Nonprofit vs. For-Profit Assisted Living: What’s the Difference?
Assisted Living: Understanding the Nonprofit Definition
There are many reasons why assisted living at The Herrick House is such an excellent choice. One is the fact that as a nonprofit community, The Herrick House puts the needs of residents first. Learn more about what it means to be a nonprofit and how it could impact you or your loved one.
Nonprofit assisted living communities are typically owned by a charitable-based group or a nonprofit organization. These communities often have a mission statement and a set of values which drive their commitment to serve older adults.
In a nonprofit assisted living community, such as The Herrick House assisted living community, leftover funds are funneled back into the community. The goal is not only to sustain the quality of life for residents, but also to continue to find new ways to enhance the entire senior living experience.
Driven by a greater cause, nonprofit communities often place a greater emphasis on lifelong wellness for residents. This can translate to providing more resources for fitness, nutrition, socialization, lifelong learning and other aspects of a healthy lifestyle.
Nonprofits also typically encourage and invite resident and family involvement in decisions that contribute to the growth of the community, bringing everyone together for more of a sense of ownership. Simply put, in a nonprofit setting such as The Herrick House assisted living, you are more likely to have a voice, and you are more likely to be heard.
Also included in the nonprofit definition is the benefit of knowing a non-profit senior living community offers stability and continuity, often with a history of excellent service to seniors and families. There usually is more accountability among staff members in a nonprofit community; caregivers and fellow team members feel part of a greater mission and are committed to delivering compassion and high quality of care.
And because nonprofit assisted living communities are usually smaller in size than their for-profit counterparts, residents benefit from a higher staff-to-resident ratio, resulting in exceptional care and attention. There is also often a greater emphasis on continuous health monitoring, as well as safety and security. Learn more about the safety and security that assisted living communities offer.
Depending on the size and location of the community, nonprofit assisted living is often less costly than for-profit assisted living. This is due to the fact that funds are returned to the community in nonprofit senior living, which can lead to lower monthly fees. Whereas in for-profit assisted living, the bottom line is always geared toward generating profit, which often can mean regular increases in fees. Get helpful tips to decide whether the assisted living lifestyle is right for you.
For-Profit Assisted Living
For-profit assisted living is defined as a community that is run like a business, owned by a company or a senior living group driven to turn a profit. As in any business, concerns over the “bottom line” can factor into decisions concerning staffing levels, wages, ongoing quality improvement and more. As a result, turnover rates among staff members can be high and measures to upgrade technology, amenities and operations might fluctuate year-to-year depending upon earnings.
Every community is unique and what is true for one may not necessarily be true for another. However, national trends indicate that when turnover rate is high and employees are less than satisfied with their wages or working environment, the odds are higher that quality of care will suffer. As with any senior living search, it’s important to thoroughly assess a community and do extensive research before deciding what is right for you or your loved one.
The Herrick House Assisted Living
The Herrick House assisted living is a nonprofit assisted living community, owned and operated by Beth Israel Lahey Health.
Among the many advantages of this relationship is that The Herrick House staff can connect residents and families to a comprehensive range of healthcare services. The Herrick House is nestled in a beautiful and private wooded setting on the upper campus of Beverly Hospital. This unique location offers easy access to physician, outpatient and 24/7 hospital services.
Because The Herrick House assisted living is free of profit-making concerns, all funds can be invested back into what matters most to residents and their families. This can range from upgraded and expanded amenities, new technology aimed to simplify and enhance life for seniors, retaining and attracting exceptional staff members, developing new programs for entertainment and education, and more.
Residents of The Herrick House have access to a range of social, spiritual, cultural and educational programs that offer opportunities for mental stimulation and healthy socialization. Chair yoga, meditation, art classes, outings, Veterans socials, golf putting, movies, birthday luncheons, special events, concerts, religious services and more.
Our smaller, more intimate community makes it easy to feel part of a close-knit, welcoming family. We’d love to tell you more about The Herrick House assisted living. A comfortable, homelike ambiance designed with you in mind. Contact us today, or download our Guide to Respite Care. We’d love to hear from you.
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Assisted Living
Enjoy the safety, security and quality of life offered by The Herrick House, an assisted living facility.
