Transcript Generated by AI 00:00 Mark Parkinson here with Park Place. 00:03 And you may be wondering, what the heck is Park Place? 00:05 Well, let me tell you, I've been involved in the long term care 00:10 sector for over 30 years. 00:12 I think probably the most important time was the 10 years that Stacy and I built, 00:16 owned and operated nursing homes and assisted living buildings. 00:20 And we didn't just own them, we worked in them. 00:22 And that allowed us to see the incredible things that happened in our buildings. 00:27 But if you know me, it's probably because for the last 14 00:30 years, I've been the CEO at the American 00:33 Healthcare Association. 00:35 In fact, I retired just earlier this year. 00:38 And people have asked me, you know, Mark, why did you retire? 00:41 And you know, it's not because I didn't like the job. 00:43 I actually love the job at ACA. 00:45 And it was very tough to leave it. 00:48 I left because I'm getting old. 00:49 OK, we can get a close up here. 00:51 You can see that I am getting old. 00:54 And it was time. 00:55 It was time to pass the reins on to a new leader. 00:58 And we've got a terrific new leader there right now. 01:01 So the question became what do I do on my retirement? 01:04 And there were a couple different possibilities. 01:06 I have friends that play golf everyday. 01:08 But you know what? 01:08 I'm a terrible golfer and it makes no sense to spend the rest of my life doing 01:14 something that I am bad at. 01:16 I could go to the beach, but you know, how long can that last? 01:20 So I decided I want to continue to be active. 01:22 My plan was to follow up a project that I undertook my last year at ACCA, 01:27 David Gifford, Rayan Davis and I, or last year at ACCA, 01:31 or my last year at ACCA wrote a book, a book about some of the very best 01:36 nursing home companies in the country. 01:38 We did a deep clinical dive. 01:40 We identified 5 companies and wrote a chapter about each of them. 01:44 We highlighted 18 other other companies that are doing very good things in the 01:49 sector and we tried to create a template for people to follow who want to succeed 01:53 clinically and financially. 01:56 My thought was in retirement, maybe I just put together a cobble 01:59 together some little teeny website that might feature the book so people could 02:02 find me and if they wanted me to come out and speak, I can continue to do that. 02:06 I didn't have super ambitious plans. 02:10 Well, one day I was explaining to Mark Zemmott 02:13 what my plans were, and Mark thought about it a little bit 02:16 and then told me he had a much bigger idea. 02:19 Now, I'm sure that most of you know who Mark 02:21 is. 02:22 He is, in my opinion, the leading reimbursement expert in the 02:26 country, provides advice to like 4500 buildings 02:29 across the country. 02:30 He's a brilliant guy, but what I didn't know about Mark until 02:34 this project was really how large his operation is. 02:37 He's got like 150 very, very smart people figuring all sorts of 02:42 cool things out. 02:43 And on top of that, he has a massive database. 02:46 Mark's idea was let's take my background in public policy and in leadership, 02:51 combine it with his background in reimbursement, 02:54 and then layer on top of that all of the data capabilities of the Zimmet 02:59 organization and create something that could be very, 03:03 very helpful to providers that is Park Place. 03:06 Now, before I tell you what is on Park Place, 03:08 I think it's important that I tell you what our mission is. 03:12 Our mission is simple. 03:13 Our mission is your success. 03:16 That's it. 03:17 Our mission is your success. 03:19 Whether you're an operator, an administrator and owner, a frontline, 03:24 CNA, somebody that wants to finance, finance, long term care, 03:29 somebody that is a vendor partner, we want you to succeed. 03:34 Now success in my view is, is defined in two different ways. 03:38 First, there is financial success and that's OK. 03:42 We're not against the profit motive. 03:43 I think it actually helped create the United States to be what it is today. 03:47 It's OK to make money and we want to help you do that. 03:50 But the secondly, we define success and in my opinion, way, 03:54 way more important is clinical success. 03:57 We want you to be able to provide great care to the folks that live in your 04:01 buildings or the people that you take care of. 04:04 If you're interested in proving both financially and clinically with great 04:08 quality, this website is for you. 04:11 If all you're interested in is making money and you don't care about the people 04:14 that live in the buildings, honestly I don't care about you and this 04:17 is not the website for you. 04:18 But if you have share our our mission to really provide great care, 04:22 make money at the same time and maybe even have some fun, 04:25 hopefully Park Place will be really good. 04:27 So what is on it? 04:28 Well, probably the best way for you to figure 04:31 that out is just to spend a little bit of time navigating the website. 04:34 There are 6 different sections on the site, 04:37 again all of them designed to provide you information that will help you succeed. 04:42 At least once a week I'll be giving a Parkview segment where I'll give you my 04:46 thoughts on what's happening in the sector. 04:49 Sometimes it'll be a reaction to something that's happened on Capitol Hill. 04:52 Other times it might just be some future trend. 04:55 Other times it might be some leadership lesson that I've learned. 04:58 We'll have a podcast on the website called Let's Talk, 05:01 where once a month will feature a superstar who has succeeded in the sector 05:06 and hopefully will provide us tips on how we can succeed. 05:09 And I'm pleased to tell you that our very first guest on Let's Talk is Norman 05:13 Rokeish, which is a great example of the kind of 05:15 guest that we hope to have. 05:17 We have an area called Sniff Digest where once a week JJ Rabbinowich will have his 05:22 weekly digest that summarizes everything that's happened in the sector and that 05:26 you need to know for the week moving forward. 05:29 And we'll have a who's who of contributors to that site, 05:32 people that are experts in various parts of long term care that will be providing 05:36 information for all of us. 05:37 We have an innovation sections, which has super cool ideas that you need 05:42 to know about to improve quality and lower cost. 05:45 And then we have two interactive section sections on the website, 05:48 one where you can learn a lot about what's going on in every state, 05:51 and another where you can learn a lot about what's going on in your specific 05:55 buildings. 05:56 All of this is designed to help you succeed. 06:00 Now, big question is how do we pay for all 06:02 this? 06:03 Believe it or not, just getting to this point has cost 06:06 hundreds of thousands of dollars, and it'll cost 10s of thousands of 06:09 dollars every month just to keep this going. 06:12 We thought about a subscription service model, but we rejected it. 06:15 Again, our mission is your success. 06:17 We want as many people as possible visiting the website. 06:20 So we want it to be free. 06:23 In order for it to be free, we had to go out and get some sponsors, 06:26 some vendor partners that would cover the cost of this and make the whole thing 06:30 happen. 06:31 And once again, we have a who's who of people in the 06:34 sector that are our vendor partners. 06:36 Omnicare ACVS company is our launch sponsor. 06:39 Capital Funding Group, the leading HUD lender in the spaces is, 06:43 is sponsoring the Parkview sections. 06:46 First quality of terrific provider of incontinence products will be a 06:50 sponsoring. 06:50 Let's talk and our first two innovations that you need to know about, our CRC, 06:55 the Prosiatry Company and Veris, which utilizes artificial intelligence to 07:00 optimize staffing. 07:01 When you Add all of this together, we hope to create a website for you that 07:06 you can come to feel comfortable and safe and learn things that hopefully will help 07:12 you every single day with your work. 07:16 Oh my God, it looks like we have an intruder on the 07:19 site. 07:20 Look what the cat drug in it's none other. 07:24 It's none other than Mark Zemit. 07:26 Nice to see. 07:26 Hey, Mark, how are you? 07:27 So, so glad you're here and excited about 07:30 this product project. 07:32 What have you gotten me into here? 07:34 I I'm not sure yet. 07:35 You know, I will tell you when we first sat down 07:38 and talked, I was thrilled it it the last few years 07:42 through COVID through watching you through COVID inspiring. 07:47 You know, I realized that that, you know, I'm getting out of my career and I and I 07:51 just don't want to leave this industry in more shape than I found it, you know, 07:54 and and at the end of the day, I'm the peanut gallery. 07:57 I get up on stage once a year and then at our conference and I'd spew out a lot of 08:01 rhetoric and, you know, the problems, what's wrong with the industry? 08:05 What's wrong with the sniff economy? 08:06 And, you know, people would come up to me at the end and 08:09 say, you know, what are you doing about it? 08:12 I said, I'm a consultant. 08:12 I'm doing nothing about it, you know, So it's important to me on, on, on just a, 08:18 a human level at this point to make this industry better. 08:22 We just seem too much Prader's having too hard a time right now to not try to give 08:30 back. 08:31 Well, hopefully we can make it better. 08:33 And I think one of the things that you and I both have is sort of a cautious 08:37 optimism about the future. 08:39 I mean, I kind of feel like things are going in a 08:41 good direction. 08:42 If people really hunker down on their business side and on their clinical side, 08:46 this is a pretty good time to be in the space. 08:49 But we could screw it up if we if we do the wrong thing. 08:52 What what, what's your outlook? 08:54 You know, everything is cyclical. 08:55 I was told the story early on in my career, 08:57 sitting down with a client who is still in the business. 09:00 He says, Mark, he goes, I've been in this business 32 years and I 09:04 can tell you this is January. 09:05 This is going to be the worst year after we've ever had. 09:08 But I've said that every year for 32 years, he says. 09:11 And it's, it is cyclical, but I happen to think the next two years 09:15 for, for technical reasons on on the way rates 09:17 are constructed and funded. 09:20 I think that's, it's, we're on solid footing for the next two 09:22 years. 09:23 My, my issue is really the, the, the, the problem with the industry from a 09:27 Sniffenomics perspective is that a skilled nursing facility can only do as 09:32 well as its market will allow. 09:34 So it is uneven. 09:35 And that's what I, you know, from a policy perspective, 09:38 if we have any influence at all, I hope to influence, you know, 09:41 I want to get better policy. 09:43 There's, there's some states where it's really 09:44 good to operate and there's some states where it's terrible. 09:47 Well, it's, it's, it's everything's at the local level. 09:49 There are advantages certain states than others, 09:52 but it's not like you could just enter those states, you know, at a dime. 09:57 My issue is with facilities that are a mile away in the same market that have 10:02 rates that are up to $100 a day different because of wage indexes or local state 10:07 Medicaid rules or whatever. 10:09 Or in a state like New Jersey, you know, we're on the border of, you know, 10:12 Monmouth, Middlesex County. 10:14 You know, I live in Essex County. 10:16 I order from my favorite deli in, in, in Passaic County, which is a mile away. 10:20 And Passaic County nursing homes get paid $120.00 more a day in Essex County. 10:25 So I have to tip my, my delivery driver more, you know, 10:27 because he's delivering from Passaic County higher wage index. 10:31 Well, hopefully we're going to be able to lift 10:33 everybody up and market. 10:33 I, I'm glad you came up with this idea there. 10:36 There are times in the last six months when we've been putting this together 10:40 like, why in the hell am I doing this? 10:41 But I'm thrilled to be doing it. 10:43 I, I, you, you forced me to continue to kind of be 10:46 involved and, and I, I, I appreciate that very much. 10:50 Well, the one thing we have in common on on a 10:51 visceral level, and I think the, the most important thing is that I can't 10:55 freaking stand golf either. 10:56 You know, I think it is the biggest waste of time. 10:58 So, you know, this is it for me. 11:00 So now this is committed. 11:02 All right, So that's what Park Place is all about. 11:04 We appreciate you watching and look forward to to grow on this side with you. 11:09 Oh my God, if you're still watching this, this means that you watch the end of a 11:13 very long video on Park Place. 11:16 I'm not sure what that means. 11:17 It says something about you or maybe there was just nothing else to watch 11:21 today. 11:21 Or maybe your priorities are a little bit off. 11:23 But whatever it is, we really appreciate your support. 11:26 And if you want to continue to follow us, follow us on LinkedIn, 11:30 on our various social media sites and, you know, 11:33 try to find something else to do.
