Finance & Budgeting Made Simple for Senior Living Administrators

Brian Garavaglia, PhD

Assisted living facilities must focus on quality and exercise prudent expense management to achieve sustainable profit margins if they hope to stave off competition and remain profitable.

However, many individuals entering a leadership position are faced with managing a business budget and have limited or no formal training in accounting, finance, budgeting, or statistics.

Finance & Budgeting Made Simple for Senior Living Administrators will provide readers with the financial and decision-making skills they need to achieve quality and compliance on dwindling profit margins.

After reading this book, readers will be able to:

• Apply important financial and budgetary principles to address current cost issues, adequately manage the organization’s finances and anticipate future capital-based needs
• Understand how to calculate per client days to provide a detailed interpretation of the daily budget and monitor costs
• Identify the core concepts of analytics to measure the organization’s status in a streamlined fashion
• Apply real-world examples and case studies that illustrate effective finance and budgeting management

Published: October 2018

Page count: 100
Dimensions: 8.5 x 11
ISBN: 978-1-68308-683-3

Chapter 1: Payer Sources for Senior Living
Chapter 2: The General Accounting Procedure
Chapter 3: Financial Statements
Chapter 4: The Financial Captain: The Balance Sheet
Chapter 5: The Accounting Cycle
Chapter 6Inventory
Chapter 7: Planning and Budgeting
Chapter 8: Cost Containment in Senior Living
Chapter 9: PPDs as the Benchmark for Measurement
Chapter 10: Labor Costs
Chapter 11: Cost Saving Strategies for Multiple Departments
Chapter 13: Common Quantitative Analytical Techniques for Healthcare Administration
Chapter 14: Correlation: The Importance of Measuring Relationships Between Variables

About the Author

Brian Garavaglia, PhD, is a long-term care administrator, gerontologist, consultant, author, and educator. He has 27 years of experience in healthcare, especially in dealing with older adults in the long-term care setting. He currently works as a nursing home administrator in Michigan and is also affiliated with colleges and universities within Michigan and Arizona.