CCRC occupancy to stay the same or improve in 2014: report
Occupancy levels at nonprofit continuing care retirement communities (CCRCs) will remain stable or improve in 2014, according to a new report by financial information services company Fitch Ratings.
“Consistent financial performance over past two years has been helped by an operating environment that has significantly improved since 2008, with residential real estate price gains driving much of the change,” says Gary Sokolow, a director in Fitch's nonprofit healthcare group. “Fitch believes the stable operating environment will continue in 2014.”
The “2014 Outlook: Nonprofit Continuing Care Retirement Communities” report also contends that, despite increasing interest rates, CCRCs will increase capital spending to address older sections of their campuses and take other steps to remain competitive and meet demand.
Federal efforts to reduce hospital readmissions and deliver high-quality post-acute and rehabilitative care also will benefit CCRCs, the report maintains.
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Lois A. Bowers was senior editor of I Advance Senior Care / Long-Term Living from 2013-2015.
Topics: Executive Leadership , Facility management , Housing , Operations