Navigating inflation and cost management in senior living

Rising costs squeeze margins while the need to maintain affordability for residents remains paramount. Group Purchasing Organisations (GPOs) like Entegra offer a strategic solution to navigate these challenges.

The rising cost challenge

Senior living facilities are facing unprecedented cost increases across the board. From food and medical supplies to construction and utilities, expenses are soaring. At the same time, many communities are suffering from reduced service quality or deferred facility maintenance. This dual pressure threatens financial sustainability, making effective cost management crucial.

The GPO advantage: How GPOs Can Transform Cost Management

GPOs like Entegra can be a game-changer for senior living communities. By combining the purchasing power of multiple facilities, Entegra harnesses economies of scale, negotiating significantly lower prices on supplies, services, and construction materials. This collective approach translates into substantial savings, allowing communities to maintain quality care while preserving affordability.

Core GPO benefits

• Enhanced resident care and amenities: GPO savings can be invested into improving resident well-being and community features.
• Energy efficiency: By offering lower prices on energy-efficient technologies (LED lighting, HVAC systems), Entegra can help reduce utility costs and promote sustainability.
• Construction cost reduction: Bulk purchasing agreements for construction materials and favourable contracts with construction firms can lead to significant savings on building and renovation projects.

Unexpected savings opportunities

Beyond core savings, GPOs like Entegra can often provide access to lesser-known contracts that can generate substantial cost reductions:

• Waste management: GPOs like Entegra can negotiate lower rates for oil disposal and waste management, ensuring compliance while controlling costs and contributing to sustainability initiatives.
• Kitchen equipment: Access to discounted, high-quality kitchen equipment can allow for efficient kitchen operations without breaking the bank.

A strategic partnership for success

In today's inflationary environment, GPOs like Entegra can be essential partners for senior living communities. By leveraging collective buying power, Entegra can help manage costs, maintain affordability, and ensure the well-being of residents. As senior living operators navigate economic complexities, a partnership with Entegra can be the key to financial stability and continued success.

Explore how Entegra can help your community thrive despite financial pressures. Contact us to learn more. You can also read more about how we serve our senior living clients.