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| Esperanza Senior Living, College Station, TX |
- Does your facility show wear and tear and have outdated finishes?
- Are you within close proximity to hospitals and healthcare facilities?
- Have you outgrown your current
space?
- Is your skilled nursing facility
up to code?
All of these
may lead to the determining the future of your
skilled nursing facility. Below
are key points to consider before making a decision to renovate or relocate.
1. Resident Safety & Waiver List
First and foremost, you must consider
the safety of your residents and staff when considering whether to renovate or
relocate your home. If your facility has waivers and needs upgrades in life
safety and ADA
2. Location
The location
of your skilled nursing facility is critical when considering whether to renovate your existing building or relocate. Location can drive revenue based on the
convenience to your residents and the community. If your home is located at a
distance from key services in the community, you are at a disadvantage. It is
also important to think about your competitors, the size of your property and
how much you plan to grow when considering whether your location is sufficient.
You must consider your proximity to important services, such as hospitals and other medical care facilities. It is also important to research the market to see what your competitors are doing and how that will affect the occupancy of your facility.
3. Census Level
The number
of occupied beds you currently have is another important factor when deciding
between renovation and relocation. Do you plan to grow exponentially in the
next 10-20 years? If so, then maybe relocation to a new home is the best option
for you. However, if you do not plan to outgrow your facility in the next
couple of decades and currently have enough space and amenities for your
current residents, it may be best for you to stay in your current home and
invest money in renovation. It is also worth noting that you may be able to
receive a 25% Medicaid bed increase if you relocate your facility.
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| Clifton Sunset Nursing Home, Clifton, TX |
As with any
business, it is important to monitor what your competition is doing. If you
find out that a competing facility is planning to construct a large facility at
one of the best locations in town, it would be a good idea to consider
relocating your home. However, if you happen to be the leader in
skilled nursing in your community or do not have any real competition, it may be best to simply
stay where you are.
5. Medicare Revenue
Revenue is
always a key point of consideration when contemplating renovation vs.
relocation. Some homes may be eligible for maximizing Medicare funded revenue
if they make certain upgrades or additions to their facilities. However, your action is
based solely on the capacity of your current home and its property. If you do
not have room to make the necessary additions or your facility needs too many
upgrades, it may be beneficial to consider relocating your home.
Each of the elements above must be
carefully considered in determining whether you should make improvements to
your home through relocation or renovation. The Jamail & Smith Construction
Senior Living Team specializes in the design and creation of senior living
facilities. From financial analysis, planning and development, to construction
and operation of your facility, our team can help you through every step of the
process. Our priority is to assist you in making your vision a reality through
a seamless partnership.
If you would like a free assessment
and consultation for your facility, please email the information below to marketing@jamailsmith.com and a member of our Senior Living Team will contact
you to schedule a walk-through.
- When was your facility constructed?
- Where is your facility located(address)?
- What is your census level?
- What are the top two (2) improvements that you desire for your facility?
- Contact information: Name, Title, Phone number, Email address
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