Life care: an industry with unique financial characteristics.
Despite the financial problems the life care industry has had, these communities are providing a valuable service to residents of retirement age. An understanding of the unique characteristics of the industry will help to ensure that both excellence in service and financial strength are achieved. Long-range planning takes on new significance for management, because the planning horizon must consider lifetime obligations to the resident population. For the healthcare provider who will take the time to study the industry carefully, life care offers an opportunity to provide a wide range of services profitably to a segment of the population whose numbers are projected to grow rapidly in the foreseeable future.
D000368:Aged; D002202:Capital Financing; D002608:Charities; D005249:Fees and Charges; D005376:Financial Management; D005382:Financing, Personal; D006801:Humans; D008134:Long-Term Care / Q000191:economics*; D012112:Residential Facilities / Q000191:economics*; D012179:Retirement; D014481:United States