This letter was shared with Cedar Village residents, family members, staff, donors and volunteers on Thursday, August 24, 2017, as an update on our strategic planning process.
The nursing care industry nationwide is struggling with changes to healthcare, and a wave of consolidation is underway. Many organizations are seeking to lower costs through economies of scale. As part of our strategic planning process, we are investigating a variety of options to sustain our mission.
A task force called “Cedar Village 2.0” that includes representatives from The Jewish Foundation of Cincinnati, the Jewish Federation of Cincinnati and Jewish Family Service, along with Cedar Village staff and board members is actively pursuing innovative ways to continue to serve seniors in our community. We are working with leading industry experts, exploring options ranging from reconfiguring this campus to reducing overhead in ways that don’t impact service and care. We also will be engaging a sales broker to learn what our campus is worth to potential buyers. Understanding the value of this property is an important piece of information in our decision-making process. It does not mean that we have decided to sell.
If we did take that step, any sale would be contingent upon many factors, including a potential buyer’s agreement to certain safeguards regarding our residents. We would not entertain any offers that did not include a guarantee that our current residents will be allowed to stay in their homes at Cedar Village. In addition to including that promise in legal sales documents, it’s likely that retaining our current residents and the talented staff serving them would be very important to any potential buyers. Our employees and our strong apartment and nursing home census are part of what would make this an attractive campus.
For employees and residents, it’s business as usual. Our volunteer and fundraising programs remain in place and are more important than ever. Care delivery will not be impacted. New residents are still welcome. And we will continue to focus on other parts of our strategic plan that, in addition to financial sustainability, sets priorities for delivering quality care, customer satisfaction and a strong workforce.
It will be several months before we even begin to evaluate any offers or have enough information to make decisions about the other plans under consideration. I will continue to update you as progress unfolds. We can probably expect that this will be a lengthy process.
In the interim, residents and family members are invited to join me for a town hall meeting to learn more about our strategic planning process in the CRCC on Friday, August 25 from 2 p.m. – 3 p.m., or Sunday, August 27, from 10:00 a.m. – 11:00 a.m. Separate meetings are planned for staff members. I will be available to answer questions and discuss what we know now. I also can be reached at (513) 754-3100 and firstname.lastname@example.org, and will do my best to respond as quickly as possible to phone calls and email messages and provide regular updates online. We have created a resource to post the latest details at: www.cedarvillage.org/strategicplan.
President and CEO