Assisted Living Business Plan Sample

You'll need both reasons but, before you commit, know what you're getting into.

You'll need both reasons but, before you commit, know what you're getting into.

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The industry includes many forms of living options; retirement housing with minimal medical support to full-blown nursing homes.

There are (estimated) 38,000 assisted living centers, 17,000 nursing homes, 2,200 "continued care retirement communities" and hundreds more "independent living" residences in the U.

In January 2013, Colorado conducts risk-based re-licensure inspections for assisted living residences (ALRs), initially on a pilot basis.

Under the new system, the meeting criteria specified in the law will be eligible for an extended survey cycle.

More than two-thirds of the states use the licensure term "assisted living." The second most used term is "residential care." Other licensure terms are basic care facility, community residence, enriched housing program, home for the aged, personal care home, and shared housing establishment.

The National Center for Assisted Living State Policy Developments in 20 Policies impacting assisted living and residential care communities from January 2012 through January 2013 showed eighteen states reported regulatory changes.Thirty-nine percent of communities provided skilled nursing services by registered nurses or licensed practical nurses and 13 percent of residents received these services.In this National Center for Assisted Living study, researchers found that 19 percent of residents received Medicaid funding. citizens aged 85 and over could quintuple, to 21 million. If you have talent for real estate development or health care and like giving older adults a helping hand and more, then senior living is for you.Questions to ask a current assisted living owner You've done the due diligence from working at a facility or volunteering for one, now it's time to get federal and state licensing knowledge.Even though federal laws impact assisted living, oversight of assisted living occurs at the state level.No degree required, but there are certification programs to better prepare you to run one. Check with your local Alzheimer's Association and AARP business office for caregiving training. Owning and operating an assisted living facility requires knowledge.Some owners have nursing or nursing home administration backgrounds.Want to open a business that targets one of the fastest growing global market?If you're opening a new assisted living facility to serve seniors, you're on the right track.The United States senior citizens will account for 20% of the nation's total population by 2030, up from just 12.4% in 2000. Assisted living is in demand now but in several years, it'll be over the top.A drawback to the senior housing industry, from a business owner perspective, the business is challenging to get off the ground.