2024_Fall_Finance_Conference - 4

SESSION DESCRIPTIONS
TUESDAY, OCTOBER 15 | CONCURRENT
SESSIONS
10:45-11:45 a.m. | 1-C
Growth Strategies for Not-For-Profit Providers | Stuart
Jackson & Brad Straub, Greystone
Over the last five years, for-profit development has
outpaced not-for-profit development by 800%, while
not-for-profit growth has primarily occurred at the
organizational level through affiliation between existing
organizations. To maintain market share, it is critical that
not-for-profit providers undertake new development,
major expansions, and grow their home and communitybased
services to remain relevant in senior services.
This session will discuss the latest trends for the next
generation of senior living communities and explore case
studies of how providers are responding to the changing
consumer mindset and growing their market position
through repositioning and expansion of existing assets.
Objectives:
* Highlight avenues for not-for-profit organizations to
maintain and grow their market share.
* Explore the experiences and challenges faced by
providers as they expand into new markets.
*
Identify a path to growth that will help them increase
market share and secure their organization's ability to
continue serving a mission for decades to come.
1:00-2:00 p.m. | 1-D
Managing Operations Based on Metrics and KPIs |
Michael Falbo, Concordia Lutheran Ministries
The session would be about establishing key performance
indicators for CCRC/LPCs. It would go through certain
common industry KPIs like: nursing hours per patient
day, meals per labor hour, therapy hours per part A day,
avg cost of hire, turnover rate, etc. It then would give
examples of how to gather the raw information to calc the
KPIs and examples of what information could be used to
generate the KPI. It would then move on to how the KPI as
used when it comes to making schedules and evaluating
financial results and stress the importance of managing to
the KPI, not the gross budget.
Objectives:
* Establish key KPIs to monitor.
* Building systems to gather the KPIs timely.
*
Integrating the KPI as the key ways that finances are
managed.
1:00-2:00 p.m. | 1-E
The CFO's Pivotal Role in Guiding AI Integration |
Adam Arker & Anne Balduzzi, Hartman Executive
Advisors
As senior living organizations continue to find ways to be
efficient and maximize revenue and reimbursement, they are
financial constrained to add additional full-time staff. Given
that reality, AI and automation are becoming increasingly
integral to the senior living industry, and with the advent of
the role of the CFO being more strategic and operationally
involved, they play a critical in guiding and championing these
initiatives. Although tempting to run out and start looking for
opportunities, it is essential for senior finance leaders to ensure
that foundational elements are in place to support successful
implementation. This session will go into detail about what
finance leaders need to do in terms of data infrastructure and
data governance frameworks that will ultimately serve as the
backbone for any AI and automation efforts. By focusing on
these preliminary steps, leaders can mitigate both financial and
cyber risks and set the stage for AI integration.
Like with any technology investment, finance leaders want
to make sure they see a positive return on investment when
it comes to AI and automation tools. The presenters will
discuss ways for attendees to collaborate with IT and other
senior leaders to develop a strategic IT roadmap aligning AI
initiatives with financial and operational goals while making
this consumable to staff and other constituents. By attending
this session, CFOs will gain the knowledge and tools needed to
effectively navigate and lead their organization's AI journey.
Objectives:
* Prepare for AI integration by assessing data
infrastructure and governance.
* Prioritize AI-related projects with the highest potential
return on investment.
* Develop a strategic IT roadmap that aligns AI initiatives
with financial and operational goals.
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Visit LeadingAgePA.org/Fall-Finance to register
LeadingAge PA Fall Finance | October 15-16, 2024

https://www.leadingagepa.org/education-events/fall-finance

2024_Fall_Finance_Conference

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