Potential Annual Cost Benefits for
Gold / Silver Certificate Training
|
| Anticipate Outcomes |
Annual Cost Savings Estimate* |
Silver
|
| Lower cost marketing resulting from competitive advantage & clear market differentiator |
Greater time effectiveness and marketing impact: $10,000 |
| Increased resident & family satisfaction |
Rent increases more easily accepted — if industry average is 3% and the training enables a 1/2% additional annual increase to 3.5%: $21,000 |
| Lower resident turnover—longer resident life cycle—due to fewer falls and hospital visits |
Less marketing; fewer empty bed days: If only 1/2%: $21,000 |
| Fewer falls and hospital visits |
Lower liability & workman’s comp insurance rates by 10%: $5,000 |
| Access to activities programming library material–more immediate higher resident engagement |
Less time spent on activity program development; more on direct activities programming: $5,000 |
| Lower staff turnover/staff retention |
If reduction of two FTE turnovers at $5,000 per turnover: $10,000 |
| Demonstrating parallel programming leads to faster fill-up & additional stabilized occupancy. |
If one residents move in two months earlier, revenue pick-up: $10,000. If empty bed days are reduced by an additional 1/2%: $21,000 |
| Reduced Workers Comp claims due to better communication leads to engagement between staff and residents |
Engaged and active residents exhibit less of the 4 “A”s of Alzheimer’s: anxiety, agitation, aggression and apathy: $5,000 |
| Certificate of Excellence creates a powerful marketing differentiator–including evidence-based creates increased credibility |
Lower cost marketing: $20,000 |
| Satisfy or exceed state and federal regulations and facilitates certification and licensing |
Reduces cost of training development: $5,000 |
| Established engagement activity flow leads to more efficient use of staff at the same ratio–staff optimization |
If this saves 1/2 staff person for an entire year: $30,000 |
| Potential value of Silver Package Estimate Total $153,000 |
Gold
|
| Deeper embedding into the organization helps lessons really “stick”. Less chance of falling back into “old habits”. |
Reduced follow-up training needs: 10% of training costs $8,000 |
| Leadership team cohesion from initial site visit to Hearthstone and identification as “champions” |
Less leadership team turnover, more effective management: If only one less: $25,000 |
| Increased compliance and fewer deficiencies |
Reduced likelihood of fines: $3,000 |
| Maintain additional stabilized occupancy |
Fewer empty bed days: If only an additional 1/2% for a total of 1 1/2%: $21,000 |
| Potential value of Gold Package Add $57,000=Estimate Total $210,000 |
| *All estimated calculations are based on a 70 Unit Community with $5,000 unit revenue. |
