DataPoint: 2018 CFO Concerns

In the recent Ziegler CFO Hotline national survey, 79 percent of not-for-profit senior living CFOs listed staff recruitment and retention as one of their top five areas of concern. Labor costs, including wages and benefits, also caused anxiety for 75 percent of surveyed CFOs. Additionally, skilled nursing/post-acute pressures (47 percent), financial performance (46 percent), and declining reimbursement (36 percent) were frequently-cited areas of concern for financial professionals engaged in senior living communities.

In the survey, CFOs were also asked which organizational priorities they were most excited about. Expansion plans and general growth were the most commonly mentioned areas of excitement. Two-thirds of survey respondents (66.7 percent) said they will be diversifying products and services in 2018, and 52.2 percent agreed that they are well-positioned for the next generation of consumers. Exploring partnerships (joint ventures, affiliations) was somewhat of a polarizing topic for financial professionals. Nearly half of respondents (47.8 percent) agreed or strongly agreed that they will be exploring further partnerships, while 28.9 percent said they disagreed or strongly disagreed with exploring further partnerships during 2018.

The Ziegler CFO Hotline survey is intended to get a sense of the issues prioritized by CFOs in the not-for-profit senior living sector in 2018. Nearly 160 financial professionals from around the country responded to the survey. To view the survey results, click here.

Contact: Ken Allison, kallison@leadingageny.org, 518-867-8820