How senior living providers can create a smarter pricing structure
Senior living owners and operators are really good at taking care of their residents, and part of that great care is providing residents with the services they need. But what our team at Plante Moran Living Forward often finds is that the pricing and costs don’t always line up when we take a deep dive into the operations.
In a recent Senior Housing News article, Dana Wollschlager, principal and practice leader of Plante Moran Living Forward, explains that assisted living communities have another option for pricing their services outside of “secret shopping” their competitors. In fact, our team has a process that identifies exactly how much a service costs to provide in order to help providers establish appropriate rates for rent and services.
Check out the article for a deep dive explaining how independent and assisted living communities can use technology, marketing, and accurate data-driven analyses to get specific and realistic with their service costs.
We’ve helped many senior living communities optimize their revenue with our Price Point analysis. If you’d like to discuss your community’s pricing structure with our experts, contact us today.