NIC certification advances transparency, offers operators easier reporting of actual monthly rates paid by senior living property residents.
The National Investment Center for Seniors Housing & Care (NIC) announced the NIC Actual Rates Software Partner certification of Glennis Solutions at the kick-off of the 2021 NIC Fall Conference. NIC-certified software partners can offer their operator customers an easier and more efficient means to regularly share their actual rates data - the most accurate data on the monthly rates a resident pays when living in a senior housing property.
Actual rates data is comparable to data available in other real estate asset classes. By making this data available in senior housing, NIC is helping improve transparency and enabling capital to make more informed decisions. Operators contributing data to the NIC MAP Vision Actual Rates report receive a complimentary report which allows them to compare their own data against national, and certain metropolitan area benchmarks.
NIC-certified software partners must develop reports that meet the NIC Actual Rates standard format and provide two or more operators’ data for six months using those reports. Actual Rates data are aggregated across operators and reported out to help investors and operators understand the relationship between “asking rate” or “rate card” pricing and the actual rate being paid by residents. Data is provided to NIC affiliate, NIC MAP Vision, the leading provider of comprehensive market data for senior housing and skilled nursing properties.
“This is a NIC and NIC MAP Vision initiative, but a passion-project of mine as well. Providing consistent, accurate data on this industry can transform its access to capital,” said Brad Frasher, EVP of Glennis Solutions, and, earlier in his career, a member of the inaugural class of NIC’s Future Leaders. “Some companies don’t have a lot of resources to provide rent rolls. Now it will be seamless.” He also noted that working with NIC MAP Vision went smoothly: “The process was painless. Our developers had five or six meetings with theirs, matching up to their requirements. It was that simple.”
“NIC Actual Rates Software Partner certification indicates to customers that their software partner has made the investment both to support the industry’s transparency, which improves access to capital, and greatly improves the ease and efficiency of providing this important data, which is now a standard feature on their platforms,” said Brian Jurutka, President & CEO of NIC.
About the National Investment Center for Seniors Housing & Care
The National Investment Center for Seniors Housing & Care (NIC), a 501(c)(3) organization, works to enable access and choice by providing data, analytics, and connections that bring together investors and providers. The organization delivers the most trusted, objective, and timely insights and implications derived from its analytics, which benefit from NIC’s affiliation with NIC MAP Vision, the leading provider of comprehensive market data for senior housing and skilled nursing properties. NIC events, which include the industry’s premiere conferences, provide sector stakeholders with opportunities to convene, network, and drive thought-leadership. For more information, visit www.nic.org.
About Glennis Solutions
Based in Louisville, Kentucky, Glennis Solutions offers the only fully integrated cloud-based software suite specifically designed to serve the unique needs of the senior housing industry. Developed and used across 775+ properties and more than 66,000 apartments spanning 45 U.S. states, Canada and the United Kingdom, each solution was designed to seamlessly manage the complex challenges faced by senior housing operators, residents, administrators and their staff. Our mission is to provide solutions to the industry that promote the health and wellness of seniors and to deliver better outcomes for our customers. We develop solutions in partnership with our customers, their residents, employees and partners.