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Formation Healthcare Group & VisionLTC Announce Launch of CarePrepare – an Assisted Living Quality Database
February 1, 2018
Atlanta, GA and Raleigh, NC - Formation Healthcare Group (“FHG”), a subsidiary of Formation Capital, and VisionLTC today announced that they are rolling out CarePrepare, the industry’s first Assisted Living Quality Database to a select group of pilot partners. CarePrepare is a comprehensive analytics platform that provides aggregated regulatory outcomes and consumer rating data for assisted living facilities currently spanning 75% of the nation’s population.
“Assisted Living is regulated differently in each state, making a consolidated quality database a much-needed resource in the market to understand, analyze, and compare AL properties. VisionLTC and Formation Healthcare announced our partnership to develop this tool in October and we are excited to now launch CarePrepare,” said Jessica Curtis, Vice President of Clinical Systems & Analytics at FHG.
“For the first time, the seniors housing industry will have a single source for assisted living asset analysis, reputation evaluation, portfolio monitoring, operator benchmarking, clinical analytics, market analysis, and consumer and referral source education,” said Arick Morton, CEO of VisionLTC, “We are taking critical performance data that has long been locked up in state regulatory databases and democratizing access and translating complex survey results into standardized, easy-to-understand measures.”
CarePrepare enables a range of highly valuable use cases for stakeholders across the senior housing industry:
Portfolio Monitoring & Benchmarking: Track, monitor, and benchmark survey results across their portfolios, keeping tabs on performance and identifying potential areas of risk
Asset Exploration & Benchmarking: Explore and benchmark in-depth survey results at the individual asset level to identify risks and understand historical community performance
Operator Evaluation & Benchmarking: Evaluate and compare the survey performance of individual operators
Community Leadership Evaluation & Benchmarking: Assess and compare the survey performance of individual executive directors and community clinical leaders
Community Comparison: Compare communities side-by-side on a range of key survey and reputational metrics
Survey Trend Analysis: Evaluate survey trends at the local level to take proactive measures to improve survey outcomes
Referral Source Education: Benchmark survey results against local competitors and demonstrate operational superiority to key referral sources
Consumer Education: Benchmark survey results against local competitors and demonstrate operational superiority to prospective customers
CarePrepare is a first-of-its-kind survey and regulatory analytics platform for the assisted living and memory care industry. CarePrepare allows owners, operators, lenders, and other industry stakeholders to assess, explore, and benchmark survey outcomes and operational performance. CarePrepare facilitates improved acquisition evaluation, asset management, site selection, and operational performance. For more information on CarePrepare, please visit www.careprepare.com.
About Formation Healthcare Group
Formation Healthcare Group is a clinical consulting group that tracks, trends, benchmarks, analyzes, and reports on the clinical performance and regulatory compliance of operators and their facilities. We use our regulatory knowledge along with our Quality In-Cite® database and PARA-SCOPE® risk tool to proactively alert owners, operators, management companies, private equity firms, investors, and lenders to insights that will impact value in a monitored asset or potential investment. For more information on Formation Healthcare Group, please visit www.formationhealthcare.com.
VisionLTC is the senior housing industry’s leading market analytics technology firm providing analysis of seniors housing market conditions anywhere in the US. Created by a team of industry veterans, VisionLTC provides tools to empower the senior-housing industry’s research, analysis and operations processes. Whether you’re conducting research on new markets, analyzing acquisition opportunities, or trying to identify referral sources for your facilities – the VisionLTC platform is for you. For more information on VisionLTC, please visit .