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Homage to Owning the Lingo

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It is all about speaking the same language with prospects and referral sources Terminology is ever changing and often interchangeable Not just senior living, but: Healthcare Financial Operational Real Estate

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Disclaimer Game to Test Your Ability (and have fun) The Sober Valley Lodge 12 Step Game Where primary participants achieve radical success through industry lingo B*tchin-ness

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Three Teams Potpourri of topics and sources Answer questions correctly to earn steps Lose steps for wrong answers Bonus steps for wedging other team Goal Complete the 12 step program and earn bonus rock star steps

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Duh winning!

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Boom 1 step Tigers Blood 2 steps Adonis DNA 3 steps

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Golden Sombrero Lose 3 steps for wrong answer Ride the Mercury Surf Board Opportunity to steal a question after a wrong answer B*thchin Rock Star - 5 step answer

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Bud FoxsWild Things2 (wo)Men GregKathyKarla NickiLarrieElissa JulieMariaNicole KirstenNancy

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Q-What is the acronym ADLs short for ? A Activities of Daily Living

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Q Name all 7 ADLs: A Ambulation Bathing Dressing Feeding Toileting Transferring Continence

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True or False, All CCRCs offer a Full Continuum of Care? A False, a full continuum is generally considered independent living, assisted living, memory support and skilled nursing all on site but some CCRCs offer limited on site licensed care.

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Q AAHSA is the largest non-profit industry association lobbying for the Senior Housing Industry. What does AAHSA stand for? A- American Association of Homes and Services for the Aging

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Q What is AAHSAs new name A Leading Age

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True or False, Endowment Fee, Resident Deposit and Entrance Fee refer to the same thing? A True, all are terms for a fee paid in full at time of independent living occupancy. While these can be used interchangeably, contracts vary by community.

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Q CON stands for? A- Certificate of Need, government agency approval for constructing or expanding a health facility or service.

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Q-The Case-Shiller index is an industry standard for measurement and tracking of what trends? A- Actuarial trends in aging and healthcare B- SNF Medicare survey deficits C- National and regional home prices D- CCRC financial performance A C-An index calculated from data on repeat sales of single-family homes, behavioral science and economic bubbles developed into tradable indices based on the data for the markets which are now commonly called the CaseShiller index.

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Q True or False, all life care communities guarantee set monthly fees regardless of care level? A- False, life care community is sometimes used interchangeably with CCRC. Life care communities usually offer one of three types of contracts for higher care level fees- Type A all inclusive Modified discounted care Fee for Service market rate

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Q- The Americans with Disabilities Act (ADA) requires: 1. All apartments in independent be ADA accessible. 2. Only AL apartments need to be accessible. 3. Any IL apartment must be adapted at the request of the resident. 4. A percentage of IL apartments are adaptable to ADA based on local requirements. A 4- A percentage of IL apartments are ADA accessible in accordance with local requirements. Sponsors may also have corporate standards relating to this.

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Q When is the feasibility study is conducted ? A This is a study done prior to financing encompassing a review of PMA, pricing, competition, sales history and projections, market penetration etc. Prepared by an accounting firm, this is considered the benchmark for future performance.

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Q It is often said that a communitys biggest competition is a prospects own home. This option of staying at home rather than a community is called? A- Aging in Place, a retirement option that allows a senior to stay in their home as long as possible through home design and services.

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Q- Stabilized occupancy is typically assumed to be: A- 75 %+ B- 85 -90% C- 92-95% D- 100% A C-This is the assumed final occupancy level that the community will operate at identified in the feasibility study.

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Q Bond Covenants, the sales and marketing targets established at financing to measure sales and marketing progress, are calculated in the following way: A A sophisticated financial model that assures achievement of stabilized occupancy B By calculating the historic sales pace at financing and applying it C These are standardized and the same for all communities D- None of the above. A Trick question, none of the above. If you know the correct answer you can have Bruce Byers jo b!

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Ziegler.com resources, Glossary of Senior Living Finance Terms AASHA.org

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Did you get at least 12 Steps (points)? Winner!