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Assisted Living Concepts?
QUESTION: One that has made a splash in the northwest is called Assisted Living
Concepts.
I really know nothing about it. I took a quick glance, but have not yet
moved it onto the radar screen, although it is possible. Most of the
articles around here (Portland) have seemed positive, but the press is
usually friendly.
It is a fairly new company, growing fast and either is still losing some
money or has just started making profits. I think they have recently
gotten more money from a placement, but I can't remember.
Disclaimer: I am not, and have not been an owner of Assisted Living
Concepts. Everything stated above might be true, but is based on
memory, not research, so some things might be wrong. DO YOUR OWN
RESEARCH.
ANSWER: I can tell you this much.... there is GREAT promise in investing in
nursing homes *AND* there will be GREAT risk.
My fiancee is a nurse and currently working in an Assisted Living
Facility for Alzheimer patients. The majority of the residents living
there are paying a minimum of $2,000 per month just for room expense!
With the baby boomers coming up.... so will the rent and room occupancy
meaning more profit!
The risk comes to play in how the management runs their staff and WHO
they hire (what qualifications) for their staff. My fiancee worked as
a temp nurse in many of the FL Nursing Homes before sticking with the
ALF and she came home many a night with horror stories of how other nurses
treated patients poorly, how there wasn't enough staff to adequately give
proper care, etc. etc. etc. Let me just say, my fiancee has stated that
she will NEVER be put into a nursing home (nor will I for that matter) and
she will take matters into her own hands if it comes to that ala Kevorkian.
I guess what I'm saying is.... there's money to made until a family member
walks in for a visit and sees 2 nurses trying to care for 30 babbling
elderly people one of those 30 happens to be their mom who's running
around naked with excrement all over her body *or* some other nurse is
stealing the clothes from one of the residents... beating the resident...
etc. etc. etc. WELCOME TO YOUR FAMILY NIGHTMARE & LAWYERS WET DREAM!
Between a nursing home and an ALF of Alzheimers patients.... I'd go with
the ALF for there's probably less risk in the sense that all the nurses
are doing is taking care of 'Babies' in adult bodies. They shower, change
their diapers, groom them give medication if necessary, and that's about
it. Nursing homes, the patients 'minds' are still there, but their bodies
aren't so the patient is VERY BITTER (wouldn't you be?)... tends to drive
the nurses batty seeing how the ones doing the mop up jobs are just CNAs.
Don't know if any of this helps you.... but A LOT of investigation should
be given into which facility you'll be investing in. There are some good
ones and there are many bad ones!
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