Most senior living providers today have wholeheartedly adopted a private payment model that offers control and steady financial rewards based on service-enriched housing. Despite the success of this approach, it might be time to look at new options.
Senior housing—namely independent living and assisted living—has intentionally elected this private-pay-only model, enjoying its benefits and mostly avoiding federal oversight and reimbursement risk. In essence, senior housing has never had to play by anyone else’s rules.
Today, a boom in the number of beneficiaries enrolling in private Medicare Advantage plans, in conjunction with a major push among policy makers and private companies toward more coordinated and value-based care provided in the home, is positioning senior living as a very attractive health care partner and opening up potential new revenue streams.
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