Compare Our Pricing to that of Other Facilities
Most retirement/assisted living facilities offer similar services. However the pricing, and how the pricing is calculated, differ considerably. This is important to understand as you compare one facility to another.
All facilities identify a BASE RATE. The base rate generally covers only the cost of the apartment or room and some or all meals. Some facilities include a limited number of services or a limited amount of time providing these services before additional costs are added.
There are three basic pricing methods used by operators of retirement/assisted facilities:
1. All Inclusive Pricing,
2. Base Rate PLUS Points,
3. Base Rate PLUS Time.
The All Inclusive Pricing means just that. Your expected monthly cost is the pricing you are shown as the Base Rate. Any additional costs (if any) are separately identified and you are made aware of exactly what services and the prices you will incur before you are charged.
Generally the Base Rate PLUS Points and the Base Rate PLUS Minutes mean exactly that. You will be billed the base rate plus an additional amount based on the amount of time expended providing services (i.e. the PLUS Time method) or amount of Points accumulated (i.e. the PLUS Points method).
The Points method is based on a chart of services established by the facility to which points are assigned. Generally as points accumulate your base price goes up. For example when you accumulate 4 points in a month the base goes up $200, if 8 points are accumulated the base rate for that month increases $400 and so on.
The Time method works in a similar manner. Time spent providing services to a resident is tracked. The facility has a list of services which assigns costs based on minutes and type of services provided. For example assistance with ted hose may be priced at $3 per 10 minutes or portion thereof. Or a nurse attending a resident may be charged at $17 per 10 minutes or portion thereof.
When discussing the actual monthly cost with the facility find out if their advertised price is "All Inclusive Pricing" or Base Plus either Time or Points.
Then have them show you the Time or Point charges assessed to the average resident each month. This will provide you meaningful cost comparison among facilities.