Seniors Housing Business

ASHA 2016

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

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Page 21 of 71

AS H A 22 2016 ASHA 50 2016 those attributes. Our plan is to cre- ate clusters of communities in local markets where we can leverage local knowledge and better understand the nuances of each marketplace. But scale is something we will always be cautious about. You need to be able to stay connected with your communities and provide the support required. You want to be able to deliver on your promise to a market, but you also have to deliver on a promise to capital partners. The management of this busi- ness is so complex, you don't want to get out over your skis and have too many balls in the air. We are not rushing. We are growing thoughtfully. Q: Your communities are CARF accredited. Why do you think accreditation is important? Grust: Accreditation has been a fantastic experience for us. You're bringing in a third party to measure your conformance to about 1,000 different standards. The accreditors are guided by service standards and best practices. It harkens back to my quality of life standard. Our goal is to positively impact the lives of the residents we serve, and accredita- tion helps us to meet that standard. The audit determines whether we are delivering on our promise to the customer. Accreditation is a power- ful endorsement for consumers who are considering where to move an elderly relative. Q: Do you see more communities seeking accreditation? Grust: More senior living oper- ators are seeking accreditation. But operators must be ready for the audit. It's a comprehensive process and not for the faint of heart. The audit includes hospitality, clinical and regu- latory compliance issues. Thousands of details are covered. Interviews are conducted with staff and residents. The operator is held accountable. Q: Should the industry strive for accreditation, or some type of uniform standards? Grust: We need to hold our- selves to standards. We're touching people's lives. To me, accreditation makes a lot of sense. The CARF Q&A with Michael Grust BIRMINGHAM | BOSTON | LOS ANGELES | SARASOTA Valuation Consulting Litigation Support Feasibility Tax Appeal Transaction Support | 941.363.7500 Precise values from a perspective only experience can provide. See what you've been missing. H E A L T H T R U S T

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