Homage to Owning the Lingo

It is all about speaking the same language with prospects and referral sources Terminology is ever changing and often interchangeable Not just senior living, but: Healthcare Financial Operational Real Estate

Disclaimer Game to Test Your Ability (and have fun) The Sober Valley Lodge 12 Step Game Where primary participants achieve radical success through industry lingo B*tchin’-ness”

Three Teams Potpourri of topics and sources Answer questions correctly to earn steps Lose steps for wrong answers Bonus steps for “wedging” other team Goal – Complete the 12 step program and earn bonus “rock star” steps

“Duh – winning!”

“Boom” – 1 step “Tiger’s Blood” – 2 steps Adonis DNA – 3 steps

“Golden Sombrero” – Lose 3 steps for wrong answer “Ride the Mercury Surf Board” – Opportunity to steal a question after a wrong answer B*thchin’ Rock Star - 5 step answer

Bud Fox’sWild Thing’s2 ½ (wo)Men GregKathyKarla NickiLarrieElissa JulieMariaNicole KirstenNancy

Q-What is the acronym “ADL’s” short for ? A – Activities of Daily Living

Q – Name all 7 ADL’s: A – Ambulation Bathing Dressing Feeding Toileting Transferring Continence

True or False, All CCRC’s offer a Full Continuum of Care? A – False, a full continuum is generally considered independent living, assisted living, memory support and skilled nursing all on site but some CCRC’s offer limited on site licensed care.

Q – AAHSA is the largest non-profit industry association lobbying for the Senior Housing Industry. What does “AAHSA” stand for? A- American Association of Homes and Services for the Aging

Q – What is “AAHSA’s” new name A – Leading Age

True or False, Endowment Fee, Resident Deposit and Entrance Fee refer to the same thing? A – True, all are terms for a fee paid in full at time of independent living occupancy. While these can be used interchangeably, contracts vary by community.

Q – CON stands for? A- Certificate of Need, government agency approval for constructing or expanding a health facility or service.

Q-The Case-Shiller index is an industry standard for measurement and tracking of what trends? A- Actuarial trends in aging and healthcare B- SNF Medicare survey deficits C- National and regional home prices D- CCRC financial performance A – C-An index calculated from data on repeat sales of single-family homes, behavioral science and economic bubbles developed into tradable indices based on the data for the markets which are now commonly called the Case–Shiller index.

Q – True or False, all life care communities guarantee set monthly fees regardless of care level? A- False, life care community is sometimes used interchangeably with CCRC. Life care communities usually offer one of three types of contracts for higher care level fees- Type “A” – all inclusive Modified – discounted care Fee for Service – market rate

Q- The Americans with Disabilities Act (ADA) requires: 1. All apartments in independent be ADA accessible. 2. Only AL apartments need to be accessible. 3. Any IL apartment must be adapted at the request of the resident. 4. A percentage of IL apartments are adaptable to ADA based on local requirements. A – 4- A percentage of IL apartments are ADA accessible in accordance with local requirements. Sponsors may also have corporate standards relating to this.

Q – When is the feasibility study is conducted ? A – This is a study done prior to financing encompassing a review of PMA, pricing, competition, sales history and projections, market penetration etc. Prepared by an accounting firm, this is considered the benchmark for future performance.

Q – It is often said that a community’s biggest competition is a prospect’s own home. This option of staying at home rather than a community is called? A- Aging in Place, a retirement option that allows a senior to stay in their home as long as possible through home design and services.

Q- Stabilized occupancy is typically assumed to be: A- 75 %+ B % C % D- 100% A – C-This is the assumed final occupancy level that the community will operate at identified in the feasibility study.

Q – Bond Covenants, the sales and marketing targets established at financing to measure sales and marketing progress, are calculated in the following way: A – A sophisticated financial model that assures achievement of stabilized occupancy B – By calculating the historic sales pace at financing and applying it C – These are standardized and the same for all communities D- None of the above. A – Trick question, none of the above. If you know the correct answer you can have Bruce Byer’s jo b!

Ziegler.com – resources, “Glossary of Senior Living Finance Terms” AASHA.org

Did you get at least 12 Steps (points)? “Winner!”