Exploring the Complexities of Continuing Care Retirement Communities

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1. What are continuing care retirement communities (CCRCs), and how do they differ from a traditional freestanding SNF or ALF? What are some of the financial challenges faced by developers of CCRC communities (describe at least two items). How popular do you think the CCRC model would be in an area like Westchester or Rockland county (choose only one county for your analysis).

According to the New York State Department of Health (DOH), Continuing Care Retirement Communities (CCRCs) are “residential alternatives for adults that offer, under one contract, an independent living unit, residential amenities, and access to a continuum of long-term care services, as residents’ health and social needs change over time.” CCRCs differ from traditional …show more content…

Northern Westchester County has ample space for a CCRC. The Osborne, in Rye, is a good example. CCRC’s bring jobs and stability to an area.

According to the United States Census Bureau, 62% of the population in Westchester County is homeowners, compared to only 54% statewide. Seniors usually sell their homes to pay entrance fees so having a large percentage of homeowners is positive for the area. In addition, seniors may feel financially secure knowing that CCRCs must guarantee that each contract holder will be cared for even after they deplete their personal assets.

Regulatory oversight is another factor for popularity. In New York State, CCRCs were established under Article 46 of the Public Health Laws. DOH has oversight for the certification and operation of CCRC’s. State licensure and/or accreditation from the Continuing Care Accreditation Committee offer peace of mind to seniors and families.

2. According to the Ben Pearce book, what are 4 key characteristics of an effective marketing program for assisted living facilities, and how does this differ from sales? Looking at your secret shopper visit experience, how effective was the facility you visited at marketing their …show more content…

(Value is a combination of quality, service, and price.)

Assisted living facilities need to effectively market their value:

• They must provide a quality product. The Ben Pearce book reminds us that all employees must be dedicated to delivering a quality product.
• Their price must be one that is attainable and reasonable for the offerings. The Kotler & Keller text suggests that facilities analyze competitors and their offerings, estimate their own costs, and determine demand, in order to set the appropriate price.
• When it comes to service, facilities need to go above and beyond the ordinary to add value. For example, the facility needs to provide meals. Having various options and settings adds value.

While marketing is everything businesses do to identify its target market and create strategies for reaching its customers, sales is everything businesses do to close the sale and get a signed agreement or contract. Both are essential to the success of a

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