Enable your staff to remain focused on resident care and topline growth while drive sustainable cost reductions on your behalf.
Keep your elder care facility operations running smoothly with no changes to service levels, vendors, or operations.
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29% Average Savings in the Spend Categories SIB Oversees for Senior Living Communities
Demand for senior living communities in the United States continues to grow and operators are busy at work addressing a critical shortage of qualified labor. Staffing often monopolizes the majority of time for most executives directors–leaving little bandwidth to spare for addressing other operational issues and costs.
SIB reduces cost for essential business services in hard-to-manage spend areas like medical waste, linen and laundry, bank fees, payroll processing and telecom. With an average of 29% savings achieved across multiple spend categories, we offer a no-risk solution to enhance your profitability. Embrace the opportunity to optimize your spending, ensuring your senior living community remains a nurturing home for residents while achieving sustainable growth.
Enjoy the benefits of reduced operational costs with no upfront investment. Our performance-based model means we succeed only when you achieve measurable savings.
Save money and reduce complexity without changing vendors, level of personal care provided, operational processes, or GPO rates and rebates. Our self-funded services means we only share in the savings we unlock.
Take advantage of our 500,000+ pricing benchmarks to promote more successful vendor negotiations and secure best-in-class rates, terms, and conditions.
Gain insights that inform better, faster business decision-making and more confidently optimize all aspects of your business services.
Our Senior Living Clients
Our Process
- Review Vendor Spend
We look at 12 months of expenses across all categories from your general ledger to give you the big picture view of your spend and identify high-potential savings areas. - Define the Scope and Roadmap
Decide which expenses you want to tackle first. We meet with internal stakeholders in each expense category to gather additional details and data and obtain authorization letters permitting us to work directly with your vendors. - Analyze, Negotiate, and Present the Opportunity
We thoroughly audit your spend, invoices, and contract terms and conditions, uncovering every area for savings and optimization with existing vendors and services. Upon request, we can also look at sourcing alternate vendors. You review the full scope of opportunities and decide which to approve and implement. - Implement Savings Strategies
We put new contracts and rates into effect and provide your internal teams with documentation of all new pricing agreements, terms, and conditions. When you save, we share a portion of the savings, so there are no upfront costs and no risks to you. - Validate Savings and Ensure Compliance
We partner with you throughout the scope of your new contracts and service agreements to keep vendors in compliance, validate savings, and ensure you are receiving all negotiated services. We proactively look for new or additional savings opportunities to ensure best-in-market rates for the long term.
Spend Areas We Help
Medical Supplies
Uncover billing errors, optimize service levels, and ensure contract compliance, reducing spend by an average of 11% across all your medical supplies and facilities.
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Waste + Recycling
Save an average of 31% on solid waste, medical waste, compost, and recycling costs while improving ESG compliance through better program design, pricing, and management.
Waste + Recycling
Treasury Fees
Secure best-in-class pricing to reduce bank fees and merchant services by 27-34% while reducing risk and preserving existing banking relationships.
Treasury Fees + Merchant Services
Telecom
Reduce telecom expenses by an average of 28% with a rightsized network, competitive market rates and terms, and a proactive approach to eliminating common billing errors.
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Linen, Laundry, and Uniforms
Secure and validate the best prices and terms to improve your current service levels while reducing your linen, laundry, and uniform costs by an average of 26%.
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Payroll Processing
Optimize your payroll processing solution to simplify and better meet your company’s human capital management needs while saving an average of 24%.
Learn MoreSee What Our Clients Say
“…SIB achieved major savings across the board without diminishing our vendor services or relationships… Their findings were clear and detailed and accurate…I would gladly recommend SIB to other large healthcare providers that could use help with an outside audit.”
“SIB has been a valuable partner in helping us evaluate our fixed cost landscape and find ways to reduce expenses without sacrificing the quality of our services and vendor relationships. The majority of savings resulted from simple rate reductions that SIB’s consultants negotiated with our service providers for landscaping, laundry service, elevator maintenance, pest control, wireless communications, and waste removal.”
“We engaged SIB to review a number of recurring spend areas including telecom, waste hauling, and maintenance contracts. We were pleased with the results and the minimal time it took us get gather what they needed to review our vendor rates and contracts. The best part was that SIB was able to reduce our property tax bill by $40,000 annually for one location.”
Resources and Case Studies
SIB Helps Bickford Senior Living Tackle Rising Medical Costs in Record Time
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Take Control of Your Spend Today
Ready to reduce your costs across your top spend categories? Get started with a no risk, comprehensive evaluation of your vendor transaction history and put our market intelligence and industry expertise to work to spend smarter and improve your bottom line.
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