More needs to be done to support people in their retirement. This presentation looks at many aspects of assisted living

1. RETIREMENT
AND ASSISTED
LIVING
• Paul Young CPA CGA
• October 19, 2020

2. PAUL YOUNG - BIO
• CPA, CGA
• Academia (PF1, FA4 and MS2)
• SME – Risk Management
• SME – Close, Consolidate and Reporting
• SME – Public Policy
• SME – Emerging Technology
• SME – Financial Solutions
• SME – Business Process Change
• SME – Supply Chain Management
Contact information:
Paul_Young_CGA@Hotmail.com

3. AGENDA
• Retirement home break down
• Homecare / Canada
• Mortality rate / Canada
• Audit Reports – Retirement Homes – Diet
• Audit Reports – Patient Care
• Audit Reports – Quality
• OECD
• Revera
• Seniors / Poverty
• Analytics
• Medical Equipment and Supplies
• What’s needs to be done
• Training/Professional Development Courses
Assisted and Long-term Care
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4. RETIREMENT HOME BREAKDOWN
Source - https://www.bcmj.org/news/statistics-canada-almost-5-seniors-long-term-care or
https://sba.ubc.ca/blog/industry-overview-home-care-providers-canada
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5. HOMECARE IN CANADA
Source - https://sba.ubc.ca/blog/industry-overview-home-care-providers-canada
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6. MORTALITY RATES / CANADA
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7. AUDITOR GENERAL – ONTARIO – NURSING
HOMES - DIET
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8. AUDITOR-GENERAL – ONTARIO –
PATIENT TREATMENT
Source - https://ipolitics.ca/2019/12/04/auditor-generals-report-paints-grim-
portrait-of-ontario-healthcare-system/
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9. OECD / RETIREMENT LIVING
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10. QUALITY / NURSING HOMES - ONTARIO
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• Government implemented more quality
inspection at homes – so why are there still
issues with nursing home operations?
• Bruce Lea had issues that if there was
proper inspection would have been caught
sooner - https://london.ctvnews.ca/bruce-
county-fires-three-top-administrators-of-
long-term-care-home-issues-1.4592524
• Staffing and other issues have been a
concerns at long-term care facilities -
https://www.cbc.ca/news/canada/london/we
ttlaufer-inquiry-care-home-inspectors-
1.4777296
• Lack of inspection and oversight -
https://globalnews.ca/news/5202136/advoc
ates-cry-foul-after-ontario-officials-alter-
nursing-home-inspection-report-without-
explanation/
• LHIN has failed over the years to protect
seniors -
https://www.carp.ca/2015/12/14/131025/
• More oversight of nursing homes -
https://www.ncbi.nlm.nih.gov/pmc/articles/P

11. REVERA
• Lawsuits - https://www.ctvnews.ca/w5/groundbreaking-legal-action-alleges-nursing-home-
chains-put-profit-ahead-of-care-1.4155852
• Asset sale - https://business.financialpost.com/real-estate/property-post/revera-sells-big-stake-
in-canadian-senior-housing-to-health-care-reit-for-1-billion
• Pension Fund owns the company - https://www.thestar.com/business/2020/05/26/public-service-
union-calls-on-pension-fund-to-give-up-ownership-of-private-nursing-home-chain.html
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12. SENIORS IN POVERTY
• “The median after-tax income of senior families (where the highest income earner was 65 years of age and
older) totaled $61,200 in 2017, up $2,500 from 2016. The median after-tax income of senior families has
trended up steadily since 2012, reflecting increases from wages and salaries income and private retirement
income. ”Source - https://www150.statcan.gc.ca/n1/daily-quotidien/190226/dq190226b-eng.htm
• “Senior families, where the highest income earner was 65 years of age or older, had a median after-tax income
of $57,500 in 2015, up 5.7% from 2012. After-tax income of these families has been climbing steadily since at
least the mid-1970s. In 1976, senior families received $33,100 in after-tax income. In 2015, unattached
individuals 65 years of age or older had a median after-tax income of $26,300, while their non-senior
counterparts reported $29,400. Both groups have seen little change in their median after-tax income
since 2012. ”Source – Stats Canada - https://www150.statcan.gc.ca/n1/daily-quotidien/170526/dq170526a-
eng.pdf or https://www150.statcan.gc.ca/n1/daily-quotidien/170526/dq170526a-eng.htm
• “Internal government documents say that many of the 57,000 seniors the Liberals say they have helped lift out
of poverty only moved above the poverty line when the government changed the measure. Last August, the
federal government adopted, for the first time, an official poverty line based on the income needed to afford a
basket of household necessities. ”Source - https://www.crestonvalleyadvance.ca/news/feds-lowered-poverty-
line-reducing-the-number-of-seniors-in-need-documents/
• Canada had 12.1% of the population in poverty in 2017 - Source – OECD -
https://www.statista.com/statistics/233910/poverty-rates-in-oecd-countries/ . Canada has done a decent job
with seniors. Canada was ranked very high with the G20 countries in terms of pension income -
https://www.forbes.com/sites/niallmccarthy/2015/12/02/which-countries-have-the-highest-levels-of-poverty-for-
pensioners-infographic/#2ee67be9216f
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13. ANALYTICS / ASSISTED LIVING
Source -
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• COVID-19 has increased pressure on the healthcare industry to identify data gaps, ensure
access to critical information, and manage uncertainty through scenario planning. Source -
https://www.canhealth.com/2020/09/30/covid-19-adopting-analytics-can-improve-patient-care-
and-resource-management/
• Managing clinical data - https://thejournalofmhealth.com/cegedim-to-collaborate-with-ibm-
watson-health-to-provide-access-to-real-world-clinical-data/
• AI and Medical Devices - https://www.ibm.com/blogs/internet-of-things/iot-ai-and-iot-help-an-
aging-population/ or https://www.medicalstartups.org/top/ai/

14. MEDICAL EQUIPMENT AND SUPPLIES
• Supporting local manufacturing of medical equipment and supplies -
https://ontarioconstructionnews.com/ontario-made-program-launched-to-support-canadian-
manufacturers-and-exporters-launch-of-2/
• Medical equipment and supplies is projected to grow at 6.2% clip -
https://www.ibisworld.com/canada/market-research-reports/medical-device-manufacturing-industry/
• Certification of medical equipment - https://www.newswire.ca/news-releases/health-canada-certifies-
winnipeg-ventilator-2-0-for-immediate-distribution-to-support-the-needs-of-covid-19-patients-
842116003.html
• Revisiting the manufacturing of medical equipment and supplies -
https://www150.statcan.gc.ca/n1/pub/45-28-0001/2020001/article/00006-eng.htm
• Better management of strategic supplies of medical equipment, devices, and supplies -
https://supplychaingamechanger.com/strategic-national-stockpiles-and-sourcing-for-the-national-
interest/
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15. WHAT’S NEXT
• LHIN need to set up better monitoring of long-term care facilities. This can be done through mandatory reporting to LHINs
including the use of analytics and data sciences
• Reforming healthcare - https://www.slideshare.net/paulyoungcga/how-does-the-world-reform-healthcare
• Notification tools
• Watson Assistant - https://www.youtube.com/watch?v=hitUOFNne14&t=43s
• Better use of data and AI as part of managing outbreaks
• https://www.ibm.com/blogs/watson-health/human-centered-contact-tracing/ or https://www.ibm.com/cloud/blog/announcements/ibm-and-
servicenow
• All long-term care facilities should have a performance audit done of their facilities as part of their funding -
https://www.slideshare.net/paulyoungcga/the-importance-of-value-for-money-and-perfomance-based-audits
• Nursing homes/Assisted living need to have a crisis management/risk management plan as part of managing any outbreak at
their facilities. These reports should be disclosed to various ministry of health across Canada
• All companies whether they are for profit or non-profit need to go through rigorous audits -
https://www.dementiacarecentral.com/memory-care/non-profit-vs-for-profit
• Staffing and wages – all homes need to review their staffing including wages, training, hours, benefits, etc.
• All homes need to have a crisis management, i.e. outbreaks
• Crisis Management - https://www.slideshare.net/paulyoungcga/how-to-implement-crisis-management-using-data-and-ai
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16. TRAINING AND DEVELOPMENT
• If you like to learn more
about trade and/or other
subjects as part of your
professional learning and
development then feel
free to review my material
on
https://www.udemy.com/
(search Paul Young CPA
CGA)
• These subjects address
how to fixed issues with
housing and/or systemic
issues related to economy
including government
policies