Senior Living Financial Operations
by ProLytics

In today’s rapidly evolving digital landscape, technology integration has become crucial for senior living centers to enhance their operations, improve efficiencies, and provide high-quality care to residents.   

Improve reporting turn-around times, reduce errors, improve accuracy and gain meaningful insights into your operations and better choose where to make improvements that matter most to resident satisfaction.

Check out our templates to quickly and easily implement these tools to help streamline your financial operations.

Gain Valuable Insights

Built specifically to address the unique challenges of Senior Living Operations: Understand and streamline financial planning, budgeting & forecasting – resulting in better decisions making with greater insight and impact on financial performance.
  • Pre-defined templates built to report on industry benchmark KPIs
  • Occupancy & Revenue, Care & Services, and enhanced workforce planning are examples that illustrate use-cases for your operations
  • Build, modify and report on models that provide useful insights for complex financial planning processes.

Key Template Overview:

Occupancy & Revenue Planning

Care & Services Revenue Planning

HR Labor Costs Planning

Workforce Scenario Planning

Build your Occupancy revenue plan by Facility and Unit type (Assisted living vs Life Memory Care) and Resident move-ins/outs to forecast occupancy and rental revenue.

Plan Care & Services revenue based on resident care points needs and assigned prices points for detailed fee analysis

Plan Labor expenses (Salary / Benefit / Fringe lines and other costs) by employees, leveraging existing employee attributes and job type.

Build a Staffing scheduling weekly plan by Department and Job Title to directly validate whether there are sufficient staffing hours for the current occupancy. based on operator policies and rules

CapEx Investments

GL Planning

Targeted Overhead and Expense Allocations

Top Down "What-if" Scenario Modeling

Plan for Capital Expenditures and associated asset depreciations with ability to define priorities and approvals

This centralized operating budget template ties in revenue (occupancy, care, services) and expenses (labour, SG&A, other costs) summarized by GL code and operating segments.

Allocating Overhead costs from cost centers across different facility departments for target profitability analysis

Plan for multiple what if scenarios by using drivers based on actual and/or a comparison scenario data. Enter top level numbers as a target value and/or adjust and plan overrides to be done at the account line item level by Revenue or Cost type

We offer improved visibility into the key areas of your operations

Revenue per Available Room

Connecting the revenue data generated from various sources, such as resident fees, dining services, and ancillary services such as transportation and housekeeping to provide insight into the financial performance of the community and can be used to make informed decisions regarding pricing, occupancy, and revenue management strategies.

OpEx Spend

Better understand the expenses associated with running the senior living community, such as staffing, utilities, maintenance, food service, housekeeping, and administrative costs to forecast in priority areas such as optimizing staffing levels, implementing energy-efficient technologies, and negotiating favorable contracts with vendors.

Workforce Management

Improve managing of staff to ensure adequate coverage and quality care for residents. Staffing and workforce management also include ensuring compliance with labor laws and regulations.

Stale Data

Stale data may be the result of delayed or missed documentation, inconsistent data entry practices, or insufficient staff training on documentation and data management procedures. Without the real-time data, it limits the ability to identify and address your most problematic areas of practice or expenses that affect your organization's profitability.

Unified HR and Finance Systems

Disconnected systems reduce your efficiency levels, making it difficult for the Office of Finance to quickly uncover key metrics and insights about your personnel resources. By ensuring that finance and HR systems are properly integrated and aligned, senior living centers can improve their ability to track and report on financial and human resources data, which can support better decision-making and financial management.

Audit Readiness

Centralized reporting and record-keeping makes it easy for communities to demonstrate they are providing quality care and adherence to current regulations. By maintaining accurate and up-to-date data, senior living centers can provide auditors with the information they need to verify compliance with regulatory requirements, ensure quality of care for residents, and identify areas for improvement.

Work with ProLytics Today

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