The financial model of a Life Care Community is that residents “buy-in” to the community by paying a one-time, upfront fee (residency deposit or entrance fee). Most residents use the proceeds from the sale of their existing home to pay this deposit. There is also a monthly service fee that covers the costs to operate residents’ homes within the community.
Although your investment at Blakeford may feel like a real estate transaction, it’s really an investment in the Blakeford Life Care model: Your entrance fee entitles you to access all levels of care at Blakeford throughout the rest of your life at discounted rates. And, since you don’t own any real property at Blakeford, you no longer have to worry about rising property tax rates—it’s all taken care of.
On February 28, 2014, Blakeford at Green Hills was awarded an accreditation status through CARF-CCAC (Commission on Accreditation of Rehabilitation Facilities-Continuing Care Accreditation Commission). Blakeford is now one of fewer than 200 Life Plan Communities in the country to have achieved this designation and, currently, the only accredited provider in the Middle Tennessee area.
For our residents, accreditation demonstrates that: Blakeford has made a specific commitment to put the needs of our residents at the center of everything we do; Blakeford values the input of our residents and is accountable to the community; Blakeford is committed to reducing risk, addressing health and safety concerns, respecting cultural and individual preferences, and providing the best possible quality of care; Blakeford respects the rights and individuality of our residents.