Seniors glossary

A ¦ C ¦ F ¦ G ¦ I ¦ O ¦ P ¦ S ¦

A

Assisted Living

Wherein additional assistance is provided by the staff for residents on a daily basis but does not cover medical or nursing related care.

C

Continuing Care Retirement Community

A housing community planned specifically for the accommodations and services requirements of seniors including assisted living for ADL and skilled nursing care.

Capitalization Rate

Expected rate of return on a property. The Capitalization rate is often used to derive the value the property basis its annual net operating income. 

Care Plan

Individual specific plan, provided by either nurses, therapists, social workers or other professionals, describing the care activities and directions which the individual, individual’s family or caretaker can follow.

F

Full Time Equivalent (FTE)

Care industry has many part times employees and the FTE metric allows them to calculate staffing requirements. An average of 80 hours across two weeks is considered equivalent to a full time staff.    

G

Geriatric Care

An assessment of an older person’s health, social and financial status with the aim of improving them and achieving desired goals for the older person.

I

IADL – Instrumental Activities of Daily living

Is daily activities like eating, sleeping, personal hygiene, medications and other activities which maintain an individual’s lifestyle or environment. In an assisted living facility, residents are provided assistance to help fulfil theses activities where they face difficulties doing it on their own. 

O

Occupancy

The number of resident days booked vs the total resident days available. Total resident days would be calculated as the product of no of beds and no of days the facility is open.

P

Palliative Care

Specialized care facility focused on care for individuals diagnosed with life-threatening diseases. Most palliative care services are covered under an insurance program.

Per Resident Day

Is a standard operational metric for senior care industry. Businesses calculate heir performance basis this standard unit i.e. Revenue per Resident Day, Nursing hours per resident day, etc.

S

SNF

Skilled Nursing Facility which providing either short term rehab focusing therapeutic treatment for speech, physical therapy, etc. and long term custodial services focused on long term medical care and daily needs assistance for seniors.

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