realm economic challenges show
TRANSCRIPT
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Economic Challenges: Insight on Issues that Impact Future Viability
Robin Eggert, MA and Judy Jewison, OP, PhD
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Taken alone, data is simply that:
data.
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However…
when data is woven together, it tells a compelling story about the changing realities facing women religious.
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This suitcase holds the most up-to date data available at the time of production, and is displayed in easy-to-use maps, graphics and tables.
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DemographicsDemographic Changes Create an Urgent Need.
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35%
2008:
Members Over Age 75
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Fast Forward
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76%2023:
Members Over Age 75
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Members Over Age 60
2007: 82%Over 60 Under 60
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What does this meanfor your community?
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Fewer…sister driverssister companionssister-provided serviceswage earning sisters
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What does this meanfor your community?
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Decrease in contributed service by members
increase in paid staff
=
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Changing Expectations
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Competing Emotional Challenges
Sisters living in small communities today
Sisters who have spent the majority of their lives in large, institutional settings
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Changing Expectations
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Are sisters coming to the infirmary…Frailer? Older? In fewer numbers?
Are the number of sisters in your infirmary decreasing?
Is your cost of care increasing?
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Aging TrendsAging-in-Place
Average Length of Stay
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The American Elder Reality
14% of Americans 85+ live in a skilled nursing facility
86% of Americans 85+ continue to live in a
place they call HOME.
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American Reality
Nursing facility residents, beds and occupancy rates have remained constant
over the last 5 years…
despite an increase in the older population.
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SummaryNational Cost of Care
National Findings Skilled Nursing Assisted Living
National Your Community
National Your Community
2008 Average Annual Rate/Person
$ 77,380 $ _______ $ 36,372 $______
2008 Median Annual Rate/Person
$ 73,000 $ _______ $ 34,800 $ _______
2008 High Average Annual Rate/Person
$ 210,605 $ _________ $ 56,496 $ _______
2008 Low Average Annual Rate/Person
$ 46,355 $ _________ $ 23,760 $ _______
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FACT:Most Americans Cannot Afford Private Pay Skilled Nursing.
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FACT:The Majority of U.S. Nursing Homes have between 100-199 beds.
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Data demonstrates it is NOT financially efficient
to operate a skilled nursing unit
for less than 50 residents.
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Skilled nursing needs to be
50+ beds to be operationally efficient.
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FACT: 74% of females ages 75-84 will be in skilled care less than one year.
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Operational Competency
Opportunities for Enhancing Quality of Life
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Is it your Core Competency
to run a retirement center?
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= SENIOR CORE COMPETENCYCHARISM + TRAINING
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Question:Do you have the “Centers of Excellence” necessary to operate a retirement center?
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Centers of Excellence
1. Clinical 2. Social Work 3. Dementia 4. Wellness 5. Life Enrichment
1.
2.
1.
2.
1.
2.
1.
3. 3.
4.
2.
1. 3.
4.5.
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Questions to ask yourself• How can we be creative & responsible in both caring for
sisters and supporting our ministries?• How can we keep sisters as independent as possible for
as long as possible?• How can we engage sisters in such ways that their lives
are integrated into ministries?• How can we embrace vital living?• How do we empower sisters to be responsible for their
healthy living?• How can we reduce our cost of care/operations?
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FinancialThere is a strong economic
incentive for action…
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Unfunded Retirement LiabilityOf the 681 religious communities providing data to NRRO, only
54 are adequately funded.
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Unfunded Retirement Liability
Of the 681 religious communities providing data to NRRO,
181 are less than 20% funded.
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Unfunded Retirement LiabilityOf the 681 religious communities providing data to NRRO,
258 are less than 40% or less funded to care for their elderly.
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Imagine the REALM of Possibilities
Innovative Approaches
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Bridging the Gap
Your Current
Situation
Your Dream for the Future
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In order to Bridge the Gap
You need to go through this
process
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For the sake of life.For the sake of mission.
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What REALM wants Women Religious Leaders to know…• Honor stewardship• Release energy for mission• Be transparent• Collaborate• Transition “retirement” - embrace “refirement”• Scenario planning and systems thinking to support
wise actions• Value evidence-based decision making
• The time is now.
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Robin Eggert, MAPresidentSo…
Are you looking to repack for the future?
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Sources1. National Religious Retirement Office (NRRO) 2007 Annual Report.
2. AARP Across the States 2009
3. MetLife Market Survey of Nursing Home and Assisted Living Costs, October 2008
4. Georgetown University Long-Term Care Financing Project, “National Spending for
Long-Term Care” fact sheet, February 2007
5. CDC/NCHS, National Nursing Home Survey, Selected Years
6. Centers for Disease Control and Prevention
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Explore new directions.
Move beyond the REALM of Possibilities.