Here are the most critical Power BI reports for understanding performance across senior living facilities and making improvements to increase profitability.
Managing senior living care facilities efficiently and strategically tops the list of priorities for any operator who wants to deliver high-quality care while staying profitable.
Data analytics is an essential component of efficient senior living management. Using a tool like Power BI for reporting enables you to cultivate a strong data culture to:
- Support strategic decisions
- Increase productivity
- Ensure compliance
- Improve occupancy rates
- Minimize billing errors
Working side-by-side with many senior living operators here at Skypoint, we’ve come to deeply understand their data challenges. We also figured out how building specific Power BI reports helps them extract more meaningful insights from data across multiple facilities, and factor back into their AI ambitions.
The following Power BI reports consistently deliver the most value, and they are our top picks for senior living operators.
Forecasting
From staffing to budget allocation, you must know what direction your operations are heading to make accurate decisions for the long term. Forecasting reports allow you to track progress over time and compare “where you are” with “where you need to be” to make timely adjustments.
Weekly Census
This critical Power BI report automates all census and occupant reporting, and it’s customizable to meet your needs. Your team doesn’t have to spend days pulling these reports, manipulating the data, and distributing them to various stakeholders.
The weekly census report shows the total number of units in a facility and helps you answer questions like:
- Which units were occupied last week vs. this week?
- How many units are empty?
- How full is a facility?
- How has the occupancy rate changed?
- Where do we stand compared to our budget?
The time slicer allows you to compare how the numbers change daily, weekly, monthly, quarterly, and annually.
The data in this Power BI report is also filterable by payer type. It’s easy to tailor the report to display room counts and see a breakdown of the lines of business within one facility or across locations.
Expense Comparison
This expense comparison Power BI report displays how expenses compare across selected facilities in a portfolio.
View how your costs change within specific categories. Also, identify facilities with lower spending and see how you can apply similar tools or processes to those with higher expenses to reduce costs across the board.
Labor and Expense Forecasting
Senior living operators must staff their facilities with the right people at the right time.
This labor and expense forecasting report helps you understand how many employees you need for each role throughout the day to maintain the required ratio based on the census count. These insights help you make accurate cost forecasting and labor scheduling decisions.
Compare the results with the information on your scheduling tool to ensure you have the appropriate employees on duty and avoid overstaffing or understaffing the facilities. Also, use this report as a budgeting tool to understand the daily, weekly, and monthly costs based on the resident count.
Rent Roll
This rent roll report shows you a breakdown of all the rooms in a facility or community.
You’ll see where the assisted living one-bedroom units are in a facility and how many are occupied, then sort the information by occupancy or care level to gain granular insights into each facility.
Payer Type Information
This payer type information report shows the percentage of various payer types for each facility (i.e. private payer, managed care, Medicaid) and how each changes over time.
Filter the information by care categories, such as independent living, memory care, assisted living, and skilled beds, or use the date slicer to see a breakdown within a specific timeframe.
Sales Activities
This sales activity Power BI report shows you the status of all your CRM activities within a specific period.
Some potential uses are to filter the data down to individual facilities, see how many prospects you’ve had, find out who advanced in the sales process, and analyze conversion ratios at each critical step (i.e. initial tours to return tours to move-ins) to adjust your strategy.
By comparing sales data across the board, you get a pulse on how each facility performs. By encouraging knowledge sharing, lower-performing facilities can learn from high-performing ones. Additionally, this insight helps you analyze time series to see how activities correlate with other events, such as COVID surges.
Labor Overview
Labor is the number one expense for senior living operators.
Insights from this labor overview report help you optimize staffing across categories, including roll-ups, nursing, caregiving, med techs, caregiving, and more. Most importantly, it shows you overtime hours, one of the “low-hanging fruit” levers to pull to control spending.
Financial Reporting
When managing multiple locations, you must track the financial health of each facility and compare performance to optimize profitability across your portfolio. These financial reports help you break down financial data from each location to make informed decisions.
Summary Financial Table
C-suite leaders and executive directors use this automated, high-level summary financial report to understand the general status of the portfolio. It ingests journal entries and income statements and shows critical financial data for each facility, including:
- Revenue
- Expenses
- Net operating income
- Margin
You can break down or cross-filter the numbers by portfolios, slice them by time periods, or analyze the performance of specific categories.
Facility Overview
This facility overview Power BI report enables senior living operators to normalize Per Resident Day (PRD) across categories.
These insights allow you to compare performance across the entire portfolio, analyze each facility’s spending, and see which ones are over budget to target immediate remediation actions.
Revenue Variance
This revenue variance report shows revenue from various categories like rental income, concessions, and concierge. Granular insights reflect residents’ needs and preferences in each facility to help you maximize income with the right mix of services and offerings.
Expense Variance
How your facilities spend their money is as important as where the revenue comes from. The expense variance report breaks down spending into specific categories, such as senior housing wages, SN wages, utilities, and landscaping across facilities.
Operators use this expense variance report to see expenses Per Resident Day (PRD) and perform budget comparisons for the entire portfolio or by communities.
Additionally, you’ll analyze labor costs at the care level or general labor category roll-ups, like nursing, caregiving, med techs, housekeeping, or kitchen.
Expense Detail
This expense detail report shows a breakdown of all revenue roll-ups over a specific time period, like the dollar value and a monthly delta (i.e. percentage change from the prior period).
This Power BI report makes it easy to understand your performance at a glance, with conditional formatting to illustrate your performance with a red or green arrow.
Labor Variance
This labor variance Power BI report shows the actual costs of labor across facilities or by communities and compares them with the standard or budgeted number.
Generate a breakdown of anything from labor hours to overtime hours. By comparing spending across your portfolio and against the budget, you’ll have the necessary insights to make targeted improvements.
Turn Disparate Data Into Actionable Insights
Using the right Power BI reports will help you turn disparate data from various senior living facilities into coherent and actionable insights.
We hope these Power BI report examples provide clarity on which reports you need and how to set them up to generate efficient insights. If you need support with your reporting initiatives, our team is happy to help.
