Private Accommodations Require Lifestyle Trade-Offs
SECTION SIX - Affordability
Affordability is a Great Idea, But It's More Talk Than Action
290
3
How Low Can We Really Go?
Affordability Defined
293
7
We Face Huge Social and Economic Challenges
Affordability Parameters for Today's Assisted Living
300
5
What Sponsors and Operators Need
What Seniors Can Afford to Pay
305
10
Is ``Affordable Assisted Living'' an Oxymoron?
Nine Pathways to Affordable Assisted Living
315
19
There May be Light at the End of the Tunnel
Spend-Down of Assets
334
20
Finding New Ways to Pay With Creative Uses of Home Equity & Other Assets
SECTION SEVEN - Special Market Niches and ``Carve-Outs''
Strategic Considerations for Niche Markets
354
7
Zero-Based Thinking About Service Delivery
Special Care Alzheimer's/Dementia
361
9
A ``Carve-Out'' Market Niche Whose Time Has Come
A Holistic Approach to Serving Seniors
370
8
Achieve Market Diversification By Offering Community-Based Services
The Adult Child Decision Influencer
378
12
The Sandwich Generation Caught in a Squeeze
SECTION EIGHT - Strategic Considerations
The Agony & the Ecstasy of Project Fill-Up
390
11
How to Prepare for an Assisted Living Launch
Managing Assisted Living
401
13
Internal Resource or Third-Party Contract?
``I Was Somebody Once''
414
8
The Real Issue is Resident Quality of Life...Not Just Resident Satisfaction
Everybody Needs An Exit Strategy
422
8
``You've Got to Know When to Hold `em and Know When to Fold `em''
SECTION NINE - The Future is Not What it Used to Be
The Industry is at a Critical Crossroads
430
12
The Future is Bright if We Focus On Today's Sales & Marketing Opportunities
21st Century Survival, Growth and Profitability
442
13
A ``Back to Basics'' Checklist for Success
Turning Around Troubled Communities
455
8
What to Do When Things Go Wrong
What Happened to the Good Old Days?
463
Assisted Living is Not What It Used to Be
Appendices
A Overview of Market & Financial Feasibility
469
B Mortgage Loan Constants
482
C The Capitalization Rate Concept
484