Solution
Dr Insiyah R. answered on
Mar 20 2023
Analysis
Wade White and Peg Thomas, a husband and wife team, developed Cottage Senior Living (CSL), often known as "the Cottages," a senior living facility. Wade and Peg worked on developing the first assisted living service model during the 1980s. In the 1990s, they strove to buy and restore failing continuing care retirement communities (CCRCs) all throughout their region. The Regency Village in Huntsville, Alabama, was the first property they agreed to administer, and this place quickly became CSL's corporate headquarters. Over the remainder of the decade, CSL built three CCRCs in Alabama, one in Mississippi, and one in Tennessee, in addition to acquiring four more facilities in Alabama. Cliff White, Wade and Peg's oldest son, first returned to the Cottages in 2009 after earning his MBA, and in 2011, he took over as president of the business.
CCRCs were a novel idea in the long-term care sector when CSL started developing as a business. Unlike ordinary nursing homes for the elderly, CCRCs offered residents on-site nursing care and a range of care levels, from independent living to healthcare institutions, all on the same campus. Instead of shifting older adults from facility to facility when ageing-related deterioration occu
ed, CCRCs were able to be deemed the "last station" of an older adult's life because of the evolution of services and care alternatives available. CSL's CCRCs provided Assisted Living, Dementia Care, and Active Adult choices in group facilities that accommodated three to sixteen persons or communal facilities that held seventeen plus. CCRCs were a novel idea in the long-term care sector when CSL started developing as a business. Unlike ordinary nursing homes for the elderly, CCRCs offered residents on-site nursing care and a range of care levels, from independent living to healthcare institutions, all on the same campus. Instead of shifting older adults from facility to facility when ageing-related deterioration occu
ed, CCRCs were able to be deemed the "last station" of an older adult's life because of the evolution of services and care alternatives available....