Common Challenges Faced by Senior Living Facilities
Assisted living facilities face a slew of risk on a daily basis. This industry, in all of its forms, is no stranger to potentially hefty exposures. Aside from taking quality care of numerous patients with limited staff, healthcare reform has also played a role in posing even more challenges for the industry. With that said, a Professional Liability for Residential Care Facility program is a must. In addition, let us explore the common challenges these establishments face and how to prevent claims.
The creation of ACOs and MCOs, in conjunction with bundled payments, are changing the tracking of performance. At Senior Living 100, the general consensus was that there is not a specific proven methodology or process available to effectively track performance as part of an ACO, or to identify the bundled payment methodology. Different approaches and different providers in combination with minimal standardization is causing significant issues for the industry.
Family engagement increase.
With the rise of technology, it’s so easy for loved ones of residents to check in and stay informed. Although standard communication procedures to interact with family members is already required, these industry professionals are now faced with spending more time and enhancing their communications with loved ones. Automatic updates, streamlining notifications via phone calls, reducing confusion, and building trust within the facility are all focuses of this industry.
Tracking of data analytics.
Data tracking is the best way for senior living facilities to prove their value and their success. However, with limited funding, much of the technology available to them is lacking and makes it difficult to track patient records, medications, injuries, etc.
At Huntersure, we specialize in providing quality Residential Care Facility insurance programs to respond to each of these areas, designed to safeguard these facilities and their staff from financial loss. Our Residential Care Facility Liability insurance is designed to help protect care facilities and providers from a number of exposures, including allegations of mistreatment, neglect, and wrongdoing. To learn more about our operation as well as our allied healthcare insurance programs, contact us today at (855) 585-6255.