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A Place for Mom is an online platform connecting families searching for senior care with a team of experienced local advisors providing insight-driven, personalized solutions. As the nation’s leading senior advisory service, A Place for Mom’s mission is to enable caregivers to make the best senior living decisions. With hundreds of senior living experts nationwide, A Place for Mom helps hundreds of thousands of families every year navigate the complexities of finding the right senior living solution for their loved one across home care, independent living, memory care, assisted living, and more. A Place for Mom is paid by the senior living communities and care providers in its network so its service is provided at no cost to families. For more information, please visit <a href="/">https://www.aplaceformom.com</a>. &nbsp;

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By Glenn Ruffenach
New York (May 6, 2021) – &#8220;My father might need to move to an assisted-living community. How do I evaluate, or how can I investigate, the financial health of these developments? The fees/costs are very high; how do I know a facility won’t go bankrupt soon after he moves in?&#8221;
I hear these questions more frequently as baby boomers, in particular, look for long-term care for aging parents. It’s important to evaluate the financial health of any type of senior housing for two reasons. First, as you note, the costs can be considerable, especially if a large entrance fee is involved. A community that falls on hard times could put your investment in that community at risk.
Second, and equally important, a development with financial problems could cut staff or services and, as such, reduce the quality of residents’ care. In the worst case, a facility could close its doors and transfer residents to other housing or leave them to search for a new home. In either instance, a distressing experience.
As for your father, an assisted-living community, as the name implies, is for people who are largely independent but who need help with activities of daily living—say, bathing or cooking meals. In 2020, the annual median cost for a one-bedroom residence was $51,600, a 6.2% increase from a year earlier, according to Genworth Financial Inc. About four out of five residents pay for care out of pocket, according to AARP.
In most cases, moving into assisted living, says Letha McDowell, president-elect of the National Academy of Elder Law Attorneys, is “like moving into an apartment.” You make a deposit and then pay month to month, usually with no long-term contract. The point: There is no large, initial investment on the resident’s part, Ms. McDowell says. As such, there is little to lose—at least financially, if not emotionally—if a facility should fail.
By contrast, consider a continuing-care retirement community, which enables residents, if the need arises, to move from independent living to assisted living to nursing care, all within a single setting. CCRCs are perfectly fine solutions for some retirees—but they typically require a hefty entrance fee. In the first quarter of this year, that fee averaged about $395,000, according to the National Investment Center for Seniors Housing &amp; Care.
As for digging into an assisted-living community’s financial health, most developments are privately held and, as such, aren’t always eager to provide numbers. Still, start by “asking the marketing or executive director, ‘Do you have any information about your community’s financial stability?’ ” says Don Husi, a managing director who focuses on senior housing and care at Chicago-based Ziegler, a specialty investment bank.
In some instances, the community will be owned by a publicly traded company (examples: Diversicare Healthcare Services, Inc., Pennant Group Inc., Five Star Senior Living ) or be part of a health-care real-estate investment trust. If that’s the case, there should be, at the least, quarterly financial statements that you can examine.
A few states require assisted-living communities to disclose information about their operations, Mr. Husi says. A Place for Mom, a senior-living referral service, has a <a href="https://www.aplaceformom.com/planning-and-advice/senior-housing-101/assisted-living-state-licensing">good tool</a> that provides links to each state’s assisted-living records and reports, including regulation standards, as well as inspection summaries and violation histories for individual facilities.
If all else fails, “use your five senses,” Mr. Husi says. “Look around the community. Does it have curb appeal? Is the building well maintained? Is it clean? What does the landscaping look like? What’s the demeanor of the staff? Are they there just for the job, or do they care about the residents? How does the food taste? Is the ‘hot food’ really hot?”
Says Mr. Husi, “In most cases, quality is a sign of financial stability.”

How to Gauge the Financial Health of an Assisted-Living Facility

A Place for Mom Featured in Wall Street Journal on Evaluating the Financial Health of Senior Housing

New York (March 22, 2021) – A Place for Mom, the largest senior living referral service in North America, announced today the launch of its new “The Place for Senior Living Advice” campaign, developed to help the thousands of caregivers seeking the right personalized care for their aging parents and relatives. The campaign shines a light on real-life inspired stories from families wrestling with memory loss, senior isolation, and urgent healthcare needs. A Place for Mom provides expert advice and support to help caregivers through the often emotional and unfamiliar process of researching Senior Living options.
This past year has been particularly challenging when it comes to caring for our nation’s senior population. In surveys conducted by A Place for Mom throughout the pandemic, 77% of caregivers reported being overwhelmed by the demands of caring for a senior, 65% reported sacrificing their own physical or mental health to keep their loved one safe, and 62% believe their loved one declined or suffered physically and mentally as a result of isolation. 
“Finding the right care for an aging parent or loved one is one of the hardest decisions our customers will ever make,” said Lauren Radcliffe, Vice President of Customer Strategy and Communications at A Place for Mom. “Our new campaign is inspired by the countless stories we hear from our families. We wanted to authentically be able to share their experiences, and celebrate the uniqueness of all the ‘moms’ and ‘dads’ we help.”
“The Place for Senior Living Advice” campaign supports A Place for Mom’s mission to enable caregivers to make the best senior living decisions through its personalized and free consultative process. Moreover, the spots illustrate that making this decision together can provide families with a positive solution, one that is often better for the senior and caregiver.
A long-lasting relationship with families led to including some real customers in the campaign. Melanie and her mother, who recently worked with A Place for Mom, were cast in the A Place for Grace spot as mother and daughter to portray one of the life-inspired stories. 
“After my father passed away, I was desperate to find a place for my mom closer to where our family lived, but I knew nothing about assisted living or where to start,” said Melanie, A Place for Mom customer. “I came out completely indebted to A Place for Mom and my senior living advisor, because, without them, I probably would have given up or settled. My mother and I were so honored to be able to participate in the new commercial and help other families.”
In addition to television spots, the campaign will also be featured in print, outdoor, banners, and social all of which convey A Place for Mom’s new tagline as The Place for Senior Living Advice.

“The Place for Senior Living Advice” Personalizes the Emotional Process of Finding and Transitioning Mom or Dad to Senior Living

A Place for Mom Launches New Campaign Aimed at Helping Caregivers Confidently Make the Right Senior Living Decision

New York (January 14, 2021) – A Place for Mom, Inc. (APFM), the largest senior living referral service in North America, announces the SeniorAdvisor.com Best of 2021 Senior Living Awards and celebrates the more than 600 best of senior living providers that were honored with this exclusive distinction. The best of senior living honor is determined by the reviews of seniors and their families on SeniorAdvisor.com, the nation’s largest ratings and reviews site for senior care and services.
“During a year that challenged all of us, and particularly frontline healthcare workers, senior living communities demonstrated resilience going above and beyond to keep residents safe, healthy, and happy,” said Sue Johansen, Senior Vice President, Community Network, at A Place for Mom. “Of the nearly 45,000 senior living care providers in North America currently listed on SeniorAdvisor.com and hundreds of thousands of reviews, the top 3% were recognized with this prestigious award, by providing the highest level of care that residents and their families deserve.”
Senior Living Industry is a Critical Category in Caring for Our Aging Population 
Reflected in many of the top reviews, the Senior Living industry has proven to be an essential service throughout the pandemic. A Place for Mom surveyed caregivers that moved a senior loved one into a community over the past six months and 86% of them stated that COVID did not influence their decision to move during the pandemic, mainly due to the fact that seniors need care beyond what could be provided at home. Almost 9 out of 10 families whose loved one was in a Senior Living Community, said they were satisfied/very satisfied with the care their loved one was receiving this past year. Additionally, caregiver fatigue became an unfortunate reality with more than ¾ of caregivers reporting that they have been overwhelmed by the demands of caring for a senior since the pandemic began. 
Award Winners Receive Glowing Reviews During Challenging Year 
This year has been difficult for so many and the senior living industry has shown its resilience in the face of this challenge. Many of the top reviews shared stories of what kept their loved ones feeling safe, less isolated and stimulated both mentally and physically. From innovative dining programs by notable chefs served safely , socially-distanced concerts and karaoke, 100th birthday parades, easily-accessible video calls with family, to having staff just be there to engage with residents and caregivers when they needed them most, the award-winning communities have provided the utmost care.
To qualify for a SeniorAdvisor.com Best of 2021 Award, winners must have received an average overall rating of at least 4.5 stars on six or more reviews received on SeniorAdvisor.com during the award period from October 19, 2019 to October 31, 2020. Additionally, winners must offer at least one of the following types of care: Assisted Living, Memory Care, Independent Living, Skilled Nursing, Continuing Care Retirement Community (CCRC), or In-Home Care in the United States or Canada.
“Senior living communities come in many shapes and sizes, and there’s no universal approach for caring for an aging parent or loved one,” said Johansen. “Many people think of senior living and nursing homes as synonymous, but over the past 30 years the industry has met consumer demand by evolving the senior living housing options available to families well beyond nursing homes.”
Hundreds of thousands of families are helped each year by A Place for Mom’s trusted online platform that connects families searching for senior care services with experienced advisors who provide insight-driven and personalized solutions in a proven process. For more information on senior living options that can meet the unique needs of your family, visit <a href="http://www.aplaceformom.com" rel="noopener noreferrer" target="_blank">www.aplaceformom.com</a>. 
To learn more about the Best of 2021 Senior Living Awards and view the complete list of North America’s top senior care providers, please visit <a href="http://www.senioradvisor.com/awards/best-assisted-living" rel="noopener noreferrer" target="_blank">www.senioradvisor.com/awards/best-assisted-living</a>.

Reviews from Residents and their Families Reflect Outstanding Care Provided by Best Ranked Senior Living Communities in North America

A Place for Mom Celebrates the Senior Living Industry in a Year of Triumph Over Adversity

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