Ziegler AAHSA National Senior Living CFO Workshop

April 21-23, 2010 - The Broadmoor | Colorado Springs, Colorado

The Ziegler AAHSA National Senior Living CFO Workshop has been designed by CFOs for CFOs. The agenda combines timely topics, experienced and knowledgeable faculty, and an opportunity to network with and learn from your colleagues across the nation.

The workshop begins with a Wednesday pre-conference education session for CFOs new to senior living (4-5:30 p.m.), followed by an opening reception at 6:30 p.m. and ends with a workshop wrap-up lunch on Friday.

WEDNESDAY, APRIL 21 (PRE-CONFERENCE)

Senior Living Finance 101

4:00 – 5:30 pm

A primer for those new to senior living (particularly CCRC) finance. The topics covered include: funded vs unfunded liabilities, actuarial concepts (SOP 90-8), key senior living financial ratios, resident interactions, etc.

David Scruggs (Montereau Inc.)

THURSDAY, APRIL 22

Focus on Finance 2010

8:35 – 9:35 am

This traditional opener to the annual Ziegler AAHSA National Senior Living CFO Workshop provides an overview of the state of senior living finance and sets the stage for the content of the entire workshop. Attendees will hear how the current economic climate is affecting the capital markets and will learn the tools available for building financial strength and positioning their organizations for success.

Dan Hermann (Ziegler)
 

Policy Talk: From Politics to Financial Reporting

9:35 – 10:45 am

This annual review of the latest information on current policy and accounting issues facing senior living providers (in particular, CCRCs) is a “must” for CFOs. Attendees will receive: a regulatory update, a briefing on the Government Accounting Office's exploration of CCRCs, the implications of anticipated health care reform on senior living, and other policy issues facing senior living providers today.

Stephen Maag (AAHSA), Susan Weiss (AAHSA)
 

Breakout sessions

11:00 am – Noon

Accounting Practices Under the Spotlight

The AICPA is anticipating the release of the new Health Care Audit Guide in 2010. This session will give you an advance look at some of the changes that affect both CCRC’s and PACE providers and provide a timely opportunity to discuss the anticipated changes. In addition, recent accounting changes such as the new standards on mergers and acquisitions, clarification on alternative investments, disclosures of interest rate swaps and communication to your board of governance will provide attendees the chance to learn how best to prepare for their upcoming audits. This is a “down-and-dirty” accounting session where attendees will leave with a grasp of the key issues anticipated to affect their accounting procedures in 2010.

Kimberly McKay (BKD LLP), Mark Ross (ParenteBeard LLC)
 

IT Investments: Finding the Sweet Spot

IT Investments: Telehealth, telemonitoring, EHRs…CFOs can utilize this session to educate themselves on the range of technologies currently in use or development and determine how to develop a strategically sound IT investment plan.

Zachary Sikes (AAHSA)
 

Risk Analysis/Capital Adequacy

In challenging economic times, ‘rainy day’ takes on new significance for senior living providers examining their current financial position in light of future known and unknown expenditures. This session will couple recent research in this area with the real-time senior living provider’s analysis/case study.  Attendees will be able to answer the following questions upon leaving this session: What are adequate reserves and how should this be determined? Is there an upper limit on the level of reserves and could a CCRC accumulate too much? What is the appropriate rate of growth in reserves? Is it okay to use reserves for operational issues, e.g., to reduce monthly fee increases? Is it okay to use reserves for capital additions? How much of our reserves should we “borrow” as seed money for an expansion?

AV Powell (AV Powell & Associates LLC)

Breakout sessions

1:30 – 2:30 pm

Operations Under Fire: Taking the Lead at Bringing Change to the Bottom Line – System Breakout

With recent shake-ups in the economic markets, providers have had to scrutinize carefully their operating expenses. Even so, these sessions prove that successful belt-tightening does not always translate to sacrificing quality or services as fellow CFOs share their own experiences from the past year and their recommended best practices for moving forward.

System Breakout Group: Richard Barger (Diakon Lutheran Social Ministries)
 

Operations Under Fire: Taking the Lead at Bringing Changes to the Bottom Line – Single-Site Breakout

With recent shake-ups in the economic markets, providers have had to scrutinize carefully their operating expenses. Even so, these sessions prove that successful belt-tightening does not always translate to sacrificing quality or services as fellow CFOs share their own experiences from the past year and their recommended best practices for moving forward.

Single-Site Breakout Group: Kenneth Reeb (Carol Woods Retirement Community)
 

Breakout sessions

2:40 – 3:40 pm

The Journey Toward Affiliation

The focus of this annual look at the proactive practices of systems will reflect the signs of the times: How to evaluate whether your organization is ready for an affiliation. Hear the pros, the cons, and the lessons learned from those whose organizations have grown through affiliation.

Dan Hermann (Ziegler), Steve Johnson (Ziegler), Tim Myers (Kendal Corp.)
 

The Government Accounting Office Review of CCRCs: Dialogue on the Issues

As a result of recent bankruptcies in the senior living sector, the Government Accounting Office is exploring CCRCs. This session will describe the current state of the GAO's work as well as seek the input of attendees regarding disclosure, both from a regulatory perspective as well as a resident perspective. Attendees will learn the key areas being addressed in the GAO's work.

Stephen Maag (AAHSA)

Bank Approvals: Aligning Expectations with Reality

If you have existing bank credit that will renew this year or next or if you are contemplating additional bank credit exposure, this session will help prepare you for the process that lies ahead.  We all have heard that when credit is available, the terms are more difficult and pricing is worse. But have you heard recently about the credit commitment approval process? Have you heard what to expect from the bank’s real estate department this time around?  Do you know what is in store with the appraisal process and the risks that lie therein? The environment in 2010 is different from that of prior years.

Thomas Gibbons (Huntington Bank), Tom Meyers (Ziegler)

 

Breakout sessions

3:50 – 4:50 pm

Human Resources: Turning Current Challenges into Areas of Opportunity

Many providers have been forced to reevaluate or reconfigure their current HR practices in light of cost cutting. Learn effective strategies to frame the decision-making process in a way that caters to the needs of your workforce while improving on operations.

Richard Carter (Goodwin House, Inc.)

Financial Risk Management 101

Introduction to basic risk management concepts and applications, including the benefits & risks, terminology, market pricing and documentation associated with risk management products…presented from a provider CFO’s perspective!

Scott Determan (Ziegler), Dave Tiesenga (Holland Home)

SNF Challenges: How to Keep the Tail from Wagging the Dog

For most CCRCs, the nursing component is a small piece of the unit mix relative to independent living, but many find that the financial challenges of the nursing home amount to the tail wagging the dog. What are key best practices for ensuring that your SNF operations are solid and enhancing the bottom line while maintaining quality?

Deb Elsey (LarsonAllen LLP)

FRIDAY, APRIL 23

Breakfast Intensives

8:00 – 9:00 am

Financial Risk Management 201

This session explores the more advanced financial risk management tools available to senior living organizations in today’s market environment. Some of the topics discussed in this session will include:  floating-to-fixed swaps and enhancements, fixed-to-floating swaps, basis swaps and option-based structures.  Attendees will leave with the basics of each of the financial products and an understanding of when application of these various tools is appropriate.

Scott Determan (Ziegler)

Alternative Financing Options

As the capital markets continue to shake off some of their more recent challenges, financing options still exist for providers wishing to grow their organizations. This session will look at the costs and benefits of alternative program options provided through Bank Qualified debt, FHA, HUD, the Federal Home Loan wrap, local bank relationships, and others. Attendees will leave with an understanding of the options and also with the ability to see the important changes occurring in covenants, bank relationships, etc.

Tom Meyers (Ziegler), Jeremy Frankel (Ziegler)

Breakout sessions

9:15 – 10:30 am

Tactics for the Single-Site Finance Office (No Handouts)

Once again, back by popular demand, a focused time for single-site CFOs to share tactics for handling the day-to-day as well as strategic responsibilities of a single-site CFO role.

Facilitators: Scott Morgan (Oklahoma Methodist Manor), David Scruggs (Montereau Inc.)

 

Tactics for the Multi-Site Finance Office (No Handouts)

Multi-site CFO Roundtable addressing topics ranging from cash centralization techniques to equipping staff so that CFO's time is freed from data analysis/controller functions for more strategic initiatives.

Facilitators: Deborah Hart (Smith Senior Living), Paul Ogier (Lutheran Senior Services)

General session

Financial Stress-Testing Your Community

10:45 – 12:15 pm

There's nothing wrong with expecting the best from your community, but it would be wise to prepare for a worst-case scenario before doing so. This session will provide you with the necessary tools and processes to simulate the rigors that many communities face during trying times in order to gauge your organization's financial soundness. Attendees will learn how to diagnose potential problems, create a corrective/defensive action plan and develop tools for monitoring ongoing performance.

Keith Seeloff (Dixon Hughes PLLC)

 

Session titles and speakers are subject to change