By Steve Moran
Several weeks ago I was browsing senior living (yep, total weird geek thing, I mean who does that?) and came across the profile of Bobby Petras, the COO of Priority Life Care. What first caught my eye was that I discovered a senior living organization that I had never heard of.
When I went to their company page I found this:
… we provide and seek out ways to make senior care affordable.
I was crazy excited because here was an organization that I had never heard of and they are working on the affordability problem.
I sent Bobby a “LinkedIn In-mail” since we were not connected, requesting a conversation. Fortunately, he was a Senior Housing Forum reader and responded with an immediate YES!
What they are doing is like the coolest ever thing . . . in fact, so cool that -- rather than writing anything more -- I think you should watch the video! But in case you won’t, here are a few of the highlights:
When they started out they had this idea . . . but no idea what they were doing.
Today they have about 25 communities will likely be at over 40 by the end of 2018. And for that reason alone the industry needs to pay attention.
They are mostly focused on taking dog buildings and turning them into precious jewels.
They have become a favorite buyer of struggling communities because they are so good at making them into something really good.
They have become experts at reducing costs in areas that don’t impact quality of life for residents and team members.
They are also very strategic when it comes to working with vendors to make sure residents are receiving the highest value.
That’s enough. You really need to watch the entire interview because what they are doing is so exciting. I have also stripped out the audio and you can find it on iTunes by searching for Senior Housing Forum. The episode is titled Priority Lifecare: Affordable Income Senior Living is Profitable.