CCRCs ‘Without Walls’ to Surge, Adding New Opportunity

One-third of nonprofit continuing care retirement communities (CCRCs) that do not already have a continuing care at home (CCaH) program are considering offering one within the next two years, preliminary results from a soon-to-be published report show. Those results bolster past research that show a rapidly growing number of organizations are offering CCaH program services. CCaH […]

Omega Communities Plans $200M Mega-Church Model Pipeline

A relative newcomer to the senior housing space is making headway with nearly 10 projects in its mega church-model pipeline thanks to assembling a team of senior housing industry mainstays. Omega Communities, LLC was founded by Pat Trammell, Jr., the chairman and CEO, around three years ago. The concept for each senior living community project includes […]

Senior Living Provider Entry into Home Health Takes “All or Nothing” Approach

While entering the home health industry makes sense for senior living providers, a considerable amount of due diligence is required before plunging into the marketplace, said panel members on Thursday during Senior Housing News’s webinar, Time for Senior Housing Operators to Get Into Home Health Care? A massive aging population offers an incentive for senior living […]

Obamacare Keeping Senior Housing Execs Up at Night

Senior housing executives are losing sleep over the universal health insurance coverage provision of the Affordable Care Act (ACA) as they try to predict the eventual costs to their companies. “The ACA is one of those things that’s keeping me up at night,” said Pat Mulloy, CEO of Kentucky-based Elmcroft Senior Living, during a general […]

Fitch: No Impact to CCRC Ratings Expected from FASB Entrance Fee Refund Changes

Changes issued earlier this year by the Financial Accounting Standards Board (FASB) regarding refundable entrance fees for continuing care retirement communities (CCRCs) aren’t expected to impact community ratings, according to a new Fitch Ratings report, but consumer reassurance may be required as a result. The change has to do with whether income from refundable entrance fee […]

Accounting Firm Discusses Costs of Starting CCRC-At-Home Program

Providing a continuum of care services outside of the traditional bricks-and-mortar setting can be way to increase utilization and occupancy at senior living communities, but it’s paramount for providers interested in starting these types of programs to do their homework, said Sarah Spellman, a director at top-ten accounting firm CliftonLarsonAllen LLP during an interview with not-for-profit […]

Changes Made to Accounting Standards for Refundable CCRC Entrance Fees

The Financial Accounting Standards Board decided during its May 30 meeting to finalize some amendments changing the way continuing care retirement communities (CCRCs) account for refundable entrance fees. The amendments will be included in a separate Accounting Standards Update in July 2012, and they could affect certain communities depending on their entrance fee refund policies.  […]