Resident Retention

What formula are you using to determine length of stay on residents?

This was a tough one to figure out. On our length of stay report you enter in a date range. The system then determines, from everyone who moved out during that time period, how many days each of them stayed there. It takes this total # of days, divides it by how many people moved out. That number is then divided by 365 to get the turnover. Reverse that last calculation to get the average length of stay. Whew. You asked...

I love that Nancy asked this question, because this is one of those metrics our industry does not monitor very closely. However, I feel this is one of those metrics that is critical because you can gauge whether or not your resident retention efforts are having a positive impact. If they are working, your length of residency should continue to increase.

I know some companies have had to have reports written so their PM system can pull these numbers. Can anyone else provide insight on how to monitor length of residency?