The positive financial benefits of credentialing are significant. That’s why LTC’s and other memory care residences are exploring how to become a Montessori Inspired Lifestyle® Credentialed Residence –
There are definitely positive financial benefits of credentialing. You’ll see a return on investment (ROI) after implementing person-centered care with activity adaptation for residents with dementia, and here are some points to back up that statement:
- Improved Reputation and Attractiveness: By providing person-centered care and adapting activities for people with Alzheimer’s and other forms of dementia, your LTC facility can develop a reputation for delivering high-quality, compassionate care. Positive word-of-mouth and reviews from satisfied families can attract more residents and increase occupancy rates.
- Higher Resident Satisfaction and Retention: Person-centered care that focuses on meaningful activities enhances the overall experience for residents, leading to higher satisfaction levels and greater engagement. Satisfied residents are more likely to stay longer in your facility, reducing turnover rates and the associated costs of recruitment and training.
- Reduced Behavioral Management Costs: Implementing activity adaptation will result in fewer behavioral challenges among people living with dementia. This, in turn, reduces the need for additional staff resources and interventions for managing agitation, wandering, and other challenging behaviors.
- Lower Staff Burnout and Turnover: Person-centered care improves the work environment for your staff, as they see the positive impact of their efforts on residents’ lives. Reduced stress and increased job satisfaction can lead to lower burnout rates and reduced staff turnover, saving costs associated with hiring and training new employees.
- Increased Family Involvement and Trust: Engaging families in care decisions and activities foster trust and appreciation for your LTC facility. Families are more likely to choose a facility that prioritizes the well-being of their loved ones, resulting in increased referrals and a positive reputation within your community.
- Potential for Cost Savings in Medication Use: Meaningful activities and person-centered care can lead to decreased reliance on medications for managing behavioral symptoms. This can result in cost savings related to pharmaceutical expenses.
- Positive Regulatory Outcomes: LTC facilities that provide excellent person-centered care and activity adaptation are more likely to receive positive evaluations from regulatory agencies. Meeting and exceeding regulatory standards can result in financial incentives and reduced risk of penalties.
- Differentiation in a Competitive Market: As the demand for high-quality dementia care grows, LTC facilities that implement person-centered approaches and activity adaptation will stand out in a competitive market. Being a leader in dementia care can attract more residents and maintain a competitive edge.
- Opportunity for Grants and Funding: Some grants and funding opportunities are specifically targeted towards initiatives that improve dementia care and resident well-being. Implementing person-centered care can make your LTC facility eligible for such funding, further supporting ROI.
- Long-Term Cost Savings: While low investment costs might be required to train staff, modify facilities, or implement new programs, the long-term cost savings resulting from improved resident outcomes, higher occupancy rates, and reduced turnover can lead to a positive ROI over time.
The Montessori Alzheimer Center is the Canadian training partner of the Center for Applied Research in Dementia.
Learn about the credentialing process here. Or contact us for more information and answers to your questions.
