Massive turnover in staff who are in general poorly paid and poorly treated. Can't blame them as they leave, in some places 300% turnover per year.
They are cheap cheap cheap. I guess that's good for shareholders but long term they will be viewed as the Yugo of the long term care industry.
Cramer has suckered many investors into this stock and they will regret it. Only fools venture here but don't take my word for it.
Ask them about staff AND resident turnover. You will be surprised.
I shopped all over Orange County, CA for an appropriate Alzheimer facility. Sunrise stood head and shoulders above anything else. Beautiful facilities and generally helpful staff. Sure, you don't always get the full attention you think you should, but if I were shopping for myself - I'd put myself in Sunrise for sure. Bought the stock at $32 based on my impressions . . . so at least something good has come from mom's disease.
To me, this industry and this phase of life is a tough environment for all parties (workers & patients). I think Sunrise tries to make the best of the situation. I work for a utility (PSE&G) in NJ and volunteer at local hospital 2 nights a week.
The hospitals don�t want these patients; Sunrise is clearly the best alternative of a long list of alternatives. I certainly wouldn�t want to be in a VA Hospital or some �Mom & Pop� Nursing home. I�m 33 yrs. old with (2) two daughters and I don�t think their future husbands are going to take me in when I am wetting myself and forgetting my name.
GETTING OLD STINKS, but I think Sunrise is the best place to go, and a good place to invest some $$ in this industry.
Forget about employee turnover, they will be back because the �grass is not greener� at other facilities in this line of work.
My 93-year-old mother-in-law lived in a SRZ facility in Atlanta for nearly a year. In general we were satisfied with the building and quality of service. Moving into this facility from her apartment was necessitated by a minor stroke, although she only needs minimal help with daily living, she could no longer live alone. Being in daily contact with others (staff and residents) made a surprisingly big difference in her outlook on life.
SRZ closed this particular facility recently (perhaps because the owner did not want to spend the money on necessary upgrades) - she is now in an Atria building - they made her an offer she couldn't refuse.
Quality Improvement Processes
We coordinate quality assurance programs at each of our communities through our corporate headquarters staff and through our regional offices. Our commitment to quality assurance is designed to achieve a high degree of resident and family member satisfaction with the care and services provided by us. In addition to ongoing training and performance reviews of care managers and other employees, our quality control measures include:
Family and Resident Feedback. We survey residents and family members on a regular basis to monitor the quality of services provided to residents. Annual written surveys are used to appraise and monitor the level of satisfaction of residents and their families. A toll-free telephone line also is maintained which may be used at any time by a resident�s family members to convey comments.
Regular Community Inspections. Community inspections are conducted by regional operations staff on a regular basis. These inspections cover: the appearance of the exterior and grounds; the appearance and cleanliness of the interior; the professionalism and friendliness of staff; resident care plans; the quality of activities and the dining program; observance of residents in their daily living activities; and compliance with government regulations. In addition, a headquarters-based team visits each community annually to review these same areas .
Third-Party Reviews. To further evaluate customer service, we engage an independent service evaluation company to �mystery shop� our communities. These professionals assess our performance from the perspective of a customer, without the inherent biases of a company employee. Each community is �shopped� at least three times per year in person, as well as one or more times per month by telephone. To evaluate medication management, third-party pharmacists conduct periodic reviews of on-site handling and storage of medications, record keeping and coordination of medications.