The Future Leaders Awards program is brought to you in partnership with PointClickCare. The program is designed to recognize up-and-coming industry members who are shaping the next decade of senior housing, skilled nursing, home health and hospice care. To see this year’s future leaders, visit https://futureleaders.agingmedia.com/.
Christopher Clare, managing director at Greystone, has been named a 2022 Future Leader by Skilled Nursing News.
To become a Future Leader, an individual is nominated by their peers. The candidate must be a high-performing employee who is 40-years-old or younger, a passionate worker who knows how to put vision into action and an advocate for seniors.
Clare spoke with Skilled Nursing News about the importance of investing in providers that put the residents first, the need for the industry to rebuild a pipeline of talent and why the sector is ultimately essential.
SNN: What drew you to this industry?
Christopher: I started in the industry as an underwriting analyst after my MBA. I was immediately drawn to the blend of art and science that is required to appropriately assess each deal. However, I was hooked once I toured my first property. It made an indelible impression on me. Behind the story and data are real people that deserve exceptional care. This realization changed how I viewed my role in the industry. In a way, lenders are responsible for allocating capital to the operators which will provide the best possible care to the residents. One of the most exciting aspects of my job is providing financing to the next great operator and watching them grow while their residents thrive.
SNN: What’s your biggest lesson learned since starting to work in this industry?
Invest in providers that put the residents first. Operators who are singularly focused on profitability come and go. As our state and federal reimbursement systems become increasingly tied to clinical outcomes, the operators who can deliver great care will win the competition to capital, talent and residents.
SNN: If you could change one thing with an eye toward the future of skilled nursing, what would it be?
We need to build a pipeline of talent. We need the younger members of our workforce to see how rewarding a career in skilled nursing can be. Tactically speaking, I think this requires direct support from the government. Increased state and federal funding is crucial to build training programs and allow facilities to pay a competitive wage.
SNN: What do you foresee as being different about the skilled nursing industry looking ahead to 2023?
Well, we are definitely in a higher interest rate environment for the foreseeable future, so I think there will be even more interest in financing products such as HUD-insured loans. This is an area where Greystone excels, as the #1 lender for HUD-insured healthcare loans. Relative to bank financing, HUD offers higher leverage, non-recourse and longer term fixed rate financing. Most importantly, however, our partners at HUD have proven to be absolutely committed to skilled nursing. We know that we can rely on them to continue lending throughout what could be a difficult macroeconomic environment.
SNN: In a word, how would you describe the future of skilled nursing?
Essential. This housing is so critical to the growing aging demographic groups in the US, and we need to provide owners and investors the tools and resources to be successful.
SNN: What quality must all Future Leaders possess?
Dedication. All kinds of stakeholders from investors, vendors, etc are attracted to the SNF space for obvious reasons, but then run for the exit at the first sign of trouble. The common thread among the future leaders of 2022 is dedication. We are committed to this industry for the long term and will be there to support operators and their residents for years to come.
