Skip to Content

Senior living: Good stewardship through healthy finances

December 10, 2020 In The News 13 min read

Efficiency, engagement, and attention to supplies and costs are three big factors that make up the senior living quality equation. Pat McCormick weighs in on community resource use via Senior Living Executive.

An elderly couple in their kitchen using a laptop computer on the counter.For all its rewards, senior living is a tough business. What may be toughest for executive directors and similar professionals is balancing the need to embody servant leadership and stay true to mission while running a thriving business.

We’re told that business heads need to be constantly calculating and look at the world through clear, sometimes even cold, eyes to be sure to get maximum value out of everything spent.

But many senior living leaders have found the key to making it work: They realize that keeping a business healthy is part of their stewardship mission; that tracking expenses and hours benefits residents and employees; and that taking care of business adds up to more resources for more birthday cakes and more entertainment and activities — and most of all, the time and peace of mind that makes it possible to do just a little something extra for a resident. 

Related Thinking

U.S. government building.
September 22, 2023

IRS halts processing of new ERC claims; new processes to be implemented

Article 9 min read
Female doctors talking while walking on rooftop of hospital.
September 21, 2023

HFMA Region 7: Mastering inpatient value-based care measures for maximum reimbursement

Webinar 45 min watch
Elderly male senior citizen talking with a doctor.
September 19, 2023

Senior care benchmark study identifies $17 million in operating improvements

Case Study 1 min read