Eldermark supports the National Investment Center for Seniors Housing and Care (NIC) Actual standard.
Minnetonka, Minn., Sept. 13, 2016 – Numbers are simple, common objects that have influential power to make or break a company. Based on a simple number, a company can be considered ‘in the black’, making money, or ‘in the red’, losing money. To monitor these numbers, capital seekers and providers alike require research and analytics regularly for their investors, owners, operators, and other entities. While numbers give the facts, interpretation and affirmation drive each powerful business decision affecting the bottom line.
Often, these numbers and analytics are not portrayed correctly or to the correct contact due to communication restrictions. By collaborating with NIC, Eldermark Software is helping its clients provide transparency to the seniors housing industry. The new financial reports within Eldermark allow for all necessary reporting for NIC’s Actual Rates Data Initiative to be seamlessly exported at the click of a button. “NIC is excited to have Eldermark support this important industry initiative. Eldermark’s willingness to incorporate industry standard data reporting formats makes it easier for their customers to contribute their data to the NIC Actual Rates Initiative,” states Brian Jurutka, President of NIC.
Eldermark Software’s reports, including the NIC Property Inventory report and the NIC Rent Roll report, both part of the NIC Actual Rates Data Initiative, create a process in which the senior housing community does not spend time gathering multiple data from different programs, manipulating it to one spreadsheet, and then hopefully delivering the data to the correct contact in the correct format. Instead, the senior housing communities will benefit from instantly standardized formatted information that the investor entities request, and can then quickly export and send to the correct contact.
The ability for Eldermark clients to access the exact information to deliver to investing entities in easy to configure and report formats allows them to spend more time on essential daily activities, while still providing the correct numbers to the involved partners. Eldermark Software’s NIC Actual Rates reports allow senior housing communities to easily provide information critical to educating investors in the industry.