Our 33rd Skilled Nursing Facility Cost Comparison Report shows a downward trend in financial performance for many SNFs. Your organization should plan for changes in the industry.
CLA (CliftonLarsonAllen) has released its 33rd edition of the Skilled Nursing Facililty (SNF) Cost Comparison Report. This report, based on 2017 data, gathers financial and operational data from SNFs across the country to help leaders examine how their SNF’s performance compares to others in their region.
Data from last year’s report exposed sweeping declines in financial performance, as measured by operating margins, and that trend continues based on new data. While there are certainly a number of high performing SNFs, data shows that even the top quartile are not performing as well as prior years.
“The SNF environment is going through a drastic transformation,” said Cory Rutledge, managing principal of senior living with CLA. “The challenges facing some skilled nursing providers is substantiated by the unfavorable financial results of many SNFs. While this report explores a number of useful ratios and metrics that have been helpful to thousands of SNFs for more than 30 years, we view these benchmarks as only the first step to help providers determine how their performance compares to others. Providers must have context to the data they look at in order to gain actionable insights that inform operational and financial decisions.”
Download the 33rd SNF Cost Comparison Report at CLAconnect.com/SNF18.
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CLA exists to create opportunities for our clients, our people, and our communities through industry-focused wealth advisory, digital, audit, tax, consulting, and outsourcing services. With nearly 9,000 people, more than 130 U.S. locations, and a global vision, we promise to know you and help you. CLA (CliftonLarsonAllen LLP) is an independent network member of CLA Global. See CLAglobal.com/disclaimer. Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor.