Data Driven Growth

Yardi client 12 Oaks Senior Living

By Nik Edlinger on Nov 8, 2019 in People

When you work in an industry where margins are tight, having the data to see exactly how your business is performing – and what steps you need to take – is vital. This is especially true for senior living, which currently faces one of its lowest occupancy rates in years.

Greg Puklicz of 12 Oaks Senior Living knows just how essential data can be. As the company’s CFO, he’s always measuring performance across his communities and finding ways to make that data practical for his team.

“I want the accounting and our reporting to be nimble and useful. If you give someone a report that is 8-10 pages long, they may not glean what’s relevant from that, which is why I identify the key metrics,” Greg said in a recent interview with Senior Housing News. “We can turn our attention to those things and chip away at the issues as soon as they arise.”

Based in Dallas, 12 Oaks Senior Living provides third-party management and operation services for 16 senior living communities throughout Oklahoma and Texas. A Yardi client, the family-run organization has found a lot of success in lease-up and turnaround properties, and they’re currently looking to expand their portfolio to 25 communities over the next two years.

As part of their journey to scale, 12 Oaks relies on Yardi Voyager Senior Housing for property management and accounting. The platform provides real-time performance analytics, pulling data from across the Yardi Senior Living Suite to shed light on areas across their business.

Check out this excerpt from Greg’s interview with Senior Housing News to learn more about how 12 Oaks uses data to ensure they’re operating as effectively as possible:

Would you say it’s true that senior living has gotten more operationally and financially complex over the last few years, and if so, how has that placed new demands on you as a CFO?

We’re living in a data-driven economy. The need for useful data is growing. Data for the sake of data doesn’t provide any benefit. We need to have targeted data that can that can help [operations].

We’ve set up some dashboard reporting for all of our properties. We data farm all of our operational KPIs, and compare those to like properties. For example, we have three standalone memory care properties with about 60 units each. That becomes a database for that particular type of operation – we can look at performance, where the numbers are and where we think they should be.

The point of all that is to create that data farm and KPIs, so that the operations people can focus on the care.

What software platform does 12 Oaks use?

We’re using Yardi as our base accounting package. Additionally, I’ve customized some KPI reports over the course of the past year. This allows us to have a one-page report for each property measuring actual budget to census, month- and year-to-date actual budget performances, labor variances and the actual KPIs on the particular property.

I’ll then have monthly calls with the executive director and RPM [regional property manager] where we’ll review the performance indicators, give them guidance and answer any questions.

Read the entire interview on Senior Housing News.