GE Healthcare Finance Award for The Green House Project

Published On: September 22nd, 2011By Categories: Blog, Research

Today, The Green House Project had the honor of accepting the GE Healthcare Award for Best Paper. Over 1,800 leaders, including top lenders in health care finance, assembled at the National Investment Center (NIC) conference in Washington, DC. The National Investment Center for the Seniors Housing & Care Industry (NIC) is committed to advancing the quality of seniors housing and care by facilitating informed investment decisions for investors, lenders, owners, operators and developers through groundbreaking research, actionable data and dealmaking events. NIC is driven to empower the industry with the insight needed to accurately measure performance, drive business decisions and communicate performance to key stakeholders.
Important findings from The Green House journal article were summarized by NIC’s president:
• Significantly more direct-care and nursing time is delivered in The Green House home
• Overall staffing needs and costs do not increase compared to traditional settings due to a shift from supervisory and department hours to direct care hours.
• The Green House model uses time more effectively, delivering significantly more direct care and nursing hours within lower total direct service hours.
• Average operating costs for Green House homes are between the 50th to 60th percentile of nursing homes nationally.
• Consistent and financially important differences were found in Green House providers’ overall occupancy (7% higher) and private-pay occupancy (a 24% increase) compared to nursing home averages.
• No hidden or unexpected costs were associated with The Green House model.
• Green House homes’ capital costs, including all private rooms and bathrooms, were found to be at the low end of culture change models.
The full journal article, Financial Implications of The Green House (r) Model, can be found in the 2011, Volume 19, Number 1 edition of Senior Housing and Care Journal