Washington, DC (PRWEB) October 26, 2016
CARF International’s Financial Advisory Panel has released the 2016 edition of its Financial Ratios & Trend Analysis of CARF-Accredited Continuing Care Retirement Communities (http://bookstore.carf.org/miva/merchant.mvc?Screen=PROD&Store_Code=CB&Product_Code=7916.45&Category_Code=General-Continuing-Care-Retirement-Community-Pub). This annual publication includes benchmarking information and analysis of the financial position of continuing care retirement communities (CCRCs) that have been through CARF’s accreditation process.
The financial ratios publication is a joint project conducted by CARF, Ziegler, and Baker Tilly. Each year, participating CCRCs submit audited financial statements to CARF, which are then aggregated and reviewed by CARF’s Financial Advisory Panel (FAP - http://www.carf.org/About/FAP) to identify key financial patterns and trends impacting the senior living field. The FAP analyzes 17 separate financial ratios for both single-site and multi-site CCRCs in the United States. The project partners intend this information to be used by CCRCs as a tool to compare actual and budgeted performance, identify trends, and evaluate performance.
In a recent Senior Housing Business article titled Data reveals resiliency of CCRC operators (http://seniorshousingbusiness.com/industry-voices/data-reveals-resiliency-of-ccrc-operators), CARF’s Managing Director of Aging Services, Sue Matthiesen, said, “It is important for an organization to assess its financial health in a variety of ways. Financial ratios should not be used by themselves to make financial or operational decisions, but they are an excellent addition to the process. Looking at trends in financial ratios compiled from other CCRC organizations can help in assessing the direction in which the field is going and evaluating your organization’s past performance.”
The financial ratios and findings in this publication have historically been presented each year at the LeadingAge Annual Meeting. However, this session will not be presented at the 2016 meeting. CARF’s Aging Services unit and FAP members invite individuals who are interested in discussing the results to register instead for CARF’s November 15 webinar. Presenters will provide specific comparative information based upon primary CCRC contract type and quartile rankings. For more information, visit: http://www.cvent.com/events/2016-results-financial-ratios-and-trend-analysis-of-carf-accredited-ccrcs/event-summary-bb224702cb4841c996bda9c27996acb0.aspx.
