Market, Economic & Operations Consultants
Crown Research Corporation consults with clients in evaluating general regulatory issues, project structuring, financing alternatives, marketing, ownership, design, and operating issues that relate to proposed retirement facilities and services. Since this work cannot be precisely quantified, it is commonly offered on an hourly basis, plus expenses at actual cost, invoiced and settled monthly.
Crown Research prepares economic feasibility analyses which include a plan of financing, a description of the financial structure and application of all projected capital and operating funds (with subsidiary documentation), attrition and morbidity projections, health care utilization projections, annual balance sheets, and recommended pricing for resident/patient care. This work is overseen by a staff CPA and is formatted pursuant to the general requirements of the selected funding vehicle or regulatory agency.
This process is involved in preparing an evaluation of existing and proposed facilities within the prospective primary service area. The survey can concentrate on viably-sized congregate, residential, assisted living, and life-care communities available to prospective residents within the primary market. Information gathered typically includes location, sponsorship, program licensure, facility description, pricing, occupancies, and an evaluation of these facilities' competitive potential.
The Site Analysis is a general evaluation of the project's potential to support senior services and facilities. The process involves reviewing the present zoning and other municipal requirements. Additionally, this review analyzes the merits of the site's location with respect to medical services and facilities, retail and commercial centers, public transportation, cultural and civic centers; as well as it's "address" or curb appeal and other amenities.
This process involves an analysis of the primary market to determine the number of prospective residents who qualify for admission. This is based upon their present residency, age, and their ability to afford residency in the prospective retirement or care center. The demographic summary includes sensitivity analyses using several proprietary methodologies to measure market penetration requirements under various pricing and development scenarios
Crown Research Corporation establishes operating systems for retirement communities, such as computerized marketing system management, financial reporting systems and cash management, staff relations and employee manuals, resident relations and resident handbooks, board organization, decision-making policies and other related policies and procedures.
Crown Research Corporation's long-range planning services help clients to maximize their resources and to cope with the problems associated with obsolescence, aging in place, and changing markets. This research commonly leads to program and facility revision to meet market requirements, more attractive financing terms, reduced operating costs, and capital expansion
Crown Research Corporation's focus groups are an effective means of securing hard-to-get subjective information on sensitive subjects from residents, staff, board members, and the general public. Such research is particularly helpful in determining attitudes regarding sponsorship, existing or planned facilities, neighborhoods, resident fees, payment plans, management plans, administration, and the facility's Board of Directors.
Crown Research Corporation prepares applications on behalf of the client which will address various governmental agency requirements. In those states which operate under the Certificate of Need program for allocating health care and related services, Crown Research can prepare and submit the application and provide all technical assistance in meeting the associated requirements. In states requiring a specific methodology of market and economic feasibility analysis, Crown Research will format research pursuant to regulatory expectations.