Baker Tilly, the Commission on Accreditation of Rehabilitation Facilities (CARF) and Ziegler released the 2022 edition of the Financial Ratios & Trend Analysis of CARF-Accredited Continuing Care Retirement Communities report.
This 30th edition of the Financial Ratios & Trend Analysis publication captures the fiscal years ranging from March 31, 2021, to Dec. 31, 2021, and is meant to help continuing care retirement communities (CCRCs) and life plan communities (LPCs) understand and utilize financial benchmarks to guide their strategic decision-making and budget planning.
Like last year’s report, which was the first to capture the detrimental effects that COVID-19 had on the industry, this year’s edition highlights the continued challenges the industry has faced as it emerges from, what are hopefully, the worst impacts of the pandemic. The report also dives into the funding received from the federal, state and local governments, including the accounting treatment and timing of recognition of the loans that providers received from the Paycheck Protection Program (PPP).
After evaluating your organization’s specific situation, this publication can help you understand its current financial posture as well as benchmark against your peers, so that you can continue down your company's path to a more financially sustainable future.
For a more in-depth analysis of the report, and to better understand and utilize these financial benchmarks to inform your strategic planning and budget development, listen to Baker Tilly's joint, on-demand webinar with CARF International, Ziegler and St. Catherine’s Village.