Continuing Care Retirement Community Experience

We will develop a valid database to allow objective analysis of continuingcare retirement communities (CCRC) and other senior congregate living arrangements based on dataspecific to these facilities. In contrast to current generic databases, this database, designed for updatingand future enhancement will be built from the collection of a minimum 50,000 life years of CCRCexperience. The new database will allow the development of tools to provide sound financial projectionsof future costs and determine whether a CCRC is priced and reserved appropriately or whether thepromises are empty. Phase I will define the community and resident data to be captured, establishcommon definitions and design flexible computer software for data collection. Phase II will collect,validate, merge and analyze the data. Morbidity and mortality standards for an insured older population(CCRC residents) will be produced from the database for use in secondary research and financialmodeling of CCRCs. Applicable factors reflecting differences between communities' resident transitionrates will be developed. The database will be available to researchers at cost and to commercial usersat a profit. Flexible data collection and management information software will be sold to CCRCs.Financial models based on new rates of mortality and transition will be marketed to existing anddeveloping CCRCs to enhance financial viability over the long term.