Many nursing homes and assisted living centers come to a point of no return, where what they are doing no longer works. Revenues and census have declined, as the leadership team has exhausted their abilities. This is the perfect time to work with Nextvive management services.
Nextvive specializes in operational management services This includes the revamping and enhancing of:
Revived profitability starts at the core of your business, where most problems are born. Most struggling long-term care (LTC) organizations have policies that cripple income making potential. These policies may seem helpful in one area of operations, but prevent your team from being effective in generating revenue.
One of the first things the Nextvive management team does with a new client is review your operational policies to make sure they support the areas needed to boost your profitability.
Allocation of resources
Consider the resources allocated for marketing and sales in a typical 100-bed nursing home, it needs to generate gross revenue of about $7M. Now, compare the average 100-bed nursing home to most any other $7M business. They would likely have a sales force of 3, a marketing team of 1, and a customer service team of 4 or more, totaling about 320 employee hours a week. They would also allocate $210,000 to the yearly marketing budget.
Lets compare this to a typical nursing home or assisted living center. They will have one person responsible for marketing, sales, and customer service. Additionally, that one person will be responsible for answering the telephone, serve as night manager, and many other tasks as needed.
Most admissions/marketing employees only invest 35% of his or her time or 14 hours a week on activities that help generate revenue. A comparative business invests 320 hours a week on the
same functions. This shocking time allocation difference is one of the reasons LTC centers struggle to increase revenue. Your revenue and census results may be set-up to fail before your efforts even begin if there’s not enough resources allocated to the task. The Nextvive management team will realign your resource for maximum profitability.
Many managers of the admissions/marketing employees hinder your ability to be successful. Just one of your managers could bring your revenue to a stop. We have seen LTC managers that were so cruel and demanding that they caused a staff turnover every four months. On the other hand, we have seen managers accept ineffective outcomes for years and refuse to make changes. Nextvive has created a management system that equips, supports, and encourages employees to be successful, as it holds them accountable for the desired outcomes.
Consider who gets hired for many of the LTC Admissions/Marketing jobs and his or her education and training. Most LTC centers promote a nurse, nurse’s aide, or a good employee who has never worked in marketing or sales, nor do they have marketing or sales training or education. They may have a great personality, but struggle with generating inquiries, sales, and revenue.
The Nextvive management team will teach your sales crew proven methods for capturing more profitable admissions. Coupled with a strong management system, you should see a sharp revenue and census increase with our guidance.
Build The Basic Sales Functions
Your revenue may be low because the basic sales functions are not working.
About 50% or more of long term care sales are lost to simple, easy to fix things, such as no one answering the phone, no sales person is available to take an inquiry, or no one followed-up on an inquiry. Only a small fraction of the inquiries are converted to admissions. Most centers don’t even know their inquiry to admissions conversion rate because it’s not tracked.
It’s usually a sign that your management team is struggling and needs help when the basic sales functions are lacking.
Vision, strategy, and ideas
Once the core of your operational system is rebuilt for profitability, Nextvive will implement growth actions. Our plan is to first create an exciting vision. Then we cultivate new ideas and action steps in a plan that is designed to increase your profitability. The process is not new, but the concepts have not been done, nor, will they likely be done with your existing management system. Call Nextvive today to learn more about how we can help boost your profitability and valuation.
Project Based Consulting
Nextvive can help you with revenue and census development on a consulting project basis. However, we have found that at the project level the impact and results are usually temporary at best. Long-term success usually requires a change in the core management systems. The managerial decisions are usually the main reason the census and revenue are suffering. If we created the perfect marketing and sales plan for your center it would likely never get implemented because good ideas have no life in organizations that are ineffectively managed.
A few quick ideas for increasing your census
If you're looking for a few quick ideas on how to increase your census, read Mike Larson's e-book called, "Easy and Inexpensive Ideas on Increasing Census." The e-book has many helpful ideas on how to help improve your census.
How to find more inquiries
Nextvive offers a service that produces a steady flow of exclusive inquiries for assisted living centers, nursing homes, CCRC's, or home healthcare agencies. With a steady flowing inquiry pipeline you can focus more efforts on sales, producing more admissions and revenue. To learn more call Mike at