Are my costs on par with the competition or is there potential for savings?

If the number of competitors increases, prices fall: this also applies to the nursing market, as the current market study by the nursing home consultancy TERRANUS shows. To find out whether your costs are on par with the competition or whether there is still potential for savings, a detailed analysis of the market situation in the respective environment is required. The database-based tool KPI Rating by TERRANUS compares the Key Performance Indicators (KPI) of your business with comprehensive current industry benchmarks and creates an objective and differentiated rating. The real highlight of the analysis tool: the rating is based on a predefined comparison group of similar operations. Deviations from comparable nursing homes – upwards or downwards – are visible at a glance. Regional differences, funding bodies and forms of operation (full inpatient facility and/or assisted living, lease versus ownership model) are also taken into account. Subjecting one’s own catchment area to a precise potential analysis and knowing what figures the competition is working with is an advantage that should not be underestimated, also in view of changing political requirements. Those who also regularly put their own operating concept, processes, profitability and controlling to the test may be able to reduce their costs in various areas.