Deliver on the promises of the past and create smart solutions for the future.
Navigate today’s most pressing health industry challenges with a leading global expert by your side.
Meet growing needs for innovative insurance solutions while increasing operational health and improving compliance.
Manage complex risks using data-driven insights, advanced approaches, and deep industry experience.
This is a place where your ideas and insights make an impact. Where an independent, entrepreneurial spirit is an advantage. And where diversity of thought and experience makes us who we are.
Data-driven insight. Deep expertise. Transformative innovation. Since 1947, Milliman has delivered intelligent solutions to improve health and financial security.
Milliman offers continuing care retirement communities a full range of analytical and actuarial services so they can better manage a variety of inherent risks and ensure profitability.
Continuing care retirement communities (CCRCs) face a unique set of challenges and issues, due to their fee structure and the way in which they provide healthcare. CCRCs must maintain high numbers of occupied units and beds, monitor competitors in the market, and actively recruit new residents. They must also be prepared for economic downturns, times of higher-than-expected health care utilisation, and shortages of nursing and healthcare professionals.
Milliman helps CCRCs address all the risk management issues that arise from the long-term nature of their contracts, with in-depth actuarial approaches in the analysis of their income requirements and financial condition. We recognize each CCRC as unique, given the broad range of residency agreements among communities that stipulate financial responsibilities for both providers and residents.
To effectively serve the uniqueness of each CCRC, Milliman performs a detailed analysis based on the community’s configuration. Our three key areas of services include the following:
Historical resident data analysis. We first conduct an analysis on five years' worth of historical data to give a thorough picture of a CCRC’s unique characteristics and patterns of utilisation at each care level. We gather data on resident population across the full spectrum of care—from independent living to assisted living to skilled nursing—including variables such as occupancy rates, transfer rates, and mortality rates. We also look at how the growing trend of the provision of home healthcare to independent living residents affects utilisation of other care levels.
Population projections. To perform population projections, we use historical resident data from both the client community and other communities in our database to set assumptions for rates of mortality and transfer using the same key parameters. Projections are performed as of a starting (valuation) date on both the total population and by level of care. Key results include estimates of independent living turnover and future utilisation of assisted living and nursing care beds on both a closed group and open group basis.
Actuarial and financial projections. This includes performing other financial analyses based on the historical data and population projections, including the following:
Ask the tough questions. We’re ready for them.