Assisted Living: $2,900 – $3,500 per month plus services
Memory Care: $3,400 – $4,200 per month plus services
Turnaround Solutions directed the improvements, overhauled existing operations, hired and trained new staff, built out a memory care program and initiated an aggressive sales and marketing sprint to change the community’s perception and fill the 55 vacant units.
Over twelve months, monthly net move-in averages increased from 0.5 to 8 beds per month, both growing occupancy and increasing retention. Additionally, this effort increased the average revenue per bed by $500, from $2900 per month to $3400 per month, and reduced the expense ratio from over 100 percent to 70 percent. The total net operating income growth was just over $130,000 per month.