how to make affordable assisted living work for you # alfa2014
TRANSCRIPT
How to Make Affordable Assisted Living Work for You
#ALFA2014
WHAT IS AFFORDABLE ASSISTED LIVING?
State Perspective Generally Called Assisted Living or Residential Care
Requires Executive, Legislative and Program Support
Medicaid Waiver(s) - Project vs. Voucher-Based
Medicaid State Plan
Interest in AAL Growing Nationally
#ALFA2014
WHY IS AAL NEEDED?
Demand7% to 14% of households are headed by 75+
40% to 50% of those households have incomes less than $25,000
38% of this population needs assistance with 3 or more ADL’s
15,465 nursing homes, 1,646,302 beds in 2011
(31,100 AL facilities, 971,900 units in 2011)
How to Capitalize a New AALAffordable housing financing, LIHTCs, grants, low interest loans
Why Develop and Operate AAL?Expand customer reach deeper into existing markets
#ALFA2014
THE OPPORTUNITY
#ALFA2014
WHAT SUCCESS LOOKS LIKE
Economic BenefitsDevelopment and management fees
Free Cash Flows
Long-term Ownership
#ALFA2014
Victory Centre of Vernon Hills, Exterior Victory Centre of Vernon Hills, Living Room
KEY OPERATIONAL ISSUES
1. State/Federal Program Design?
2. Payment Rate?
3. Payment Cycle?
4. Role of Gatekeepers?
5. Barriers to Property Licensure/Certification?
6. Barriers to Medicaid Eligibility?
#ALFA2014
WHAT SUCCESS LOOKS LIKE
#ALFA2014
Heritage Woods of South ElginSt. Anthony of Lansing
FUTURE OF AFFORDABLE ASSISTED LIVING
#ALFA2014
Explosive Demographic TrendsManaged Care Attempting to Bend the Cost Curve
Incentivized Payor
Reckoning with Entitlement ProgramsRegulatory Expansion PressureKeeping AL Defined as HCBS
Rod BurkettPresident & CEO, BMA Management, Ltd.
[email protected], ext. 230
Jerry FinisCEO, Pathway Senior Living, LLC
[email protected] 847-768-5104
Wayne SmallwoodExecutive Director, Affordable Assisted Living
217-525-0700, ext. 124
#ALFA2014