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Senior Housing
Browse our posts and articles on the topic of Senior Housing. Use the navigation at the bottom of the page to view older content of interest.
Friday, October 3rd, 2008
More than 90 percent of nursing homes were cited for violations of U.S. health and safety standards last year, and for-profit homes were more likely to have problems than other types of nursing homes, federal investigators say in a report issued on Monday.
About 17 percent of nursing homes had deficiencies that caused “actual harm or immediate jeopardy” to patients, said the report, by Daniel R. Levinson, the inspector general of the Department of Health and Human Services.
Problems included infected bedsores, medication mix-ups, poor nutrition and abuse and neglect of patients.
Inspectors received 37,150 complaints about conditions in nursing homes last year, and they substantiated 39 percent of them, the report said. About one-fifth of the complaints verified by federal and state authorities involved the abuse or neglect of patients.
About two-thirds of nursing homes are owned by for-profit companies, while 27 percent are owned by nonprofit organizations and 6 percent by government entities, the report said.
Source: International Resource Report
Tags: Nursing Home, Nursing Home Abuse Posted in Nursing Home, Nursing Home Abuse, Senior Housing | No Comments »
Monday, September 29th, 2008
Sunrise Senior Living, one of the largest providers of senior living services
with more than 440 communities worldwide, announced today that it is bringing
an innovative independent senior living community to Colorado’s Front Range.
The Stratford at FlatIrons leverages Sunrise’s nearly three decades of serving
seniors by combining this expertise with a distinguishing approach to senior
living that will offer residents and their families the type of active,
fulfilling lifestyle they have come to expect. While Sunrise currently
operates 10 assisted living communities in the state, this is the first
independent living community that will also offer assisted living and a full
range of healthcare services.
The Stratford, to be located at 400 Summit Blvd., in the popular FlatIrons
area, is a full-service, amenity-rich senior living community. Through its
broad offering of services and amenities, coupled with on-site assisted
living, memory care programs, rehabilitation and in-home health care
coordination, The Stratford will be well positioned to cater to seniors with
varying needs.
With about 130 employees, The Stratford will feature a Southwestern motif
and mountain-like design. The community is set to debut in May 2009 and
recently opened its sales gallery at 549 FlatIron Blvd., Unit B in Broomfield,
80021, (303) 466-2422. At the sales gallery, visitors can view floor plans
and learn more about the broad range of features and amenities that can be
found at The Stratford, including:
– Concierge services to assist residents with requests such as dining and
entertainment reservations, transportation arrangements, appointment
reminders, dog walking, personal errands and much more
– Maintenance and housekeeping services
– State-of-art fitness center and personal training as well as in-home
exercise programming
– Full-service spa and salon
– A 60-seat theatre for movies and theatrical performances
– Art Studio
– Casual and formal dining venues including a bistro bar
– In-room food service
– Private dining rooms and catering for parties and events
– Extensive library
– Club and game room
– Business Center and wireless internet access areas
– In-home care coordination and support services
– Geriatric case management
– Outpatient rehabilitation clinic
In addition to on-site assisted living, memory care and in-home health
care coordination, The Stratford will also offer rehabilitation services;
comprehensive health and wellness programs, which include screenings, support
groups and wellness lectures; 24-hour voice-to-voice emergency response
systems; and 24-hour security monitoring.
“The Stratford at FlatIrons is an exciting, new community for Sunrise
whereby we are integrating our long-standing experience as a pioneer in senior
living with a full menu of exceptional amenities, personalized services and a
host of life-enriching options for residents — all of which will be
seamlessly offered under one roof. We believe The Stratford is a community
that seniors and their families will find exciting, appealing and comfortable.
The Stratford is distinguishing itself in the marketplace based on its ability
to cater to independent seniors who take comfort in knowing that they have the
opportunity to live life on their own terms at this full-service, all-
encompassing community,” explained Jennifer Teague, executive director for The
Stratford.
Tags: Assisted Living, Senior Housing, Senior Living Posted in Assisted Living, News & Articles, Senior Alternatives, Senior Housing | No Comments »
Thursday, September 18th, 2008
Baby boomers have had a huge impact on society over the years. Now a University of Florida study shows that generation’s about to dramatically change long-term care for the elderly forever. Researchers looked at trends expected in nursing home and assisted-living over the next few decades. Baby boomers will shape those years and expert Stephen Golant says care providers will have to adapt.
Golant: “The future assisted living providers, they’re going to have to improve their product and provide a quality of not only care, but also a quality of living environment that’s able to attract that more educated, sophisticated older boomer who’s going to need long term care in the future.â€
Technology could make the transition easier for loved ones with monitoring and surveillance systems that allow grown children to track their parents’ care.
Golant: “The boomer population coming up the pipeline is much more sophisticated, has been living with this new technology. They’re more accustomed to it, more accepting of it.â€
And experts project that seven out of ten of boomers will likely need long-term care at some point after they reach the age of 65.
Source:University of florida.com
Posted in Aging Parents, Baby Boomers, News & Articles, Senior Housing | No Comments »
Tuesday, September 16th, 2008
It was recently annoced that The Robert Wood Johnson Foundation, one of the nation’s largest healthcare foundations, plans to award $2.3 million in grants for research to improve the quality of nursing care in America. Grants of up to $300,000 will be given to eight research projects as part of the foundation’s Interdisciplinary Nursing Quality Research Initiative, a program designed to produce and collect information on how nurses contribute to the quality of care patients receive.
The foundation, which recently made the announcement, hopes to analyze how nurses contribute to high quality patient care among multiple providers and across many care settings, including long-term care.
Nurses comprise more than half of the nation’s caregivers, but little research exists showing the connection between their efforts and improved quality of care for patients, according to the foundation This round of grants, which will be rolled out over the next two years, is the third stage and final stage of the initiative, which his so far given $19 million for nursing research.
More information is available at www.rwjf.org.
Posted in Aging Parents, Nursing Home, Senior Health, Senior Housing | No Comments »
Monday, September 8th, 2008
The American Seniors Housing Association (ASHA) released a Special Issue Brief that describes the use of computerized brain fitness tools being offered to seniors housing residents as part of comprehensive wellness program. The Brief was prepared for ASHA by Alvaro Fernandez, co-founder and CEO of SharpBrains, a recognized thought leader in the growing science-based brain fitness market.
The 15-page report, entitled “Brain Fitness Centers in Senior Housing: A Field in the Making,” provides an overview of the brain fitness field with four case studies that shed light on the use of brain fitness centers in seniors housing communities, including those operated by Senior Star Living of Tulsa, OK, Belmont Village Senior Living of Houston, TX, and Erickson Retirement Communities of Catonsville, MD.
In releasing the Special Issue Brief, David Schless, ASHA’s President, noted, “This report truly underscores how cutting-edge technology and science are being used to enhance the lives of seniors. It is particularly exciting to contemplate the enormous potential impact that computerized cognitive assessments and training can have for seniors housing residents.” According to the author, Alvaro Fernandez, “This is the very first publication in the field of brain fitness to address specific considerations related to seniors housing, expanding on our general market report released earlier this year. It is very conceivable that the early and enthusiastic adaptation of cognitive fitness, supported by the solid measurement of outcomes reported in the Brief, will help to transform the way in which the general population perceives seniors housing.”
A limited number of copies of the Special Issue Brief are available for purchase at ASHA’s online bookstore at www.seniorshousing.org and at www.sharpbrains.com.
The American Seniors Housing Association (ASHA) was created in 1991 by a number of leading seniors housing providers seeking an effective voice on Capitol Hill. Today, ASHA’s membership has grown to 350 companies that develop, operate, and finance the entire spectrum of seniors housing. ASHA’s membership owns and/or manages more than 600,000 units of senior apartments, independent living, assisted living, and continuing care retirement communities. Over the years, ASHA’s members have come to rely on the Association for its expertise in three key areas - federal advocacy; seniors housing research; and networking and exchange of strategic business information. For more information, visit www.seniorshousing.org or call 202-237-0900.
Source:www.businesswire.com
Posted in Assisted Living, News & Articles, Senior Housing | No Comments »
Wednesday, September 3rd, 2008
Equity real estate investment trust, Health Care REIT Inc. (HCN: News ) said that it has signed an agreement with an affiliate of Arcapita Inc. to acquire its 90% interest in a venture owning 29 senior housing properties managed by Sunrise Senior Living Inc. (SRZ) for approximately $643.5 million excluding transaction costs on Tuesday. The transaction is worth approximately $643.5 million excluding transaction costs. The deal would be financed by a combination of cash, plus a 90% interest in the $309 million of existing debt held by the venture.
Health Care expects to close the transaction in the fourth quarter of 2008 and was not included in the company’s previously announced investment or earnings guidance. However, the deal is not expected to impact the company’s previously issued 2008 earnings guidance. The company expects to adjust 2008 investment guidance after close of the transaction. The transaction is expected to become slightly accretive to FFO from breakeven, beginning 2009.
The Toledo, Ohio-based company will pay $365.4 million in cash and bear 90% of $309 million existing non-recourse mortgage debt priced at an average interest rate of 5.2%, held by the venture, subject to final due diligence. McLean, Virginia-based Sunrise Senior Living, a senior housing community operator, will continue to manage the properties apart from retaining a 10% stake in the venture.
Source:rttnews.com
Posted in Aging Parents, News & Articles, Senior Housing | No Comments »
Wednesday, September 3rd, 2008
Assisted Living communities throughout the country will celebrate National Assisted Living Week Sept. 7 through 13.
The theme of the week is Filling Life with Love, and it focuses on the role of communities, including residents, family members, volunteers and health care professionals. Numerous activities and events are planned in assisted living communities during this week to honor those who live and work in assisted living communities.
Posted in Aging Parents, Assisted Living, News & Articles, Senior Housing | No Comments »
Wednesday, August 27th, 2008
State funding cuts that affect about 120 assisted living facilities in Maine that care for 4,000 needy residents couldn’t have come at a worse time, the head of the Maine Health Care Association said.
MHCA President Richard Erb said the cutbacks, which took effect Aug. 1, stunned members of his organization. The association represents more than 300 providers of assisted living and residential care services, as well as nursing care, rehabilitation and other services.
“This is probably one of the strongest reactions I have seen from our members to any policy change. It began with confusion and became mixed with frustration, and anger, I would have to say,” Erb said.
The state Department of Health and Human Services cut funding that was being paid to assisted living facilities’ operators to ensure that residents with illnesses would not lose their beds during periods of prolonged hospitalization.
Erb, who has been trying to help those facilities deal with rising fuel and food costs, said that when the Legislature adjourned in April, he understood that most bed-hold costs resulting from hospitalizations of up to 30 days would be reimbursed.
Erb told Maine Public Radio that he’s not aware that any of the 4,000 Mainers who live in the assisted living facilities classified by the state as private, non-medical institutions will lose their beds as the result of the policy change.
However, he added that those facilities, known as PNMIs, are under a huge amount of pressure to retain staff while facing rising food and fuel costs. Erb said he questions whether some of the assisted living centers will be able to continue to hold residents’ beds as they face the potential loss of as much as $77 a day per patient that was formerly reimbursed.
DHHS Commissioner Brenda Harvey said the state has tried to help the assisted living centers by increasing payments by $1.52 per-day-per-resident along with some boarding costs. Harvey said she had been under the impression that Medicaid would continue to reimburse the state for its bed-hold expenses.
Posted in News & Articles, Senior Housing, Senior Living Costs | No Comments »
Wednesday, August 13th, 2008
The senior living industry is booming as it caters to wealthy seniors who are unable to continue living at home, yet do not require the intensive medical care provided in nursing facilities. A newly published report from Kalorama Information, ‘Long-Term Care Markets,’ details the transformation occurring in this $67.5 billion segment of the long-term care market and the factors that should lead to over 12% annual growth through 2012.
Several factors are contributing to this boom: the elderly population is growing at double or triple the rate of the overall U.S. population; today’s seniors want to remain active and as more of them retire with increased net worth, they can afford upscale assisted living facilities offering a broad range of amenities; facilities continue to open specialized communities that provide care designed for residents with mental illnesses, developmental disabilities, dementia and Alzheimer’s disease. In addition, the increased promotional efforts of assisted living and adult communities are leading to a shift in cultural norms and the stigma once associated with institutional living is slowing dissipating.
Unlike other long-term care facilities, assisted living is almost completely supported by private payments and residents typically meet the costs by selling their primary residence. However, managed care is becoming more involved, since nursing home care costs about double that of assisted living. Also more long-term care insurance plans are adding assisted living coverage, which should further spur growth.
“Ongoing cost containment has moved the market away from nursing home care in favor of assisted living and home care services, though all segments have experienced growth due to the general aging of the population,” notes Kalorama Information’s publisher, Bruce Carlson. “This trend will continue as pressure to reduce costs remains strong for managed care, Medicaid and Medicare.”
Kalorama Information’s report ‘Long-Term Care Market’ reviews and analyzes this increasingly important market in the U.S., covering four main segments: nursing homes, home healthcare, hospice care and assisted living. Market indicators, estimates, forecasts through 2012, a competitive analysis and key company profiles are included. For further information visit: http://www.kaloramainformation.com/redirect.asp?progid=11663&productid=1729220Â .
Posted in Aging Parents, News & Articles, Senior Housing | No Comments »
Thursday, August 7th, 2008
Sunrise Senior Living Inc., which filed its 2007 financial results Thursday, posted a $70.3 million loss for the year.
One of the nation’s largest senior living providers also announced it would reduce its growth plans.
The red ink in 2007 for the manager of 445 retirement communities compares to a restated profit of $15.3 million in 2006.
Sunrise expects to file its first quarter 2008 financial report later this month and its second quarter report by Sep. 10.
Citing the current state of capital markets, Sunrise said it would decrease by up to 50 percent its 2008 plan to develop as many as 3,400 living units. The company also set a goal of saving at least $15 million on an annual basis by starting a voluntary separation program for employees while cutting spending on consultants, vendors and administrative costs.
This month, Paul Klaassen said he will step down as chief executive after leading the company for 27 years. Sunrise has been struggling with accounting irregularities and accusations of insider-trading, according to McKnight’s Long Term Care News, an industry trade publication.
Posted in News & Articles, Senior Housing | No Comments »
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