What is a Fixed-Cost Assisted Living Model?

When it comes to selecting an assisted living facility, the financial aspects can be every bit as crucial as the quality of care. Kenwood Care’s approach using a fixed-cost assisted living model highlights an innovative solution to addressing this challenge.

What is a Fixed-Cost Assisted Living Model?

A fixed-cost assisted living model is an innovative pricing strategy that ensures the rate a senior pays upon moving into a residence – like one of Kenwood Care’s four convenient Howard County homes – remains unchanged for the entirety of their stay, with no entrance fees, additional fees, or rate increases. Ever.

This fixed-cost model is a significant differentiator between Kenwood Care and other assisted living facilities, where costs can fluctuate based on care needs or incur unexpected fees. With costs for assisted living ranging broadly and often increasing with the level of care, Kenwood Care’s transparent, predictable pricing provides families and their aging relatives peace of mind and financial stability.

Why a Fixed-Cost Model is Needed

Price Stability

The cornerstone of the fixed-cost model is the assurance of price stability. Assisted living facilities like Kenwood Care understand that many seniors are on a fixed income and need services that cater to their budgetary constraints.

Once a senior moves into one of Kenwood Care’s homes, the rate set at entry never changes. This consistency in costs – regardless of changing care needs over time – provides a secure financial footing for families.

No Hidden Fees

A common concern in the assisted living industry is the prevalence of hidden fees – be it entrance fees, additional service charges, or unexpected rate hikes. Kenwood Care eliminates these worries by offering a straightforward and inclusive pricing structure.

Clear Financial Planning

With a predictable cost structure, families can better plan for the financial aspects of assisted living care. This clarity in expenses ensures that care decisions are made with a comprehensive understanding of long-term financial commitments.

Key Benefits of the Fixed-Cost Model

• Simplicity and Transparency: A fixed-cost assisted living model simplifies the financial aspects of much-needed care by providing a transparent pricing scheme from the outset. Families can easily budget for a loved one’s care without concern for unforeseen expenses, making the financial planning process more manageable.
• Peace of Mind: Knowing that the costs upfront will never increase provides families with peace of mind during what is often an incredibly emotional transition. This assurance allows them to focus on the well-being of their loved ones rather than worrying about future financial burdens.
• A Focus on Care: With financial uncertainties out of the way, both residents and their families can concentrate on what truly matters – the quality of care and life in the facility. The fixed-cost model not only addresses financial concerns but also enhances the overall care experience by ensuring that attention remains on the resident’s well-being.

So, what is a fixed-cost assisted living model? Kenwood Care’s innovative approach to pricing presents a compelling alternative to the traditional, variable-cost models in the industry. This approach not only redefines the economic dynamics of assisted living but also reaffirms our focus on delivering quality care, comfort, and contentment to our residents.