News & Press Releases
Matrixcare Helps NIC Advance Rate Transparency In Seniors Housing And Care
SAN DIEGO (February 20, 2019)— The National Investment Center for Seniors Housing & Care (NIC) kicked off its Spring Conference in San Diego by announcing that MatrixCare, a long-term care software provider, has been certified as NIC’s newest Actual Rates Software Partner. This distinction means MatrixCare will offer reports that enable operators to easily report the most accurate data on the monthly rates a seniors housing resident pays as compared to the property’s asking rates.
“MatrixCare’s participation in this effort is an important step forward in increasing transparency and providing operators the opportunity to easily contribute their data. Contributing operators also receive a complimentary report which allows them to compare their own data against national, and, over time, metropolitan area benchmarks,” said Brian Jurutka, president and CEO of NIC. “By making these data available in seniors housing, we are helping to improve transparency and enable investors to make more informed decisions.”
The NIC Actual Rates Software Partner certification recognizes those companies that have developed reports that meet the NIC Actual Rates standard format and who have had two or more operators provide at least six months of data using the standard report. MatrixCare joins Yardi in this designation.
“We’re pleased to participate in this program as a means to advance both our customers and the industry itself,” said John Damgaard, president & CEO of MatrixCare. “It benefits participating operators by helping them understand how their properties compare to benchmarks and provides insight into competitive discounting, so our customers can adjust pricing as needed to shorten the sales cycle.”
The announcement was made during the 2019 NIC Spring Conference: Investing in Seniors Housing & Healthcare Collaboration, a forum to facilitate conversations, partnerships, and education among seniors housing & care investors and operators as well as healthcare providers, all of whom seek to succeed in a value-based care world. Keynote speakers include former Speaker of the House Paul Ryan and healthcare futurist and author Ian Morrison.
In addition to the new software partner, Jurutka and NIC executives also announced the addition of the Seniors Housing Rate Tiers Report to its NIC MAP® Data Service. This NIC MAP data provides a historical time-series of:
- Trends by top, middle, and bottom tiers of properties based on average market rates (AMRs) within respective metropolitan markets
- Both independent living and assisted living properties
- Trends for AMR, annual rate growth, occupancy, and inventory
These data allow users to compare higher-rate properties against their portfolios; provide quantitative and objective rate tiers approach, instead of subjective “class categorizations” seen across other commercial property types; benchmarks to comparable properties by investors and operators; and compares property performance against a similar benchmark classification by rate quartiles.
The 2019 NIC Spring Conference is taking place today through Friday, February 22nd at the Hilton Bayfront Hotel in San Diego.
# # #
Follow the conference on Twitter at #NICSpring19. For more information and to schedule an interview, please contact Rachel Griffith at 202-868-4824 or RGriffith@MessagePartnersPR.com.
The National Investment Center for Seniors Housing & Care (NIC) is a 501(c)3 organization established in 1991 whose mission is to enable access and choice by providing data, analytics, and connections that bring together investors and providers in independent living, assisted living, memory care, skilled nursing and post-acute care. Through its industry leading annual conferences, NIC MAP® Data Service, research, analytics and sector outreach, NIC serves as an indispensable resource for the seniors housing and care sector. For more information, visit www.nic.org and follow NIC on Twitter.