Discovery Senior Living adopts new 4-tiered Approach To Operations, Quality
Discovery Senior Living has announced the latest “evolution” of the company’s operational model.
Discovery is now organizing its multiple brands into four tiered segments – select, classic, premium and distinguished — that group communities by revenue potential, resident rates, budgets, staffing, complexity of care and services, design and amenities
Previously, the operator’s regional and national leadership teams supported the company’s communities across different ownership groups, markets and operating models. As it grew, the company naturally gravitated toward a more tiered approach.
Discovery is using the new tiered standards to create guidelines for like communities to follow regarding culinary, resident engagement and experiences, health and wellness, care services and memory care. The company’s leaders are doing so to more quickly onboard new communities.
The operating brand LakeHouse Senior Living, for example, makes up the select tier due to having smaller communities in secondary and tertiary markets, Diana Ferrante Thies, executive vice president of brand management and corporate communications, told Senior Housing News. The Calligraphy brand, on the other hand, is in high end markets with high budgets, placing it in the distinguished tier.
Discovery’s footprint now numbers 420 communities. The new strategy represents a “natural progression” of the company’s operations and platform, according to Richard Hutchinson, CEO of Discovery Senior Living.
“We’ve always believed that different community types require different operating approaches,” he said in a press release.
Segmenting its portfolio isn’t a new concept for Discovery. The Bonita Springs, Florida-based operator has for the last five years operated multiple operations companies representing more than a dozen brands today, spanning price points from middle-market to high-end. The company’s operating companies include Terra Bella, Summer House Senior Living, LakeHouse Senior Living, Arvum Senior Living and Provincial Senior Living.
“By aligning all disciplines: sales, marketing and operations, through segmented playbooks, we’ve created a full system that enables Discovery to better integrate and optimize any community type, replicate best practices across a growing portfolio, differentiate our programs and drive improved occupancy, margin expansion and NOI performance for our ownership groups,” Ferrante Thies said in the press release.
Earlier this week, Discovery announced it is continuing to manage a 36-community portfolio after it changed hands to HF Acquisitions Holding, a joint venture between principals of Discovery, a long-term capital provider and National Healthcare Properties (Nasdaq: NHP).
Alongside the management announcement, HF Acquisitions Holding acquired 23 communities, 20 of which were already managed by Discovery.
The new tier system is the company’s next evolution, Ferrante Thies said.
“It’s the next phase that will really help our teams,” she said. “Capital partners will appreciate that we’ve put guardrails and guidelines in place.”
The post Discovery Senior Living Adopts New 4-Tiered Approach to Operations, Quality appeared first on Senior Housing News.
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