RSMUS.comSenior living communities have arrived at a long-awaited inflection point. The oldest members of the Baby Boomer generation will turn 79 in 2025, just below the average age when people enter senior living.
As this generation begins moving into senior living communities in great numbers, demand will surge past all previous records. The future looks bright for this industry as America’s population gets older—but that doesn’t mean everything will be smooth sailing. To adapt, providers will need to balance supply and demand, adjust their supply chain, rethink hiring needs, and scale operations, all while meeting higher expectations from customers and regulators.
Navigating these issues will be complex and cumbersome, but those that succeed are well positioned to prosper long into the future. To make the most of this pivotal moment in the senior living industry, we suggest using Sage Intacct.
What is Sage Intacct?
Sage Intacct is a financial management platform that integrates core accounting tools with more advanced features for financial planning and analysis. It also combines all financial data together with extensive amounts of operational data, making it, in many cases, the first, best, and only platform users need to reference for answers and information.
Senior living communities have been eager adopters of Sage Intacct, both to address the challenges they face now and in anticipation of the issues coming down the pipeline. More than just a bookkeeping tool or piece of accounting software, Sage Intacct gives providers the tools, insights, automation, and API integrations they need to manage complex operations, all synthesized on a single cloud-based platform.
Addressing Key Challenges
Unlike software that merely adds new features and functions, Sage Intacct delivers meaningful solutions to the key challenges facing senior living operators:
- Data Overload – Get actionable insights from mountains of data with user-friendly reporting tools and dashboards that update KPIs in real-time.
- Siloed Systems – Integrate financial and operational systems on one platform to get a holistic view of operations and facilitate agile decision-making.
- Labor Constraints – Reduce labor requirements by using technology to uncover efficiencies and automation to accomplish more with less.
- Regulatory Burdens – Stay HIPAA compliant using financial tracking and reporting tools built to align with regulatory requirements.
- Operational Visibility – Track non-financial metrics like occupancy rates, resident encounters, and efficiency ratios with ease to uncover opportunities for improvement.
- Financial Transparency – Get the whole financial picture—all the time, in one place—by consolidating data from various entities and locations.
With these challenges out of the way, and former weaknesses turned into strengths, senior living operators can shift their focus to getting bigger, faster, smarter and stronger. From increasing margins and improving supply chains to optimizing staff and aligning people, process, and technology, Sage Intacct makes the already bright future of senior living look even better.
The RSM Advantage
All the pieces are coming together. Senior living operators can expect strong demand for years to come, and with Sage Intacct, they have a powerful and practical toolkit to meet that demand. Now add RSM to the equation to make success all but assured.
Our experts have deep expertise with Sage Intacct and a long background serving the senior living industry. Knowledgeable about business, technology, and everywhere they intersect, experts from RSM are here to implement Sage Intacct and get the most from the platform, all while requiring the least from operators and end users. RSM knows how.
If you’re ready to explore what the Sage Intacct technology and the RSM team could do for your senior living community, prepare to be impressed by the possibilities. Contact us at your convenience.
