At NIC MAP Vision, we're dedicated to providing the most accurate and up-to-date data on Senior Housing & Care nationwide. Every quarter, we release updated Market Fundamentals Data which includes unit counts, average market rates, and occupancy information segmented by care type: Independent Living (IL), Assisted Living (AL), Memory Care (MC), and Nursing Care (NC).
Here's a simplified look at how we gather this data to ensure you always have the latest insights at your fingertips.
Step-by-Step Data Collection Process
1. Adding Properties to Our Survey
Each property to be included in our data set is first added to our survey list. This is the starting point for gathering detailed property information.
2. Data Retrieval by the Survey Team
Once a property is added, our Survey Team reaches out to confirm details and gather any missing information. The key details we collect include:
Owner and operator names
Property address
Opening date (actual or expected)
By Care Segment / Unit Type
Number of Units
Average Market Rent
Occupancy
3. Methods of Data Collection
We use three primary methods to retrieve property data:
Rent Roll: For owners or operators who have an agreement with us via the Actual Rates Data Initiative, a monthly file will be sent directly to our Quality Assurance (QA) Team, which may include updates on new properties, opening dates, or changes in inventory (units), rent, or occupancy.
Corporate Workbook: Some owners or operators choose to send their survey datapoints in an Excel format to the Survey Team.
Direct Calls: Our Survey Team collects data directly through quarterly phone calls with the owner or operator.
4. Quality Assurance Review
Our QA Team reviews collected property data on a daily basis. This includes thorough checks for any changes in inventory, significant shifts in occupancy, or adjustments in rates, ensuring the accuracy and reliability of our data.
5. Quarterly Data Release
Finally, the updated data is compiled and released to all NIC MAP Vision clients through the NIC MAP Vision portal. This happens on a quarterly basis, ensuring you have access to the latest market insights.