The objectives of an operations analysis is to improve and enhance our client’s financial position by conducting a thorough evaluation of their current situation and recommending solutions to any revealed operational and/or financial obstacles. MDS will perform a thorough evaluation of existing overall financials as well as detailed departmental budgets in order to develop practical revenue enhancement and operating cost reduction initiatives. Client financial statements and all related information will be compared with current relevant senior housing, living and healthcare benchmarks. This process will identify variances from both accepted financial ratios and benchmarks and budget vs. actual financial results.
The operations analysis process will include reviewing all relevant financial statements, evaluating how dollars are specifically allocated in the budgeting process, (by various living arrangements, if applicable), reviewing all key operating ratios (NOI, Expense/resident day, etc.) and much more to result in an optimized financial situation.
Among the many areas of focus for expense reduction will be labor and staffing. Labor and staffing is a large percentage of a senior housing and healthcare budget and a thorough evaluation can identify areas for improvement that could impact operational and financial performance. The initiatives developed can be immediate or implemented on an employee turnover/attrition basis.
Moore Diversified Services will help each client develop specific key strategic goals relevant to their operations and organization. We will then work together to find ways to enhance revenue and reduce expenses without reductions in standards of care or quality of life for residents.